Top Gold ETFs
The Gold price
Gold is seen as a safe haven by many investors. Especially in financial turmoil, it has shown to stabilise equity/bond portfolios.
An investment in gold is easily done with listed products, like ETFs. These investment products track the spot gold price closely, after taking management fees into account. The advantage of exchange-traded Gold products is the minimal bid-ask spread compared to a direct trade in gold bullion. It is mainly due to the large 12.5kg bullion that are held and traded at fund level. Currently, Gold is tracked by 13 ETFs.
Besides exchange-traded products on Gold in US dollar, there are also currency hedged products in Euro, British Pounds or Swiss Francs available. These products are also considered in our comparison.

Cost of Gold ETFs
The total expense ratio (TER) of Gold ETFs is between 0.15% p.a. and 0.42% p.a.. These costs contain insurance premium, storage costs and additional management fees for the product.
The best Gold ETF by 1-year fund return as of 31/12/2020
1 | ZKB Gold ETF A (EUR) | 13.32% | ||
2 | ZKB Gold ETF A (CHF) | 13.30% | ||
3 | ZKB Gold ETF A (GBP) | 13.28% |
All Gold ETFs ranked by fund return
The largest Gold ETF by fund size in CHF
1 | Invesco Physical Gold A | 12,564 m | ||
2 | ZKB Gold ETF A (CHF) | 3,973 m | ||
3 | ZKB Gold ETF A (USD) | 2,189 m |
All Gold ETFs ranked by fund size
The cheapest Gold ETF by total expense ratio
1 | Invesco Physical Gold A | 0.15% p.a. | ||
2 | UBS ETF (CH) Gold (USD) A-dis | 0.23% p.a. | ||
3 | Xtrackers Physical Gold ETC | 0.25% p.a. |
All Gold ETFs ranked by total expense ratio
[Gold] performance
Gold ETFs in comparison
Besides return, there are further important factors to consider when selecting a Gold ETF. In order to provide a sound decision basis, you find a list of all Gold ETFs with details on size, cost, age, currency hedge, instrument type and collateral ranked by fund size.
Compare all Gold ETFs in detail
Compare all Gold ETFs in a chart
Provider ISIN |
Fund size in m CHF |
TER in % |
Currency hedge | Instrument type | Replication method | |
---|---|---|---|---|---|---|
Invesco Physical Gold AIE00B579F325 | 12,564 | 0.15% p.a. | - | ETC | Physically backed | |
ZKB Gold ETF A (CHF)CH0139101593 | 3,973 | 0.40% p.a. | - | ETF | Physically backed | |
ZKB Gold ETF A (USD)CH0047533549 | 2,189 | 0.40% p.a. | - | ETF | Physically backed | |
UBS ETF (CH) Gold (USD) A-disCH0106027193 | 1,700 | 0.23% p.a. | - | ETF | Physically backed | |
ZKB Gold ETF A (EUR)CH0047533523 | 1,225 | 0.40% p.a. | - | ETF | Physically backed | |
Xtrackers Physical Gold ETCGB00B5840F36 | 966 | 0.25% p.a. | - | ETC | Physically backed | |
iShares Gold (CH)CH0104136236 | 635 | 0.30% p.a. | - | ETF | Full replication | |
Swisscanto ETF Precious Metal Physical Gold USD ACH0044781141 | 542 | 0.41% p.a. | - | ETF | Physically backed | |
Swisscanto ETF Precious Metal Physical Gold USD AXCH0044781257 | 165 | 0.33% p.a. | - | ETF | Physically backed | |
Raiffeisen ETF Solid Gold Ounces A-CHFCH0134034849 | 156 | 0.41% p.a. | - | ETF | Full replication | |
Raiffeisen ETF Solid Gold Ounces A-USDCH0221616417 | 56 | 0.40% p.a. | - | ETF | Full replication | |
ZKB Gold ETF A (GBP)CH0104493298 | 24 | 0.40% p.a. | - | ETF | Physically backed | |
Raiffeisen ETF Solid Gold A-USDCH0134034930 | 16 | 0.42% p.a. | - | ETF | Full replication |
Source: justETF.com; As of 15/01/2021
Return comparison of all Gold ETFs
The table shows the returns of all Gold ETFs in comparison. All return figures are including dividends as of month end. Besides the return the reference date on which you conduct the comparison is important. In order to find the best Gold ETF, you can also perform a chart comparison.
