US-listed · NYSE Arca · FIF-eligible (above NZ$50K)
iShares IAU iShares Gold Trust
Physical gold bullion exposure backed by allocated gold held in vaulted storage. iShares low-cost alternative to GLD.
Updated Reviewed quarterly
About this fund
What is IAU?
IAU is the US-listed ticker for iShares Gold Trust, issued by iShares. Physical gold bullion exposure backed by allocated gold held in vaulted storage. iShares low-cost alternative to GLD. TER is 0.25% per year.
IAU does not distribute. Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy IAU 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 IAU taxed for NZ investors?
IAU 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.
Similar ETFs
ETFs with similar focus to IAU
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| FNZ | NZ Top 50 (FNZ) Smartshares · NZX | 0.52% | 3.8% | Quarterly | PIE | IAU vs FNZ |
| NZ20 | Kernel NZ 20 Kernel · NZX | 0.29% | 3.2% | Quarterly | PIE | IAU vs NZ20 |
| TNZ | NZ Top 10 (TNZ) Smartshares · NZX | 0.60% | — | Quarterly | PIE | IAU vs TNZ |
| MZY | NZ Mid Cap (MZY) Smartshares · NZX | 0.75% | — | Quarterly | PIE | IAU vs MZY |
| KSC | Kernel NZ 20 (KSC) Kernel · NZX | 0.25% | — | Quarterly | PIE | IAU vs KSC |
Distribution history
Last 12 distributions — IAU
IAU does not pay distributions. Returns are reflected in the unit price (accumulating). There is no distribution-payment history to display.
What is the iShares Gold Trust (IAU)?
IAU is an exchange-traded fund issued by iShares (BlackRock) that holds physical gold bullion in vaulted storage. Each share represents approximately 1/100th of a troy ounce of gold — much smaller per-share than GLD's ~1/10th oz, which makes IAU more accessible at lower trade sizes.
Launched in 2005, IAU sits at 0.25% TER — meaningfully cheaper than the more famous GLD (0.40%). The trust holds fully-allocated gold (specific bars identified to the trust, not pooled with other holdings), custodied by JPMorgan Chase Bank with sub-custody in London and other major bullion centres. Independent inspectors audit the holdings.
IAU's market price tracks the spot gold price closely. Authorised participants arbitrage any gap between the share price and the underlying NAV, keeping tracking error tight before TER. See iShares' published tracking-error history for the current period figure.
IAU vs GLD vs GLDM — the cost picture
Three mainstream physical-gold ETFs cover most NZ investor demand. They all do roughly the same thing — hold vaulted gold and track the spot price — but at different TERs.
| ETF | Issuer | TER |
|---|---|---|
| IAU | iShares (BlackRock) | 0.25% |
| GLD | SPDR (State Street) | 0.40% |
| GLDM | SPDR (State Street) | 0.10% |
Bottom line: GLDM is the cheapest. IAU is the most-liquid low-cost option. GLD has the deepest market but the highest TER. For NZ buy-and-hold investors who care about cost, GLDM and IAU both materially beat GLD over multi-decade holds.
NZ tax treatment of IAU
IAU is US-domiciled, so NZ tax residents holding more than NZ$50,000 (source) (cost-basis) in overseas-share investments must apply Foreign Investment Fund (FIF) rules. Because IAU pays no dividends (gold has no cash flow), the FIF calculation is simpler than for income-producing US ETFs:
- FDR method (default): 5% × opening market value × your marginal rate. So on a NZ$80,000 IAU holding at top marginal rate (33%): NZ$80K × 5% × 33% = NZ$1,320 in annual FIF tax, regardless of what gold actually does that year.
- CV method (alternative): Tax on the actual gain if it's less than 5%. Useful when gold has a flat or down year, where FDR would over-tax. You can elect CV on a year-by-year basis.
- No US withholding tax — gold pays no dividend, so the 30% (source) / 15% (source) W-8BEN regime doesn't apply.
- No PIE wrapper available — IAU is US-domiciled. The only NZ-PIE gold exposure available is via Smartshares' GLDM-derivative wrapper (where listed) or a managed fund. For most NZ gold investors, direct US-listed (IAU / GLDM) is the practical route.
See FIF tax explained for the full mechanics, and FDR vs CV method for when to elect each.
How to buy IAU from New Zealand
IAU is NYSE Arca-listed, accessible via every NZ platform that offers US-market access:
- Hatch — flat US$3/trade + 0.5% FX. Lowest per-trade brokerage on US ETFs.
- Interactive Brokers — tiered per-share US trade pricing + the lowest published FX margin of platforms reviewed. Cheapest at scale; steeper learning curve. See IBKR review for the current rate-card.
- Sharesies — 1.9% brokerage capped at US$5 on US trades + 0.5% FX. Fractional shares supported, NZ$0 minimum. Useful for small regular purchases.
