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PMGOLD

$63.93-0.88%Gold64/100
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Perth Mint Gold · Perth Mint

Data as at 29 March 2026

TL;DR

A certificate backed by gold stored in the Perth Mint's vaults and guaranteed by the Western Australian Government. Tracks the AUD gold price at 0.15% per year — the lowest fee among physical gold products on the ASX.

MER (Annual Fee)
0.15%
#1 lowest in Gold
1Y Return
+31.2%
3Y Return (p.a.)
+29.4%
Dividend Yield
-
Non-distributing
AUM
$2,301.7M
Assets under management
Avg Daily Turnover
$22.8M
Avg shares × unit price
Unit Price
$63.93
As at 29 March 2026
Provider
Perth Mint
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Strategy

Structured as a government-guaranteed certificate rather than a trust. The Perth Mint, owned by the WA Government, backs each unit with physical gold held in its vaults. Provides unhedged AUD gold price exposure.

Top Holdings

Key Fact

PMGOLD is guaranteed by the Western Australian Government through the Perth Mint. This government backing is a structural protection that other ASX gold ETFs — backed only by private custodian agreements — do not have.

Suited for

Investors wanting physical gold exposure at the lowest available management fee. The WA Government guarantee is a unique structural feature not available in any other ASX gold product.

Risks

Returns move with the AUD gold price — a strengthening AUD reduces AUD-denominated gold returns even when the USD gold price rises. The Perth Mint faced a liquidity issue in 2023 related to unallocated gold accounts, though allocated holdings were unaffected.

PMGOLD Comparisons

ETFCheck Score64/100
Fees (40%)78
Fund Size (25%)62
Liquidity (20%)89
Yield (15%)0
How scores are calculated →
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0.40% MER
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0.59% MER
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Frequently Asked Questions - PMGOLD

What makes PMGOLD's Australian government guarantee unique among ASX gold ETFs?+
PMGOLD is the only ASX-listed gold ETF backed by an explicit guarantee from the Western Australian government through the Perth Mint, meaning your gold holdings are sovereign-backed. Competing products like GOLD (Global X) hold physical gold but rely on commercial custodians without government guarantees. For SMSF trustees prioritising counterparty risk minimisation, PMGOLD provides an additional layer of security, though the guarantee covers the gold held in Perth Mint vaults rather than the ETF's market price.
How is PMGOLD taxed by the ATO given it pays zero yield?+
PMGOLD pays no distributions, so Australian investors only face capital gains tax upon selling. The ATO treats PMGOLD as a CGT asset, meaning gains held over 12 months qualify for the 50% CGT discount for individual investors or the one-third discount within SMSFs. With PMGOLD returning 38.2% over the past year, investors selling after strong appreciation should plan for significant CGT liabilities. Holding within an SMSF pension phase could eliminate CGT entirely.
Does PMGOLD track the AUD gold price or USD gold price?+
PMGOLD tracks the Australian dollar gold price, not the USD gold price most commonly quoted in media. This means Australian investors get a natural AUD exposure without additional currency hedging. When the AUD weakens against the USD, PMGOLD can outperform the USD gold price, which partly explains the strong 38.2% one-year return. Conversely, a rising AUD acts as a headwind, so PMGOLD functions as both a gold position and an implicit short-AUD currency position.
Is PMGOLD suitable as a core defensive allocation in an Australian SMSF?+
PMGOLD's 0.15% MER makes it one of the cheapest defensive holdings available on the ASX, and its government-backed structure addresses SMSF trustee concerns about custodial risk. However, gold pays no income and generates no franking credits, which may conflict with SMSF pension phase requirements for regular cash flow. Trustees can pair PMGOLD with income-generating ETFs to balance growth protection and distribution needs, allocating typically 5-15% of portfolio value as a hedge against equity and currency risk.