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ETF Comparison

GLD vs KGLD: Which Is the Better Pick in 2026?

A head-to-head comparison of SPDR Gold Shares and Kurv Gold Enhanced Income ETF covering yield, cost, risk, and income potential.

Data updated August 19, 2026

Best for

  • GLDInvestors who want a non-correlated hedge against inflation and market stress.
  • KGLDInvestors who want higher current income (15.16% while GLD makes no distribution).

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

GLD has outpaced KGLD over the trailing twelve months, posting a 34.82% total return against 32.39%. Measured from Jul 2025 — when the younger fund began trading — GLD has compounded at 31.83% a year versus 31.16% for KGLD. 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.
SymbolYTD1YSince Jul 2025Volatility Sharpe Sortino Max drawdown
GLD3.91%34.82%31.83%29.0%0.881.17-26.4%
KGLD4.03%32.39%31.16%30.2%0.781.04-28.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jul 2025” measures every fund from July 8, 2025 — the youngest fund's first trading day — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGLDKGLD
Full nameSPDR Gold SharesKurv Gold Enhanced Income ETF
IssuerState StreetKurv
Last Close$398.55 as of August 19, 2026$27.71 as of August 19, 2026
Distribution yield0.00%15.16%
Distribution Safety Score™ —93
Expense ratio0.40%1.00%
AUM$144B$134M
Distribution frequencyNoneMonthly
Underlying indexGold bullion spot priceGold
ObjectiveReflect the performance of the price of gold bullion less trust expenses.Kurv Gold Enhanced Income ETF seeks to maximize total return by actively managing a portfolio with efficient exposure to gold while, at the same time, generating potentially tax-efficient income.
Asset classCommodityEquity
Inception date11/18/200407/08/2025
Beta0.36—
Last dividend—$0.3500
Ex-dividend date—08/05/2026

Bottom lineChoose GLD if you want a non-correlated hedge against inflation and market stress. Choose KGLD if you want higher current income (15.16% while GLD makes no distribution).

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

State Street
ETFs180
Total AUM$2169B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on GLD.

See all State Street ETFs
Kurv
ETFs16
Total AUM$586M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Kurv is known for developing actively managed, single-stock and thematic covered call ETFs that generate income through options strategies. The issuer's lineup spans fixed income, growth and income, precious metals strategies, and thematic investing approaches, with a notable focus on single-stock income products tied to mega-cap technology and consumer companies. Kurv's breadth includes both traditional covered call strategies and more specialized offerings in metals and sector-specific themes, appealing to investors seeking equity income across various market segments.

See our curated list of related YouTube videos on KGLD.

See all Kurv ETFs

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Quick verdict

GLD (SPDR Gold Shares) and KGLD (Kurv Gold Enhanced Income ETF) are both ETFs, but they take different approaches.

KGLD currently shows a 15.16% distribution yield. GLD has not yet established a full distribution history, so a comparable yield figure is not available.

GLD is cheaper with an expense ratio of 0.40% compared to 1.00%.

They track different benchmarks: GLD is linked to Gold bullion spot price while KGLD tracks Gold, which means their performance drivers differ.

GLD is the larger fund by assets ($144B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose GLD

SPDR Gold Shares

  • Want a non-correlated hedge against inflation and equity stress.
  • Want to keep costs low — a 0.40% expense ratio vs 1.00% for KGLD.

Choose KGLD

Kurv Gold Enhanced Income ETF

  • Want higher current income — KGLD yields 15.16% while GLD makes no distribution.
  • Want broad equity exposure.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, GLD has no reported distribution yield yet, so a monthly income estimate is not available, while KGLD would produce $126.33/month, at current distribution rates.

GLD yield0.00%
KGLD yield15.16%

Cost & efficiency

Over 10 years on $10,000, GLD would cost approximately $400 in fees vs $1,000 for KGLD (simplified, not compounded). The $600.00 difference may be offset by yield or performance.

GLD ER0.40%
KGLD ER1.00%

Strategy & risk

GLD tracks Gold bullion spot price with a metals approach, while KGLD tracks Gold with a metals approach.

