Performance
Total return to 23 Oct 2026, distributions reinvested, before franking. ASX figures are to 30 Sept 2026 and gross of franking, so they run higher for franked Australian funds.
What it costs to hold
Management fee plus trading costs, compared with similar funds.
A typical fund among commodity funds would cost $241 (0.48% a year), so GLDN is $145 cheaper.
Spread is the average gap between buying and selling prices on the ASX. Fees are shown on a flat balance, not compounded on growth. Excludes tax and any adviser or platform fees.
Calendar-year returns
Where the money is
Look-through exposure as at 2 Sept 2026 · 1 securities · top 10 = 100.0%
Country
Sector
Monthly returns
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.6 | −2.5 | −8.3 | −3.7 | −1.8 | −8.1 | 0.1 | 6.5 | −3.2 | −4.5 | −12.2YTD | ||
| 2025 | 7.6 | 2.3 | 7.6 | 4.2 | −0.8 | −2.1 | 1.7 | 2.1 | 12.6 | 3.9 | 5.0 | 1.6 | 55.1 |
| 2024 | 2.3 | 0.7 | 7.9 | 5.9 | −0.9 | −0.8 | 6.3 | −0.9 | 3.7 | 10.7 | −3.6 | 2.4 | 38.2 |
| 2023 | −2.3 | −1.9 | −4.1 |
Total return each month in %, distributions reinvested, before franking. The latest month runs to the last price date. The first year starts from listing.
Top holdings
Most similar funds
Overlap is the share of the portfolio held in common, look-through. Correlation is of daily returns. High overlap means close substitutes.
GLDN questions answered
Written from the latest data on this page. General information only, not financial advice.
How diversified is iShares Physical Gold ETF?
iShares Physical Gold ETF holds 1 securities.
Its country exposure is almost entirely Ireland (100.0%), based on holdings as at 2 Sept 2026.
Which ETFs does GLDN double up with most?
No other ASX fund shares more than 10% of its holdings with GLDN, but its returns move most closely with Perth Mint Gold (PMGOLD) (correlation 0.98), Global X Physical Gold (GOLD) (correlation 0.97) and Global X Gold Bullion ETF (GXLD) (correlation 0.95). A correlation near 1 means the two funds tend to rise and fall together, so holding both adds little diversification.
How is iShares Physical Gold ETF managed – active or passive?
iShares Physical Gold ETF is passively managed: it follows an index and holds what that index holds, rather than relying on a manager's stock picks.
What will I pay in fees for GLDN?
GLDN charges a management fee of 0.18% a year, about $18 for every $10,000 invested. That is cheaper than 87% of the 471 ASX ETFs we track, where the median fee is 0.44%. Among commodity funds, the median is 0.46%.
Lower-cost funds with a similar focus include Perth Mint Gold (PMGOLD) at 0.15% and Global X Gold Bullion ETF (GXLD) at 0.15%.
The fee is taken from the fund's assets and is already reflected in its returns. You'll also pay brokerage when you buy or sell, and the bid-ask spread, which has averaged 0.06% for GLDN.
Does iShares Physical Gold ETF follow a theme?
Yes. iShares Physical Gold ETF focuses on gold. Thematic funds are narrower than the broad market, so they can rise or fall much more than it does.
Other ASX funds with a gold focus include Global X Physical Gold (GOLD), Perth Mint Gold (PMGOLD), VanEck Gold Miners ETF (GDX) and Betashares Gold Bullion ETF (Currency Hedged) (QAU).
What is under the hood of GLDN?
As at 2 Sept 2026, GLDN's largest holding is Ishares Physical Gold Etc (100.0%).
It follows an index; the issuer's PDS sets out how that index chooses and weights its holdings.
How well has iShares Physical Gold ETF performed?
Based on its category, iShares Physical Gold ETF aims to give exposure to commodity prices.
To 23 Oct 2026, with distributions reinvested, it returned −9.6% over 1 year (median −4.0%; ranked 9 of 10). The medians and rankings compare it with commodity funds. Since listing in 2023 it has returned 22.1% a year.
Tracking difference is the gap between a fund's return and its index's return. We don't hold index returns, so we can't measure it for GLDN; the issuer reports it in the monthly fact sheet. As a guide, a well-run index fund trails its index by about its fee, here 0.18% a year, and a much bigger gap is a warning sign.
Past performance is not a reliable indicator of future performance.