GDXY vs. IAUI

Last updated Aug 2, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and IAUI (NEOS Gold High Income ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while IAUI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, GDXY returned 13.14% vs 11.61% for IAUI. Their 0.79 correlation means they have sometimes moved together and sometimes differently. GDXY charges 1.08%/yr vs 0.78%/yr for IAUI.

Performance

GDXY vs. IAUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Gold Miners Option Income Strategy ETF (GDXY) and NEOS Gold High Income ETF (IAUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXY achieves a -18.85% return, which is significantly lower than IAUI's -6.62% return.

GDXY

• 1D: -2.75%
• 1M: -3.94%
• 6M: -22.61%
• YTD: -18.85%
• 1Y: 13.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.49%

IAUI

• 1D: -1.12%
• 1M: -0.98%
• 6M: -13.50%
• YTD: -6.62%
• 1Y: 11.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXY YieldMax Gold Miners Option Income Strategy ETF	$4.52M	$4.39M	$7.85M
IAUI NEOS Gold High Income ETF	$8.84M	$8.74M	$10.60M

GDXY vs. IAUI - Yearly Performance Comparison

	2026 (YTD)	2025
GDXY YieldMax Gold Miners Option Income Strategy ETF	-18.85%	39.60%
IAUI NEOS Gold High Income ETF	-6.62%	20.00%

Correlation

The correlation between GDXY and IAUI is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.79

The correlation between GDXY and IAUI has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

GDXY vs. IAUI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXY

GDXY Risk / Return Rank: 19
GDXY Sharpe Ratio Rank: 19
GDXY Sortino Ratio Rank: 20
GDXY Omega Ratio Rank: 22
GDXY Calmar Ratio Rank: 18
GDXY Martin Ratio Rank: 17

IAUI

IAUI Risk / Return Rank: 24
IAUI Sharpe Ratio Rank: 26
IAUI Sortino Ratio Rank: 25
IAUI Omega Ratio Rank: 27
IAUI Calmar Ratio Rank: 21
IAUI Martin Ratio Rank: 21

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXY vs. IAUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) and NEOS Gold High Income ETF (IAUI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GDXY	IAUI	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.61	-0.24
Sortino ratio: Return per unit of downside risk	0.70	0.92	-0.22
Omega ratio: Gain probability vs. loss probability	1.10	1.13	-0.03
Calmar ratio: Return relative to maximum drawdown	0.39	0.60	-0.20
Martin ratio: Return relative to average drawdown	0.85	1.39	-0.53

GDXY vs. IAUI - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.37, which is lower than the IAUI Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of GDXY and IAUI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GDXY vs. IAUI - Drawdown Comparison

The maximum GDXY drawdown since its inception was -36.99%, which is greater than IAUI's maximum drawdown of -22.50%. Use the drawdown chart below to compare losses from any high point for GDXY and IAUI.

Drawdown Indicators

	GDXY	IAUI	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-22.50%	-14.49%
Max Drawdown (1Y) Largest decline over 1 year	-36.99%	-22.50%	-14.49%
Current Drawdown Current decline from peak	-34.85%	-20.80%	-14.05%
Average Drawdown Average peak-to-trough decline	-8.31%	-5.69%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.02%	9.68%	+7.34%

Volatility

GDXY vs. IAUI - Volatility Comparison

YieldMax Gold Miners Option Income Strategy ETF (GDXY) has a higher volatility of 9.85% compared to NEOS Gold High Income ETF (IAUI) at 5.63%. This indicates that GDXY's price experiences larger fluctuations and is considered to be riskier than IAUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXY	IAUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	5.63%	+4.22%
Volatility (6M) Calculated over the trailing 6-month period	33.12%	20.05%	+13.07%
Volatility (1Y) Calculated over the trailing 1-year period	39.36%	22.14%	+17.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	20.99%	+11.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.57%	20.99%	+11.58%

GDXY vs. IAUI - Expense Ratio Comparison

GDXY has a 1.08% expense ratio, which is higher than IAUI's 0.78% expense ratio.

Dividends

GDXY vs. IAUI - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 88.00%, more than IAUI's 13.96% yield.

Position	TTM	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	88.00%	52.13%	23.91%
IAUI NEOS Gold High Income ETF	13.96%	6.88%	0.00%

Frequently Asked Questions

Can I hold both GDXY and IAUI in my portfolio?

GDXY and IAUI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXY or IAUI?

GDXY has higher volatility (9.85%) compared to IAUI (5.63%). In terms of maximum drawdown, GDXY dropped -36.99% vs IAUI's -22.50%.

Which ETF is better, GDXY or IAUI?

On 1-year performance, GDXY leads with 13.14% vs 11.61% for IAUI. On fees, IAUI is cheaper at 0.78% per year. On volatility, IAUI has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or IAUI?

Over the 1-year period, GDXY has performed better with a 13.14% return vs 11.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or IAUI?

IAUI is cheaper with a 0.78% expense ratio, compared with 1.08% for GDXY.

Which ETF pays a higher dividend yield, GDXY or IAUI?

GDXY has the higher dividend yield at 88.00%, compared with 13.96% for IAUI.

What is the main difference between GDXY and IAUI?

GDXY is categorized as Gold, while IAUI is Derivative Income. They also come from different issuers: YieldMax and Neos. Their fees differ too: 1.08% for GDXY and 0.78% for IAUI.

Which has better risk-adjusted returns?

IAUI currently has the higher Sharpe Ratio (0.61 vs 0.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.