At a glance
GLTR charges 0.6% a year, above the 0.21% average of the 7 funds most like it (the most expensive of 7). It has $2.46B in assets, the 8th largest of that group. Over the past year it returned +3.7% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds; over three years it returned +25.7% a year. At its worst it fell 23.3% in the 2020 crash (S&P 500: 33.7%) and 26.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 20 months after the lows.
The short version
abrdn Physical Precious Metals Basket Shares ETF (GLTR) is a grantor trust that holds physical gold, silver, platinum and palladium in vaults. Its goal is to track the prices of those four metals, minus expenses. Most funds it gets compared with hold only gold, so its four-metal mix is what sets it apart. The trade-off is cost: its 0.60% sponsor fee is the highest of eight comparable physical-metal funds, which average 0.21%.
Price history
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GLTR +3.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GLTR price data to Oct 27, 2026 | -14.3% | +3.7% | +25.7% | +14.4% | +10.9% | +5.4% |
- Over the year to Oct 27, 2026, GLTR returned +3.7%, 1st of 8 among similar funds.
- Its 5-year annualized return was +14.4% and its 10-year +10.9%.
- In the 2020 COVID crash it fell 23.3% and regained its old high 3.8 months after the low.
- Its worst full calendar year was 2013 (-28.8%); its best was 2025 (+87.3%).
- The deepest fall in its price history was 55.7% (Aug 22, 2011 to Dec 17, 2015), recovered by Oct 18, 2024.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -14.3% |
| 2025 | +87.3% |
| 2024 | +20.6% |
| 2023 | +2.0% |
| 2022 | -0.3% |
| 2021 | -9.6% |
| 2020 | +29.5% |
| 2019 | +21.0% |
| 2018 | -2.9% |
| 2017 | +12.9% |
| 2016 | +10.1% |
| 2015 | -14.1% |
| 2014 | -7.8% |
| 2013 | -28.8% |
| 2012 | +7.6% |
| 2011 | -2.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 17.9% over that stretch · deepest drop along the way 23.3%, back to its old high 3.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 7.3% over that stretch · deepest drop along the way 26.3%, back to its old high 19.7 months after the low |
What's inside
The trust holds physical gold, silver, platinum and palladium directly, worth $2.46B as of Jun 30, 2026 (per its 10-Q). It does not hold stocks or bonds, so there is no holdings list.
How it works
GLTR does not follow an index and has no manager choosing investments. The abrdn Precious Metals Basket ETF Trust owns gold, silver, platinum and palladium bullion in an agreed proportion. Its goal is for the shares to reflect the prices of those metals, less the trust's expenses. Each share is a fractional ownership interest in the metal the trust holds. The trust does not use futures or other derivatives. It also does not try to profit from price swings or soften them.
Shares are created and redeemed in blocks called baskets. Since June 18, 2024, a basket has been 25,000 shares. Large brokers, called authorized participants, deliver metal to the trust in exchange for a basket, or hand back a basket to receive metal. ICBC Standard Bank Plc holds the bullion as custodian, and The Bank of New York Mellon is the trustee. During creations and redemptions, small amounts of metal can sit briefly in an unallocated account. That metal is not kept separate from the custodian's own assets.
The trust pays its 0.60% sponsor fee by delivering metal, so the amount of bullion behind each share slowly shrinks over time. It is a grantor trust, not an investment company registered under the Investment Company Act of 1940, so it lacks some protections that most mutual funds and ETFs have.
What it really costs
- GLTR charges 0.6% a year, versus an average of 0.21% for the similar funds below (7th of 7, cheapest first).
Structure and tax notes
- Structured as a grantor trust registered under the Securities Act of 1933, not as a 1940 Act investment company, so it lacks some fund-specific investor protections.
- Physically backed precious-metal trusts are taxed like the metal itself: in the US, long-term gains can be taxed at the collectibles rate of up to 28% rather than the usual capital-gains rates.
In a retirement portfolio
GLTR holds four precious metals instead of stocks or bonds, but it is volatile and has not reliably held up when stocks fell.
