State Street Debuts Gold ETF ‘MiniShares’

The World Gold Council and State Street Global Advisors rolled out a miniature version of the $33.6 billion SPDR Gold Trust (GLD). The SPDR Gold MiniShares Trust (GLDM) represents the value of 1/100 of an ounce of gold. The new gold ETF comes with an expense ratio of 0.18%, while GLD charges 0.40%. Like GLD, GLDM lists on the NYSE Arca. GLDM’s lower handle means the fund will be more accessible to smaller investors, who might balk at the high share price of GLD, which tracks the price of a full ounce of gold.