Performance data is updated to 31 May 2026.
Global X Gold Bullion (Currency Hedged) ETF (GHLD) — Review & Analysis
GHLD is Global X's currency-hedged answer to Betashares' QAU — physical gold with the AUD/USD overlay neutralised. The 0.35% p.a. fee is meaningfully cheaper than QAU's 0.59%, making GHLD the lower-cost option for investors who want pure gold price exposure without currency noise. AUM is $304.46 million. Compare GHLD against the full gold cohort on our commodities and resources ETF page.
The hedged vs unhedged decision for gold matters more than for most assets because gold prices globally in USD. Unhedged ETFs like GOLD and GXLD deliver gold price plus FX; GHLD and QAU deliver just the gold move.
When the USD strengthens against AUD, unhedged gold typically outperforms hedged. When the AUD strengthens, hedged products win. The 24bp fee saving of GHLD over QAU compounds materially over a 10-20 year holding period.
GHLD works for investors who already hold significant unhedged USD assets and want gold without doubling up on FX exposure, or for those running formal currency overlays. The every currency-hedged ETF guide covers the full hedged universe across asset classes.
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Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| QAU | Gold Bullion Currency Hedged ETF | +34.36% |
| MNRS | Betashares Global Gold Miners Currency Hedged ETF | +78.44% |
| GOLD | Global X Physical Gold | +22.27% |
| PMGOLD | Perth Mint Gold | +22.50% |
| ETPMAG | Physical Silver | +103.79% |
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Last updated: January 2026
