Core Insights - Gold has emerged as a significant investment story in 2024 due to rising economic uncertainty in the U.S., with its price nearly doubling since the start of the year [1] - The Goldman Sachs Physical Gold ETF (AAAU) offers a low-cost option for investors seeking direct exposure to physical gold, charging only 18 basis points [1] - AAAU has outperformed both its category and segment averages, returning 45.79% year-to-date as of September 30, compared to 40.5% and 25.6% respectively [1] - Over the last five years, AAAU has returned 15.1%, and 31.9% over the last three years, also surpassing average returns [1] - The ETF has attracted over $557 million in net inflows year-to-date, indicating strong investor interest [1] Company and Industry Summary - AAAU tracks the LBMA Gold PM Price using U.K.-based gold bars, providing a close correlation to the gold spot price, making it an efficient investment tool [1] - Despite having a lower Assets Under Management (AUM) compared to some other gold ETFs, AAAU's lower fee structure and strong performance make it an attractive option [1] - The ETF has outperformed the SPDR Gold Shares ETF (GLD) over the past five years while charging less than half the fees of GLD [1]