SPDR Gold MiniShares Trust (GLDM)


Market Price (9/17/2026): $86.43

SPDR Gold MiniShares Trust (GLDM)


Market Price (9/17/2026): $86.43

Key Takeaways

  • GLDM has returned -1.0% YTD vs +10.9% for SPY; +15.7% over the past 12 months (SPY +15.2%). details →
  • Over the past month, GLDM has seen net inflows of +$2.01B (+6.3% of assets). details →
  • GLDM trades 21% below its 52-week high. details →
  • Risk-adjusted returns beat SPY: 3-year Sharpe ratio of 1.2 vs 1.0. details →
  • GLDM's -1.0% YTD is behind its typical pace — it averaged +10.9% at this point (September 16) over the past 5 years. details →
Last updated: 9/16/2026.

Price Chart

Asset Allocation with GLDM

Risk Tolerance:
ConservativeModerateAggressive
Moderate — 55% equity / 25% bonds / 20% alternatives
10Y Return (ann.)
+11.7%
Volatility
10.9%
Sharpe
0.82
YTD
+5.6%
Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

Learn More →
Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance
Learn More →
Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for GLDM

Total Weights
Top 5: 100.0% | Top 10: 100.0% | Top 20: 100.0%

HoldingETF Weight
Physical Gold100.00%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
GLDM Return-4%-0%13%27%64%-0%124%
Peers Return-4%-1%13%27%64%3%131%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
GLDM Win Rate50%33%58%67%83%44% 
Peers Win Rate44%33%58%67%83%54% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
GLDM Max Drawdown-14%-21%-11%-8%-10%-26% 
Peers Max Drawdown-14%-21%-11%-8%-10%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GLD, IAU, SGOL, BAR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/16/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker1Y3Y5Y
GLDM0.881.220.85
Commodity Top Results (3Y)   
SGOL1.171.390.95
BAR1.081.380.93
GLDM0.881.220.85
IAU0.881.220.85
GLD0.861.200.84

Results as of 8312026.

GLDM Dip Buy History


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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

