Gold vs US equity
Compare a physical gold fund against a total US market fund, including gold's distinct tax treatment.
GLD is a trust that holds physical gold, so it pays no dividends and its return comes entirely from the gold price. VTI holds the total US market, paying dividends and delivering equity returns.
For tax purposes, long-term gains on a physical-gold fund are treated as collectibles and can be taxed at up to 28%, above the normal long-term capital gains rate on stocks. Run the backtest to compare both with taxes in view.
Historical results
Historical results for a $10,000 lump sum with dividends reinvested and monthly rebalancing, as of 2025-12-31. Past performance does not guarantee future results. Not investment advice.
After-tax assumptions: Single filer, $150,000 income, taxable account, HIFO lots, 2026 federal brackets, no state tax.
Run it live with your own dates and tax profileWhy is gold taxed differently from stocks?
A fund that holds physical gold is treated as a collectible for tax purposes. Long-term gains on collectibles can be taxed at up to 28%, higher than the normal long-term capital gains rate that applies to 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.
Run this comparison with your own dates, account type, and tax profile.
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