ETF/ETC | 1 month in % |
3 months in % |
6 months in % |
1 year in % |
3 years in % |
|
---|---|---|---|---|---|---|
ZKB Gold ETF A (EUR) | 4.32% | -4.24% | -0.82% | 13.32% | 30.79% | |
ZKB Gold ETF A (CHF) | 4.54% | -3.85% | -0.61% | 13.30% | 30.95% | |
ZKB Gold ETF A (GBP) | 4.15% | -4.10% | -0.88% | 13.28% | 30.15% | |
Invesco Physical Gold A | 3.57% | -4.99% | -1.88% | 13.11% | 30.88% | |
Xtrackers Physical Gold ETC | 3.55% | -5.02% | -1.99% | 13.09% | 30.89% | |
ZKB Gold ETF A (USD) | 4.17% | -4.67% | -1.40% | 13.08% | 30.25% | |
Swisscanto ETF Precious Metal Physical Gold USD AX | 4.61% | -4.24% | -0.94% | 13.00% | 31.13% | |
iShares Gold (CH) | 4.37% | -4.43% | -1.10% | 12.91% | 30.55% | |
Swisscanto ETF Precious Metal Physical Gold USD A | 4.61% | -4.26% | -0.98% | 12.91% | 30.81% | |
Raiffeisen ETF Solid Gold Ounces A-USD | 4.36% | -4.49% | -1.21% | 12.68% | 30.03% | |
Raiffeisen ETF Solid Gold A-USD | 4.35% | -4.50% | -1.22% | 12.67% | 29.98% | |
UBS ETF (CH) Gold (USD) A-dis | 4.19% | -4.61% | -1.32% | 12.66% | 30.36% | |
Raiffeisen ETF Solid Gold Ounces A-CHF | 4.47% | -4.58% | -1.04% | 12.63% | 29.94% |
ETF/ETC | 2021 in % |
2020 in % |
2019 in % |
2018 in % |
2017 in % |
|
---|---|---|---|---|---|---|
ZKB Gold ETF A (EUR) | 13.32% | 13.32% | 15.70% | -0.24% | 7.39% | |
ZKB Gold ETF A (CHF) | 13.30% | 13.30% | 15.86% | -0.24% | 7.58% | |
ZKB Gold ETF A (GBP) | 13.28% | 13.28% | 14.83% | 0.05% | 7.00% | |
Invesco Physical Gold A | 13.11% | 13.11% | 16.38% | -0.58% | 6.81% | |
Xtrackers Physical Gold ETC | 13.09% | 13.09% | 16.17% | -0.37% | 6.78% | |
ZKB Gold ETF A (USD) | 13.08% | 13.08% | 15.79% | -0.53% | 7.46% | |
Swisscanto ETF Precious Metal Physical Gold USD AX | 13.00% | 13.00% | 17.00% | -0.82% | 7.54% | |
iShares Gold (CH) | 12.91% | 12.91% | 16.31% | -0.59% | 6.81% | |
Swisscanto ETF Precious Metal Physical Gold USD A | 12.91% | 12.91% | 16.90% | -0.90% | 7.46% | |
Raiffeisen ETF Solid Gold Ounces A-USD | 12.68% | 12.68% | 16.90% | -1.30% | 6.69% | |
Raiffeisen ETF Solid Gold A-USD | 12.67% | 12.67% | 16.88% | -1.30% | 6.66% | |
UBS ETF (CH) Gold (USD) A-dis | 12.66% | 12.66% | 17.13% | -1.21% | 6.95% | |
Raiffeisen ETF Solid Gold Ounces A-CHF | 12.63% | 12.63% | 16.93% | -1.33% | 7.00% |
Source: justETF.com; As of 31/12/2020; Calculations in CHF including dividends
Compare all Gold ETFs which are hedged to Swiss Francs
In order to provide a sound decision basis, you find a list of all Gold ETFs with details on size, cost, age, currency hedge, instrument type and collateral ranked by fund size.

