ETF Versus

GLD vs IEMG

SPDR Gold Shares vs iShares Core MSCI Emerging Markets ETF

Last updated: 2026-04-02

GLD State Street

SPDR Gold Shares (GLD) is an exchange-traded fund issued by State Street that provides exposure to gold securities. It charges an above-average expense ratio of 0.40%. Launched in 2004, the fund has a 22-year track record.

AUM: $151.9B ER: 0.40% Yield: 0.00% Since: Nov 18, 2004
IEMG iShares

iShares Core MSCI Emerging Markets ETF (IEMG) is an exchange-traded fund issued by iShares that provides exposure to stocks in emerging market economies with higher growth potential. It charges a low expense ratio of 0.09%. The fund offers an attractive dividend yield of 2.63%. Launched in 2012, the fund has a 14-year track record.

AUM: $132.2B ER: 0.09% Yield: 2.63% Since: Oct 18, 2012

Quick Verdict

IEMG is significantly cheaper at 0.09% vs 0.40% expense ratio, saving you approximately $607 per $10,000 invested over 10 years. Over the past year, GLD has significantly outperformed with a 52.3% return vs 29.6%. Income investors may prefer IEMG for its higher yield (2.6% vs 0.0%).

Key Metrics

Metric GLD IEMG
Expense Ratio 0.40% 0.09%
Dividend Yield 0.0% 2.6%
Fund Family State Street iShares
Category Gold Emerging Markets

Performance Chart

Indexed to 100 at start (5-year comparison)

65 111 157 203 249 295 2021-04 2022-06 2023-09 2024-12 2026-04
GLD +170.4%
IEMG +7.7%

Performance Comparison

Period GLD IEMG Difference
1 Month -10.65% -6.83% -3.82%
3 Months +9.93% +1.86% +8.07%
6 Months +22.42% +5.01% +17.41%
YTD +9.93% +1.86% +8.07%
1 Year +52.25% +29.64% +22.61%
3 Years +137.25% +43.63% +93.62%
5 Years +170.39% +7.71% +162.68%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period GLD Fees IEMG Fees You Save
$10.000 10 years $786 $179 $607
$10.000 20 years $3.334 $771 $2.563
$10.000 30 years $10.601 $2.486 $8.115
$50.000 10 years $3.932 $896 $3.036
$50.000 30 years $53.003 $12.428 $40.575
$100.000 30 years $106.005 $24.855 $81.150

Risk Metrics

Based on 5 years of daily returns

Metric GLD IEMG
Annualized Volatility 17.8% 18.1%
Max Drawdown -21.0% -38.5%
Sharpe Ratio 0.96 -0.08

Dividend Comparison

Metric GLD IEMG
Annual Dividend (per share) $0.00 $1.85
Dividend Yield 0.00% 2.63%
Distribution Frequency None Semi-Annual or Annual

Top Holdings

IEMG Top Holdings

NameWeight
Taiwan Semiconductor Manufacturing Company Limited!tpe/233011.60%
Samsung Electronics Co., Ltd.!krx/0059304.66%
Tencent Holdings Limited!hkg/07003.32%
SK hynix Inc.!krx/0006602.75%
Alibaba Group Holding Limited!hkg/99882.22%
China Construction Bank Corporation!hkg/09390.82%
Delta Electronics, Inc.!tpe/23080.76%
HDFC Bank Limited!nse/HDFCBANK0.75%
Reliance Industries Limited!nse/RELIANCE0.71%
Hon Hai Precision Industry Co., Ltd.!tpe/23170.65%

Which One Should You Choose?

Choose IEMG if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose GLD if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose IEMG if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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