IAU vs. KGLD

Last updated Jun 4, 2026

IAU (iShares Gold Trust) and KGLD (Kurv Gold Enhanced Income ETF ) are both exchange-traded funds - IAU is a Gold fund tracking the LBMA Gold Price, while KGLD is a Derivative Income fund actively managed by Kurv. IAU is passively managed, while KGLD is actively managed. With a 0.98 correlation, they move nearly in lockstep. IAU charges 0.25%/yr vs 1.00%/yr for KGLD.

Performance

IAU vs. KGLD - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with IAU having a 2.98% return and KGLD slightly higher at 2.99%.

IAU

• 1D: -0.98%
• 1M: -1.62%
• YTD: 2.98%
• 6M: 5.50%
• 1Y: 32.20%
• 3Y*: 31.29%
• 5Y*: 18.32%
• 10Y*: 13.31%

KGLD

• 1D: -1.05%
• 1M: -1.84%
• YTD: 2.99%
• 6M: 5.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAU vs. KGLD - Yearly Performance Comparison

	2026 (YTD)	2025
IAU iShares Gold Trust	2.98%	30.37%
KGLD Kurv Gold Enhanced Income ETF	2.99%	29.75%

Correlation

The correlation between IAU and KGLD is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.98

Return for Risk

IAU vs. KGLD — Risk / Return Rank

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

IAU

IAU Risk / Return Rank: 32
IAU Sharpe Ratio Rank: 33
IAU Sortino Ratio Rank: 29
IAU Omega Ratio Rank: 36
IAU Calmar Ratio Rank: 33
IAU Martin Ratio Rank: 29

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.

IAU vs. KGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) 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.

	IAU	KGLD	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.62	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.69	—	—
Martin ratio: Return relative to average drawdown	4.19	—	—
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

	IAU	KGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.32	-0.70

Drawdowns

IAU vs. KGLD - Drawdown Comparison

The maximum IAU drawdown since its inception was -45.14%, which is greater than KGLD's maximum drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for IAU and KGLD.

Drawdown Indicators

	IAU	KGLD	Difference
Max Drawdown Largest peak-to-trough decline	-45.14%	-20.29%	-24.85%
Max Drawdown (1Y) Largest decline over 1 year	-19.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.82%	—	—
Current Drawdown Current decline from peak	-17.70%	-19.40%	+1.70%
Average Drawdown Average peak-to-trough decline	-15.96%	-6.10%	-9.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.71%	—	—

Volatility

Volatility by Period

	IAU	KGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.42%	28.72%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	28.72%	-10.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.90%	28.72%	-12.82%

IAU vs. KGLD - Expense Ratio Comparison

IAU has a 0.25% expense ratio, which is lower than KGLD's 1.00% expense ratio.

Dividends

IAU vs. KGLD - Dividend Comparison

IAU has not paid dividends to shareholders, while KGLD's dividend yield for the trailing twelve months is around 12.64%.

Position	TTM	2025
IAU iShares Gold Trust	0.00%	0.00%
KGLD Kurv Gold Enhanced Income ETF	12.64%	4.59%

Frequently Asked Questions

Can I hold both IAU and KGLD in my portfolio?

With a correlation of 0.98, IAU and KGLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IAU or KGLD?

On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAU or KGLD?

IAU is cheaper with a 0.25% expense ratio, compared with 1.00% for KGLD.

Which ETF pays a higher dividend yield, IAU or KGLD?

KGLD has the higher dividend yield at 12.64%, compared with 0.00% for IAU.

What is the main difference between IAU and KGLD?

IAU is categorized as Gold, while KGLD is Derivative Income. They also come from different issuers: iShares and Kurv. Their fees differ too: 0.25% for IAU and 1.00% for KGLD.