Compare all Gold ETFs with CHF currency hedge in detail
Compare all Gold ETFs with CHF currency hedge in a chart
Provider ISIN |
Fund size in m CHF |
TER in % |
Currency hedge | Instrument type | Replication method | |
---|---|---|---|---|---|---|
UBS ETF (CH) Gold (CHF) hedged (CHF) A-disCH0106027128 | 1,467 | 0.23% p.a. |
Yes (in CHF) |
ETF | Physically backed | |
ZKB Gold ETF H (CHF)CH0139101601 | 1,349 | 0.40% p.a. |
Yes (in CHF) |
ETF | Physically backed | |
iShares Gold CHF Hedged (CH)CH0104136285 | 513 | 0.22% p.a. |
Yes (in CHF) |
ETF | Full replication | |
Swisscanto ETF Precious Metal Physical Gold CHF ACH0044781232 | 506 | 0.41% p.a. |
Yes (in CHF) |
ETF | Physically backed | |
Raiffeisen ETF Solid Gold Ounces H-CHF (hedged)CH0134034864 | 110 | 0.41% p.a. |
Yes (in CHF) |
ETF | Full replication | |
Swisscanto ETF Precious Metal Physical Gold CHF AXCH0044821731 | 47 | 0.33% p.a. |
Yes (in CHF) |
ETF | Physically backed | |
Raiffeisen ETF Solid Gold H-CHF (hedged)CH0134034906 | 32 | 0.42% p.a. |
Yes (in CHF) |
ETF | Full replication |
Source: justETF.com; As of 15/01/2021
ETF/ETC | 1 month in % |
3 months in % |
6 months in % |
1 year in % |
3 years in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold CHF AX | 6.75% | -0.51% | 5.42% | 21.82% | 32.42% | |
UBS ETF (CH) Gold (CHF) hedged (CHF) A-dis | 6.82% | -0.57% | 5.56% | 21.77% | 32.67% | |
Swisscanto ETF Precious Metal Physical Gold CHF A | 6.75% | -0.53% | 5.37% | 21.72% | 32.10% | |
ZKB Gold ETF H (CHF) | 6.80% | -0.58% | 5.46% | 21.38% | 31.70% | |
iShares Gold CHF Hedged (CH) | 7.01% | -0.26% | 5.77% | 21.24% | 31.90% | |
Raiffeisen ETF Solid Gold Ounces H-CHF (hedged) | 7.03% | -0.32% | 5.63% | 20.83% | 30.86% | |
Raiffeisen ETF Solid Gold H-CHF (hedged) | 7.02% | -0.37% | 5.56% | 20.69% | 30.69% |
ETF/ETC | 2021 in % |
2020 in % |
2019 in % |
2018 in % |
2017 in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold CHF AX | 21.82% | 21.82% | 13.84% | -4.51% | 9.45% | |
UBS ETF (CH) Gold (CHF) hedged (CHF) A-dis | 21.77% | 21.77% | 13.92% | -4.36% | 7.94% | |
Swisscanto ETF Precious Metal Physical Gold CHF A | 21.72% | 21.72% | 13.75% | -4.59% | 9.36% | |
ZKB Gold ETF H (CHF) | 21.38% | 21.38% | 13.72% | -4.59% | 8.40% | |
iShares Gold CHF Hedged (CH) | 21.24% | 21.24% | 14.23% | -4.76% | 8.43% | |
Raiffeisen ETF Solid Gold Ounces H-CHF (hedged) | 20.83% | 20.83% | 14.12% | -5.10% | 8.20% | |
Raiffeisen ETF Solid Gold H-CHF (hedged) | 20.69% | 20.69% | 14.10% | -5.10% | 8.17% |
Source: justETF.com; As of 31/12/2020; Calculations in CHF including dividends
Compare all Gold ETFs which are hedged to Euro
In order to provide a sound decision basis, you find a list of all Gold ETFs with details on size, cost, age, currency hedge, instrument type and collateral ranked by fund size.