TickerNameDip %Mkt PricePrice DatePeak PricePeak Date# Days
DIAState Street SPDR Dow Jones Industrial Average ETF Trust-5.1%515.229162026542.81805202642
QQQInvesco QQQ Trust, Series 1-5.6%704.729162026746.166022026106
QQQMInvesco NASDAQ 100 ETF-5.5%290.209162026307.236022026106
QQEWFirst Trust Nasdaq-100 Select Equal Weight ETF-6.6%155.999162026167.03813202634
IJHiShares Core S&P Mid-Cap ETF-7.5%72.80916202678.67816202631
VOVanguard Mid-Cap ETF-5.8%79.54916202684.46816202631
IWRiShares Russell Mid-Cap ETF-6.1%107.839162026114.82816202631
MDYState Street SPDR S&P MIDCAP 400 ETF Trust-7.1%665.889162026716.91816202631
SCHMSchwab U.S. Mid-Cap ETF-6.3%34.56916202636.87630202678
IVOOVanguard S&P Mid-Cap 400 ETF-7.1%123.639162026133.08816202631
IJRiShares Core S&P Small-Cap ETF-7.3%139.469162026150.44816202631
VBVanguard Small-Cap ETF-6.6%288.989162026309.29816202631
IWMiShares Russell 2000 ETF-6.9%283.929162026305.09816202631
SCHASchwab U.S. Small-Cap ETF-8.5%33.06916202636.13630202678
VTWOVanguard Russell 2000 ETF-6.7%115.079162026123.31816202631
DFASDimensional U.S. Small Cap ETF-6.1%79.29916202684.48816202631
ESMLiShares ESG Aware MSCI USA Small-Cap ETF-6.6%52.92916202656.64816202631
NUSCNuveen ESG Small-Cap ETF-6.9%49.57916202653.27816202631
IWFiShares Russell 1000 Growth ETF-6.3%120.549162026128.666012026107
VONGVanguard Russell 1000 Growth ETF-6.1%124.239162026132.356012026107
AKREAkre Focus ETF-9.2%56.19916202661.85830202617
IWPiShares Russell Mid-Cap Growth ETF-8.2%135.569162026147.70817202630
VOTVanguard Mid-Cap Growth ETF-7.8%289.529162026314.02816202631
IJKiShares S&P Mid-Cap 400 Growth ETF-8.4%109.149162026119.11817202630
MDYGState Street SPDR S&P 400 Mid Cap Growth ETF-8.3%104.269162026113.69817202630
IWOiShares Russell 2000 Growth ETF-8.7%361.119162026395.65816202631
VBKVanguard Small-Cap Growth ETF-8.5%335.159162026366.24817202630
IJTiShares S&P Small-Cap 600 Growth ETF-8.9%163.209162026179.07804202643
SLYGState Street SPDR S&P 600 Small Cap Growth ETF-8.6%109.179162026119.50804202643
IWSiShares Russell Mid-Cap Value ETF-5.5%163.919162026173.44816202631
IJJiShares S&P Mid-Cap 400 Value ETF-6.4%141.989162026151.67816202631
MDYVState Street SPDR S&P 400 Mid Cap Value ETF-6.0%91.53916202697.39816202631
VBRVanguard Small-Cap Value ETF-5.1%238.839162026251.66816202631
IWNiShares Russell 2000 Value ETF-5.1%215.869162026227.43816202631
IJSiShares S&P Small-Cap 600 Value ETF-6.0%132.239162026140.68816202631
SLYVState Street SPDR S&P 600 Small Cap Value ETF-5.6%105.949162026112.22816202631
VIOVVanguard S&P Small-Cap 600 Value ETF-5.6%114.029162026120.76816202631
IEMGiShares Core MSCI Emerging Markets ETF-6.8%80.11916202686.00622202686
EEMiShares MSCI Emerging Markets ETF-7.7%65.72916202671.21622202686
ASHRXtrackers Harvest CSI 300 China A-Shares ETF-10.8%33.28916202637.30622202686
EWYiShares MSCI South Korea ETF-19.9%175.549162026219.20621202687
EWZiShares MSCI Brazil ETF-10.2%37.48916202641.734142026155
FXIiShares China Large-Cap ETF-11.3%33.92916202638.265132026126
ILFiShares Latin America 40 ETF-8.1%35.03916202638.104142026155
KWEBKraneShares CSI China Internet ETF-20.8%24.24916202630.595132026126
CGDVCapital Group Dividend Value ETF-5.6%48.55916202651.44813202634
NOBLProShares S&P 500 Dividend Aristocrats ETF-5.5%55.85916202659.07824202623
MTUMiShares MSCI USA Momentum Factor ETF-13.1%299.839162026345.22622202686
SPHQInvesco S&P 500 Quality ETF-7.9%82.95916202690.10630202678
FNDASchwab Fundamental U.S. Small Company ETF-6.9%35.88916202638.52816202631
SPMOInvesco S&P 500 Momentum ETF-11.1%143.669162026161.66622202686
URAGlobal X Uranium ETF-29.0%41.37916202658.265062026133
BOTZGlobal X Funds Global X Robotics & Artificial Intelligence ETF-16.6%34.72916202641.635132026126
ROBOROBO Global Robotics & Automation Index ETF-14.1%77.56916202690.346022026106
LITGlobal X Lithium & Battery Tech ETF-23.8%69.85916202691.625112026128
ICLNiShares Global Clean Energy ETF-27.1%17.32916202623.756022026106
