The iShares Physical Gold ETC (IGLN) is an Ireland-domiciled exchange-traded commodity listed in U.S. dollars on the London Stock Exchange. It is issued by iShares Physical Metals plc, with BlackRock Advisors (UK) Limited overseeing the product structure.

The ETC seeks to track the spot price of gold, providing commodity exposure through an exchange-traded structure backed by physical gold.

IGLN uses physical replication, with its securities backed by gold held in custody. The product is designed to reflect movements in the price of physical gold, less the costs associated with operating the structure. Unlike a UCITS ETF, IGLN is structured as an ETC and is not a UCITS fund.

The product uses the LBMA Gold Price as its reference benchmark. Rather than tracking a traditional equity or fixed-income index, IGLN provides targeted exposure to the international price of physical gold.

Composition / Exposure Profile

As an ETC backed by a single commodity, IGLN does not provide the sector diversification typically associated with equity ETFs.

Its exposure is concentrated in:

• Physical gold.

• The international precious metals market.

• Movements in the global price of gold.

The physical gold backing the securities is held in custody by JPMorgan Chase Bank N.A., London Branch. The amount of metal represented by each security declines over time to account for the product's operating costs.

Structure and Costs

IGLN trades in U.S. dollars on the London Stock Exchange. The same product has additional listings in other trading currencies, including SGLN in British pounds and EGLN in euros. Its base currency is the U.S. dollar.

The ETC has a total expense ratio (TER) of 0.12% per year and uses a physical metal structure with physical replication. It is issued by Ireland-domiciled iShares Physical Metals plc.

IGLN does not generate or distribute dividends because its exposure is directly linked to physical gold. Its official documentation therefore classifies its use of income as “No Income.”

History and Evolution of the ETC

The iShares Physical Gold ETC (IGLN) was launched in 2011 as an exchange-traded structure designed to provide exposure to the spot price of gold through physical backing. Since its launch, the product has maintained a strategy focused exclusively on gold, with its securities backed by physical metal held in custody.

Throughout its history, IGLN's performance has reflected movements in the international price of gold, which can be influenced by factors such as supply and demand, inflation, interest rates, currency movements, and global economic and geopolitical conditions.

Additional Information

iShares Physical Gold ETC (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $34.83 billion.

Over the past 12 months, iShares Physical Gold ETC recorded a return of 35.99%, with its price trading between $65.72 and $102.85 during the same period.

The ETF is traded under the ticker IGLN.