Gold was first traded in exchange as a product in 1961 by the Central Fund of Canada. The notion to offer gold ETFs was introduced in India in May of 2002 by Benchmanrk Asset Management Company Private Ltd. to the Securities Exchange Board of India where the proposal was first filed.
After five years, it finally received regulatory approval. A list of ETFs was started on March 28, 2003, when Gold Bullion Securities were listed on the Australian Stock Exchange.
Today the top ten Gold ETFs are as follows:
1. GLD – SPDR Gold Trust Holdings is issued by State Street and tracks the Gold Bullion Index. The expense ratio is 0.40%.
2. IAU – COMEX Gold Trust is an ETF with an expense ratio of .25%, issued by iShares and tracking with the Gold Bullion index. The third on the list is SGOL – Physical Swiss Gold Shares Profile, issued by ETF Securities and 3. tracks on the Gold Bullion Index at an expense ratio of .39%.
4. DGP – DB Gold Double Long ETN is issued by Invesco. United States three month T Bills are used as a indicator against DGP along with the Deutch Bank Liquid Commodity Index.
5. DGL- DB Gold Fund Profile is also by Invesco, tracking as DGL on the DBIQ Optimum Yield Gold index Excess Return, Index. It is a rules-based index and reflects the performance of gold.
6. Gold ETF is UGL – Ultra Gold is issued by ProShares and tracks on the Gold Bullion index. The ProShares Ultra Gold has an expense ratio of .95%. This ProShares Ultra Gold looks for daily investment results before all fees and is measured against the U.S. dollar.
7. GLL – UltraShort Gold is issued by ProShores and tracks on the Gold Bullion indues with an expense ratio of .95%. Since this is issued by ProShares, UltraShort Gold looks for daily results before any fees are charged and is measured against the U.S. dollar.
8. DZZ – DB Gold Double Short ETN profile, which is issued by invest and tracks on the index of Deutsche Bank Liquid Commodity Index-Optimum Yield Gold. This index is made to show gold performance futures contracts as invested in three month US T Bills.
9. AGOL – Physical Asian Gold Shares is issued by ETF Securities and tracks this index against the Gold Bullion with an expense ration at .39%. This ETF tracks the spot price of gold bullion.
10. DGZ – DB Gold Short ETN is issued by Invesco and this tracks the index of Deutsche Bank Liquid Commodity Index- Optimum Yield Gold. This index will show the performance level of gold futures. The comparison is made against three month US T Bills.
When dealing in Gold ETFs a typical trade fee is .4% that is billed per trade. There is also a storage fee assessed on an annual basis. Annual expenses involve insurance, management fee and storage. These fees are usually paid by selling a small percentage of Gold per share.
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