KGLD vs NUGY

KGLDBKurv Gold Enhanced Income ETF

NUGYDGraniteShares YieldBOOST Gold Miners 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%.

NUGY NUGY doesn't own gold or a single miner. It sells put options on a 2x daily gold miners ETF, harvesting premium from one of the most volatile corners of the gold trade, with only capped exposure to the leveraged fund itself.

Stated mandate

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

NUGY NUGY seeks income by primarily selling put options on leveraged ETFs designed to track a 2x daily version of the Arca Gold Miners Index, with secondary capped exposure to that leveraged ETF.

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.

• NUGY Unusual engine: income is generated by selling puts on a leveraged fund built to deliver 2x the daily move of gold miners, not by holding the miners.
• Anchored to a named, published benchmark, the Arca Gold Miners Index (GDM), so the underlying exposure is defined rather than discretionary.
• Standard 1940 Act fund wrapper: regular 1099 reporting, no K-1 to wait on at tax time.

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

• NUGY Fee of 1.07% sits above the gold-income cohort median and above peers such as IAUI (0.79%) and YGLD (0.53%).
• Selling puts swaps upside for premium: a miners rally largely passes the fund by, while a slide arrives through a 2x daily product.
• The issuer discloses payouts can include return of capital (principal coming back to you), and a late-2025 launch leaves a short track record.

Full KGLD profile⁠

Full NUGY profile⁠