GLTR adds a type of asset that often moves differently from stocks and bonds. It has not been a dependable cushion in sell-offs, though. In the 2020 COVID crash it fell 23.3% between February 24 and March 19, 2020, and had recovered by July 13. In 2022 it fell 26.3% between March and September and took 19.7 months to recover. The fund launched in 2010, so it has no record from the 2008 crisis. Its worst calendar year was 2013, down 28.8%. Its deepest drop was 55.7%, from August 2011 to December 2015, and it took 106 months to recover. Anyone who had to sell during a stretch like that would have locked in losses. It pays no income, so any cash has to come from selling shares. Its 0.60% fee is high next to gold-only trusts. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want gold, silver, platinum and palladium in one holding instead of buying separate funds or storing bars and coins themselves.
- Those who want physical metal held in vaults by a custodian, with no futures or other derivatives involved.
- Holders who can sit through steep swings, such as a 55.7% drop from 2011 to 2015 that took 106 months to recover.
Look elsewhere if
- Cost-conscious investors happy with gold alone: GLDM charges 0.10% and SGOL 0.17%, compared with GLTR's 0.60%.
- Anyone who needs income from a holding: the trust has recorded no distributions, so taking money out means selling shares.
- Taxable-account investors who want to avoid the collectibles rate, which can tax long-term gains at up to 28% in the US.
Close alternatives
Matched by other funds that hold gold directly.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| GLTR this fund | 0.6% | $2.46B | +3.7% | +25.7% |
| GLD SPDR Gold Shares | 0.4% | $130.10B | -1.8% | +25.2% |
| IAU iShares Gold Trust | 0.25% | $60.11B | -1.6% | +25.4% |
| GLDM SPDR Gold MiniShares Trust | 0.1% | $27.30B | -1.5% | +25.6% |
| PHYS Sprott Physical Gold Trust | — | $10.70B | +2.4% | +25.4% |
| SGOL abrdn Physical Gold Shares ETF | 0.17% | $6.74B | +1.7% | +26.3% |
| IAUM iShares Gold Trust Micro ETF of Benef Inter… | 0.09% | $6.31B | +1.8% | +26.4% |
| OUNZ VanEck Merk Gold ETF | 0.25% | $2.54B | +1.6% | +26.2% |
Questions investors ask
Does GLTR pay dividends?
No. GLTR has recorded no distributions. The trust holds only physical gold, silver, platinum and palladium, and metal pays no interest or dividends. The trust also sells or delivers small amounts of metal to pay its 0.60% sponsor fee, so the bullion behind each share shrinks slowly over time. Anyone who wants cash from GLTR has to sell shares, which may mean selling after prices have fallen.
What metals does GLTR hold?
GLTR holds four precious metals: gold, silver, platinum and palladium, in an agreed proportion set by the trust. It does not own mining stocks, futures or other derivatives. ICBC Standard Bank Plc stores the bullion as custodian, and The Bank of New York Mellon is the trustee. The trust's goal is for its shares to reflect the prices of those metals in the proportions it holds, less expenses. Net assets were about $2.46 billion as of June 30, 2026.
What's the difference between GLTR and SGOL?
Both are physical-metal trusts from abrdn, but SGOL holds only gold, while GLTR adds silver, platinum and palladium. That makes them different strategies, not like-for-like substitutes. SGOL charges 0.17% a year and GLTR charges 0.60%. As of October 27, 2026, GLTR returned 3.7% over one year versus 1.7% for SGOL. Over three years, GLTR averaged 25.7% a year and SGOL 26.3%. SGOL is also larger, with $6.74 billion in net assets as of June 30, 2026, versus GLTR's $2.46 billion.
Is GLTR a good investment for retirement?
That depends on the role it plays. GLTR may suit someone who wants a small slice of precious metals alongside stocks and bonds, but it pays no income and swings sharply. One-year volatility was 41.2% as of October 27, 2026. Its deepest drop, 55.7% starting in August 2011, took 106 months to recover. It was down 14.3% for 2026 through October 27, after rising 87.25% in 2025. Past results don't predict future returns.
How is GLTR taxed?
GLTR is a grantor trust that holds physical metal, so in the US it is taxed as if you owned the metal yourself. That means long-term gains can be taxed at the collectibles rate of up to 28%, rather than the usual long-term capital-gains rates that apply to most stock ETFs. Because the trust is not registered under the Investment Company Act of 1940, it also lacks some protections that fund investors usually have. A tax professional can explain how this applies to a particular account.