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Launched · SEC filings

Nicholas Gold Income ETF

GLDNNYSE ArcaNicholasxD

$13.93+0.37 (+2.71%)

As of Nov 2, 2026, 2:54 PM ET

D28/ 100

Rank 12 of 12 in Gold & Metals Option Income

D28/100Rank 12 of 12inGold & Metals Option Income
Intraday session: up, 66 prints from 13.56 to 13.93. Range 13.89 to 14.10. Use the arrow keys to read each point.13.7013.8014.0014.1010 AM12 PM2 PM4 PM
Expense ratio
1.07%
Fund size
$4M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
28
Avg volume · 30D
7.2K sh
52W range
low $13.36high $22.64
Launched
Filings
SEC EDGAR

The ETF.net GLDN Grade

Based on 5 of 6 pillars

D

Score 28 out of 100

Category
Gold & Metals Option Income⁠
Rank
12 of 12
Six-pillar profile for GLDN. Scores out of 100: Cost 12, Risk 34, Mission not scored, Tradability 28, Holdings 71, Durability 29. Strongest: Holdings (71). Weakest: Cost (12). Based on 5 of 6 pillars.

Score 28 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
29
This cap took
0
Published Score
28 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F12 out of 100
    Rank 11 of 12

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D34 out of 100
    Rank 9 of 12

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 11 of 12

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A71 out of 100
    Rank 2 of 6

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D29 out of 100
    Rank 11 of 12

Our read on GLDN

ETF.net Research

In short

DMost gold-income funds pick a lane: the miners or the metal. GLDN swings at both plus an options overlay in one actively managed wrapper, and it keeps capital appreciation as the primary goal with income riding shotgun.

Stated mandate

The Fund is actively managed and seeks capital appreciation as its primary objective, with current income as a secondary objective. It combines gold-industry equities, commodity exposure, and an options overlay.

Why people hold it

  • Three gold trades in one wrapper: gold-industry equities, commodity exposure, and an options overlay, run by an active manager rather than a fixed index.
  • Growth first, income second. The prospectus names capital appreciation the primary objective, so the call writing layers on top of gold exposure instead of replacing it.
  • A concentrated book of roughly 50 positions, so individual manager picks actually move the needle.
  • Built as a 1940 Act registered fund, the plain-vanilla ETF wrapper, not a commodity partnership.

Worth knowing

  • At 1.07%, the fee sits above most gold-income rivals, including IAUI and YGLD. Active stock picking plus an overlay costs more than an index-and-calls build.
  • Writing options for income means handing back part of a big gold move. That trade-off is baked into the strategy.
  • A 2026 launch that is still small and thinly traded, so there is no long record yet and spreads can run wider than at the category's heavyweights.

GLDN Holdings

Holdings pillarA71 out of 100Rank 2 of 6 in Gold & Metals Option Income
Asset class
Stocks
Holdings
28
Top-10 weight
83%
Largest holding
First American Government Obligations Fund 12/01/203129.5%

Sectors

  • Materials100.0%

Geography

  • Canada57.04%
  • United States35.09%
  • South Africa7.87%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataFirst American Government Obligations Fund 12/01/203129.46%1,160,241$1.16M477
2GLDMSPDR Gold MiniShares Trust14.80%7,329$583K14
3EQXEquinox Gold Corp5.97%23,100$235K21
4SSREFSSR Mining Inc5.81%8,100$229K15
5NEMNewmont Corp4.83%1,700$190K442
6FNVFranco-Nevada Corp4.70%800$185K36
7BBarrick Mining Corp4.52%4,600$178K51
8AEMAgnico Eagle Mines Ltd4.47%1,000$176K40
9AUAnglogold Ashanti Plc4.32%2,000$170K124
10HMYHarmony Gold Mining Co Ltd4.31%10,800$170K25
11RGLDRoyal Gold Inc4.21%700$166K194
12BTGB2Gold Corp3.88%30,600$153K18
13EGOEldorado Gold Corp3.86%4,700$152K19
14No dataCash & Other3.64%143,518$144K609
15KGCKinross Gold Corp3.51%6,400$138K35

Showing 1–15 of 28 holdings

GLDN Performance

Launched Feb 17, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
GLDN$10,078
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. GLDN $10,078. SPY $10,141. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for GLDN. Periods over one year show the average yearly return.
PeriodGLDN
Year to dateFund launched this yearNo data
1 month−11.3%
3 months+0.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for GLDN
YearReturn barGLDN
2026 YTD−26.6%

History from Feb 18, 2026

GLDN in the news

GLDN Dividends

Last payment
$0.04 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Weekly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 34 payments in 2026 YTD. Mar 9, 2026 $0.06; Mar 16, 2026 $0.06; Mar 23, 2026 $0.05; Mar 30, 2026 $0.05; Apr 6, 2026 $0.05; Apr 13, 2026 $0.06; Apr 20, 2026 $0.05; Apr 27, 2026 $0.05; May 4, 2026 $0.05; May 11, 2026 $0.05; May 18, 2026 $0.05; May 22, 2026 $0.05; Jun 1, 2026 $0.05; Jun 8, 2026 $0.05; Jun 15, 2026 $0.04; Jun 22, 2026 $0.05; Jun 29, 2026 $0.04; Jul 6, 2026 $0.04; Jul 13, 2026 $0.04; Jul 20, 2026 $0.04; Jul 27, 2026 $0.04; Aug 3, 2026 $0.04; Aug 10, 2026 $0.04; Aug 17, 2026 $0.05; Aug 24, 2026 $0.05; Aug 31, 2026 $0.05; Sep 4, 2026 $0.05; Sep 14, 2026 $0.05; Sep 21, 2026 $0.05; Sep 28, 2026 $0.05; Oct 5, 2026 $0.04; Oct 9, 2026 $0.04; Oct 19, 2026 $0.04; Oct 26, 2026 $0.04. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 3, 2026$0.04
Oct 26, 2026Oct 27, 2026$0.04
Oct 19, 2026Oct 20, 2026$0.04
Oct 9, 2026Oct 13, 2026$0.04
Oct 5, 2026Oct 6, 2026$0.04
Sep 28, 2026Sep 29, 2026$0.05
Sep 21, 2026Sep 22, 2026$0.05
Sep 14, 2026Sep 15, 2026$0.05
Sep 4, 2026Sep 8, 2026$0.05
Aug 31, 2026Sep 1, 2026$0.05
Aug 24, 2026Aug 25, 2026$0.05
Aug 17, 2026Aug 18, 2026$0.05

See all 35 payments⁠

GLDN Risk

Risk pillarD34 out of 100Rank 9 of 12 in Gold & Metals Option Income
How much the fund’s monthly returns vary, scaled to a year.
Launched Feb 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Feb 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Feb 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.96
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

GLDN Cost

Compare GLDN and YGLD

Overpaying vs YGLD, cheapest in Gold & Metals Option Income

$9,095

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GLDN 1.07%

    $19,815

  • YGLD 0.54% Cheapest

    $10,720

$10,000
30 years

Cost over time

  • GLDN 1.07%
  • YGLD 0.54%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530GLDN $19,815YGLD $10,720

Year by year

YearGLDNYGLDOverpaying
10$1,881$971$910
20$7,046$3,724$3,322
30$19,815$10,720$9,095

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