Gold ETF ‘MiniShares’ Debut

State Street Global Advisors rolls out physical gold ETF covering 1/100 of an ounce.
Reviewed by: Staff
Edited by: Staff

Today the World Gold Council and State Street Global Advisors rolled out a miniature version of the popular $33.6 billion SPDR Gold Trust (GLD). The SPDR Gold MiniShares Trust (GLDM) represents the value of 1/100 of an ounce of gold.

The new gold ETF comes with an expense ratio of 0.18%, while GLD charges 0.40%. Like GLD, however, GLDM lists on the NYSE Arca.

GLDM is also cheaper than the $11 billion iShares Gold Trust (IAU), which comes with an expense ratio of 0.25%. Like GLDM, IAU tracks the price of 1/100 of an ounce of gold.

“Combined with a relatively low expense ratio, GLDM’s relatively low share price provides all types of investors with access to gold within portfolios, and we’re excited to partner with the World Gold Council on another ETF for helping clients target investment goals,” said Noel Archard, global head of SPDR product for State Street Global Advisors.

In addition to GLD and GLDM, the World Gold Council previously worked with State Street on the launch of the SPDR Long Dollar Gold Trust (GLDW), which offers exposure to long positions in physical gold and the dollar, and short exposure to a basket of six foreign currencies.

GLDM’s lower handle means the fund will be more accessible to smaller investors, who might balk at the high share price of GLD, which tracks the price of a full ounce of gold.

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