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Gold Setting the Standard in Gold ETF Investing
As the global leader in the gold-backed ETF market by AUM,1 State Street offers investors a relatively liquid, cost-effective way to access the asset class’s potential for long-term returns, diversification and downside mitigation. Built in partnership between the World Gold Council and the creator of the world’s first ETFs,2 State Street SPDR gold ETFs are setting the standard when it comes to investing in gold.3
Leadership That Drives Liquidity
Since partnering with the World Gold Council to launch the first US-listed gold exchange traded fund in 2004, State Street has democratized access to gold as an asset class.
We offer the largest4 and most frequently traded5 gold ETF globally. This leadership has translated to robust liquidity, low costs and tight trading spreads.
in gold ETF assets, representing one-third of the global total 6
average bid-ask spread of our largest gold ETF 7
deepest and most liquid gold ETF options market 8
Explore Gold ETF Investing
Learn how investors are using gold ETFs to seek to strengthen their portfolios by adding strategic long-term allocations and tactically capitalizing on market opportunities.
Built in Partnership
When the world’s preeminent gold experts wanted to transform how investors access the asset class, the World Gold Council turned to State Street, a pioneer in ETF investing. The remarkable demand for accessing gold this way is reflected in the fact that the ETF reached $1B in AUM in just three days after launching in 2004.
For nearly two decades, our partnership with the World Gold Council has been critical to raising awareness about the potential strategic benefits of gold as we have sought to deliver cost-effective, efficient exposure to the asset class.
A Strategic, Long-Term Asset
Gold’s potential to preserve wealth during times of market distress is well known, but it also has the potential to do much more than that. In addition to its tactical uses, gold can serve a long-term strategic role in a core portfolio.
Investors seek the following benefits from strategic allocations to gold:
Long-Term Returns
Gold has a 7.91% annual growth rate since August 1971, the day US President Richard Nixon effectively “closed the gold window."9
Diversification
Gold has demonstrated a -0.01 and 0.07 monthly correlation to the S&P 500 Index and Bloomberg Barclays US Aggregate Bond Index, respectively, since the 1970s.10
Deep Liquidity
The estimated global average daily turnover of gold is more than $145 billion, which is equivalent to $37 trillion per year.11
Protection from Market Downturns
During the last 15 market downturns, gold has provided a +6.0% return, while the S&P 500 Total Return Index declined -22.0%.12
Our Latest Thinking
We are continually producing in-depth research and market commentary about the role gold can play in strengthening a portfolio.
Gold as a Strategic Asset Class
Gold can play a long-term strategic role in an investor’s portfolio, in addition to some of the commonly known tactical uses. Learn about its function as a core diversifying asset.
More on Gold
Pure Gold. Pure Exposure.
SPDR gold ETFs are backed 100% by physical gold. Our ETFs are designed to provide the direct, secure and liquid exposure investors seek when investing in gold—without the costs and logistical concerns of owning bullion or the potential tracking error of investing in gold through other vehicles.
Our Solutions
Whether an investor prioritizes a low expense ratio and low share price or enhanced liquidity and highly efficient trade execution, SPDR gold ETFs may provide the solutions investors need.
1 Bloomberg Finance, L.P., World Gold Council, and State Street Global Advisors; as of June 30, 2020.
2 ETFs managed by State Street Global Advisors have the oldest inception dates within the US, Hong Kong, Australia, and Singapore. State Street Global Advisors launched the first ETF in the US on January 22, 1993; launched the first ETF in Hong Kong on November 11, 1999; launched the first ETF in Australia on August 24, 2001; and launched the first ETF in Singapore on April 11, 2002.
3 State Street Global advisors is the global leader in the gold-backed ETF market by AUM. Bloomberg Finance, L.P., World Gold Council, and State Street Global Advisors; as of June 30, 2020.
4 Bloomberg Financial, L.P. and State Street Global Advisors; as of June 30, 2020.
5 Bloomberg Financial, L.P. and State Street Global Advisors; measuring by nominal value; as of June 30, 2020.
6 Bloomberg Finance, L.P., World Gold Council, and State Street Global Advisors; as of September 30, 2020.
7 Average daily percent (%) bid-ask spread since inception of GLD on November 18, 2004.
8 GLD’s option market is 490 times greater than that of next largest competitor based on notional open interest; Bloomberg Finance, L.P., State Street Global Advisors, as of June 30, 2020.
9 Bloomberg Financial, L.P., and State Street Global Advisors, as of June 30, 2020. Gold returns are measured by the LBMA Gold Price PM (USD/oz).
10 Bloomberg Finance, L.P., and State Street Global Advisors; S&P 500 correlation is from 8/31/1971 to 6/30/2020 and Bloomberg Barclays US Aggregate Bond Index correlation is from 3/31/1976 to 6/30/2020 due to data availability. Source: Bloomberg Finance, L.P. and State Street Global Advisors. The correlation coefficient measures the strength and direction of a linear relationship between two variables. It measures the degree to which the deviations of one variable from its mean are related to those of a different variable from its respective mean with 0 being uncorrelated and 1 being perfectly correlated. Gold returns are measured by the LBMA Gold Price PM (USD/oz).
