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Data as of Oct 28, 2026.

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IAU vs MDY: Differences, Returns & Fees

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IAU is a commodity fund and MDY an equity index fund, and over the year to Oct 28, 2026, MDY returned +12.8% against +2.7%.

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Net assets: $60.1bn on Oct 28, 2026 for iShares Gold Trust, and $25.9bn on Oct 27, 2026 for SPDR S&P MidCap 400 ETF Trust.

IAU on its own →MDY on its own →
At a glance
+2.7%
IAU total return, 1 year
+12.8%
MDY total return, 1 year
0.25%
IAU expense ratio
0.23%
MDY expense ratio

Pair scorecard

MDY costs 0.02 points a year less; their one-year returns differ by 10.1 points; IAU is 2.3 times larger.

IAU vs MDY: Differences, Returns & Fees
MeasureIAUMDY
Return
Total return, 1 year+2.7%+12.8%
Drawdown
Below its high24.6%, high on Jan 29, 20266.5%, high on Aug 14, 2026
Benchmark
What it tracksGoldS&P MidCap 400 Index
Cost and size
Expense ratio0.25%0.23%
Net assets, as of Oct 27, 2026$60.3bn$25.9bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight0%
Top ten holdings, share of the fund7.5%

Method

Side by side

IAU iShares Gold Trust MDY SPDR S&P MidCap 400 ETF Trust
Where it sits Commodity ETF Stock ETF
Issuer iShares State Street
What it is Holds gold Tracks the S&P MidCap 400
Total return, 1 year +2.7% +12.8%
Its benchmark over the same days +2.5% (GLD) +13.2% (IJH)
Gap to its benchmark +0.2 pts vs GLD −0.4 pts vs IJH
Expense ratio 0.25% 0.23%
Holdings not counted 401
Net assets, IAU as of Oct 28, 2026 and MDY as of Oct 27, 2026 $60.1bn $25.9bn

IAU and MDY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
IAU

Its expense ratio is 0.25% a year, for the three months to Jun 30, 2026, as its 10-Q states.

IAU holds gold. Over the year to Oct 28, 2026 it returned +2.7% with distributions reinvested, against +2.5% for its benchmark, the price of gold. It sat 24.6% below its high of Jan 29, 2026 on Oct 28, 2026.

MDY

MDY tracks the S&P MidCap 400. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested, against +13.2% for its benchmark, the S&P MidCap 400 Index. The prospectus expense ratio is 0.23% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 401 positions, with the top ten at 7.5%. It sat 6.5% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, IAU or MDY?
In the year to Oct 28, 2026, with distributions reinvested, IAU returned +2.7% and MDY +12.8%.
Which is cheaper, IAU or MDY?
MDY is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
IAU vs VOIAU vs IJHIAU vs VXFIAU vs MOATMDY vs SLVMDY vs USOMDY vs SIVRGLD vs MDY
Where to next
IAU on its own →MDY on its own →Hold both: look the portfolio through →Rankings →MDY dividend history →MDY holdings →Standards and sources →
Sources and dates
iShares page for IAU ↗
MDY filings on SEC EDGAR ↗
State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, IAU against MDY, data as of Oct 28, 2026. https://etfiq.com/compare/any/iau-vs-mdy

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