Gold vs US equity
GLD vs VTI historical comparison
Compare a physical gold fund against a total US market fund, including gold's distinct tax treatment.
Modeled result
From 2005 to 2025, GLD finished ahead of VTI before tax.
Historical model
Growth of $10,000
2005-01-03 to 2025-12-31
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All history
Chart window
GLD
Gold (GLD)
- Ending value
- $92,122
- CAGR
- 11.16%
- Max drawdown
- -45.56%
VTI
US total market (VTI)
- Ending value
- $83,622
- CAGR
- 10.65%
- Max drawdown
- -55.45%
Pre-tax results only. The collectibles rate on physical-gold fund gains is not included in this comparison.
Detailed metrics
Assumptions
$10,000 lump sum; distributions reinvested; monthly rebalancing; 2005-01-03 to 2025-12-31.
FAQ
Why is gold taxed differently from stocks?
The tax code treats a fund that holds physical gold as a collectible. Long-term gains on collectibles can face a rate of up to 28%. That rate is higher than the normal long-term capital gains rate on stock funds.
Does GLD pay dividends?
No. GLD holds physical gold, which produces no income, so its entire return comes from the change in the gold price. There is no yearly dividend distribution to tax in a taxable account.