三心老師：Gold ETF， 二選一， 您選GLD， 是嗎？為什麽？

 

Based on performance, assets under management (AUM), liquidity, and expense ratios as of May 5, 2025, the top two gold ETFs listed on the U.S. stock market are:

1. SPDR Gold Shares (GLD)
   • Why It Stands Out: GLD is the largest and most liquid gold ETF, with over $100 billion in AUM, reflecting strong investor confidence. It tracks the spot price of gold bullion, providing direct exposure to gold price movements. In 2025, it has benefited from gold’s 20% year-to-date rise amid market volatility, inflation concerns, and geopolitical tensions.
   • Performance: GLD has delivered a three-year annualized return of approximately 14.19% as of September 30, 2024, and continues to perform strongly in 2025 with gold prices hitting $3,322 per ounce.
   • Expense Ratio: 0.40%, which is competitive but higher than some alternatives.
   • Liquidity: High trading volume (average 12-month volume over 400,000 shares) and a low bid-ask spread (0.4% or lower) make it ideal for active traders.
   • Key Highlight: GLD’s large size and institutional backing (managed by State Street) make it a go-to for investors seeking a safe-haven asset. Its inflows in March 2025 alone were $1.9 billion, driven by gold’s record prices.
2. iShares Gold Trust Micro (IAUM)
   • Why It Stands Out: IAUM offers the lowest expense ratio among physically backed gold ETFs at 0.09%, making it highly cost-effective for long-term investors. It tracks the LBMA Gold Price, providing exposure to physical gold bullion stored in vaults. Its low cost and strong performance make it a top choice for retail investors.
   • Performance: IAUM has closely tracked gold’s 20% year-to-date gain in 2025, with a focus on cost-conscious investors. Its smaller size ($1.3 billion AUM) still meets liquidity needs for most investors.
   • Expense Ratio: 0.09%, the lowest in its category, maximizing returns over time.
   • Liquidity: Adequate trading volume and a bid-ask spread of 0.4% or lower ensure ease of trading, though it’s less liquid than GLD.
   • Key Highlight: Designed for retail investors, IAUM’s low fees and physical gold backing make it a strong alternative to GLD, especially for those prioritizing cost efficiency.

Notes:

• Both ETFs are physically backed by gold bullion, avoiding the risks of derivatives or mining stocks. They are screened for AUM over $800 million, trading volume over 400,000 shares, and expense ratios of 0.4% or lower, ensuring quality and accessibility.
• GLD is better for high-liquidity needs and institutional investors, while IAUM suits cost-conscious, long-term holders.
• Gold ETFs have outperformed the S&P 500 and Nasdaq in 2025 (down 3% and 5%, respectively), driven by gold’s role as a hedge against inflation and volatility.