GLDN vs SLJY

GLDNDNicholas Gold Income ETF

SLJYBAmplify SILJ Covered Call ETF

In short

GLDN Most 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.

SLJY Junior silver miners swing hard. SLJY sells that volatility: an out-of-the-money covered-call overlay on a junior silver miner basket, targeting 18% annualized option premium and paying monthly.

Stated mandate

GLDN 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.

SLJY The fund seeks to balance high income and capital appreciation through exposure to junior silver mining companies and a covered-call strategy.

Why people hold it

• GLDN 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.

• SLJY An income overlay on a corner that rarely gets one: calls written on junior silver miners, targeting 18% annualized option premium, paid monthly. A target, not a guarantee.amplifyetfs.comamplifyetfs.com 2
• Strikes are set above the market rather than at it, so some room for miner rallies stays in the portfolio.amplifyetfs.comamplifyetfs.com 2
• Roughly 50 junior miners plus silver ETP exposure in one ticker, instead of betting on which small explorer makes it.amplifyetfs.com

Worth knowing

• GLDN 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.

• SLJY It runs 0.76% a year against a 0.52% median for precious-metals miner funds, and it trades lightly next to giants like GDX, so spreads can run wider.
• Covered calls trade upside for income: if junior silvers rip past the written strikes, the fund gives back part of that move.amplifyetfs.com
• Amplify discloses distributions can include return of capital, so part of a payout may be principal coming back. Launched in 2025, so the record is short.amplifyetfs.com

Full GLDN profile⁠

Full SLJY profile⁠