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.
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