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AAAU vs IAUM: Differences, Returns & Fees

AAAU and IAUM are both commodity funds, and over the year they finished level, −1.1% against −1.1%. Net assets: $2.7bn on Oct 13, 2026 for Goldman Sachs Physical Gold ETF Shares, and $7.9bn on Oct 14, 2026 for iShares Gold Trust Micro Shares.

IAUM costs 0.11 points a year less; both returned −1.1% over a year; IAUM is 3.0 times larger.

AAAU vs IAUM: Differences, Returns & Fees
AAAUIAUM
Expense ratio0.18%0.07%
Net assets, as of Oct 13, 2026$2.7bn$8.0bn
Total return, 1 year−1.1%−1.1%
What it tracksGoldGold
Holdings in commonnot published
Below its high24.0%, high on Jan 29, 202624.1%, high on Jan 29, 2026
−1.1%
AAAU total return, 1 year
−1.1%
IAUM total return, 1 year
0.18%
AAAU expense ratio
0.07%
IAUM expense ratio
Client brief · page 1 of 2Report BR-E49B10F598

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

  1. Cost. AAAU charges 0.18% of assets a year and IAUM 0.07%, a gap of 0.11 points.
  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 IAUM −1.1% with distributions reinvested, a gap of 0.0 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
IAUM
iShares Gold Trust Micro Shares
Where it sits Commodity ETF Commodity ETF
Issuer Goldman Sachs iShares
What it is Holds gold Holds gold
Total return, 1 year −1.1% −1.1%
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% 0.07%
Net assets, AAAU as of Oct 13, 2026 and IAUM as of Oct 14, 2026 $2.7bn $7.9bn

AAAU and IAUM 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 IAUM

IAUM holds gold. It sat 24.1% below its high of Jan 29, 2026 on Oct 14, 2026.

Its expense ratio is 0.07% 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 IAUM?
In the year to Oct 14, 2026, with distributions reinvested, AAAU returned −1.1% and IAUM −1.1%.
Which is cheaper, AAAU or IAUM?
IAUM is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
AAAU vs SGOLAAAU vs OUNZAAAU vs IAUAAAU vs GLDIAUM vs OUNZIAUM vs SGOLGLDM vs IAUMIAU vs IAUM
AAAU on its own →IAUM 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 ↗IAUM filings on SEC EDGAR ↗iShares page for IAUM ↗

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 IAUM, data as of Oct 14, 2026. https://etfiq.com/compare/any/aaau-vs-iaum

Open data

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