GLD sponsor fee on a stake matching one MGC, by years held
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-10-04, from Micro Gold Futures vs GLD: Size, Tax, Cost.
| years_held | cumulative_fee_pct | fee_usd_per_mgc_notional |
|---|---|---|
| 1 | 0.4 | 166 |
| 2 | 0.8 | 331 |
| 3 | 1.2 | 495 |
| 4 | 1.59 | 659 |
| 5 | 1.98 | 822 |
| 6 | 2.38 | 984 |
| 7 | 2.77 | 1146 |
| 8 | 3.16 | 1307 |
| 9 | 3.54 | 1467 |
| 10 | 3.93 | 1627 |
- Rows × columns
- 10 × 3
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
years_held |
number | 1 to 10 | |
cumulative_fee_pct |
number | 0.4 to 3.93 | percent |
fee_usd_per_mgc_notional |
number | 166 to 1,627 | US dollars |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
Run it yourself
This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.
WITH
0.0918 AS ounces_per_gld_share,
0.0040 AS sponsor_fee_rate,
(
SELECT toFloat64(argMax(close, date))
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'GLD'
AND date >= today() - 45
) AS gld_latest_close
SELECT
y AS years_held,
round((1 - pow(1 - sponsor_fee_rate, y)) * 100, 2) AS cumulative_fee_pct,
round(gld_latest_close / ounces_per_gld_share * 10 * (1 - pow(1 - sponsor_fee_rate, y)), 0) AS fee_usd_per_mgc_notional
FROM
(
SELECT arrayJoin(range(1, 11)) AS y
)
ORDER BY y
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