BATS · Active · options-income

NEOS Gold High Income ETF

NEOS Investment Management, LLC

Weighted score · 3.90 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 84% ROC

Expense Ratio

0.79% gross

1Y Return

vs underlying

Sharpe

Max DD -20.4%

The NEOS Gold High Income ETF (the "Fund") seeks to generate high monthly income with the potential for appreciation based on exposure to exchange-traded products ("ETPs") that have direct exposure to gold..

The Fund is an actively managed ETF that combines three elements: (i) investing up to 25% of assets in Gold ETPs (primarily through a Cayman Islands subsidiary), (ii) gaining synthetic gold exposure via purchasing call options and selling put options on Gold ETPs with notional value up to 75% of net assets, and (iii) generating high monthly income by writing (selling) call options on Gold ETPs with notional value between 50%-100% of net assets. The Fund also earns income from U.S. Treasury securities held as collateral. The Adviser uses a proprietary, rules-based, systematic model to manage options positions.

The Fund uses a synthetic options strategy (buying calls and selling puts at the same strike/expiration) to replicate gold ETP price exposure with notional value up to 75% of net assets, while simultaneously writing call options on Gold ETPs with notional value between 50%-100% of net assets to generate monthly income. The Fund primarily uses FLEX Options and may also employ bear call spreads when the Adviser expects flat or declining gold prices. Written calls typically expire in approximately one month and are rolled near expiration.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

Composition · Recent Distribution

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

The June 2026 distribution of $0.5129 per share for the NEOS Gold High Income ETF (IAUI) is estimated to be 84% return of capital ($0.4318) and 16% net investment income ($0.0811). On a fiscal year-to-date cumulative basis, 86% of distributions have been classified as return of capital and 14% as net investment income.

Return of capital ($/sh)

Net investment income ($/sh)

Monthly ROC %

Calendar-year ROC (YTD est.)

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $50.90 is below the 200-day SMA ($53.33); 50-day SMA $54.40. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.22% (moderate). Average daily dollar volume ~$11.7M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)