Are gold ETFs backed by real gold?

GLD, IAU and SGOL are 100% physically backed by allocated London Good Delivery bars, audited twice yearly.

SGOL at 0.17%, then IAU at 0.25%, then GLD at 0.40%.

🚧 Coming soon — GoldGPT is under construction. Features may change. 🚧 New tools in development. Thanks for your patience! ✨🚧 Coming soon — GoldGPT is under construction. Features may change. 🚧 New tools in development. Thanks for your patience! ✨🚧 Coming soon — GoldGPT is under construction. Features may change. 🚧 New tools in development. Thanks for your patience! ✨🚧 Coming soon — GoldGPT is under construction. Features may change. 🚧 New tools in development. Thanks for your patience! ✨

etf

Gold ETF Guide 2026: GLD vs IAU vs SGOL Compared

Side-by-side comparison of the three largest physically-backed gold ETFs — expense ratios, custodians, tax treatment and which fits each investor type.

6 min read · Last reviewed 6/23/2026

Gold ETF Guide: GLD vs IAU vs SGOL

| ETF | Sponsor | Expense | Custody | |-----|---------|---------|---------| | GLD | State Street/WGC | 0.40% | HSBC London | | IAU | iShares | 0.25% | JPMorgan | | SGOL | abrdn | 0.17% | Brink''s |

How to choose

SGOL is cheapest; GLD has the tightest spreads and largest options market; IAU is the best balance for long-term holders.

US tax treatment

Physically-backed gold ETFs are taxed as collectibles at a max 28% long-term rate — not the 20% standard equity rate.

Alternatives

GDX (miners), GDXJ (junior miners), PHYS (Sprott physical, redeemable).

Frequently asked

Are gold ETFs backed by real gold?: GLD, IAU and SGOL are 100% physically backed by allocated London Good Delivery bars, audited twice yearly.
Cheapest gold ETF?: SGOL at 0.17%, then IAU at 0.25%, then GLD at 0.40%.