A Strange Corner of ETFs Just Delivered Jaw Dropping Returns

To support research for our ETF Income Edge newsletter service, I maintain a database of all options strategy ETFs—at least the ones I become aware of. I currently track more than 110 ETFs; however, I do not include single-stock covered call ETFs in my research.

During the first week of January, I pulled up the full-year total returns for the 80 ETFs that had launched by or before January 2025. The top four performers, plus number nine, were option strategy ETFs/ETNs with gold or silver as the underlying assets. Here are the five funds with their 2025 total returns and current distribution yields:

• Simplify Gold Strategy PLUS Income ETF (YGLD)
Total return: 100.40%. Current yield: 13.39%

• YieldMax Gold Miners Option Income Strategy ETF (GDXY)
Total return: 83.87%. Current yield: 51.24%

• ETRACS Silver Shares Covered Call ETNs (SLV)
Total return: 67.80%. Current yield: 27.82%.

• FT Vest Gold Strategy Target Income ETF (IGLD)
Total return: 47.60%. Current yield: 9.50%.

• ETRACS Gold Shares Covered Call ETNs (GLDI)
Total return: 33.72%. Current yield: 18.63%.

While option-strategy ETFs can lag in a strongly positive market, their returns were excellent compared to other asset categories.

I have YGLD, GDXY, and SLVO in my recommended portfolios. I have also added a couple of newer gold- and silver-covered call ETFs to my recommended portfolios. You might guess that I expect precious metals to continue to appreciate in value. At the same time, the covered call ETFs pay regular cash dividends.

I’ll close with something I tell subscribers (and the marketing department): We don’t try to pick hot sectors. Precious metals were strong in 2025, and I expect more gains this year, but these ETFs are just part of a portfolio that covers multiple asset classes. Stay diversified!