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GLDW

GLDW

SPDR Long Dollar Gold Trust
F

N/A
  • Overview
  • Efficiency
  • Tradability
  • Fit

GLDW Fund Description

The SPDR Long Dollar Gold Trust tracks an index which consists of the spot price of gold, overlaid by a short position in a basket of non-US currencies. The fund holds physical gold bars in London vaults.

GLDW Factset Analytics Insight

In most respects, GLDW operates similarly to its sibling, GLD: the fund holds physical gold bars in a London vault. However, the fund overlays its gold exposure with a short position in a basket of foreign currencies (the same as the US Dollar Index, a static basket which is dominated by the euro). It does this using an OTC agreement with Merrill Lynch; if the dollar appreciates relative to the basket, Merrill will settle the agreement by delivering gold bars to the fund, and vice versa. Settlement occurs daily.
In effect, the fund has a 100% long position in both gold and the US dollar. Historically, gold and the dollar have had an inverse relationship, but during times of economic crisis both have tended to surge as investors flee to safety. GLDW allows safety-seeking investors to access both assets at once. Additionally, the fund may appeal to long-term gold investors who wish to hedge against a rising US dollar.
GLDW isn’t cheap, but seems reasonably priced for the exposure it offers. Because the fund holds physical bars, long-term gains on sale of GLDW shares will be taxed at the higher collectibles rate. It is not clear whether gains from the fund’s currency overlay will be taxed as capital gains or ordinary income, or whether the fund will make distributions in this case. Consult a tax professional before investing.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
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GLDW Top 10 Contracts

GLDW Summary Data

SPDR
01/27/17
Grantor Trust
0.5%
$14.37M
$120.29K
0.41%

GLDW Portfolio Data

Physically Held
Physically Held
Daily
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GLDW Index Data

Single Asset
Single Asset
Gold Spot

Related ETFs to GLDW

GLD, IAU, SGOL, OUNZ, GLDW
Total Return
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max

GLDW Portfolio Management

0.5%
--
--
--

GLDW Tax Exposures

28% / 39.6%
--
No

GLDW Fund Structure

Grantor Trust
Yes
N/A
N/A
N/A
High
Daily
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
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LAST 10 TRADES
TIMEPRICESHARES
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Bats BZX Real-time Quote - 17:58:14
Daily Spread
Premium/Discount
Volume

GLDW Factset Analytics Block Liquidity

As of 10/23/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of GLDW. GLDW is rated a 5 out of 5.

GLDW Tradability

650
$120.29K
208
$38.66K
0.41%
$0.5
-0.26%
1.1% / -1.79%
None
100%
10,000
0.02
0.04%
--
--
$119.75
5

GLDW Sector Breakdown

GLDW Top 10 Targeted Commodity Weights

GLDW Tenor Strategy

0

GLDW Performance Statistics

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--
--
0.00%

GLDW Rolling Strategy

0