DIVO
Safe
High confidence
ETF Comparison
DIVO vs GPIX: Dividend-Stock Calls, or an S&P 500 Overwrite?
A head-to-head of Amplify CWP Enhanced Dividend Income and Goldman Sachs S&P 500 Core Premium Income covering book and overlay.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- DIVOInvestors who want selected dividend stocks with tactical calls and accept manager risk.
- GPIXInvestors who want S&P 500 exposure with a dynamic overwrite and accept the upside tradeoff.
Price and total return
Compare the same available dates. Add a ticker or benchmark below; these controls change the chart only. The snapshot and article describe the original comparison.
Interactive history loads here. The snapshot and period returns remain available when chart history cannot be loaded.
Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
GPIX
Safe
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  DIVO |  GPIX |
|---|---|---|
| Full name | Amplify CWP Enhanced Dividend Income ETF | Goldman Sachs S&P 500 Premium Income ETF |
| Issuer | Amplify ETFs | Goldman Sachs |
| Last Close | $46.61 as of November 6, 2026 | $53.36 as of November 6, 2026 |
| Distribution rate | 4.93% | 8.74% |
| Trailing 12-month yield | 6.49% | 8.62% |
| Distribution Safety Score™ | 93 | 84 |
| Safety-Adjusted Yield | 4.58% | 7.34% |
| Expense ratio | 0.56% | 0.29% |
| AUM | $7.98B | $6.40B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | Actively managed (no tracked index recorded) | S&P 500 |
| Objective | Actively managed fund that seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying U.S. exchange-traded equity securities while opportunistically utilizing covered call options on those securities. | Seeks current income while maintaining prospects for capital appreciation by investing at least 80% of net assets in companies included in the S&P 500 and selling call options with exposure to the benchmark. |
| Asset class | Equity | Equity |
| Inception date | 12/14/2016 | 10/24/2023 |
| Beta | 0.53 | 0.81 |
| Last dividend | $0.19132 | $0.38852 payable 11/06/2026 |
| Ex-dividend date | 10/29/2026 | 11/02/2026 |
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
DIVO has outpaced GPIX over the trailing twelve months, posting a 11.46% total return against 10.53%. The picture flips over 3 years, though — GPIX has compounded at 18.53% a year, ahead of DIVO at 16.29%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | Since Oct 2023 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|
| DIVO | 9.34% | 11.46% | 16.29% | 17.13% | 10.9% | 1.02 | 1.49 | -12.1% |
| GPIX | 8.94% | 10.53% | 18.53% | 20.29% | 13.6% | 0.96 | 1.36 | -17.5% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 2023” measures every fund from October 26, 2023 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineChoose DIVO if you want selected dividend stocks with tactical calls and accept manager risk. Choose GPIX if you want S&P 500 exposure with a dynamic overwrite and accept the upside tradeoff. Distributions can change and may include return of capital. A payout rate is not total return, and tax character alone does not establish economic loss.
Selected stock calls versus a dynamic index overwrite
DIVO selects dividend-paying equities and writes tactical calls on individual stocks. GPIX combines S&P 500 equity exposure with a dynamic call overwrite. Compare the stock portfolio and the amount overwritten together.
| DIVO | GPIX | |
|---|---|---|
| Approach | Selected dividend equities with tactical individual-stock calls | S&P 500 equity exposure with dynamic call writing |
| Risk review | Stock selection, concentration, and call-writing risk | Equity concentration and call-writing risk |
| Expense ratio | 0.56% | 0.29% |
| Portfolio fit | Review combined holdings and weights | Review combined holdings and weights |
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
- Capped upside and premium dependence. GPIX generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Learn the mechanics: Return of capital, explained · NAV erosion, explained
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs47
Total AUM$16.5B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.
See our curated list of related YouTube videos on DIVO.
ETFs48
Total AUM$69.2B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Goldman Sachs Asset Management is known for offering a comprehensive suite of ETFs spanning traditional and alternative investment strategies across multiple asset classes. The fund lineup encompasses income-focused offerings, factor-based strategies, thematic investments, ESG solutions, international exposure, commodities, bonds, and indexed products, reflecting a broad approach to meeting diverse investor needs. The issuer's portfolio demonstrates significant breadth, with funds serving income investors, factor-based strategists, and those seeking specialized exposure to emerging themes and alternative assets.
See our curated list of related YouTube videos on GPIX.
Quick verdict
DIVO (Amplify CWP Enhanced Dividend Income ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
GPIX offers the higher yield at 8.74% vs 4.93% for DIVO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
GPIX is cheaper with an expense ratio of 0.29% compared to 0.56%.
DIVO is the larger fund by assets ($7.98B), but assets alone do not establish trading costs or liquidity.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
2 shared positions
DIVO 11.0% of its top-10 weight
GPIX 13.7% of its top-10 weight
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, DIVO would pay about $493.00 a year (about $41.08 per monthly distribution), while GPIX would pay about $874.00 a year (about $72.83 per monthly distribution). Both pay monthly distributions.
DIVO yield4.93%
GPIX yield8.74%
Annual cash diff on $10K$381.00
Cost & efficiency
Over 10 years on $10,000, DIVO would cost approximately $560 in fees vs $290 for GPIX (simplified, not compounded). The $270.00 difference may be offset by yield or performance.
DIVO ER0.56%
GPIX ER0.29%
Strategy & risk
DIVO selects dividend-paying equities and writes tactical calls on individual stocks. GPIX combines S&P 500 equity exposure with a dynamic call overwrite. Compare the stock portfolio and the amount overwritten together. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
DIVO beta0.53
GPIX beta0.81
Fund details
DIVO is managed by Amplify ETFs (launched 12/14/2016) with $7.98B in assets. GPIX is managed by Goldman Sachs (launched 10/24/2023) with $6.40B in assets.
DIVO AUM$7.98B
GPIX AUM$6.40B
Frequently asked questions
Does a higher distribution prove GPIX writes tighter calls than DIVO?
No. Distribution rates alone do not reveal strike selection or the percentage overwritten. DIVO writes tactical calls on individual equities; GPIX dynamically manages its overwrite. Inspect current disclosures rather than inferring option positions, downside protection, or NAV erosion from yield.
What is the difference between DIVO and GPIX?
DIVO (Amplify CWP Enhanced Dividend Income ETF) writes calls on dividend stocks. GPIX (Goldman Sachs S&P 500 Premium Income ETF) writes calls on S&P 500-oriented equities. Pick the equity book first, then the overwrite. Cost is 0.56% versus 0.29%; size is $7.98B versus $6.40B. Distributions are 4.93% and 8.74% as of November 2026. Book plus overlay, not a yield rank, is the split.
More comparisons to explore
People also compare DIVO with
People also compare GPIX with
Popular comparisons
Dividend dates and history
Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.