IAUI vs. GLDW

Last updated Jul 14, 2026

IAUI (NEOS Gold High Income ETF) and GLDW (Roundhill Gold WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. With a 0.98 correlation, they move nearly in lockstep. IAUI charges 0.78%/yr vs 0.99%/yr for GLDW.

Performance

IAUI vs. GLDW - Performance Comparison

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

Returns By Period

In the year-to-date period, IAUI achieves a -7.82% return, which is significantly higher than GLDW's -11.45% return.

IAUI

• 1D: -2.12%
• 1M: -4.57%
• 6M: -12.10%
• YTD: -7.82%
• 1Y: 10.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDW

• 1D: -3.10%
• 1M: -6.19%
• 6M: -17.89%
• YTD: -11.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAUI vs. GLDW - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	-7.82%	7.95%
GLDW Roundhill Gold WeeklyPay ETF	-11.45%	9.36%

Correlation

The correlation between IAUI and GLDW 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 Oct 30, 2025	0.98

Return for Risk

IAUI vs. GLDW — Risk / Return Rank

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

IAUI

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

GLDW

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

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. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Gold High Income ETF (IAUI) and Roundhill Gold WeeklyPay ETF (GLDW). 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.

	IAUI	GLDW	Difference
Sharpe ratio: Return per unit of total volatility	0.48	—	—
Sortino ratio: Return per unit of downside risk	0.77	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.47	—	—
Martin ratio: Return relative to average drawdown	1.26	—	—

Drawdowns

IAUI vs. GLDW - Drawdown Comparison

The maximum IAUI drawdown since its inception was -22.50%, smaller than the maximum GLDW drawdown of -32.25%. Use the drawdown chart below to compare losses from any high point for IAUI and GLDW.

Drawdown Indicators

	IAUI	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-32.25%	+9.75%
Max Drawdown (1Y) Largest decline over 1 year	-22.50%	—	—
Current Drawdown Current decline from peak	-21.82%	-32.06%	+10.24%
Average Drawdown Average peak-to-trough decline	-4.92%	-11.82%	+6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	—	—

Volatility

Volatility by Period

	IAUI	GLDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.83%	36.63%	-14.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	36.63%	-15.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.10%	36.63%	-15.53%

IAUI vs. GLDW - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is lower than GLDW's 0.99% expense ratio.

Dividends

IAUI vs. GLDW - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 14.07%, less than GLDW's 25.93% yield.

Position	TTM	2025
GLDW Roundhill Gold WeeklyPay ETF	25.93%	3.75%
IAUI NEOS Gold High Income ETF	14.07%	6.88%

Frequently Asked Questions

Can I hold both IAUI and GLDW in my portfolio?

With a correlation of 0.98, IAUI and GLDW 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, IAUI or GLDW?

On fees, IAUI is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAUI or GLDW?

IAUI is cheaper with a 0.78% expense ratio, compared with 0.99% for GLDW.

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

GLDW has the higher dividend yield at 25.93%, compared with 14.07% for IAUI.

What is the main difference between IAUI and GLDW?

They also come from different issuers: Neos and State Street. Their fees differ too: 0.78% for IAUI and 0.99% for GLDW.