Revenue sources: The iShares Gold Trust (IAU) does not generate revenue from industries, as it is an exchange-traded fund (ETF) that holds physical gold and tracks the price of gold.

TOP 3 markets: USA, Europe, Asia

Percentage shares:

• USA: approx. 50%
• Europe: approx. 30%
• Asia: approx. 20%

The iShares Gold Trust is a passive investment fund that aims to replicate the price performance of gold. As a commodity ETF, it does not generate revenue from specific industries. Instead, its performance depends on movements in the price of gold.

The demand for gold and thus the interest in the ETF is strongest in the USA, followed by Europe and Asia. These markets are the main sources of investment in the fund, as reflected in the percentage shares.

iShares Gold Trust (ARCA:IAU) is not a manufacturing company, but an exchange-traded fund (ETF) that tracks the price of gold.

The iShares Gold Trust holds physical gold in vaults to secure the value of the fund. The management and storage of the gold is usually done by specialized financial institutions and warehouses located in various countries, often in secure financial centers.

Since it is a trust, there are no production facilities in the conventional sense. Rather, the trust invests in physical gold produced by mines worldwide.

Current Strategy: Diversification and Cost Optimization

The iShares Gold Trust (ARCA:IAU) pursues a strategy aimed at diversification and cost optimization. As an exchange-traded fund (ETF) holding physical gold, the main goal of the Trust is to provide investors with a cost-effective way to invest in gold.

The growth strategy of the iShares Gold Trust focuses on enhancing the attractiveness of the fund through low management fees to attract more investors. Furthermore, efforts are continuously made to improve the liquidity and tradability of the fund to facilitate access for institutional and private investors.

Moreover, in the future, the Trust could benefit from the increasing demand for gold as a hedge against inflation and economic uncertainties. This could be further supported through an enhanced marketing strategy and emphasizing the advantages of gold as an asset class.

Main raw material: Gold

Countries of origin: South Africa, Australia, Russia, Canada, USA

The iShares Gold Trust (ARCA:IAU) invests in physical gold, which is imported as the main raw material. The Trust purchases gold bars that are stored in recognized vaults. The origin of the gold may vary, but the largest gold producers worldwide come from countries such as South Africa, Australia, Russia, Canada, and the USA. These countries are known for their extensive gold mines and make a significant contribution to global gold production.

Since the Trust holds physical gold, it is important that the gold meets international standards, such as the "London Good Delivery" specifications. The exact origin of the gold bars may vary depending on availability and market conditions.

Assets Under Management (AUM): approx. 30 billion USD (2023)

The iShares Gold Trust (ARCA:IAU) is an exchange-traded fund (ETF) that tracks the price of gold. Its main competitive advantage lies in its size and liquidity. With assets under management of around 30 billion USD, it is one of the largest gold ETFs globally. This allows investors to trade large positions without significantly affecting the market price.

Another advantage is the low cost structure compared to other forms of investing in physical gold. IAU's annual management fee is competitive, making it an attractive option for investors looking to invest in gold without storing physical gold.

Furthermore, IAU benefits from the strong brand and network of iShares, one of the leading ETF providers, which enhances investor confidence. The competitive advantage of IAU can thus be considered strong, especially due to its market position and cost efficiency.

Institutional Investor Share: approx. 60% (estimated for 2025 based on historical trends)

Insider Buys/Sells: No significant insider transactions known (as of 2025)

The iShares Gold Trust (IAU) is an exchange-traded fund (ETF) that focuses on replicating the price of gold. ETFs like IAU are typically heavily held by institutional investors, as they are considered an efficient means of diversification and protection against market volatility. The institutional investor share is typically around 60%, indicating the attractiveness of gold as a safe haven.

Insider transactions are less relevant for ETFs than for individual stocks, as they are passively managed funds. Therefore, there are usually no significant insider buys or sells to report.

Market share of iShares Gold Trust (IAU): approx. 32% (2025, estimated)

Main competitors and their market shares:

1. SPDR Gold Shares (GLD): approx. 40%
2. Aberdeen Standard Physical Gold Shares ETF (SGOL): approx. 10%
3. VanEck Merk Gold Trust (OUNZ): approx. 7%
4. GraniteShares Gold Trust (BAR): approx. 5%
5. Sprott Physical Gold Trust (PHYS): approx. 3%

Moat of iShares Gold Trust:

The iShares Gold Trust (IAU) has a significant moat in the form of low costs and high liquidity. The management expense ratio of IAU is lower compared to some competitors, making it attractive to cost-conscious investors. Additionally, IAU offers high liquidity, facilitating trading and minimizing spreads.

In comparison, SPDR Gold Shares (GLD) has the advantage of even higher liquidity and a larger managed asset base, making it the preferred product for institutional investors. GLD thus has a stronger moat in terms of market presence and institutional acceptance.

Other competitors like SGOL and OUNZ offer specific advantages, such as physical delivery or different storage locations, but they serve more niche markets and do not represent a broad moat.

Overall, IAU has a solid moat, especially for retail investors, while GLD dominates in the institutional sector. The other ETFs offer specialized advantages, but they have less impact on the overall market share.

Gold price increase: 8% (2024) Inflation rate USA: 3.5% (2024) Central bank purchases of gold: Increase by 10% (2024)

The iShares Gold Trust (IAU) is an exchange-traded fund that tracks the price of gold. Investing in IAU provides investors with a way to hedge against inflation and benefit from the price development of gold without owning physical gold.

In 2024, the price of gold increased by 8%, attributed to increased demand from central banks and investors who consider gold as a safe haven in times of economic uncertainty. The inflation rate in the USA was 3.5%, further strengthening interest in gold as a hedge against inflation.

Central banks worldwide increased their gold purchases by 10%, boosting demand for gold even further. These factors suggest that the iShares Gold Trust could be an attractive investment opportunity for investors seeking protection against economic uncertainties and inflation.

Dividend: None

The iShares Gold Trust (ARCA:IAU) does not pay a dividend. As an exchange-traded fund (ETF) that holds physical gold, the IAU aims to track the price performance of gold. Since gold itself does not generate income, there is no basis for dividend payouts.

Investors in the IAU benefit from the appreciation of the gold price, but not from regular income in the form of dividends. This is typical for commodity ETFs that invest in physical assets.