NLSI vs. IAUI

Last updated Jun 4, 2026

NLSI (Neos Long/Short Equity Income ETF) and IAUI (NEOS Gold High Income ETF) are both exchange-traded funds - NLSI is a Long-Short fund actively managed by Neos, while IAUI is a Derivative Income fund actively managed by Neos. Both are actively managed. At a correlation of -0.18, they often move in opposite directions. NLSI charges 2.89%/yr vs 0.78%/yr for IAUI.

Performance

NLSI vs. IAUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Long/Short Equity Income ETF (NLSI) and NEOS Gold High Income ETF (IAUI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NLSI achieves a 7.01% return, which is significantly higher than IAUI's 2.26% return.

NLSI

• 1D: -0.92%
• 1M: 10.92%
• YTD: 7.01%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAUI

• 1D: 0.61%
• 1M: -1.21%
• YTD: 2.26%
• 6M: 4.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLSI vs. IAUI - Yearly Performance Comparison

	2026 (YTD)	2025
NLSI Neos Long/Short Equity Income ETF	7.01%	1.90%
IAUI NEOS Gold High Income ETF	2.26%	1.75%

Correlation

The correlation between NLSI and IAUI is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.18

Return for Risk

NLSI vs. IAUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Long/Short Equity Income ETF (NLSI) and NEOS Gold High Income ETF (IAUI). 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

	NLSI	IAUI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.16	-0.12

Drawdowns

NLSI vs. IAUI - Drawdown Comparison

The maximum NLSI drawdown since its inception was -13.82%, smaller than the maximum IAUI drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for NLSI and IAUI.

Drawdown Indicators

	NLSI	IAUI	Difference
Max Drawdown Largest peak-to-trough decline	-13.82%	-16.88%	+3.06%
Current Drawdown Current decline from peak	-1.33%	-13.27%	+11.94%
Average Drawdown Average peak-to-trough decline	-6.10%	-3.49%	-2.61%

Volatility

Volatility by Period

	NLSI	IAUI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	20.28%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	20.28%	-0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.37%	20.28%	-0.91%

NLSI vs. IAUI - Expense Ratio Comparison

NLSI has a 2.89% expense ratio, which is higher than IAUI's 0.78% expense ratio.

Dividends

NLSI vs. IAUI - Dividend Comparison

NLSI's dividend yield for the trailing twelve months is around 2.42%, less than IAUI's 12.58% yield.

Position	TTM	2025
IAUI NEOS Gold High Income ETF	12.58%	6.88%
NLSI Neos Long/Short Equity Income ETF	2.42%	0.46%

Frequently Asked Questions

Can I hold both NLSI and IAUI in my portfolio?

NLSI and IAUI have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NLSI or IAUI?

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, NLSI or IAUI?

IAUI is cheaper with a 0.78% expense ratio, compared with 2.89% for NLSI.

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

IAUI has the higher dividend yield at 12.58%, compared with 2.42% for NLSI.

What is the main difference between NLSI and IAUI?

NLSI is categorized as Long-Short, while IAUI is Derivative Income. Their fees differ too: 2.89% for NLSI and 0.78% for IAUI.