11 Estimates based on clearing statistics published by the LBMA, LBMA-i and non-LBMA-i OTC (estimates represent daily averages is US$ billion for Q1’2019), COMEX, SHFE, SGE, LME precious, Dubai Gold & Commodities Exchange, ICE Futures, US Metals, Borsa Istanbul, Bursa Malaysia, Moscow Exchange, and Tokyo Commodity Exchange. Date as of December 31, 2019. Gold returns are measured by the LBMA Gold Price PM (USD/oz).
12 Analysis of Gold’s Historical Performance in Market Downturns. Bloomberg Finance, L.P. and State Street Global Advisors, as of June 30, 2020. Notes: Market downturn is defined as a decrease in the S&P 500 of 15% or greater; 2008 Financial Crisis (06/05/08 – 03/09/09); Black Monday (08/25/87 – 12/04/87); 2002 Recession (03/19/02 – 07/23/02); Dot Com Bubble (09/29/00 – 04/04/01); Gulf War (07/16/90 – 10/11/90); LTCM & Asian Crisis (07/17/98 – 08/31/98);US Credit Downgrade (07/07/11 – 10/03/11); Subprime Meltdown (10/09/07 – 03/10/08); September 11th (08/24/01 – 09/21/01); Flash Crash (04/23/10 – 07/02/10); Trade War/Recession Fears (09/21/18 – 12/26/18); Iraq War (01/14/03 – 03/11/03); End of QE Era(11/03/15 – 02/11/16); Yuan Devaluation (07/20/15 – 08/25/15); COVID-19 Pandemic (2/19/20 – 3/23/20); Source: Bloomberg Financial L.P. and State Street Global Advisors, Date as of 6/30/2020. Gold returns are measured by the LBMA Gold Price PM (USD/oz).
Information Classification: ll General
Investing involves risk, and you could lose money on an investment in each of SPDR® Gold Shares Trust ("GLD® or “GLD") and SPDR® Gold MiniSharesSM Trust ("GLDMSM" or “GLDM”), a series of the World Gold Trust (together, the "Funds").
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs' net asset value. Brokerage commissions and ETF expenses will reduce returns.
Commodities and commodity-index linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as trading activity of speculators and arbitrageurs in the underlying commodities.
Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.
Past performance is not a guarantee of future results.
Diversification does not ensure a profit or guarantee against loss.
Investing in commodities entails significant risk and is not appropriate for all investors.
Important Information Relating to GLD and GLDM: The SPDR Gold Trust ("GLD") and the World GoldTrust have each filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for GLD and GLDM, respectively. Before you invest, you should read the prospectus in the registration statement and other documents each Fund has filed with the SEC for more complete information about each Fund and these offerings. Please see each Fund's prospectus for a more detailed discussion of the risks of investing in each Fund's shares. The GLD prospectus is available by clicking here and the GLDM prospectus is available by clicking here. You may get these documents for free by visiting EDGAR on the SEC website at sec.gov or by visiting spdrgoldshares.com. Alternatively, the Funds or any authorized participant will arrange to send you the prospectus if you request it by calling 866.320.4053.
None of the Funds is an investment company registered under the Investment Company Act of 1940 (the "1940 Act"). As a result, shareholders of each Fund do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act. GLD and GLDM are not subject to regulation under the Commodity Exchange Act of 1936 (the "CEA"). As a result, shareholders of each of GLD and GLDM do not have the protections afforded by the CEA.
Shares of each Fund trade like stocks, are subject to investment risk and will fluctuate in market value.
The values of GLD shares and GLDM shares relate directly to the value of the gold held by each Fund (less its expenses), respectively. Fluctuations in the price of gold could materially and adversely affect an investment in the shares. The price received upon the sale of the shares, which trade at market price, may be more or less than the value of the gold represented by them.
None of the Funds generate any income, and as each Fund regularly sells gold to pay for its ongoing expenses, the amount of gold represented by each Fund share will decline over time to that extent.
The World Gold Council name and logo are a registered trademark and used with the permission of the World Gold Council pursuant to a license agreement. The World Gold Council is not responsible for the content of, and is not liable for the use of or reliance on, this material. World Gold Council is an affiliate of the Sponsor of each of GLD and GLDM.
GLD® is a registered trademark of World Gold Trust Services, LLC used with the permission of World Gold Trust Services, LLC. MiniSharesSM and GLDMSM are service marks of WGC USA Asset Management Company, LLC used with the permission of WGC USA Asset Management Company, LLC.
For more information, please contact the Marketing Agent for GLD and GLDM. State Street Global Advisors Funds Distributors, LLC, One Iron Street, Boston, MA, 02210; T: +1 866 320 4053 spdrgoldshares.com