IAU alternatives and similar ETFs

The ETFs most like IAU are GLDM, SGOL and BAR. GLDM, SGOL and BAR hold gold bars kept in a vault, like IAU. GLDM costs less: 0.1% a year against 0.25%.

Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 16, 2026.

Yearly fee
0.25%
about $25 on $10,000
Return per year
10.8%
since January 2005
Worst drop
−45.1%
since 2005
Started trading
Jan 2005
iShares (BlackRock)

Key points

  • 8 funds can stand in for IAU: 5 of the same kind and 3 related funds.
  • IAU charges 0.25% a year (about $25 on $10,000). The cheapest alternative here, GLDM, charges 0.1%.
  • GLDM moved most like IAU: a daily correlation of 1.00 over about the last five years.
  • Returns and drops for each pair use the same dates for both funds.

IAU alternatives at a glance#

Each fund below can stand in for IAU, closest first. “Same kind” funds hold the same kind of investments through a different index. “Related” funds make a different bet that often moves the same way.

ETFHow closeYearly feeFee on $10,000Tracks
IAUThis fund0.25%$25LBMA Gold Price
GLDMSame kind of fund0.1%$10LBMA Gold Price PM
SGOLSame kind of fund0.17%$17LBMA Gold Price PM
BARSame kind of fund0.1749%$17.49LBMA Gold Price PM
AAAUSame kind of fund0.18%$18LBMA Gold Price PM
GLDSame kind of fund0.4%$40LBMA Gold Price PM
DJPRelated fund0.7%$70Bloomberg Commodity Index Total Return
DBCRelated fund0.85%$85DBIQ Optimum Yield Diversified Commodity Index Excess Return
GSGRelated fund0.75%$75S&P GSCI Total Return Index

Fees come from each fund company, checked on the dates shown on each fund’s page.

How IAU and its alternatives did over the same dates#

$10k$20k20192020202120222023202420252026
IAUGLDMSGOLBARGrowth of $10,000, log scale, with dividends reinvested. Past results do not tell you what happens next.

Each row measures the alternative and IAU on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

ETFMoves with IAUPer yearIAU per yearWorst dropIAU worst dropSince
GLDM1.0015.3%15.2%−26.3%−26.4%June 2018
SGOL1.008.5%8.5%−45.5%−45.1%September 2009
BAR1.0013.2%13.1%−26.3%−26.4%September 2017
AAAU1.0016.6%16.5%−26.3%−26.4%August 2018
GLD1.0010.6%10.8%−45.6%−45.1%January 2005
DJP0.430.4%9.9%−78.3%−45.1%October 2006
DBC0.312.8%9.8%−76.4%−45.1%February 2006
GSG0.23−1.4%9.6%−89.6%−45.1%July 2006

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each IAU alternative, compared#

GLDM: SPDR Gold MiniShares#

GLDM also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price.

It charges 0.1% a year, about $10 on $10,000, against $25 for IAU.

From June 2018 to October 2026, GLDM returned about 15.3% a year and IAU returned about 15.2% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the GLDM fund page for its returns by year and worst drop.

SGOL: abrdn Physical Gold Shares ETF#

SGOL also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price.

It charges 0.17% a year, about $17 on $10,000, against $25 for IAU.

From September 2009 to October 2026, SGOL returned about 8.5% a year and IAU returned about 8.5% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the SGOL fund page for its returns by year and worst drop.

BAR: GraniteShares Gold Trust#

BAR also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price.

It charges 0.1749% a year, about $17.49 on $10,000, against $25 for IAU.

From September 2017 to October 2026, BAR returned about 13.2% a year and IAU returned about 13.1% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the BAR fund page for its returns by year and worst drop.

AAAU: Goldman Sachs Physical Gold ETF#

AAAU also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price.

It charges 0.18% a year, about $18 on $10,000, against $25 for IAU.

From August 2018 to October 2026, AAAU returned about 16.6% a year and IAU returned about 16.5% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read the AAAU fund page for its returns by year and worst drop.

