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IAUINEOS Gold High Income ETF

Get income1y track recordRanked #882 of 1,622 in this goal

Seeks to generate high monthly income with potential appreciation from gold exposure.

By Neos Funds · Launched 2025

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$472M

#1,606 of 5,562 · large

Dividend YieldGoal

—

Track Record

1 year

#4,432 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$11,632+16.3%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 8 holdings = 100.1% of fundconcentrated

United States Treasury Bill
67.9%
Goldman Sachs Physical Gold ET
24.1%
N/A
8.2%
First American Treasury Obliga
0.8%
Northern US Government Select
0.0%
N/A
-0.1%
N/A
-0.3%
N/A
-0.5%

Asset allocation

Cash
61.3%
Other
38.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
21.3%High

Year-on-year price swings

Max drawdown
-20.4%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to generate high monthly income with potential appreciation from gold exposure.
Strategy
Actively managed fund investing primarily in Gold ETPs and options on Gold ETPs. Utilizes a synthetic options strategy for gold exposure and a covered call strategy to generate income.
Inception date
June 4, 2025
Fund family
Neos Funds

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19