IAUI vs. GDX

Last updated Jun 4, 2026

IAUI (NEOS Gold High Income ETF) and GDX (VanEck Gold Miners ETF) are both exchange-traded funds - IAUI is a Derivative Income fund actively managed by Neos, while GDX is a Gold fund tracking the NYSE MarketVector Global Gold Miners Index. IAUI is actively managed, while GDX is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. IAUI charges 0.78%/yr vs 0.51%/yr for GDX.

Performance

IAUI vs. GDX - Performance Comparison

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

Returns By Period

In the year-to-date period, IAUI achieves a 1.64% return, which is significantly higher than GDX's -0.90% return.

IAUI

• 1D: -0.88%
• 1M: -1.01%
• YTD: 1.64%
• 6M: 4.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GDX

• 1D: -3.46%
• 1M: -0.76%
• YTD: -0.90%
• 6M: 5.62%
• 1Y: 61.27%
• 3Y*: 41.00%
• 5Y*: 18.69%
• 10Y*: 13.98%

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

IAUI vs. GDX - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	1.64%	20.56%
GDX VanEck Gold Miners ETF	-0.90%	62.55%

Correlation

The correlation between IAUI and GDX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.78

Return for Risk

IAUI vs. GDX — Risk / Return Rank

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

GDX

GDX Risk / Return Rank: 35
GDX Sharpe Ratio Rank: 37
GDX Sortino Ratio Rank: 32
GDX Omega Ratio Rank: 36
GDX Calmar Ratio Rank: 39
GDX Martin Ratio Rank: 33

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.

IAUI vs. GDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Gold High Income ETF (IAUI) and VanEck Gold Miners ETF (GDX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IAUI	GDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.35	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.13	+1.00

Drawdowns

IAUI vs. GDX - Drawdown Comparison

The maximum IAUI drawdown since its inception was -16.88%, smaller than the maximum GDX drawdown of -80.34%. Use the drawdown chart below to compare losses from any high point for IAUI and GDX.

Drawdown Indicators

	IAUI	GDX	Difference
Max Drawdown Largest peak-to-trough decline	-16.88%	-80.34%	+63.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-30.84%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-30.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.79%	—
Current Drawdown Current decline from peak	-13.80%	-26.62%	+12.82%
Average Drawdown Average peak-to-trough decline	-3.45%	-40.43%	+36.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.99%	—

Volatility

Volatility by Period

	IAUI	GDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	37.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.31%	45.49%	-25.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.31%	36.39%	-16.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.31%	37.18%	-16.87%

IAUI vs. GDX - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is higher than GDX's 0.51% expense ratio.

Dividends

IAUI vs. GDX - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 12.65%, more than GDX's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GDX VanEck Gold Miners ETF	0.74%	0.74%	1.19%	1.61%	1.66%	1.67%	0.53%	0.67%	0.50%	0.76%	0.26%	0.85%
IAUI NEOS Gold High Income ETF	12.65%	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 IAUI and GDX in my portfolio?

IAUI and GDX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IAUI or GDX?

On fees, GDX is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAUI or GDX?

GDX is cheaper with a 0.51% expense ratio, compared with 0.78% for IAUI.

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

IAUI has the higher dividend yield at 12.65%, compared with 0.74% for GDX.

What is the main difference between IAUI and GDX?

IAUI is categorized as Derivative Income, while GDX is Gold. They also come from different issuers: Neos and VanEck. Their fees differ too: 0.78% for IAUI and 0.51% for GDX.