GLD: SPDR Gold Shares#

GLD also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price.

It charges 0.4% a year, about $40 on $10,000, against $25 for IAU.

From January 2005 to October 2026, GLD returned about 10.6% a year and IAU returned about 10.8% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

Read GLD vs IAU for the full side-by-side, or the GLD fund page.

DJP: iPath Bloomberg Commodity Index Total Return ETN#

DJP is a looser match. It holds futures on oil, metals, grains and other raw materials, while IAU holds gold bars kept in a vault.

It charges 0.7% a year, about $70 on $10,000, against $25 for IAU.

From October 2006 to October 2026, DJP returned about 0.4% a year and IAU returned about 9.9% a year. Over about the last five years they often moved in different ways (correlation 0.43).

Read the DJP fund page for its returns by year and worst drop.

DBC: Invesco DB Commodity Index Tracking Fund#

DBC is a looser match. It holds futures on oil, metals, grains and other raw materials, while IAU holds gold bars kept in a vault.

It charges 0.85% a year, about $85 on $10,000, against $25 for IAU.

From February 2006 to October 2026, DBC returned about 2.8% a year and IAU returned about 9.8% a year. Over about the last five years they often moved in different ways (correlation 0.31).

Read the DBC fund page for its returns by year and worst drop.

GSG: iShares S&P GSCI Commodity-Indexed Trust#

GSG is a looser match. It holds futures on oil, metals, grains and other raw materials, while IAU holds gold bars kept in a vault.

It charges 0.75% a year, about $75 on $10,000, against $25 for IAU.

From July 2006 to October 2026, GSG lost about 1.4% a year and IAU returned about 9.6% a year. Over about the last five years they often moved in different ways (correlation 0.23).

Read the GSG fund page for its returns by year and worst drop.

IAU versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to IAU from each other company on this page:

  • SPDR (State Street): GLDM, SPDR Gold MiniShares (same kind of fund, 0.1% a year)
  • abrdn (Aberdeen): SGOL, abrdn Physical Gold Shares ETF (same kind of fund, 0.17% a year)
  • GraniteShares: BAR, GraniteShares Gold Trust (same kind of fund, 0.1749% a year)
  • Goldman Sachs Asset Management: AAAU, Goldman Sachs Physical Gold ETF (same kind of fund, 0.18% a year)
  • iPath (Barclays): DJP, iPath Bloomberg Commodity Index Total Return ETN (related fund, 0.7% a year)
  • Invesco: DBC, Invesco DB Commodity Index Tracking Fund (related fund, 0.85% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between IAU and its alternatives#

  • What it tracks. A fund on the same index holds the same investments. A different index can mean different weights, more or fewer holdings, or a different mix.
  • The fee. The difference is often small. On $10,000, IAU costs about $25 a year. GLDM costs about $10.
  • History. An older fund has been through more bad markets, so you can see how far it fell.
  • What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Test IAU and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add IAU and GLDM, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as IAU. Then come funds that hold the same kind of investments through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like IAU over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with IAU only on days both traded. Read what a backtest simulates for more on these measures.

Research and test it

Common questions#

What ETF is most similar to IAU?#

GLDM is the closest. GLDM also holds gold bars kept in a vault. It tracks the LBMA Gold Price PM, while IAU tracks the LBMA Gold Price. Over about the last five years they moved almost exactly together.

Is there a cheaper alternative to IAU?#

Yes. GLDM charges 0.1% a year, SGOL charges 0.17% a year and BAR charges 0.1749% a year, against 0.25% for IAU. On $10,000 that is about $10 a year instead of $25.

Is IAU or GLDM better?#

Neither is better for everyone. From June 2018 to October 2026, IAU returned about 15.2% a year and GLDM returned about 15.3% a year. IAU charges 0.25% a year and GLDM charges 0.1%. Past returns do not tell you what comes next.

What if I had put $10,000 in IAU 10 years ago?#

It would have grown to about $32,473 by October 16, 2026, with dividends reinvested. That is about 12.5% a year. Past returns do not tell you what comes next.

Sources#