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NUGG

$63.78-1.15%Gold Miners17/100
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BetaShares Gold Mining ETF · BetaShares

Data as at 29 March 2026

TL;DR

BetaShares' physical gold ETF providing AUD-denominated gold price exposure. Gold is held at the Perth Mint with WA Government guarantee — the same backing as PMGOLD, but at a higher fee of 0.40% per year.

MER (Annual Fee)
0.57%
#3 lowest in Gold Miners
1Y Return
+30.8%
3Y Return (p.a.)
+29.2%
Dividend Yield
-
Non-distributing
AUM
$270.5M
Assets under management
Avg Daily Turnover
$724K
Avg shares × unit price
Unit Price
$63.78
As at 29 March 2026
Provider
BetaShares
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Strategy

Holds physical gold in the Perth Mint with WA Government guarantee. Similar structure to PMGOLD but managed by BetaShares. Unhedged AUD gold exposure.

Top Holdings

Key Fact

NUGG and PMGOLD both hold gold at the Perth Mint with the same Western Australian Government guarantee. The portfolios are structurally identical — the only meaningful difference is the 0.25% annual fee gap between them.

Suited for

Investors who prefer BetaShares as their ETF provider for gold exposure, or who access it through BetaShares' model portfolio service.

Risks

At 0.40% per year, NUGG charges significantly more than PMGOLD (0.15%) for essentially the same government-guaranteed Perth Mint physical gold structure. Over 10 years on a $100,000 investment, this fee difference costs approximately $2,800 in foregone returns.

ETFCheck Score17/100
Fees (40%)15
Fund Size (25%)27
Liquidity (20%)24
Yield (15%)0
How scores are calculated →
Other Gold Miners ETFs
GDX
0.53% MER
47
MNRS
0.57% MER
33View all Gold Miners ETFs →

Frequently Asked Questions - NUGG

What does 'pure-play gold miners only' mean for NUGG and how does this differ from GDX and MNRS?+
NUGG exclusively holds companies deriving the vast majority of revenue from gold mining, deliberately excluding polymetallic miners whose primary output is silver, copper, or other metals. By contrast, GDX and MNRS include diversified miners like Barrick Gold with significant copper operations. This pure-play methodology gives NUGG a tighter correlation to gold price movements, though its 42.1% one-year return trails GDX (98.4%) and MNRS (120.1%), reflecting its different index construction and potentially more selective portfolio.
Why has NUGG significantly underperformed MNRS and GDX despite all being gold miner ETFs?+
NUGG's 42.1% one-year return versus MNRS's 120.1% and GDX's 98.4% largely reflects its different index methodology. By excluding polymetallic and diversified miners, NUGG misses the leveraged upside from companies like Barrick Gold and Newmont whose copper and silver by-products amplified profits during the recent commodity rally. NUGG's pure-play filter also results in different stock weightings and potentially smaller-cap holdings. Investors should compare the underlying index constituents carefully, as the "gold miners" label masks substantially different portfolio compositions.
How are NUGG's distributions taxed for Australian investors and SMSF holders?+
NUGG's modest 0.42% yield comes from dividends paid by its underlying global gold mining holdings. These distributions are predominantly unfranked foreign income, meaning Australian investors receive no franking credits and must declare payments as assessable income at their marginal tax rate. SMSF funds in accumulation phase pay 15% tax on this income. Given the low yield, most of NUGG's total return comes from capital appreciation, making the 12-month CGT discount the more significant tax consideration for long-term holders.
Who should choose NUGG over buying individual ASX gold miners like Northern Star or Evolution Mining?+
NUGG suits investors wanting diversified global gold miner exposure without single-stock concentration risk. Buying Northern Star (NST) or Evolution Mining (EVN) directly offers franking credits and ASX familiarity but concentrates risk in one or two companies facing individual operational, geological, and jurisdictional hazards. NUGG spreads exposure across multiple pure-play miners globally, reducing company-specific blowup risk. However, direct ASX miners may suit investors who want franked dividends and prefer Australian-regulated companies within their SMSF portfolio.