GGN vs. IAUI

Last updated Jun 24, 2026

GGN (GAMCO Global Gold, Natural Resources and Income Trust) and IAUI (NEOS Gold High Income ETF) are both funds - GGN is a Gold fund managed by Gabelli, while IAUI is a Derivative Income fund actively managed by Neos. Over the past year, GGN returned 16.41% vs 12.83% for IAUI. A 0.68 correlation means they provide meaningful diversification when combined. GGN charges 0.01%/yr vs 0.78%/yr for IAUI.

Performance

GGN vs. IAUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GAMCO Global Gold, Natural Resources and Income Trust (GGN) 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, GGN achieves a -2.80% return, which is significantly higher than IAUI's -5.63% return.

GGN

• 1D: -2.02%
• 1M: -5.25%
• YTD: -2.80%
• 6M: -5.19%
• 1Y: 16.41%
• 3Y*: 19.60%
• 5Y*: 13.57%
• 10Y*: 8.21%

IAUI

• 1D: -2.15%
• 1M: -8.06%
• YTD: -5.63%
• 6M: -8.22%
• 1Y: 12.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGN vs. IAUI - Yearly Performance Comparison

	2026 (YTD)	2025
GGN GAMCO Global Gold, Natural Resources and Income Trust	-2.80%	21.11%
IAUI NEOS Gold High Income ETF	-5.63%	20.00%

Correlation

The correlation between GGN and IAUI is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.68

The correlation between GGN and IAUI has been stable across timeframes, ranging from 0.68 to 0.68 - a consistent structural relationship.

Return for Risk

GGN vs. IAUI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGN

GGN Risk / Return Rank: 10
GGN Sharpe Ratio Rank: 9
GGN Sortino Ratio Rank: 9
GGN Omega Ratio Rank: 10
GGN Calmar Ratio Rank: 11
GGN Martin Ratio Rank: 10

IAUI

IAUI Risk / Return Rank: 18
IAUI Sharpe Ratio Rank: 19
IAUI Sortino Ratio Rank: 17
IAUI Omega Ratio Rank: 20
IAUI Calmar Ratio Rank: 16
IAUI Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GGN vs. IAUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GAMCO Global Gold, Natural Resources and Income Trust (GGN) 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.

	GGN	IAUI	Difference
Sharpe ratio: Return per unit of total volatility	0.70	0.60	+0.09
Sortino ratio: Return per unit of downside risk	1.03	0.91	+0.11
Omega ratio: Gain probability vs. loss probability	1.14	1.13	+0.01
Calmar ratio: Return relative to maximum drawdown	0.98	0.63	+0.35
Martin ratio: Return relative to average drawdown	2.71	1.87	+0.84

GGN vs. IAUI - Sharpe Ratio Comparison

The current GGN Sharpe Ratio is 0.70, which is comparable to the IAUI Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of GGN 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

GGN vs. IAUI - Drawdown Comparison

The maximum GGN drawdown since its inception was -73.04%, which is greater than IAUI's maximum drawdown of -20.43%. Use the drawdown chart below to compare losses from any high point for GGN and IAUI.

Drawdown Indicators

	GGN	IAUI	Difference
Max Drawdown Largest peak-to-trough decline	-73.04%	-20.43%	-52.61%
Max Drawdown (1Y) Largest decline over 1 year	-16.80%	-20.43%	+3.63%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.04%	—	—
Current Drawdown Current decline from peak	-15.19%	-19.97%	+4.78%
Average Drawdown Average peak-to-trough decline	-31.74%	-4.13%	-27.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.07%	6.86%	-0.79%

Volatility

GGN vs. IAUI - Volatility Comparison

The current volatility for GAMCO Global Gold, Natural Resources and Income Trust (GGN) is 7.17%, while NEOS Gold High Income ETF (IAUI) has a volatility of 7.78%. This indicates that GGN experiences smaller price fluctuations and is considered to be less risky than IAUI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGN	IAUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.17%	7.78%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	19.58%	19.82%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	23.69%	21.42%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.20%	21.06%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.10%	21.06%	+2.04%

GGN vs. IAUI - Expense Ratio Comparison

GGN has a 0.02% expense ratio, which is lower than IAUI's 0.78% expense ratio.

Dividends

GGN vs. IAUI - Dividend Comparison

GGN's dividend yield for the trailing twelve months is around 7.42%, less than IAUI's 14.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGN GAMCO Global Gold, Natural Resources and Income Trust	7.42%	6.98%	9.55%	10.37%	9.92%	9.60%	13.68%	13.64%	16.22%	11.52%	15.85%	17.68%
IAUI NEOS Gold High Income ETF	14.80%	6.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGN and IAUI in my portfolio?

GGN and IAUI have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGN or IAUI?

IAUI has higher volatility (7.78%) compared to GGN (7.17%). In terms of maximum drawdown, GGN dropped -73.04% vs IAUI's -20.43%.

Which has better risk-adjusted returns?

GGN currently has the higher Sharpe Ratio (0.70 vs 0.60), 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.