
Gold’s sparkling ride in 2025 has caught even veteran investors off guard, with gold stocks and bullion making a sharp leap as worries over inflation meet fiscal disarray in Washington. Among the funds at the forefront of the rally is the Strategy Shares Gold Enhanced Yield ETF (NYSE:GOLY), which is up 36% for the year and boasts a five-star Morningstar rating.
David Miller, GOLY portfolio manager and co-founder and CIO at Catalyst Funds, contends that the rally is more than a classic “fear trade.” Rather, he identifies structural currency debasement as the motive.