IAUI: Why Long-Term Gold Bulls Should Consider This 12% Yielder

NEOS Gold High Income ETF offers a near 12% yield, appealing to income-focused investors seeking diversification and non-correlation to equities. IAUI employs a synthetic covered call strategy on gold ETPs, monetizing gold exposure while holding U.S. treasuries for fixed income. Recent gold price declines have pressured IAUI's NAV and distributions, with NAV down ~8% YTD and distributions falling 16% since January. IAUI may outperform if gold remains flat, but capped upside and NAV erosion risk negative returns if gold declines further; the long-term outlook remains constructive.