Understanding the Nicholas Gold Income ETF (GLDN)

The Nicholas Gold Income ETF (GLDN) is designed to provide investors with income tied to gold. Its most notable characteristic is a very frequent distribution schedule and a distribution yield of approximately 9.98%.

What this ETF is trying to do

GLDN seeks to generate income for its shareholders. Based on its holdings, the fund invests in gold-related assets. This includes a mix of gold mining companies and gold-tracking funds.

What the numbers show

As of October 12, 2026, the share price of GLDN was $15.48.

It is important to note that there is currently no verified price history available for this fund. Because of this, the following data was not supplied:

• Year-to-date (YTD) price or total returns

• One-year price or total returns

• Three-year price or total returns

Income and Distribution Explanation

GLDN is designed for investors who want frequent cash payments. Over the last 12 months, the fund made 32 distributions. These payments happen on a "weekly-like" basis, with the majority of payments occurring on Mondays.

The distribution yield is 9.98%, and the trailing distributions totaled $1.54 per share. For new investors, it is important to remember that a high distribution yield alone can be misleading. It tells you how much cash was paid out relative to the price, but it does not guarantee that the investment is growing or that the principal is safe.

NAV Erosion Explanation

"NAV erosion" happens when the net asset value (the actual value of the fund's underlying assets) declines over time.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. Additionally, the erosion score is currently withheld due to insufficient verified price history. However, the severe erosion-risk flag is currently false.

Top Holdings

The fund's portfolio is diversified across several gold-related assets. As of October 11, 2026, the top holdings (which are a partial list) include:

• Other Assets and Liabilities: 30.44%

• SPDR Gold MiniShares (GLDM): 29.79%

• SSR Mining Inc: 4.57%

• Equinox Gold Corp: 4.42%

• AngloGold Ashanti PLC (AU): 3.37%

Holdings can change over time as the fund manager adjusts the portfolio.

Pros

• Frequent Income: Pays distributions very often (weekly-like).

• Gold Exposure: Provides a way to invest in gold miners and gold assets in one fund.

Cons

• Lack of History: There is no supplied data for short-term or long-term price and total returns.

• Income Grade: The fund has an income rating grade of "F."

Beginner Takeaway

GLDN is a gold-focused ETF that pays out cash very frequently. While the nearly 10% distribution yield is high, there is very little historical performance data available to show how the share price has behaved over time. Investors typically look for stability in the principal (the original amount invested) when seeking income, but the available data is not yet enough to determine the fund's long-term price trend.