GLD — SPDR Gold Shares

GLD Price Performance — Growth of $10,000

Value of a $10,000 investment in GLD over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

GLD Drawdown

The "underwater" chart: GLD's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

SPDR Gold Shares (GLD) is a commodity-focused fund managed by State Street Investment Management with $130 billion in assets under management. As the second-largest fund in its category of 22 tracked ETFs, it holds an overall rank of #226 out of 458 ETFs across all sectors. The fund carries an ETFValuer grade of C, reflecting a score of 61.1 out of 100, while charging an expense ratio of 0.4%. It offers no income distribution, indicated by a dividend yield of 0.00%, which aligns with its focus on price appreciation rather than cash flow. The current share price stands at $369.37, suggesting significant investor adoption given the massive AUM relative to the total number of funds in the commodities space. This substantial asset base positions GLD as a dominant vehicle within its specific niche despite its mid-tier overall ranking among all tracked ETFs.

The fund's recent performance shows a sharp divergence between short-term declines and strong long-term gains. Over the last day and week, returns were negative at -1.40% and -1.45% respectively, continuing a monthly decline of -1.14%. This downward pressure intensified over the quarter and half-year, with returns falling to -14.08% and -20.51%, while year-to-date performance sits at -7.26%. In contrast, the one-year return has surged to +20.16%, and the three-year return has reached an impressive +105.66%. This pattern indicates a period of recent weakness following a substantial multi-year rally, creating a notable gap between immediate price action and longer-term historical results.

GLD is classified with a High volatility label and exhibits a Beta of 0.41, suggesting price movements that are less sensitive to broad market fluctuations than the average asset. The fund has experienced a maximum drawdown of -26.40%, highlighting the potential for significant temporary losses during market stress. A Sharpe ratio of 0.54 indicates that the risk-adjusted returns have been moderate relative to the volatility endured. This combination of high volatility, a low beta, and a substantial drawdown implies that while the fund may not move in lockstep with the broader equity market, it remains subject to sharp, independent price swings that can result in deep declines before recovering over longer horizons.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

GLD Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 6.9M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $130B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GLD is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

GLD Performance History

How GLD Compares to Other Commodities ETFs