GDXY vs IAUI

GDXYCYieldMax Gold Miners Option Income Strategy ETF

IAUIANEOS Gold High Income ETF

In short

GDXY Most gold-income funds write options on bullion. GDXY writes call spreads on the miners instead, collecting premium while leaving room to participate when the shares run past the spread. The option-income playbook, pointed at gold's equity cousin.

IAUI Gold pays no dividend. IAUI's whole job is to change that: exposure to gold ETPs wrapped in a strategy seeking high monthly income, at 0.79% a year.

Stated mandate

GDXY GDXY seeks weekly income by selling call spreads on the VanEck Gold Miners ETF (GDX), while retaining participation in GDX share-price appreciation.

IAUI The Fund seeks high monthly income and potential appreciation through exposure to exchange-traded products that directly expose investors to gold.

Why people hold it

• GDXY Sells call spreads rather than plain covered calls, so upside is given up inside the strike band while moves beyond it can still come through.
• Targets gold miners (GDX) instead of the metal, unlike cohort peers IAUI, IGLD and YGLD, which build their income around gold itself.
• Actively traded for a fund launched in 2024, and it stands in the upper half of its gold-income options peer group.
• Income is distributed on a recurring schedule rather than saved for a year-end lump, which is the whole design brief here.

• IAUI Gold on its own throws off no cash. This fund seeks high monthly income from gold ETP exposure and distributes on a monthly cadence.neosfunds.com
• 0.79% a year, under the 0.99% median for its gold options-income cohort and below the miner-based route (GDXY at 1.00%, IGLD at 0.85%).
• The metal, not the miners: exposure runs through gold ETPs, so mine costs, labor strikes and company-level missteps stay out of the picture.neosfunds.com
• Sits among the strongest overall implementations in its gold-income peer group, and it changes hands with respectable volume for such a narrow niche.

Worth knowing

• GDXY The 1.00% expense ratio sits right at the cohort median, and cheaper routes to gold option income exist, including YGLD at 0.53% and IAUI at 0.79%.
• Exposure is synthetic: the fund runs an options book on GDX rather than owning miner shares, so the option positions drive what holders actually get.
• Premium collected rises and falls with gold-miner volatility, and with a 2024 launch there is only a short record to judge the strategy against.

• IAUI One commodity, one story. No earnings or dividends sit underneath; the position lives and dies by the gold price.
• Distributions can include return of capital, which means part of a payout may be your own money handed back rather than income earned.neosfunds.com
• Launched in 2025, so the track record is short and any read on its risk profile rests on limited history.

Full GDXY profile⁠

Full IAUI profile⁠