As gold has soared close to $1,900 an ounce on market turmoil in recent weeks, the SPDR Gold Shares exchange traded fund GLD, has passed the SPDR S&P 500 SPY to become the largest ETF measured by net assets.

Net assets in the gold fund Friday were $76.7 billion vs. $74.4 billion in the S&P 500 fund, according to data from State Street Global Advisors.

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