GLDN.AX vs. KGLD
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. Over the past year, GLDN.AX returned 16.65% vs 14.44% for KGLD. At a 0.31 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
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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
The year-to-date returns for both stocks are quite close, with GLDN.AX having a -9.04% return and KGLD slightly lower at -9.29%.
GLDN.AX
- 1D
- 0.71%
- 1M
- -0.17%
- 6M
- -11.18%
- YTD
- -9.04%
- 1Y
- 16.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KGLD
- 1D
- -0.59%
- 1M
- -1.11%
- 6M
- -13.26%
- YTD
- -9.29%
- 1Y
- 14.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLDN.AX vs. KGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GLDN.AX Ishares Physical Gold ETF | -9.04% | 27.60% |
KGLD Kurv Gold Enhanced Income ETF | -9.29% | 26.87% |
Correlation
The correlation between GLDN.AX and KGLD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025 | 0.31 |
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Return for Risk
GLDN.AX vs. KGLD — Risk / Return Rank
GLDN.AX
KGLD
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.
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.
| GLDN.AX | KGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.14 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 0.58 | +0.02 |
| Martin ratioReturn relative to average drawdown | 1.36 | 1.34 | +0.02 |
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Drawdowns
GLDN.AX vs. KGLD - Drawdown Comparison
The maximum GLDN.AX drawdown since its inception was -26.62%, roughly equal to the maximum KGLD drawdown of -26.60%. Use the drawdown chart below to compare losses from any high point for GLDN.AX and KGLD.
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Drawdown Indicators
| GLDN.AX | KGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.62% | -26.60% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -26.62% | -26.60% | -0.02% |
Current DrawdownCurrent decline from peak | -24.53% | -25.10% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -8.09% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.01% | 11.55% | +0.46% |
Volatility
GLDN.AX vs. KGLD - Volatility Comparison
Ishares Physical Gold ETF (GLDN.AX) and Kurv Gold Enhanced Income ETF (KGLD) have volatilities of 6.96% and 6.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDN.AX | KGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 6.94% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 21.78% | 21.82% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.08% | 25.79% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.58% | 25.68% | -6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 25.68% | -6.10% |
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 has not paid dividends to shareholders, while KGLD's dividend yield for the trailing twelve months is around 15.27%.
| Position | TTM | 2025 |
|---|---|---|
GLDN.AX Ishares Physical Gold ETF | 0.00% | 0.07% |
KGLD Kurv Gold Enhanced Income ETF | 15.27% | 4.59% |
Frequently Asked Questions
GLDN.AX and KGLD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GLDN.AX is cheaper with a 0.18% expense ratio, compared with 1.00% for 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.
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