- Tiger Brokers, Stake — additional US-market options with competitive fees.
See all NZ investment platforms for full fee comparison.
FAQ
Common questions about IAU
What is the IAU ETF? ⌄
IAU is the iShares Gold Trust — it holds physical gold bullion in vaulted storage on behalf of shareholders. One share represents a fractional ounce of gold (currently ~1/100th of an ounce, much smaller than GLD's ~1/10th oz per share). TER is 0.25%. No distributions are paid because gold doesn't generate income. Suited to investors wanting allocated gold exposure without storing bullion personally.
IAU vs GLD — what's the difference? ⌄
Both hold physical gold bullion in vaulted storage; both are auditable; both track the spot gold price closely. IAU (iShares) charges 0.25% TER vs GLD (SPDR) at 0.40%. Over 30 years on a NZ$10,000 holding the cost difference is roughly NZ$450 in foregone gold ounces. GLD has higher liquidity and tighter bid-ask spreads — meaningful for traders. For NZ buy-and-hold investors, IAU typically wins on cost.
Can NZ residents buy IAU? ⌄
Yes. IAU is available via Hatch, Stake, Sharesies (US market), Tiger Brokers and Interactive Brokers. As a commodity ETF with no distributions, the only NZ tax consideration is FIF (above NZ$50,000 cost basis): use the FDR method (5% × opening market value × marginal rate). Note FDR taxes the deemed return regardless of actual price movement — flat-gold years still cost 5% × MV in tax.
IAU vs SIVR or AAAU — gold/silver alternatives? ⌄
IAU is gold; SIVR (Aberdeen Standard Physical Silver) is silver — historically lower correlation to equities than gold but higher volatility. AAAU (Aberdeen Standard Physical Gold) is another low-cost physical gold alternative — verify current TER on the issuer fact sheet. For a precious-metals allocation, IAU is a low-cost gold option; consider SIVR alongside for silver diversification.
Does IAU pay dividends? ⌄
No. Gold doesn't generate income — it has no cash flow, no interest, no dividend. IAU reflects the gold price movement only. Your entire return comes from price appreciation (or depreciation) in the underlying gold. This makes the FIF tax calculation simpler than for income-producing US ETFs (no withholding tax to worry about, no Form W-8BEN reclaim).
Where is IAU's gold stored? ⌄
IAU's gold is held in vaults operated by JPMorgan Chase Bank (London), with sub-custody arrangements that allow gold to be held in vaults in other major bullion centres. The gold is fully allocated (specific bars identified to the trust) and audited by independent inspectors. The full custodial arrangement is disclosed in IAU's annual report.
Is IAU a safer way to own gold than physical bullion? ⌄
It's a different kind of safety. IAU eliminates the storage / insurance / theft risk you face holding physical bullion at home or in a safety deposit box. In exchange you take on counterparty risk (the custodian + the trust structure). Physical gold in your own possession has no counterparty risk, but does have physical-loss risk. Most NZ investors holding gold for portfolio diversification (not doomsday hedging) prefer the ETF route.
IAU vs GLDM — both low-cost iShares / SPDR gold options? ⌄
GLDM (SPDR Gold MiniShares) is SPDR's lower-cost gold ETF at 0.10% TER — cheaper than IAU's 0.25%. GLDM is the cheapest mainstream US-listed physical gold ETF. IAU has more AUM and tighter spreads. For pure cost minimisation, GLDM. For balance of cost + liquidity + AUM, IAU is the middle-ground choice.
Is gold a good NZ portfolio hedge in 2026? ⌄
Gold's traditional roles are inflation hedge, USD hedge, and equity-crash diversifier. Whether it has worked depends on the window — gold outperformed during the 2020-2024 inflation cycle but underperformed equities over most 20-year periods. NZ investors typically hold 0-10% in gold as a portfolio diversifier rather than a return-driver. As always, consult a licensed financial adviser about your specific allocation.
Where to buy IAU from New Zealand
The platforms below all support IAU. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Hatch 
Sharesies 
Interactive Brokers 
Stake 
Tiger Brokers Fees + platform details verified against each provider's published rate card. Always check the current schedule before transacting. Full platform comparison →
Sources for this IAU data
Every TER, yield, and holdings figure on this page traces to one of the documents below. We do not pull live prices; the data is reviewed monthly against issuer fact sheets and exchange listings (last reviewed 2026-05-25).
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Related ETFs and resources
GLD — SPDR Gold Shares
Higher-liquidity physical gold alternative; higher TER (0.40% vs IAU 0.25%).
GDX — VanEck Gold Miners
Operational gold-mining exposure; higher volatility than physical gold.
SIVR — Aberdeen Physical Silver
Silver diversifier for a precious-metals sleeve.
FIF tax explained
How commodity ETFs are taxed under FIF (no dividend complications).
