GOLY ETF's leveraged gold income strategy falters in 2026, losing value despite gold gains.

The Strategy Shares Gold Enhanced Yield ETF (GOLY), which aimed to provide gold exposure and monthly income through bonds and gold swaps, has significantly underperformed in 2026. Despite modest gains in gold prices, GOLY lost over 20% year-to-date due to rising financing costs and leverage, with its monthly distributions also declining. This contrasts with simpler gold ETFs like GLD, suggesting that the complex, leveraged strategy for a non-yielding asset like gold has proven costly and risky for investors.