IWMI vs. IGLD

Last updated Jun 13, 2026

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

Performance

IWMI vs. IGLD - Performance Comparison

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

Returns By Period

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

IWMI

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

IGLD

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

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

IWMI vs. IGLD - Yearly Performance Comparison

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

Correlation

The correlation between IWMI and IGLD 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

IWMI vs. IGLD — Risk / Return Rank

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

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

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

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.

IWMI vs. IGLD - Risk-Adjusted Trends Comparison

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

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

IWMI vs. IGLD - Sharpe Ratio Comparison

The current IWMI Sharpe Ratio is 2.26, which is higher than the IGLD Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of IWMI and IGLD, 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

IWMI vs. IGLD - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

IWMI vs. IGLD - Volatility Comparison

The current volatility for NEOS Russell 2000 High Income ETF (IWMI) is 5.62%, while FT Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 7.55%. This indicates that IWMI experiences smaller price fluctuations and is considered to be less risky than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

IWMI vs. IGLD - Expense Ratio Comparison

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

Dividends

IWMI vs. IGLD - Dividend Comparison

IWMI's dividend yield for the trailing twelve months is around 13.32%, less than IGLD's 18.87% 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 IWMI and IGLD in my portfolio?

IWMI and IGLD 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, IWMI or IGLD?

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

Which ETF is better, IWMI or IGLD?

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, IWMI or IGLD?

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, IWMI or IGLD?

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

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

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

What is the main difference between IWMI and IGLD?

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

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.