Best Gold ETF in Australia (2026)
Gold ETFs hold physical gold bullion in a vault, so the price tracks gold itself.
Of the 5 ETFs we compared, PMGOLD has the lowest fee (0.15% a year) and GOLD is the largest ($5.8bn). PMGOLD had the best five-year return, +19.9% a year. Over 1 year, GXLD tracked its index most closely after fees. The right one depends on your goals: read what to consider below.
Data to 30 September 2026 from the TMX Australia funds report. Returns include distributions. General information only, not a recommendation.
All the options compared
Physical gold ETFs
| Code | ETF | Fee | Size | 1Y | 5Y a year | Spread |
|---|---|---|---|---|---|---|
| GOLD | Global X Physical GoldLargest | 0.40% | $5.8bn | +1.7% | +19.6% | 0.04% |
| PMGOLD | Perth Mint GoldLowest feeBest 5Y | 0.15% | $2.4bn | +1.9% | +19.9% | – |
| GXLD | Global X Gold Bullion ETF | 0.15% | $766m | +1.9% | – | 0.05% |
| GLDN | iShares Physical Gold ETF | 0.18% | $458m | +1.8% | – | 0.05% |
Currency-hedged
Tracks the US dollar gold price, without the effect of the Australian dollar.
| Code | ETF | Fee | Size | 1Y | 5Y a year | Spread |
|---|---|---|---|---|---|---|
| QAU | Betashares Gold Bullion Currency Hedged ETF | 0.59% | $1.2bn | +6.3% | +16.8% | 0.05% |
Compare the biggest side by side → · Check how much they overlap →
Spread is the average gap between the buy and sell price: lower is cheaper to trade. 5Y a year is the average yearly total return over five years. Past performance is not a reliable indicator of future performance.
How closely each gold ETF tracks its index
An index fund should return its index, less its fee. The gap below is each fund's return after fees minus its own benchmark. A gap close to zero means it has done its job well. Over 1 year, GXLD tracked its index most closely, trailing it by only 0.13% a year.
| ETF and benchmark | Fee | 1Y gap | 3Y gap a year | 5Y gap a year | Verdict |
|---|---|---|---|---|---|
| GXLDSolactive Gold Spot London Close Index | 0.15% | -0.13% | – | – | Tracking well |
| GOLDSpot gold price (AUD) | 0.40% | -0.39% | -0.50% | -0.47% | Tracking well |
Gap = fund return after fees minus its benchmark. Issuer figures to November 2026. Hedged funds are measured against the hedged version of their index. Funds without published benchmark figures are left out. See every ETF vs its benchmark →
What to consider
- No income. Gold pays no distributions, so returns come only from the price.
- Fees vary from 0.15% to 0.59% for much the same exposure.
- Hedged vs unhedged. Unhedged gold has often risen when the Australian dollar falls.
- Want more options? See every gold and precious metals ETF, including gold miners.
