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ETF Comparison

IAUI vs KGLD: Same Gold-Income Idea, Two Designs

A head-to-head of NEOS Gold High Income and Kurv Gold Enhanced Income covering how each holds gold, cost, and cash.

Data updated September 4, 2026

Best for

  • IAUIInvestors who are comfortable trading away most upside for a large, steady payout.
  • KGLDInvestors who want to maximize current income — roughly 15.06%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

IAUI has lagged KGLD over the trailing twelve months, posting a 14.71% total return against 24.13%. Measured from Jul 2025 — when the younger fund began trading — KGLD has compounded at 27.41% a year versus 18.23% for IAUI. IAUI has been the steadier holding, though — annualized volatility of 22.7% against 30.9% 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
IAUI-0.17%14.71%18.23%22.7%0.400.54-22.5%
KGLD1.80%24.13%27.41%30.9%0.550.74-28.3%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer 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.
MetricIAUIKGLD
Full nameNEOS Gold High Income ETFKurv Gold Enhanced Income ETF
IssuerNEOSKurv
Underlying indexGold ETPsGold
Last Close$51.61 as of September 4, 2026$27.89 as of September 4, 2026
Distribution rate12.05%15.06%
Distribution Safety Score™ 7993
Safety-Adjusted Yield 9.52%14.01%
Expense ratio0.79%1.00%
AUM$600M$157M
Distribution frequencyMonthlyMonthly
ObjectiveSeeks to generate high monthly income with potential appreciation through exposure to gold ETPs.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 classEquityEquity
Inception date06/05/202507/08/2025
Last dividend$0.5182$0.35
Ex-dividend date08/19/202609/02/2026

Bottom lineChoose IAUI if you are comfortable trading away most upside for a large, steady payout. Choose KGLD if you want to maximize current income — roughly 15.06%, generated by selling options premium.

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. IAUI and KGLD 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.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:
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Income calculator

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

NEOS
ETFs19
Total AUM$32.9B

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 IAUI.

See all NEOS ETFs
Kurv
ETFs16
Total AUM$627M

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

IAUI (NEOS Gold High Income ETF) and KGLD (Kurv Gold Enhanced Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

KGLD offers the higher yield at 15.06% vs 12.05% 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 1.00%.

They have different reference exposures: IAUI is linked to Gold ETPs while KGLD is linked to Gold, which means their performance drivers differ.

IAUI is the larger fund by assets ($600M), but assets alone do not establish trading costs or liquidity.

Who should choose each?

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 1.00% for KGLD.

Choose KGLD

Kurv Gold Enhanced Income ETF

  • Want to maximize current income — KGLD distributes roughly 15.06% from selling options premium, vs 12.05% for IAUI.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

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, IAUI would generate roughly $100.42/month, while KGLD would produce $125.50/month, at current distribution rates. Both pay monthly distributions.

IAUI yield12.05%
KGLD yield15.06%
Monthly diff on $10K$25.08

Cost & efficiency

Over 10 years on $10,000, IAUI would cost approximately $790 in fees vs $1,000 for KGLD (simplified, not compounded). The $210.00 difference may be offset by yield or performance.

IAUI ER0.79%
KGLD ER1.00%

Strategy & risk

IAUI tracks Gold ETPs with a metals approach, while KGLD tracks Gold with a metals approach.

Fund details

IAUI is managed by NEOS (launched 06/05/2025) with $600M in assets. KGLD is managed by Kurv (launched 07/08/2025) with $157M in assets.

IAUI AUM$600M
KGLD AUM$157M
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Frequently asked questions

What is the difference between IAUI and KGLD?

Both pair gold with an income overlay. IAUI (NEOS Gold High Income ETF) and KGLD (Kurv Gold Enhanced Income ETF) differ in structure and overwrite. Cost is 0.79% versus 1.00%; distributions are 12.05% and 15.06% as of September 2026. Compare how each holds gold and how much upside is sold.

What is the current distribution rate for IAUI and KGLD?

IAUI currently distributes 12.05% and KGLD 15.06%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is IAUI or KGLD better for dividend income?

It depends on your goals. KGLD 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.

Can I hold both IAUI 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.

Is IAUI or KGLD safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — KGLD scores 93, IAUI scores 79, so KGLD's payout currently looks the more resilient of the two. 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, IAUI or KGLD?

IAUI has an expense ratio of 0.79% 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 IAUI vs KGLD generate?

At current rates, $10,000 in IAUI would generate roughly $100.42 per month ($1,205.00 annually). The same in KGLD would produce about $125.50 per month ($1,506.00 annually).

Which has performed better historically, IAUI or KGLD?

IAUI has lagged KGLD over the trailing twelve months, posting a 14.71% total return against 24.13%. Measured from Jul 2025 — when the younger fund began trading — KGLD has compounded at 27.41% a year versus 18.23% for IAUI. IAUI has been the steadier holding, though — annualized volatility of 22.7% against 30.9% for KGLD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

IAUI vs KGLD — at a glance

Generated September 5, 2026.

KGLD holds gold directly with active management geared toward tax efficiency, offering 15.06% yield. IAUI's expense ratio is 0.79%, versus 1.00% for KGLD, but KGLD's distribution rate is substantially higher despite nearly identical fund age (both launched mid-2025). IAUI has $600M in assets under management against $157M for KGLD, suggesting IAUI has attracted more investor capital. Both distribute monthly, but the mechanics and sustainability of those distributions differ materially.

KGLD: Fits investors seeking maximum current income from gold exposure who are willing to tolerate potential NAV erosion and are comfortable with active management and less transparent income sources.

  • Severe size disadvantage (KGLD). KGLD's $157M AUM is roughly one-seventh that of IAUI, creating potential liquidity constraints and higher vulnerability to outflows if the high yield proves unsustainable.
  • Early fund track records. Both ETFs launched in mid-2025; neither has a full market cycle of performance data, making it difficult to assess how distributions hold up through gold price downturns or volatility spikes.
  • Gold price sensitivity. Both funds are fully exposed to gold price volatility; a sustained decline in gold prices directly reduces both NAV and the ability to sustain high distributions.

Bottom line

IAUI offers a more transparent, mechanically disciplined income approach via covered calls at a lower yield and larger asset base; KGLD chases a higher payout rate through active management and less visible income sources, accepting higher NAV erosion risk. If you value clarity and established options mechanics, IAUI's structure is more conventional; if you prioritize maximum current income and can tolerate potential principal return-of-capital, KGLD's yield is more aggressive. Past performance does not predict future results, and both funds' early vintage means distributions remain unproven through a full market cycle.

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.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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