Compare all Gold ETFs with EUR currency hedge in detail
Compare all Gold ETFs with EUR currency hedge in a chart
Provider ISIN |
Fund size in m CHF |
TER in % |
Currency hedge | Instrument type | Replication method | |
---|---|---|---|---|---|---|
Xtrackers Physical Gold EUR Hedged ETCDE000A1EK0G3 | 3,030 | 0.59% p.a. |
Yes (in EUR) |
ETC | Physically backed | |
ZKB Gold ETF H (EUR)CH0103326762 | 447 | 0.40% p.a. |
Yes (in EUR) |
ETF | Physically backed | |
UBS ETF (CH) Gold (EUR) hedged (EUR) A-disCH0106027144 | 392 | 0.23% p.a. |
Yes (in EUR) |
ETF | Physically backed | |
Swisscanto ETF Precious Metal Physical Gold EUR ACH0044781174 | 325 | 0.41% p.a. |
Yes (in EUR) |
ETF | Physically backed | |
iShares Gold EUR Hedged (CH)CH0104136319 | 311 | 0.35% p.a. |
Yes (in EUR) |
ETF | Full replication | |
Swisscanto ETF Precious Metal Physical Gold AXCH0044821699 | 39 | 0.33% p.a. |
Yes (in EUR) |
ETF | Physically backed |
Source: justETF.com; As of 15/01/2021
ETF/ETC | 1 month in % |
3 months in % |
6 months in % |
1 year in % |
3 years in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold AX | 6.88% | 0.11% | 7.55% | 22.01% | 24.23% | |
Swisscanto ETF Precious Metal Physical Gold EUR A | 6.87% | 0.09% | 7.51% | 21.92% | 23.93% | |
Xtrackers Physical Gold EUR Hedged ETC | 5.71% | -1.03% | 6.39% | 21.60% | 22.23% | |
UBS ETF (CH) Gold (EUR) hedged (EUR) A-dis | 6.49% | -0.49% | 7.22% | 21.33% | 23.90% | |
iShares Gold EUR Hedged (CH) | 6.67% | -0.19% | 7.42% | 21.22% | 23.50% | |
ZKB Gold ETF H (EUR) | 6.47% | -0.51% | 7.03% | 21.01% | 22.76% |
ETF/ETC | 2021 in % |
2020 in % |
2019 in % |
2018 in % |
2017 in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold AX | 22.01% | 22.01% | 10.79% | -8.10% | 19.76% | |
Swisscanto ETF Precious Metal Physical Gold EUR A | 21.92% | 21.92% | 10.70% | -8.17% | 19.66% | |
Xtrackers Physical Gold EUR Hedged ETC | 21.60% | 21.60% | 10.16% | -8.75% | 18.45% | |
UBS ETF (CH) Gold (EUR) hedged (EUR) A-dis | 21.33% | 21.33% | 10.90% | -7.92% | 18.27% | |
iShares Gold EUR Hedged (CH) | 21.22% | 21.22% | 10.72% | -7.99% | 18.91% | |
ZKB Gold ETF H (EUR) | 21.01% | 21.01% | 9.94% | -7.73% | 18.37% |
Source: justETF.com; As of 31/12/2020; Calculations in CHF including dividends
Compare all Gold ETFs which are hedged to British Pound
In order to provide a sound decision basis, you find a list of all Gold ETFs with details on size, cost, age, currency hedge, instrument type and collateral ranked by fund size.

Compare all Gold ETFs with GBP currency hedge in detail
Compare all Gold ETFs with GBP currency hedge in a chart
Provider ISIN |
Fund size in m CHF |
TER in % |
Currency hedge | Instrument type | Replication method | |
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold GBP AXCH0103447790 | 51 | 0.33% p.a. |
Yes (in GBP) |
ETF | Physically backed | |
Swisscanto ETF Precious Metal Physical Gold GBP ACH0103447766 | 44 | 0.41% p.a. |
Yes (in GBP) |
ETF | Physically backed | |
ZKB Gold ETF H (GBP)CH0104493306 | 18 | 0.40% p.a. |
Yes (in GBP) |
ETF | Physically backed |
Source: justETF.com; As of 15/01/2021
ETF/ETC | 1 month in % |
3 months in % |
6 months in % |
1 year in % |
3 years in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold GBP AX | 6.39% | 1.38% | 9.04% | 15.51% | 25.43% | |
Swisscanto ETF Precious Metal Physical Gold GBP A | 6.38% | 1.36% | 9.00% | 15.42% | 25.13% | |
ZKB Gold ETF H (GBP) | 6.49% | 1.12% | 8.95% | 15.04% | 24.95% |
ETF/ETC | 2021 in % |
2020 in % |
2019 in % |
2018 in % |
2017 in % |
|
---|---|---|---|---|---|---|
Swisscanto ETF Precious Metal Physical Gold GBP AX | 15.51% | 15.51% | 18.89% | -8.66% | 16.70% | |
Swisscanto ETF Precious Metal Physical Gold GBP A | 15.42% | 15.42% | 18.79% | -8.74% | 16.60% | |
ZKB Gold ETF H (GBP) | 15.04% | 15.04% | 17.24% | -7.36% | 15.37% |
Source: justETF.com; As of 31/12/2020; Calculations in CHF including dividends