Top Gold ETF Options Worth Exploring in 2026

Understanding the Fee Factor in Gold ETF Selection

When navigating the gold ETF landscape, one metric stands above the rest: the expense ratio. Since virtually all physical gold ETFs function identically—holding bullion in secured vaults—the differentiator comes down to operational costs. An expense ratio of just 0.10% versus 0.40% might seem trivial, but over decades of investing, this gap compounds into meaningful portfolio gains.

The trading spread represents another often-overlooked expense. High-liquidity funds with robust asset bases typically offer tighter spreads, reducing slippage during entry and exit. This dual-fee structure—expense ratio plus trading costs—determines whether your gold allocation truly works in your favor.

Market Context: Why Gold Matters Now

Through mid-December 2025, gold has delivered a remarkable 62% year-to-date surge. Should this momentum persist through year-end, it would rank among the top four calendar-year performances in over a century. The last comparable year was 1979, when gold climbed 133%.

Interestingly, this rally defies traditional expectations. Typically, gold shines during economic uncertainty or high inflation. Yet 2025 has presented neither scenario—the S&P 500 surged over 14%, signaling robust risk appetite, while inflation sits at 3%, well below crisis levels.

The real driver? Gold functions primarily as a volatility hedge. Its near-zero long-term correlation with U.S. equities makes it an invaluable diversifier. Year-to-year predictions remain speculative, but as a portfolio stabilizer, gold deserves consideration.

Three Standout Gold ETF Picks

iShares Gold Trust Micro: The Ultra-Low-Cost Leader

The iShares Gold Trust Micro (IAUM) captures the title of cheapest option available to retail investors, charging just 0.09% annually. This represents the industry’s tightest fee structure for physical gold exposure.

While IAUM’s $6 billion asset base trails larger competitors, it remains more than sufficient for smooth trading and tight bid-ask spreads. A lesser-known advantage: the micro-share pricing model. Trading at significantly lower per-share prices than standard gold ETFs, IAUM democratizes access for capital-constrained investors.

The parent fund, iShares Gold Trust (IAU), holds roughly twice the assets but carries a 0.25% expense ratio—a premium many investors won’t justify after considering IAUM’s alternative.

SPDR Gold MiniShares Trust: Massive Liquidity at Minimal Cost

State Street responded to demand for affordable gold exposure by launching SPDR Gold MiniShares Trust (GLDM). With a 0.10% expense ratio and over $25 billion in assets under management, it delivers the rare combination of razor-thin costs and exceptional trading liquidity.

GLDM emerged as a response to its elder sibling, SPDR Gold Trust (GLD), which dominates the category but charges 0.40%—among the highest in the space. GLD’s size and recognition attracted investors willing to tolerate inflated fees, but GLDM now offers a compelling alternative without sacrificing tradability.

The mini-share structure similarly benefits price-conscious investors, with individual shares trading at more approachable levels.

abrdn Physical Gold Shares ETF: The ESG Consideration

abrdn Physical Gold Shares ETF (SGOL) deviates slightly from pure-cost optimization by incorporating responsible sourcing principles. At 0.17%, its expense ratio sits between budget options and premium offerings—a modest premium for investors prioritizing ethical considerations.

The fund mandates that all post-2012 gold refinement follows the London Bullion Market Association’s Responsible Gold Guidance. This framework ensures participating refiners combat environmental degradation, money laundering, and human rights violations.

For ESG-focused investors, SGOL bridges values-based investing with commodity exposure, though the higher fee structure demands acceptance of modest return drag.

Making Your Decision

Physical gold ETFs operate on fundamentally similar mechanics—each holds actual bullion in secure storage. This homogeneity means fee comparison becomes the primary evaluation criterion. By selecting funds with the lowest combined expense ratios and trading costs, you maximize the portion of your investment working toward genuine returns.

Whether prioritizing IAUM’s rock-bottom 0.09% structure, GLDM’s liquidity at 0.10%, or SGOL’s values alignment at 0.17%, the key lies in active selection rather than passive acceptance of mainstream options.