World Gold Trust GLDM
The World Gold Trust (the "Trust") was formed as a Delaware statutory trust on August 27, 2014. The Trust consists of multiple series (each, a "Fund" and collectively, the "Funds"). Each Fund issues common units of beneficial interest that represent units of fractional undivided beneficial interest in and ownership of such Fund. The term of the Trust and each Fund is perpetual (unless terminated earlier in certain circumstances). The Trust was organized in separate series as a Delaware statutory trust rather than as separate statutory trusts to achieve certain administrative and other efficiencies. The Trust is sponsored by WGC USA Asset Management Company, LLC ("WGCAM" or the "Sponsor").
The Trust has one operational Fund, SPDR® Gold MiniShares® Trust ("GLDM"), as of September 30, 2025. The accompanying financial statements relate to the Trust and GLDM.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total operating expenses | $13.1M | $7.0M | $5.7M | $6.2M | $7.5M | $3.5M | $1.2M | $145.0K | $77.0K | — |
| Net income | $5.31B | $2.42B | $546.3M | -$295.4M | -$345.9M | $443.2M | $139.0M | -$7.5M | -$337.0K | — |
| EPS, basic | 25.06 | 15.19 | 3.56 | -2.23 | -3.01 | — | — | — | -1.80 | — |
| Shares, diluted (wtd. avg.) | $211.9M | $159.5M | $153.4M | $132.5M | $114.8M | — | — | — | $187.0K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $20.86B | $9.16B | $5.78B | $4.69B | $4.39B | $3.56B | $1.05B | $255.4M | $14.4M | — |
| Total liabilities | $1.6M | $52.9M | $15.4M | $53.2M | $666.0K | $517.0K | $148.0K | $30.0K | $54.0K | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Financing cash flow | — | — | — | — | $0 | $0 | $0 | $0 | $0 | — |
| Dividends paid | — | — | — | — | $0 | $0 | $33.5M | $0 | — | — |
| Buybacks | — | — | — | — | $0 | $0 | $0 | $0 | $1.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-25-036313.
Others in SIC 6221
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GLD | SPDR GOLD TRUST | $143.35B | — | — |
| IAU | ISHARES GOLD TRUST | $65.76B | — | — |
| IBIT | iShares Bitcoin Trust ETF | $58.86B | — | — |
| SLV | iShares Silver Trust | $32.20B | — | — |
| AGQ | ProShares Trust II | $10.74B | — | — |
| GBTC | Grayscale Bitcoin Trust ETF | $10.63B | — | — |
| SGOL | abrdn Gold ETF Trust | $7.41B | — | — |
| ETHA | iShares Ethereum Trust ETF | $7.13B | — | — |