GLDN.AX vs. KGLD

Last updated Jun 5, 2026

GLDN.AX (Ishares Physical Gold ETF) and KGLD (Kurv Gold Enhanced Income ETF ) are both exchange-traded funds - GLDN.AX is a Gold fund tracking the LBMA Gold Price PM AUD Index, while KGLD is a Derivative Income fund actively managed by Kurv. GLDN.AX is passively managed, while KGLD is actively managed. At a 0.36 correlation, their price movements are largely independent. GLDN.AX charges 0.18%/yr vs 1.00%/yr for KGLD.

Performance

GLDN.AX vs. KGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Ishares Physical Gold ETF (GLDN.AX) and Kurv Gold Enhanced Income ETF (KGLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLDN.AX is traded in AUD, while KGLD is traded in USD. To make them comparable, the KGLD values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, GLDN.AX achieves a -3.58% return, which is significantly lower than KGLD's -2.49% return.

GLDN.AX

• 1D: 0.67%
• 1M: -1.25%
• YTD: -3.58%
• 6M: -1.13%
• 1Y: 20.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KGLD

• 1D: 1.15%
• 1M: -0.81%
• YTD: -2.49%
• 6M: -0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLDN.AX vs. KGLD - Yearly Performance Comparison

	2026 (YTD)	2025
GLDN.AX Ishares Physical Gold ETF	-3.58%	27.45%
KGLD Kurv Gold Enhanced Income ETF	-2.49%	26.87%

Correlation

The correlation between GLDN.AX and KGLD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.36

Return for Risk

GLDN.AX vs. KGLD — Risk / Return Rank

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

GLDN.AX

GLDN.AX Risk / Return Rank: 23
GLDN.AX Sharpe Ratio Rank: 24
GLDN.AX Sortino Ratio Rank: 23
GLDN.AX Omega Ratio Rank: 28
GLDN.AX Calmar Ratio Rank: 21
GLDN.AX Martin Ratio Rank: 20

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.

GLDN.AX vs. KGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ishares Physical Gold ETF (GLDN.AX) and Kurv Gold Enhanced Income ETF (KGLD). 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.

	GLDN.AX	KGLD	Difference
Sharpe ratio: Return per unit of total volatility	0.83	—	—
Sortino ratio: Return per unit of downside risk	1.23	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	0.96	—	—
Martin ratio: Return relative to average drawdown	2.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GLDN.AX	KGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	1.02	+0.60

Drawdowns

GLDN.AX vs. KGLD - Drawdown Comparison

The maximum GLDN.AX drawdown since its inception was -21.43%, which is greater than KGLD's maximum drawdown of -20.40%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and KGLD.

Drawdown Indicators

	GLDN.AX	KGLD	Difference
Max Drawdown Largest peak-to-trough decline	-21.43%	-20.40%	-1.03%
Max Drawdown (1Y) Largest decline over 1 year	-21.43%	—	—
Current Drawdown Current decline from peak	-20.00%	-19.49%	-0.51%
Average Drawdown Average peak-to-trough decline	-4.25%	-6.42%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.22%	—	—

Volatility

Volatility by Period

	GLDN.AX	KGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.58%	25.89%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.49%	25.89%	-6.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.49%	25.89%	-6.40%

GLDN.AX vs. KGLD - Expense Ratio Comparison

GLDN.AX has a 0.18% expense ratio, which is lower than KGLD's 1.00% expense ratio.

Dividends

GLDN.AX vs. KGLD - Dividend Comparison

GLDN.AX's dividend yield for the trailing twelve months is around 0.08%, less than KGLD's 12.53% yield.

Position	TTM	2025
GLDN.AX Ishares Physical Gold ETF	0.08%	0.07%
KGLD Kurv Gold Enhanced Income ETF	12.53%	4.59%

Frequently Asked Questions

Can I hold both GLDN.AX and KGLD in my portfolio?

GLDN.AX and KGLD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDN.AX or KGLD?

On fees, GLDN.AX is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDN.AX or KGLD?

GLDN.AX is cheaper with a 0.18% expense ratio, compared with 1.00% for KGLD.

What is the main difference between GLDN.AX and KGLD?

GLDN.AX is categorized as Gold, while KGLD is Derivative Income. They also come from different issuers: iShares and Kurv. Their fees differ too: 0.18% for GLDN.AX and 1.00% for KGLD.