GOLI vs IGLD

GOLIDDefiance Gold Enhanced Options Income ETF

IGLDAFT Vest Gold Strategy Target Income ETF

In short

GOLI Most gold income funds hold the metal and sell calls. GOLI flips the trade: it builds gold exposure synthetically with options on SPDR Gold Shares, then sells at-the-money or in-the-money puts at least weekly to harvest premium. Income first, metal second.

IGLD Gold that pays you monthly. IGLD holds Treasuries plus options tied to the SPDR Gold Trust, chasing bullion's price moves while selling calls to fund a monthly distribution. Running since 2021.

Stated mandate

GOLI GOLI seeks current income through options while retaining indirect exposure to SPDR® Gold Shares (GLD), with potential gains limited by its strategy.

IGLD The fund seeks participation in the price returns of SPDR Gold Trust while providing consistent income. It invests mainly in U.S. Treasury securities and a subsidiary holding exchange-traded options referencing that gold ETF.

Why people hold it

• GOLI A put-writing engine rather than a covered call: it sells puts on GLD struck at the money or up to 5% in the money at least once a week, so premium and intrinsic value both feed income.defianceetfs.com
• Because the strikes can sit in the money, Defiance describes a payoff that can work whether gold rises, sits flat, or slips modestly from where the option was written.defianceetfs.com
• Bullion pays no dividend and no interest. This fund's whole job is manufacturing cash flow from it, with a stated aim of income paid on a weekly cadence.defianceetfs.com

• IGLD An early mover in gold options-income. Launched in 2021, it has run its call-selling engine through real gold cycles, not a backtest.ftportfolios.com
• 0.85% a year undercuts the typical fee in the gold options-income crowd.
• Plain plumbing: Treasuries as collateral, a subsidiary holding the gold options, all inside a standard 1940 Act fund. No K-1 partnership paperwork.ftportfolios.com
• Distributions land monthly, and the fund sits among the stronger builds in its peer group for doing what its documents say.

Worth knowing

• GOLI At 1.04% it sits above the roughly 1% median for gold options-income funds, with cheaper routes in the same cohort (YGLD at 0.53%, IAUI at 0.79%), and it trades thinly, so spreads add to the tab.
• Upside is limited by design, and you never own metal: exposure is assembled from options referencing GLD, not bullion or GLD shares.defianceetfs.com
• Defiance discloses that payouts have included return of capital, which lowers NAV and share price over time, and the fund only launched in 2025, so the record is short.defianceetfs.com

• IGLD No bars in a vault here. Exposure comes from options referencing a gold ETF, and the calls sold to fund income trim how much of a gold rally you keep.ftportfolios.com
• Part of a payout can be return of capital, which is your own money coming back and lowers your cost basis.ftportfolios.com
• Not the cheapest seat in the room: YGLD charges 0.53% for its own gold-plus-income spin.

Full GOLI profile⁠

Full IGLD profile⁠