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AAAU vs GLDM: Differences, Returns & Fees

AAAU and GLDM are both commodity funds, and over the year they finished level, −1.1% against −1.0%. Net assets on Oct 13, 2026: $2.7bn for Goldman Sachs Physical Gold ETF Shares and $31.0bn for SPDR Gold MiniShares Trust.

GLDM costs 0.08 points a year less; their one-year returns differ by 0.1 points; GLDM is 11.6 times larger.

AAAU vs GLDM: Differences, Returns & Fees
AAAUGLDM
Expense ratio0.18%0.10%
Net assets, as of Oct 13, 2026$2.7bn$31.0bn
Total return, 1 year−1.1%−1.0%
What it tracksGoldGold
Holdings in commonnot published
Below its high24.0%, high on Jan 29, 2026
−1.1%
AAAU total return, 1 year
−1.0%
GLDM total return, 1 year
0.18%
AAAU expense ratio
0.10%
GLDM expense ratio
Client brief · page 1 of 2Report BR-1DAEA9C402

AAAU and GLDM are built for the same job. How do they differ in cost, holdings and results?

  1. Size. AAAU has $2.7bn in net assets and GLDM $31.0bn (net assets, as of Oct 13, 2026); GLDM is 11.5 times larger.
  2. What each follows (similar). Both follow Gold.
  3. One-year total return (similar). Over 1 year to Oct 14, 2026 AAAU returned −1.1% and GLDM −1.0% with distributions reinvested, a gap of 0.1 points.

Data as of Oct 14, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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On the same fields

AAAU
Goldman Sachs Physical Gold ETF Shares
GLDM
SPDR Gold MiniShares Trust
Where it sits Commodity ETF Commodity ETF
Issuer Goldman Sachs State Street
What it is Holds gold Holds gold
Total return, 1 year −1.1% −1.0%
Its benchmark over the same days −1.3% (GLD) −1.3% (GLD)
Gap to its benchmark +0.1 pts vs GLD +0.2 pts vs GLD
Expense ratio 0.18% 0.10%
Net assets, as of Oct 13, 2026 $2.7bn $31.0bn

AAAU and GLDM on the fields both publish, as of Oct 14, 2026. Source: ETFIQ.

About AAAU

AAAU holds gold. Over the year to Oct 14, 2026 it returned −1.1% with distributions reinvested, against −1.3% for its benchmark, the price of gold. It sat 24.0% below its high of Jan 29, 2026 on Oct 14, 2026.

Its expense ratio is 0.18% a year, for the three months to Jun 30, 2026, as its 10-Q states.

About GLDM

GLDM holds gold. Over the year to Oct 14, 2026 it returned −1.0% with distributions reinvested, against −1.3% for its benchmark, the price of gold.

Its expense ratio is 0.10% a year, for the three months to Jun 30, 2026, as its 10-Q states.

Questions people ask

Which returned more over the last year, AAAU or GLDM?
In the year to Oct 14, 2026, with distributions reinvested, AAAU returned −1.1% and GLDM −1.0%.
Which is cheaper, AAAU or GLDM?
GLDM is cheaper, by 0.08 percentage points a year. That is about $8 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
AAAU vs GLDAAAU vs IAUAAAU vs SGOLAAAU vs OUNZGLDM vs OUNZGLDM vs USOGLDM vs SIVRGLDM vs SGOL
AAAU on its own →GLDM on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
AAAU filings on SEC EDGAR ↗Goldman Sachs website ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, AAAU against GLDM, data as of Oct 14, 2026. https://etfiq.com/compare/any/aaau-vs-gldm

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.