KGLD vs KSLV

KGLDCKurv Gold Enhanced Income ETF

KSLVCKurv Silver Enhanced Income ETF

In short

KGLD Most gold income funds hold metal and sell calls on it. KGLD builds the gold position out of options instead, parks the freed cash in short-dated bonds, then writes calls on top. Active, no index, monthly payouts, 0.99%.

KSLV Nearly every fund in the precious-metals income aisle is built on gold. KSLV takes the silver side, pairing options income with silver-price exposure and paying monthly. Fee: 0.99%, no waiver, right around the category norm.

Stated mandate

KGLD The Fund seeks to maximize total return through active management of efficient gold exposure while also generating potentially tax-efficient income.

KSLV The Fund seeks to maximize total return by actively managing a portfolio with efficient exposure to silver while generating potentially tax-efficient income.

Why people hold it

• KGLD Gold exposure is built from options: buy calls, sell puts at matching strikes and expiries on gold ETPs. The freed collateral sits in short-dated bonds, a second income stream.sec.gov
• Actively managed against no index. The adviser picks strikes and expiries, and may write uncovered calls when it sees volatility mispriced in the market.sec.gov
• Bullion itself pays nothing. Here the monthly cash is manufactured from option premiums plus the bond collateral sitting behind the options.sec.gov
• Sits in the upper half of its gold-income peer group on our review.

• KSLV The metals income shelf is almost all gold (IAUI, IGLD, KGLD). KSLV runs the same call-writing playbook on silver.
• Actively managed overlay: the adviser can write calls on part of the position, or uncovered when it sees volatility mispriced, instead of a fixed slice each month.sec.gov
• Pays monthly, with silver exposure built from options on silver ETPs inside a registered 1940 Act fund.sec.gov

Worth knowing

• KGLD Written calls limit participation once gold runs past the strike, and uncovered writing beyond the long position carries risks the prospectus spells out.sec.gov
• 0.99% with no waiver. Near the category median, but above listed peers YGLD (0.62%) and IAUI (0.79%).
• Launched in 2025, so the record is short. The fund discloses that payouts can include return of capital, which reduces NAV per share.sec.gov

• KSLV Distributions can include return of capital, so part of a payment may be your own money coming back.
• Written calls limit participation in a silver rally, and the adviser may write uncovered calls, which carries risk beyond a plain covered-call sleeve.sec.gov
• Costs 0.99% with no fee waiver: near the category norm, above gold-overlay peers like YGLD (0.62%) and SLJY (0.76%). It launched in 2025, so the record is short.

Full KGLD profile⁠

Full KSLV profile⁠