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  • SPDR® Gold Trust (the “Trust”) is an exchange traded fund designed to track the price of gold (net of Trust expenses).
  • The value of the gold held by the Trust is determined using the LBMA Gold Price PM. For further information and risks regarding the LBMA Gold Price PM, please refer to the offering documents found on*.
  • Investment involves risks, in particular, investing in one single commodity asset class. Fluctuation in the price of gold may materially adversely affect the value of the Trust. Investors may lose part or all of their investment.
  • The trading price of the SPDR Gold Shares may be different from the underlying NAV per share.
  • The Trust may not be suitable for all investors. Investors should not invest based on this marketing material only.
    Investors should read the Trust’s prospectus, including the risk factors, take into consideration of the product features, their own investment objectives, risk tolerance level, etc. and seek independent financial and professional advices as appropriate prior to making any investment.


Find the Right Gold for your Portfolio

Investors have several options to consider when looking to gain exposure to gold and tap into its diverse potential benefits. Understanding the potential advantages and considerations for different gold investment vehicles — ETFs, mutual funds, gold bars and coins or gold mining stocks — can help an investor determine which option is best suited to their personal investment situation.



Comparing Gold Investment Vehicles

Gold-Backed ETFs
Gold-Backed ETFs offer investors gold exposure through the many benefits of passive ETF investing, including the access and transparency of intraday trading on national exchanges and lower average expense ratios than those of many of the other options. Physically backed gold ETFs, like SPDR’s gold ETFs, provide a cost-effective way to access gold bullion through a historically low-transaction-cost vehicle with low bid-ask spreads and low tracking error1 to the market price of gold.

ETFs may also provide deep liquidity and access to the market to rebalance and position exposures. But it’s important for investors to note that not all gold ETFs are created equal — or invest exclusively in gold bullion — and investors should carefully review the holdings to determine how much of the ETF’s portfolio is invested in physical gold. This is especially true when comparing gold mining ETFs and gold mutual funds that invest only a small portion of their assets in gold.

Gold Mutual Funds
Gold mutual funds provide investors with the same daily liquidity as gold ETFs, but they do not trade intraday on national exchanges, as do ETFs. And many mutual funds that hold gold in their portfolio may not exclusively invest in gold, which means they may not track gold’s price movements and reap the full value of gold’s diverse potential benefits. Mutual funds also tend to maintain a higher total expense ratio than that of many ETFs.2

Gold Mining Stocks and ETFs
Gold Mining Stocks and ETFs are another way that investors can gain exposure to gold. But investing in these companies is not the same as directly investing in gold bullion or a gold-backed ETF. These represent investments in gold mining companies and operations, and these companies may be impacted by additional factors beyond the price of gold — such as profitability, industry competition, and other financial and operational decisions.

Gold Bars and Coins
Gold bars and coins remain the most popular way that global investors access gold. But that habit may be shifting. In 2020, for example, we saw gold-backed ETFs reach record highs. Although directly holding bars and coins has a high level of transparency given physical possession, investors are often required to pay a premium over the spot price of gold for their purchase. Cost and liquidity considerations also come into play when holding bars and coins outright — including costs for insurance, transportation, and safekeeping, each of which can impact the underlying performance benefits realized.

Gold Futures
Gold futures are often used by larger or institutional investors looking to leverage their portfolios. Gold futures provide intraday trading and a way to manage underlying risks of other securities held in their portfolio. Gold futures require unique knowledge about the gold market and are not typically the vehicle of choice for the average investor.

Gold futures are not physically backed by gold, and they carry defined expiration dates, which require holders to roll over the contract according to a scheduled expiry to maintain their gold exposure. Although gold futures are generally traded in larger positions with lower brokerage commissions due to their size, the associated brokerage and roll costs need to be considered when determining the total cost of ownership.

Choosing ETFs for Gold Exposure

For many investors, the case for gold ETFs may be strong relative to other gold investment vehicles, particularly in terms of accessibility, transparency, and cost. ETFs often provide a higher degree of flexibility for investors at a potentially lower overall cost than many of the other options do — and gold-backed ETFs are no exception.

Gold ETFs have grown to record levels in terms of popularity and AUM since 2004, when SPDR ETFs introduced the first physically backed gold ETF designed to track the price of gold bullion, SPDR® Gold Shares. Since that time, gold investing via gold-backed ETFs has grown to US$191 billion in assets.3

Global investors have responded to eroding market conditions and rising inflation by placing assets into gold-backed ETFs as market volatility, geopolitical instability, and economic uncertainty have risen throughout 2022— tapping into the diversification, liquidity and risk-adjusted returns that an allocation to gold may potentially offer.4

Work with a Global Gold Leader

In November 2004, the World Gold Council partnered with SPDR ETFs to launch SPDR® Gold Shares, the first US gold-backed exchange traded fund. SPDR® Gold Shares’s arrival made it convenient and cost effective for investors to hold gold in their portfolios. Since then, SPDR® Gold Shares has reached over US$50.5 billion in assets,5 making it the largest and most liquid gold-backed ETF in the world.6

Both ETFs provide investors a relatively efficient and liquid way to access the gold bullion market through physically backed ETFs. Learn more about our heritage in the gold market, or read more about our gold ETFs below.

Invest in SPDR Gold ETFs

SPDR® Gold Shares the world’s largest and most liquid gold-backed ETF offers strategic, long-term investors access to the gold market.7

View Fund Details  |  Download Factsheet

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