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iShares Gold Trust Micro ETF (IAUM) is an exchange-traded fund that seeks to track the performance of the physical gold price, before fees and expenses. The ETF is managed by BlackRock through its iShares platform and trades under the ticker IAUM on NYSE Arca.
Classified as a physically backed commodity ETF, IAUM aims to reflect, before fees and expenses, the price movement of gold through direct ownership of allocated physical gold.
IAUM does not replicate a traditional equity index. Its reference is the spot price of gold in global markets. The ETF’s net asset value is directly linked to the value of the physical gold held by the trust, adjusted for fees and operational expenses.
Composition and exposure profile
IAUM provides direct exposure to physical gold, featuring:
- Holdings of physical gold stored in secure vaults.
- Sensitivity to international gold price movements.
- No exposure to equities, fixed income securities, or structured derivatives.
This structure offers access to gold price performance without the need for individual bullion custody.
Structure and costs
IAUM shares trade on the secondary market on NYSE Arca during regular trading hours. Creation and redemption occur through authorized participants, helping maintain alignment between market price and net asset value, which reflects the value of the underlying gold.
The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. It trades exclusively under the ticker IAUM and does not represent a separate share class of another fund.
History and evolution of the ETF
iShares Gold Trust Micro ETF was launched to provide cost-efficient and accessible exposure to physical gold through an exchange-traded structure. Since inception, it has gained liquidity among investors seeking diversification, inflation protection, and hedging strategies.
In recent years, IAUM has reflected movements driven by Federal Reserve policy cycles, U.S. dollar fluctuations, and global inflation expectations, while maintaining its physically backed structure.
Additional Information
iShares Gold Trust (United States) is an exchange-traded fund (ETF), with assets under management totaling $73.95 B.
Over the past 12 months, iShares Gold Trust recorded a return of 43.76%, with its price trading between $59.97 and $101.57 during the same period.
The ETF is traded under the ticker IAU.
