SPDR Gold MiniShares Trust (GLDM)
A lower-cost way to stay exposed to gold in 2026
Gold had an exceptional run in 2025, up more than 60% through mid-December, marking one of its strongest calendar years in over a century. What stands out is that this surge did not come during a market panic or runaway inflation. Stocks were higher, risk appetite was healthy, and inflation, while sticky, stayed relatively contained. That tells us gold’s role right now is less about fear and more about diversification and volatility protection.
If gold continues to earn a place in portfolios heading into 2026, the biggest decision is not whether to own it, but how to own it efficiently. Since spot gold ETFs all hold physical bullion and track the same underlying asset, costs matter more than brand recognition. Lower fees translate directly into better long-term returns.
That is where SPDR Gold MiniShares Trust comes in. GLDM was designed as a cheaper alternative to the flagship SPDR Gold Trust, and the difference is meaningful. GLDM carries an expense ratio of just 0.10%, compared with 0.40% for its larger sibling. Over time, that gap compounds, especially for investors using gold as a long-term portfolio hedge rather than a short-term trade.
Liquidity is not a concern here. GLDM has attracted more than $25 billion in assets and trades with very tight spreads, making it easy to enter and exit positions without giving up much to frictional costs. Structurally, it does exactly what a gold ETF should do: track the price of physical gold stored in vaults, without leverage or added complexity.
Shares of GLDM trade around $86, making it accessible for investors who want flexibility in position sizing while keeping fees low. If gold continues to serve as a stabilizer in an uncertain macro environment, GLDM looks like a clean, cost-conscious way to maintain that exposure into 2026.
