Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
BTCI has lagged IAUI over the trailing twelve months, posting a -26.67% total return against 4.40%. Measured from Jun 2025 — the start of shared available history — IAUI has compounded at 10.32% a year versus -12.26% for BTCI. IAUI has been the steadier holding, though — annualized volatility of 23.4% against 40.6% for BTCI. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2025” measures every fund from June 5, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
Metric
BTCI
IAUI
Forward distribution rate
25.42%
12.47%
Trailing 12-month yield
29.88%
14.00%
30-day SEC yield
1.35%
1.87%
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Bottom lineChoose BTCI if you want to maximize current income — roughly 25.42%, generated by selling options premium. Choose IAUI if you are comfortable trading away most upside for a large, steady payout. BTCI and IAUI both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. BTCI and IAUI generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Crypto volatility. BTCI sits on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on BTCI and IAUI.
BTCI (NEOS Bitcoin High Income ETF) and IAUI (NEOS Gold High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
BTCI offers the higher yield at 25.42% vs 12.47% for IAUI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
IAUI is cheaper with an expense ratio of 0.79% compared to 0.98%.
They have different reference exposures: BTCI is linked to Bitcoin ETPs while IAUI is linked to Gold ETPs, which means their performance drivers differ.
BTCI is the larger fund by assets ($1.38B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose BTCI
NEOS Bitcoin High Income ETF
Want to maximize current income — BTCI distributes roughly 25.42% from selling options premium, vs 12.47% for IAUI.
Want crypto exposure that pays income rather than waiting on price alone.
Choose IAUI
NEOS Gold High Income ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.79% expense ratio vs 0.98% for BTCI.
Prefer lower volatility — a beta of 0.5 vs 1.5 for BTCI.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track BTCI & IAUI for free
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On a $10,000 investment, BTCI would generate roughly $211.83 cash per distribution, while IAUI would produce $103.92 cash per distribution, at current distribution rates. Both pay monthly distributions.
BTCI yield25.42%
IAUI yield12.47%
Cash diff on $10K$107.92
Cost & efficiency
Over 10 years on $10,000, BTCI would cost approximately $980 in fees vs $790 for IAUI (simplified, not compounded). The $190.00 difference may be offset by yield or performance.
BTCI ER0.98%
IAUI ER0.79%
Strategy & risk
BTCI tracks Bitcoin ETPs with a crypto approach, while IAUI tracks Gold ETPs with a metals approach. Beta is 1.48 for BTCI and 0.48 for IAUI, making IAUI the less volatile of the two by this measure.
BTCI beta1.48
IAUI beta0.48
Fund details
BTCI is managed by NEOS (launched 10/16/2024) with $1.38B in assets. IAUI is managed by NEOS (launched 06/05/2025) with $626M in assets.
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Frequently asked questions
What is the current distribution rate for BTCI and IAUI?
BTCI currently distributes 25.42% and IAUI 12.47%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is BTCI or IAUI better for dividend income?
It depends on your goals. BTCI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between BTCI and IAUI?
BTCI (NEOS Bitcoin High Income ETF) tracks Bitcoin ETPs with a crypto approach, while IAUI (NEOS Gold High Income ETF) tracks Gold ETPs with a metals approach. They are issued by NEOS and NEOS respectively.
Can I hold both BTCI and IAUI?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is BTCI or IAUI safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — IAUI scores 79, BTCI scores 51, so IAUI's payout currently looks the more resilient of the two. IAUI has also shown lower price volatility (beta 0.48 vs 1.48 for BTCI). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, BTCI or IAUI?
BTCI has an expense ratio of 0.98% while IAUI charges 0.79%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BTCI vs IAUI generate?
At current rates, $10,000 in BTCI would generate roughly $211.83 cash per distribution ($2,542.00 annually). The same in IAUI would produce about $103.92 cash per distribution ($1,247.00 annually).
Which has performed better historically, BTCI or IAUI?
BTCI has lagged IAUI over the trailing twelve months, posting a -26.67% total return against 4.40%. Measured from Jun 2025 — the start of shared available history — IAUI has compounded at 10.32% a year versus -12.26% for BTCI. IAUI has been the steadier holding, though — annualized volatility of 23.4% against 40.6% for BTCI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
BTCI and IAUI are both NEOS-issued covered-call ETFs that generate income by selling options against physical-commodity ETPs—bitcoin for BTCI and gold for IAUI. They share identical monthly distribution schedules and tax-efficient structures, but differ fundamentally in their underlying asset volatility, income targets, and market risk profiles. BTCI targets much higher yields through bitcoin's steeper price swings, while IAUI uses gold's lower volatility to fund a more moderate payout. Steeper price moves let BTCI's covered calls capture wider premiums. Second, capital structure and risk: BTCI has $1.38B in assets, more than double IAUI's $626M, and carries higher redemption risk given its newer inception date of 10/16/2024. Third, expense drag: IAUI charges 0.79%, undercut BTCI's 0.98% by 0.19%, a small but material difference when yields are this high and the underlying assets themselves are non-yielding.
Who each is best for
BTCI: Fits investors comfortable with bitcoin's price swings who prioritize maximum current income and view option decay and potential NAV erosion as acceptable trade-offs for monthly distributions above 25%.
IAUI: Fits investors seeking high current income from a commodity hedge with substantially lower volatility tolerance, or those who view gold as portfolio insurance and want to monetize that position through options sales rather than hold passively. This may compress NAV over time if bitcoin price appreciation fails to keep pace.
Covered-call cap on upside. Both funds sacrifice gains if bitcoin or gold rally sharply; sold calls will be exercised or rolled down, capping appreciation. This matters most for BTCI, where bitcoin's 1.48 makes large runups plausible.
Cryptocurrency regulatory and custody risk (BTCI only). Bitcoin ETPs remain subject to evolving regulatory treatment, SEC oversight of spot bitcoin products, and potential policy shifts that could affect valuation or trading liquidity. Gold has a long, established regulatory framework by comparison.
Gold's persistent low real yields (IAUI only). Gold produces no cash flow, dividend, or interest. The 12.47% payout depends entirely on option premiums; if gold volatility falls or interest rates stay elevated, premium capture may decline. BTCI's larger scale offers slightly better execution, but both are still young funds.
Bottom line
If you want maximum monthly income and can tolerate bitcoin's volatility and the risk that NAV may erode over time, BTCI's 25.42% yield is the tradeoff. If you prefer lower volatility and a more modest but potentially more sustainable income stream, IAUI's 12.47% and 0.48 beta fit a different risk appetite. Both carry hidden principal risk from their yield structures; verify the composition of each month's distribution between income and return of capital before committing significant capital. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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