ARKQARK Autonomous Technology & Robotics ETF-17.0%119.399162026143.825282026111
ARKXARK Space & Defense Innovation ETF-16.3%31.58916202637.745282026111
NASATema Space Innovators ETF-44.6%23.20916202641.895272026112
AGIXKraneShares Artificial Intelligence ETF-9.1%44.92916202649.406012026107
DRSKAptus Defined Risk ETF-6.7%27.69916202629.676012026107
YYYAmplify CEF High Income ETF-7.0%10.75916202611.56712202666
GDEWisdomTree Efficient Gold Plus Equity Strategy Fund-9.2%64.72916202671.30825202622
VGTVanguard Information Technology ETF-5.3%118.929162026125.626022026106
XLKState Street Technology Select Sector SPDR ETF-7.2%183.939162026198.216022026106
XLIState Street Industrial Select Sector SPDR ETF-9.5%168.719162026186.51816202631
XLCState Street Communication Services Select Sector SPDR ETF-5.1%113.009162026119.104192026150
XLYState Street Consumer Discretionary Select Sector SPDR ETF-9.7%110.189162026122.065282026111
XLUState Street Utilities Select Sector SPDR ETF-12.4%41.32916202647.154092026160
XLBState Street Materials Select Sector SPDR ETF-6.2%50.36916202653.67826202621
IYJiShares U.S. Industrials ETF-8.5%155.369162026169.86804202643
IYMiShares U.S. Basic Materials ETF-7.3%182.179162026196.45825202622
SMHVanEck Semiconductor ETF-18.4%545.569162026668.91622202686
SOXXiShares Semiconductor ETF-23.4%502.069162026655.01622202686
IBBiShares Biotechnology ETF-6.7%202.409162026216.96819202628
XBIState Street SPDR S&P Biotech ETF-9.1%154.189162026169.55819202628
ITAiShares U.S. Aerospace & Defense ETF-15.0%215.279162026253.22816202631
IYTiShares U.S. Transportation ETF-10.9%80.16916202690.01716202662
IAIiShares U.S. Broker-Dealers & Securities Exchanges ETF-8.5%181.169162026198.06903202613
KREState Street SPDR S&P Regional Banking ETF-6.7%72.74916202677.93816202631
MISLFirst Trust Indxx Aerospace & Defense ETF-13.6%42.50916202649.195282026111
RINGiShares MSCI Global Gold Miners ETF-12.4%81.58916202693.17825202622
SOXQInvesco PHLX Semiconductor ETF-23.1%88.579162026115.11622202686
TLTiShares 20+ Year Treasury Bond ETF-6.8%80.88916202686.78629202679
VGLTVanguard Long-Term Treasury ETF-5.9%51.89916202655.12629202679
SPTLState Street SPDR Portfolio Long Term Treasury ETF-6.2%24.69916202626.33629202679
TLHiShares 10-20 Year Treasury Bond ETF-5.6%94.939162026100.56629202679
EDVVanguard World Funds Extended Duration ETF-9.3%59.31916202665.43624202684
VCLTVanguard Long-Term Corporate Bond ETF-5.2%70.93916202674.85629202679
SPLBState Street SPDR Portfolio Long Term Corporate Bond ETF-5.8%21.11916202622.40629202679
IGLBiShares 10+ Year Investment Grade Corporate Bond ETF-5.6%47.25916202650.05629202679
LMUBiShares Long-Term National Muni Bond ETF-6.5%47.71916202651.00705202673
GSGiShares GSCI Commodity-5.8%30.01916202631.853182026182
GLDSPDR Gold Trust-12.2%391.749162026445.934192026150
IAUiShares Gold Trust-12.1%80.32916202691.344192026150
GLDMSPDR Gold MiniShares Trust-12.0%84.53916202696.044192026150
BARDirexion Daily Gold Bull 3X Shares-7.0%44.34916202647.683182026182
SLViShares Silver Trust-28.1%57.05916202679.355132026126
PPLTETFS Physical Platinum Shares-19.0%15.83916202619.555132026126
PALLETFS Physical Palladium Shares-20.0%23.11916202628.894142026155
UNGUnited States Natural Gas Fund LP-18.2%10.36916202612.673182026182
BNOUnited States Brent Oil Fund LP ETV-7.1%55.85916202660.135042026135
VNQVanguard Real Estate ETF-7.4%93.489162026100.95728202650
XLREState Street Real Estate Select Sector SPDR ETF-7.0%42.81916202646.01728202650
SCHHSchwab U.S. REIT ETF-8.0%22.88916202624.86726202652
IYRiShares U.S. Real Estate ETF-8.0%98.659162026107.26728202650
REETiShares Global REIT ETF-8.8%26.36916202628.89726202652
USRTiShares Core U.S. REIT ETF-9.5%63.16916202669.82726202652
IBITiShares Bitcoin Trust ETF-7.4%43.04916202646.475112026128
FBTCFidelity Wise Origin Bitcoin Fund-7.4%66.10916202671.355112026128
ETHAiShares Ethereum Trust ETF-5.3%18.15916202619.1791420262

