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IAUM vs OUNZ: Differences, Returns & Fees

IAUM and OUNZ are both commodity funds, and over the year they finished level, −1.1% against −1.2%. Net assets on Oct 14, 2026: $7.9bn for iShares Gold Trust Micro Shares and $2.7bn for VanEck Merk Gold ETF.

IAUM costs 0.18 points a year less; their one-year returns differ by 0.1 points; IAUM is 3.0 times larger.

IAUM vs OUNZ: Differences, Returns & Fees
IAUMOUNZ
Expense ratio0.07%0.25%
Net assets$7.9bn$2.7bn
Total return, 1 year−1.1%−1.2%
What it tracksGoldGold
Holdings in commonnot published
Below its high24.1%, high on Jan 29, 2026
−1.1%
IAUM total return, 1 year
−1.2%
OUNZ total return, 1 year
0.07%
IAUM expense ratio
0.25%
OUNZ expense ratio
Client brief · page 1 of 2Report BR-C5169CD208

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

  1. Cost. IAUM charges 0.07% of assets a year and OUNZ 0.25%, a gap of 0.18 points.
  2. What each follows (similar). Both follow Gold.
  3. One-year total return (similar). Over 1 year to Oct 14, 2026 IAUM returned −1.1% and OUNZ −1.2% 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

IAUM
iShares Gold Trust Micro Shares
OUNZ
VanEck Merk Gold ETF
Where it sits Commodity ETF Commodity ETF
Issuer iShares VanEck
What it is Holds gold Holds gold
Total return, 1 year −1.1% −1.2%
Its benchmark over the same days −1.3% (GLD) −1.3% (GLD)
Gap to its benchmark +0.2 pts vs GLD 0.0 pts vs GLD
Expense ratio 0.07% 0.25%
Net assets $7.9bn $2.7bn

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

About IAUM

IAUM 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 24.1% 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.

About OUNZ

OUNZ holds gold. Over the year to Oct 14, 2026 it returned −1.2% with distributions reinvested, against −1.3% for its benchmark, the price of gold.

Its expense ratio is 0.25% a year, for the three months to Jul 31, 2026, as its 10-Q states.

Questions people ask

Which returned more over the last year, IAUM or OUNZ?
In the year to Oct 14, 2026, with distributions reinvested, IAUM returned −1.1% and OUNZ −1.2%.
Which is cheaper, IAUM or OUNZ?
IAUM is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
AAAU vs IAUMFGDL vs IAUMIAUM vs SGOLGLDM vs IAUMOUNZ vs SGOLAAAU vs OUNZFGDL vs OUNZGLD vs OUNZ
IAUM on its own →OUNZ on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
IAUM filings on SEC EDGAR ↗iShares page for IAUM ↗OUNZ filings on SEC EDGAR ↗VanEck page for OUNZ ↗

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

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