Updated Reviewed quarterly
GLD ETF: SPDR Gold Shares
TER0.40%·Yield (TTM)0.0%·DistributionNone·NZ taxFIF (US-domiciled, > NZ$50K cost-basis)
The world's largest physically-backed gold ETF. Own gold without the hassle of storage, insurance, or security concerns.
GLD Key Stats (2026)
What is GLD ETF?
SPDR Gold Shares (GLD) is an exchange-traded fund that holds physical gold bullion in secure vaults. Each share represents approximately 1/10th of an ounce of gold.
Launched in 2004, GLD was the first US-listed gold ETF and remains the largest. The gold is stored in HSBC's London vault and is regularly audited.
Why Investors Hold Gold
- • Inflation hedge: Gold often rises when currencies lose purchasing power
- • Portfolio diversification: Low correlation with stocks and bonds
- • Safe haven: Tends to hold value during market crashes
- • Currency hedge: Protects against NZD weakness
GLD vs Physical Gold vs GLDM
| Feature | GLD | GLDM | Physical Gold |
|---|---|---|---|
| Annual Cost | 0.40% | 0.10% | Storage + Insurance |
| Liquidity | Excellent | Good | Poor |
| Minimum investment | 1 share (fractional via Sharesies/Hatch) | 1 share (lower per-unit price than GLD) | 1 troy ounce at spot gold price |
| Counterparty Risk | Custodian | Custodian | None |
| Can Hold in Hands | No | No | Yes |
For most NZ investors: GLDM (SPDR Gold MiniShares) offers the same physical gold exposure as GLD but with a materially lower TER and lower per-share price, making it more accessible. Verify the current TER on each issuer fact sheet before deciding.
How to Buy GLD from New Zealand
Choose Your Platform
GLD and GLDM are available on Hatch, Stake, Sharesies, and Interactive Brokers. All offer access to US-listed ETFs.
Decide: GLD or GLDM?
GLDM has a lower TER and a lower per-share price than GLD. For most NZ buy-and-hold investors, GLDM is the more cost-efficient option; GLD retains superior liquidity for large institutional trades. Confirm current TERs on each issuer's fact sheet.
Fund & Buy
Deposit NZD, convert to USD, and search for "GLD" or "GLDM". Fractional shares are supported on Sharesies and Hatch, so the per-unit USD price doesn't block smaller orders.
How Much Gold Should You Hold?
Financial advisors typically suggest 5-10% of a portfolio in gold for diversification. Gold doesn't produce income, so it's generally not a core holding but rather a hedge.
5%
Conservative allocation
10%
Moderate allocation
15%+
Aggressive/worried about inflation
NZ Tax Implications for Gold ETFs
Important: GLD is Taxed Differently
Gold ETFs like GLD don't pay dividends, but they're still subject to FIF rules if your total foreign investments exceed NZ$50,000 (source) .
- Under $50k FIF threshold: No tax until you sell (capital gains may apply depending on your situation)
- Over $50k FIF threshold: FDR method taxes 5% of opening value annually, even without selling
Consult a tax advisor for your specific situation, especially regarding the "Fair Dividend Rate" vs "Comparative Value" methods for FIF.
GLD: Pros & Cons
Pros
- Easy way to own gold without storage hassles
- Highly liquid — buy/sell instantly
- Backed by physical gold in vaults
- Portfolio diversification and inflation hedge
Cons
- ✕ No dividends or income
- ✕ 0.40% expense ratio (GLDM is cheaper at 0.10%)
- ✕ Counterparty risk (custodian holds the gold)
- ✕ Can underperform stocks over long periods
Add Gold to Your Portfolio
Compare platforms for buying gold ETFs from New Zealand
Compare PlatformsRelated to GLD
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How to buy US ETFs from NZ
Platforms that support GLD trading.
FIF tax explained
When the FIF regime kicks in (NZ$50K threshold) + how it lands on your IR3.
AUM glossary
Why fund size matters for liquidity.
SPY ETF — broad US equity alternative
S&P 500 large-cap exposure.
Compare NZ investment platforms
11 platforms ranked by fees + market access.
GLD does not distribute. Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy GLD from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 Sharesies Sharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 Hatch Hatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 Stake Stake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive Brokers Interactive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger Brokers Tiger Brokers | US$1.99 per US trade | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Jarden Direct Jarden Direct | NZ$29.90 per NZX trade | ~0.40% | NZ$0 | Larger NZX trades and global market access through one NZ broker |
 ASB Securities ASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is GLD taxed for NZ investors?
GLD is US-domiciled. NZ investors apply Foreign Investment Fund rules once total overseas-share cost basis crosses the de-minimis threshold. Below it, only dividends are taxable.
The FIF de-minimis threshold is NZ$50,000 (source) of overseas-share cost basis. Below it, FIF rules do not apply and only dividends are taxable.
Most NZ retail investors use Fair Dividend Rate (FDR): deemed income = 5% × opening market value × your marginal rate. Comparative Value (CV) can be lower in flat or down years.
FDR vs CV method → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
FAQ
Common questions about GLD
What is the GLD ETF?⌄
GLD is the SPDR Gold Shares ETF — backed by physical gold bullion held in vaults. Each share represents approximately 1/10th of an ounce of gold. ~US$60B AUM, 0.40% TER. Pays no dividends — total return comes entirely from gold-price movement.
How does GLD differ from owning physical gold?⌄
GLD shares trade like stocks, settle in 2 days, and have no storage / insurance overhead. Physical bullion has no counterparty risk and no fund expenses but requires secure storage. GLD's 0.40% TER compounds over decades; physical bullion does not. The two also differ in tax treatment for NZ residents.
Can NZ residents buy GLD?⌄
Yes — via Hatch, Stake, Sharesies (US market), and Interactive Brokers. As a US-domiciled fund, GLD is subject to NZ FIF rules above NZ$50,000 cost base. Because GLD pays no dividends, FIF deemed income (typically 5% of opening market value under FDR) drives the entire NZ tax bill on a static holding.
Is GLD a substitute for fixed income or equities?⌄
Gold has historically had low correlation with both equities and fixed income, which is why some portfolios include a small gold allocation as a diversifier. It is not a yield-bearing asset and historically can underperform equities and bonds for long stretches. Past performance is not indicative of future results; portfolio-fit decisions are individual.