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-09-16

Asset allocation rotation · Past month

  • Equity ETFs drew the largest net inflows (+$62.6B), followed by Bond (+$15.1B), while Real Estate (−$143M) saw the largest outflows.
  • Within the mix, money rotated into US Mid Cap Core (+$11.0B) and out of US Large Cap Core (−$10.6B).
  • Relative to fund size, CNEQ drew the largest inflow (+73.8% of AUM) and SNXX the largest outflow (−32.3%).
Largest inflows
#TickerNameTypeNet flow% of AUM
1VOOVanguard S&P 500 ETFEquity US Large Cap Core+$57.4B+5.5%
2VTIVanguard Morningstar Total Stock Market ETFEquity US Total Market+$9.38B+1.4%
3SGOViShares 0-3 Month Treasury Bond ETFCash+$7.25B+6.8%
4SPMOInvesco S&P 500 Momentum ETFEquity Factor Smart Beta+$7.15B+32.2%
5SCHDSchwab U.S. Dividend Equity ETFEquity Dividend Income+$6.03B+5.4%
6SMHVanEck Semiconductor ETFEquity Industry Subsector+$4.63B+6.8%
7VGSHVanguard Short-Term Treasury ETFBond Short Treasury+$4.52B+13.1%
8VUGVanguard Morningstar Growth ETFEquity US Large Growth+$4.43B+2.0%
9GLDSPDR Gold SharesCommodity Gold+$4.06B+2.7%
10VOVanguard Morningstar Mid-Cap ETFEquity US Mid Cap Core+$4.04B+3.7%
Largest outflows
#TickerNameTypeNet flow% of AUM
1IVViShares Core S&P 500 ETFEquity US Large Cap Core-$50.76B-5.8%
2SPYState Street SPDR S&P 500 ETFEquity US Large Cap Core-$20.78B-2.6%
3LQDiShares iBoxx $ Investment Grade Corporate Bond ETFBond Intermediate Corporate-$5.08B-16.1%
4QQQInvesco QQQ Trust, Series 1Equity US Nasdaq Growth-$4.21B-0.9%
5HYGiShares iBoxx $ High Yield Corporate Bond ETFBond High Yield Corporate-$2.82B-18.0%
6VGITVanguard Intermediate-Term Treasury ETFBond Intermediate Treasury-$2.39B-6.0%
7DRAMRoundhill Memory ETFOther-$2.29B-8.8%
8XLFState Street Financial Select Sector SPDR ETFEquity Broad Sector-$2.27B-4.1%
9EWYiShares MSCI South Korea ETFEquity Emerging Markets-$1.91B-6.9%
10GOVTiShares U.S. Treasury Bond ETFBond Intermediate Treasury-$1.59B-3.8%

Largest ETF fund flows across ~2634 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About GLDM

