IGLD vs. IWMI

Last updated Jun 13, 2026

IGLD (FT Vest Gold Strategy Target Income ETF) and IWMI (NEOS Russell 2000 High Income ETF) are both exchange-traded funds - IGLD is a Gold fund actively managed by First Trust, while IWMI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, IGLD returned 16.13% vs 36.11% for IWMI. At a 0.17 correlation, their price movements are largely independent. IGLD charges 0.85%/yr vs 0.68%/yr for IWMI.

Performance

IGLD vs. IWMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Gold Strategy Target Income ETF (IGLD) and NEOS Russell 2000 High Income ETF (IWMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGLD achieves a -3.45% return, which is significantly lower than IWMI's 15.10% return.

IGLD

• 1D: -0.23%
• 1M: -8.86%
• YTD: -3.45%
• 6M: -2.82%
• 1Y: 16.13%
• 3Y*: 20.89%
• 5Y*: 12.02%
• 10Y*: —

IWMI

• 1D: 0.76%
• 1M: 2.69%
• YTD: 15.10%
• 6M: 13.17%
• 1Y: 36.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IGLD vs. IWMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IGLD FT Vest Gold Strategy Target Income ETF	-3.45%	47.46%	9.60%
IWMI NEOS Russell 2000 High Income ETF	15.10%	14.97%	6.58%

Correlation

The correlation between IGLD and IWMI is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 25, 2024	0.17

Return for Risk

IGLD vs. IWMI — Risk / Return Rank

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

IGLD

IGLD Risk / Return Rank: 23
IGLD Sharpe Ratio Rank: 23
IGLD Sortino Ratio Rank: 22
IGLD Omega Ratio Rank: 26
IGLD Calmar Ratio Rank: 21
IGLD Martin Ratio Rank: 22

IWMI

IWMI Risk / Return Rank: 83
IWMI Sharpe Ratio Rank: 81
IWMI Sortino Ratio Rank: 81
IWMI Omega Ratio Rank: 77
IWMI Calmar Ratio Rank: 85
IWMI Martin Ratio Rank: 88

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.

IGLD vs. IWMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Target Income ETF (IGLD) and NEOS Russell 2000 High Income ETF (IWMI). 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.

	IGLD	IWMI	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.26	-1.53
Sortino ratio: Return per unit of downside risk	1.08	3.11	-2.04
Omega ratio: Gain probability vs. loss probability	1.16	1.39	-0.23
Calmar ratio: Return relative to maximum drawdown	0.80	4.12	-3.32
Martin ratio: Return relative to average drawdown	2.45	16.99	-14.53

IGLD vs. IWMI - Sharpe Ratio Comparison

The current IGLD Sharpe Ratio is 0.73, which is lower than the IWMI Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of IGLD and IWMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IGLD vs. IWMI - Drawdown Comparison

The maximum IGLD drawdown since its inception was -21.90%, smaller than the maximum IWMI drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for IGLD and IWMI.

Drawdown Indicators

	IGLD	IWMI	Difference
Max Drawdown Largest peak-to-trough decline	-21.90%	-23.88%	+1.98%
Max Drawdown (1Y) Largest decline over 1 year	-21.90%	-8.40%	-13.50%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	—	—
Current Drawdown Current decline from peak	-19.44%	0.00%	-19.44%
Average Drawdown Average peak-to-trough decline	-5.31%	-4.07%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.12%	2.04%	+5.08%

Volatility

IGLD vs. IWMI - Volatility Comparison

FT Vest Gold Strategy Target Income ETF (IGLD) has a higher volatility of 7.55% compared to NEOS Russell 2000 High Income ETF (IWMI) at 5.62%. This indicates that IGLD's price experiences larger fluctuations and is considered to be riskier than IWMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGLD	IWMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	5.62%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	22.02%	11.38%	+10.64%
Volatility (1Y) Calculated over the trailing 1-year period	24.13%	15.35%	+8.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.44%	17.99%	-2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.23%	17.99%	-2.76%

IGLD vs. IWMI - Expense Ratio Comparison

IGLD has a 0.85% expense ratio, which is higher than IWMI's 0.68% expense ratio.

Dividends

IGLD vs. IWMI - Dividend Comparison

IGLD's dividend yield for the trailing twelve months is around 18.87%, more than IWMI's 13.32% yield.

Position	TTM	2025	2024	2023	2022	2021
IGLD FT Vest Gold Strategy Target Income ETF	18.87%	9.91%	20.81%	7.85%	4.45%	2.24%
IWMI NEOS Russell 2000 High Income ETF	13.32%	14.05%	8.78%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGLD and IWMI in my portfolio?

IGLD and IWMI have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGLD or IWMI?

IGLD has higher volatility (7.55%) compared to IWMI (5.62%). In terms of maximum drawdown, IGLD dropped -21.90% vs IWMI's -23.88%.

Which ETF is better, IGLD or IWMI?

On 1-year performance, IWMI leads with 36.11% vs 16.13% for IGLD. On fees, IWMI is cheaper at 0.68% per year. On volatility, IWMI has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGLD or IWMI?

Over the 1-year period, IWMI has performed better with a 36.11% return vs 16.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGLD or IWMI?

IWMI is cheaper with a 0.68% expense ratio, compared with 0.85% for IGLD.

Which ETF pays a higher dividend yield, IGLD or IWMI?

IGLD has the higher dividend yield at 18.87%, compared with 13.32% for IWMI.

What is the main difference between IGLD and IWMI?

IGLD is categorized as Gold, while IWMI is Derivative Income. They also come from different issuers: First Trust and Neos. Their fees differ too: 0.85% for IGLD and 0.68% for IWMI.

Which has better risk-adjusted returns?

IWMI currently has the higher Sharpe Ratio (2.26 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.