SGOL vs. IAUI

Last updated Jun 26, 2026

SGOL (abrdn Physical Gold Shares ETF) and IAUI (NEOS Gold High Income ETF) are both exchange-traded funds - SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while IAUI is a Derivative Income fund actively managed by Neos. SGOL is passively managed, while IAUI is actively managed. Over the past year, SGOL returned 20.57% vs 11.14% for IAUI. With a 0.97 correlation, they move nearly in lockstep. SGOL charges 0.17%/yr vs 0.78%/yr for IAUI.

Performance

SGOL vs. IAUI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Gold Shares ETF (SGOL) 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, SGOL achieves a -6.67% return, which is significantly higher than IAUI's -7.74% return.

SGOL

• 1D: 1.00%
• 1M: -10.69%
• YTD: -6.67%
• 6M: -10.17%
• 1Y: 20.57%
• 3Y*: 27.73%
• 5Y*: 17.55%
• 10Y*: 11.49%

IAUI

• 1D: 0.96%
• 1M: -10.18%
• YTD: -7.74%
• 6M: -9.97%
• 1Y: 11.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOL vs. IAUI - Yearly Performance Comparison

	2026 (YTD)	2025
SGOL abrdn Physical Gold Shares ETF	-6.67%	27.66%
IAUI NEOS Gold High Income ETF	-7.74%	20.00%

Correlation

The correlation between SGOL and IAUI is 0.97 - 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 (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.97

The correlation between SGOL and IAUI has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

SGOL vs. IAUI — Risk / Return Rank

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

SGOL

SGOL Risk / Return Rank: 22
SGOL Sharpe Ratio Rank: 23
SGOL Sortino Ratio Rank: 21
SGOL Omega Ratio Rank: 25
SGOL Calmar Ratio Rank: 20
SGOL Martin Ratio Rank: 21

IAUI

IAUI Risk / Return Rank: 16
IAUI Sharpe Ratio Rank: 17
IAUI Sortino Ratio Rank: 16
IAUI Omega Ratio Rank: 18
IAUI Calmar Ratio Rank: 15
IAUI Martin Ratio Rank: 16

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.

SGOL vs. IAUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) 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.

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.

	SGOL	IAUI	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.52	+0.24
Sortino ratio: Return per unit of downside risk	1.10	0.81	+0.29
Omega ratio: Gain probability vs. loss probability	1.16	1.12	+0.04
Calmar ratio: Return relative to maximum drawdown	0.79	0.50	+0.29
Martin ratio: Return relative to average drawdown	2.21	1.56	+0.64

SGOL vs. IAUI - Sharpe Ratio Comparison

The current SGOL Sharpe Ratio is 0.75, which is higher than the IAUI Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of SGOL and IAUI, 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

SGOL vs. IAUI - Drawdown Comparison

The maximum SGOL drawdown since its inception was -45.51%, which is greater than IAUI's maximum drawdown of -22.50%. Use the drawdown chart below to compare losses from any high point for SGOL and IAUI.

Drawdown Indicators

	SGOL	IAUI	Difference
Max Drawdown Largest peak-to-trough decline	-45.51%	-22.50%	-23.01%
Max Drawdown (1Y) Largest decline over 1 year	-26.16%	-22.50%	-3.66%
Max Drawdown (3Y) Largest decline over 3 years	-26.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.16%	—	—
Current Drawdown Current decline from peak	-25.42%	-21.76%	-3.66%
Average Drawdown Average peak-to-trough decline	-18.42%	-4.26%	-14.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.34%	7.14%	+2.20%

Volatility

SGOL vs. IAUI - Volatility Comparison

abrdn Physical Gold Shares ETF (SGOL) and NEOS Gold High Income ETF (IAUI) have volatilities of 8.65% and 8.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOL	IAUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	8.37%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	24.24%	20.02%	+4.22%
Volatility (1Y) Calculated over the trailing 1-year period	27.43%	21.63%	+5.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.18%	21.23%	-3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	21.23%	-5.20%

SGOL vs. IAUI - Expense Ratio Comparison

SGOL has a 0.17% expense ratio, which is lower than IAUI's 0.78% expense ratio.

Dividends

SGOL vs. IAUI - Dividend Comparison

SGOL has not paid dividends to shareholders, while IAUI's dividend yield for the trailing twelve months is around 14.06%.

Position	TTM	2025
IAUI NEOS Gold High Income ETF	14.06%	6.88%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGOL and IAUI in my portfolio?

With a correlation of 0.97, SGOL and IAUI 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 is riskier, SGOL or IAUI?

SGOL has higher volatility (8.65%) compared to IAUI (8.37%). In terms of maximum drawdown, SGOL dropped -45.51% vs IAUI's -22.50%.

Which ETF is better, SGOL or IAUI?

On 1-year performance, SGOL leads with 20.57% vs 11.14% for IAUI. On fees, SGOL is cheaper at 0.17% per year. On volatility, IAUI has been the lower-risk option at 8.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGOL or IAUI?

Over the 1-year period, SGOL has performed better with a 20.57% return vs 11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGOL or IAUI?

SGOL is cheaper with a 0.17% expense ratio, compared with 0.78% for IAUI.

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

IAUI has the higher dividend yield at 14.06%, compared with 0.00% for SGOL.

What is the main difference between SGOL and IAUI?

SGOL is categorized as Gold, while IAUI is Derivative Income. They also come from different issuers: abrdn and Neos. Their fees differ too: 0.17% for SGOL and 0.78% for IAUI.

Which has better risk-adjusted returns?

SGOL currently has the higher Sharpe Ratio (0.75 vs 0.52), 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.