Tesla
Dividend Calendar
Stock Rankings
ETF Rankings
Crypto Rankings
5.0
SPDR Gold Shares (GLD) is an exchange-traded fund that seeks to track the performance of the price of physical gold, one of the main assets used as a store of value and hedge against macroeconomic uncertainty. The ETF is managed by State Street Global Advisors and trades under the ticker GLD on NYSE Arca.
Classified as a commodity ETF, often considered an alternative investment, GLD aims to reflect, before fees and expenses, movements in the spot price of gold. To achieve this objective, the fund holds physical gold in custody, seeking to closely replicate the behavior of the metal in the global market.
The gold price referenced by GLD is based on the spot value of the metal, adjusted for operational costs related to custody and administration, with daily mark-to-market adjustments in line with the fund’s methodology.
Composition and exposure profile
GLD provides direct exposure to the price of physical gold and is not linked to traditional economic sectors.
This structure gives the ETF characteristics associated with inflation hedging, portfolio diversification, and store of value during periods of market volatility.
Structure and costs
Shares of GLD are traded on the secondary market, while creation and redemption of shares are carried out by authorized participants, a mechanism that helps keep the ETF’s market price close to the value of the gold held, adjusted for costs.
The fund has a competitive expense ratio, a common feature among commodity ETFs, and does not charge a performance fee. In addition, it has a single share class and trades exclusively under the ticker GLD.
It also does not distribute income, as it is backed by physical gold, an asset that does not generate cash flow.
History and evolution of the ETF
SPDR Gold Shares was launched in 2004, during a period of rapid growth in the ETF industry and rising demand for gold exposure as an alternative investment.
Since its inception, GLD has become one of the largest and most widely used gold ETFs in the world, providing access to the metal’s price without the need for physical ownership.
Between 2010 and 2024, the ETF reflected significant movements in gold prices driven by macroeconomic events such as financial crises, expansionary monetary policies, and geopolitical tensions, while maintaining high liquidity and broad global adoption.