GLD beta0.36
KGLD beta—

Fund details

GLD is managed by State Street (launched 11/18/2004) with $144B in assets. KGLD is managed by Kurv (launched 07/08/2025) with $134M in assets.

GLD AUM$144B
KGLD AUM$134M
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Frequently asked questions

Which of GLD or KGLD pays more dividend income?

KGLD currently reports a distribution yield, while GLD has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

What is the difference between GLD and KGLD?

GLD (SPDR Gold Shares) tracks Gold bullion spot price with a metals approach, while KGLD (Kurv Gold Enhanced Income ETF) tracks Gold with a metals approach. They are issued by State Street and Kurv respectively.

Can I hold both GLD and KGLD?

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.

Which has lower fees, GLD or KGLD?

GLD has an expense ratio of 0.40% while KGLD charges 1.00%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in GLD vs KGLD generate?

At current rates, GLD has not established a distribution history yet, so a monthly income estimate is not available. The same in KGLD would produce about $126.33 per month ($1,516.00 annually).

Which has performed better historically, GLD or KGLD?

GLD has outpaced KGLD over the trailing twelve months, posting a 34.82% total return against 32.39%. Measured from Jul 2025 — when the younger fund began trading — GLD has compounded at 31.83% a year versus 31.16% for KGLD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GLD vs KGLD — at a glance

Generated August 15, 2026.

Overview

GLD and KGLD both offer gold exposure, but they're structured fundamentally differently. GLD is a straightforward commodity ETF that tracks the spot price of physical gold bullion and pays no distributions. KGLD is an actively managed equity ETF launched in July 2025 that wraps gold exposure and uses options strategies to generate a 15.08% monthly distribution yield.

How they differ

The core difference is strategy: GLD buys and holds gold bullion to mirror spot price movements, while KGLD actively manages a gold portfolio and overlays options income strategies to create distributions. GLD charges 0.40% annually with $132B in assets and produces zero yield; KGLD costs 1.00% annually, holds $128M in assets, and distributes 15.08% per year monthly. GLD's beta of 0.36 suggests it moves less than the broader market, while KGLD reports a beta of 0.0, indicating its options-enhanced structure is designed to decouple from traditional equity market swings—though this structure is unproven given the fund's recent inception.

Who each is best for

GLD: Investors seeking pure gold price exposure without distributions, who want minimal fees and a highly liquid vehicle with two decades of operating history. Fits long-term holders who view gold as a portfolio ballast rather than an income source.

KGLD: Investors prioritizing monthly cash flow from their gold allocation and willing to accept active management, higher fees, and structural complexity (options strategies) in exchange for yield. Fits those who value generated income over price appreciation and can tolerate a fund with limited track record.

Key risks to know

  • NAV erosion at extreme yield levels. A 15.08% annualized distribution on a $27.85 share price implies distributions approaching or exceeding underlying gold appreciation over normal market cycles. If gold does not appreciate sufficiently, KGLD's NAV is likely to erode over time as distributions pull from principal.
  • Options strategy and volatility drag. KGLD's income generation relies on active options management. Unexpected moves in implied volatility, shifts in gold volatility itself, or adverse derivative positioning could reduce income or increase losses beyond what passive gold exposure would suffer.
  • Nascent fund with no multi-year performance record. KGLD launched in July 2025. Its options strategy, fee structure, and distribution sustainability have not been tested across a full market cycle, rising rates, or periods of gold decline.
  • Liquidity and size differential. GLD's $132B AUM and two-decade history provide deep liquidity and institutional trust. KGLD's $128M asset base and new status create wider bid-ask spreads and higher risk of structural challenges if assets decline further.

Bottom line

GLD offers straightforward gold exposure with institutional-scale liquidity and minimal cost; it's designed for investors comfortable with price appreciation as their only return. KGLD prioritizes income generation through options strategies and targets investors seeking monthly distributions, but at the cost of complexity, untested longevity, and significant NAV erosion risk if gold prices stagnate. Past performance does not guarantee future results—particularly relevant for KGLD given its inception date and untested distributing mechanism.

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.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

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