0Holdings Count: 0
Expense Ratio: 0.1%
Inception Date: 2018-06-25
SPDR Gold MiniShares Trust
The SPDR Gold MiniShares Trust (GLDM) aims for its shares (MiniShares) to mirror the price fluctuations of gold bullion, after accounting for the trust's operational expenses. This investment vehicle provides individuals with an accessible and economical way to gain exposure to gold. Many investors will likely find that the combined costs of trading GLDM shares in the secondary market and the trust's recurring fees are lower than the expenditures associated with directly purchasing, selling, storing, and insuring physical gold in a conventional allocated bullion account.
Asset Class: Commodities | ETF Website

Recent Active Movers

Peer Comparisons

Peers to compare with:

Profile

GLDMGLDIAUSGOLBARMedian
NameSPDR Gold .SPDR Gold .iShares Go.ETFS Physi.Direxion D. 
Asset ClassCommodityCommodityCommodityCommodityCommodity-
AUM ($ Bil)32.1147.765.17.51.432.1
Expense Ratio0.10%0.40%0.25%0.17%0.17%0.17%
10-D Avg Volume (Mil)4.318.395.842.430.234.31
Latest Day Volume (Mil)5.569.928.603.210.435.56
Holdings Count000010
Inception Date6/25/201811/18/20041/20/20059/9/20098/31/2017-

Fundamentals

GLDMGLDIAUSGOLBARMedian
NameSPDR Gold .SPDR Gold .iShares Go.ETFS Physi.Direxion D. 
Net Asset Value86.76402.2182.4541.7542.96-
Premium/Discount-2.6%-2.6%-2.6%---2.6%
Distribution Yield0.0%0.0%0.0%--0.0%
Sales Yield------
Earnings Yield------

Valuation

GLDMGLDIAUSGOLBARMedian
NameSPDR Gold .SPDR Gold .iShares Go.ETFS Physi.Direxion D. 
P/S (TTM)------
P/E (TTM)------
P/FCF (TTM)------
Forward P/E------
Forward P/S------

Risk

GLDMGLDIAUSGOLBARMedian
NameSPDR Gold .SPDR Gold .iShares Go.ETFS Physi.Direxion D. 
Volatility (1Y)29.1%29.3%28.7%30.7%31.9%29.3%
Volatility (3Y)21.2%21.3%21.1%20.6%20.2%21.1%
Volatility (5Y)18.7%18.8%18.6%18.1%17.8%18.6%
Beta (1Y)0.780.790.730.630.560.73
Beta (3Y)0.250.260.240.180.140.24
Beta (5Y)0.160.170.160.130.110.16
Sharpe Ratio (1Y)0.650.640.651.351.380.65
Sharpe Ratio (3Y)1.351.331.361.721.771.36
Sharpe Ratio (5Y)1.021.001.011.221.231.02
Max Drawdown (1Y)-26.3%-26.4%-26.4%-19.1%-16.6%-26.3%
Max Drawdown (3Y)-26.3%-26.4%-26.4%-19.1%-16.6%-26.3%
Max Drawdown (5Y)-26.3%-26.4%-26.4%-20.9%-20.9%-26.3%

Returns

GLDMGLDIAUSGOLBARMedian
NameSPDR Gold .SPDR Gold .iShares Go.ETFS Physi.Direxion D. 
1M Return-3.3%-3.4%-3.4%---3.4%
3M Return-1.4%-1.5%-1.4%---1.4%
6M Return-14.6%-14.7%-14.6%---14.6%
YTD Return-1.0%-1.2%-1.0%---1.0%
1Y Return16.0%15.6%15.8%--15.8%
2Y Return69.7%68.7%69.2%--69.2%
3Y Return121.6%119.6%120.6%--120.6%

Short Interest

Short Interest: As Of Date8312026
Short Interest: Shares Quantity6.2 Mil
Short Interest: % Change Since 815202680.3%
Average Daily Volume6.0 Mil
Days-to-Cover Short Interest1.0 days