The largest bullion-backed ETF has seen its assets cut in half from its 2011 peak due to a combination of tumbling gold prices and investor redemptions.
SPDR Gold Shares (GLD) in 2011 briefly surpassed SPDR S&P 500 (SPY) as the biggest ETF in the world. [Can Gold Fund Reclaim Title of World’s Largest ETF?]
In August 2011, GLD’s assets topped out at $77.5 billion. The gold fund currently holds $38.5 billion.
GLD is down about 23% for the trailing three months. The fund has experienced net outflows of $18.2 billion year to date, according to IndexUniverse data.
The gold fund has fallen to fifth place among the largest ETFs. SPY is currently the biggest by a wide margin with about $133 billion.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD and SPY.
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.
- SPDR Gold Shares