ETF Comparison

GPIQ vs GPIX: Which Is the Better Pick in 2026?

A head-to-head comparison of Goldman Sachs Nasdaq-100 Core Premium Income ETF and Goldman Sachs S&P 500 Core Premium Income ETF covering yield, cost, risk, and income potential.

Data updated July 4, 2026

Goldman Sachs

ETFs48

Total AUM$64.8B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Goldman Sachs operates a 15-fund ETF lineup spanning diverse asset classes including bonds, commodities, factor-based strategies, income-focused funds, and international equities. The issuer is known for its specialized offerings in income generation and factor investing, with popular tickers including GSIE (a U.S. equity income fund) and GBIL (a short-duration bond fund). Their fund families emphasize both traditional index-based approaches and actively managed strategies across fixed income, commodities, and international markets.

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Side-by-side snapshot

	GPIQ	GPIX
Full name	Goldman Sachs Nasdaq-100 Core Premium Income ETF	Goldman Sachs S&P 500 Core Premium Income ETF
Issuer	Goldman Sachs	Goldman Sachs
Last Close	$57.15 as of July 4, 2026	$55.04 as of July 4, 2026
Distribution yield	10.90%	8.58%
Distribution Safety Score	97	98
Expense ratio	0.29%	0.29%
AUM	$4.62B	$4.40B
Distribution frequency	Monthly	Monthly
Underlying index	NASDAQ 100	SPX
Objective	Seeks current income while maintaining prospects for capital appreciation by investing at least 80% of net assets in companies included in the Nasdaq-100 and selling call options with exposure to the benchmark.	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	10/24/2023	10/24/2023
Beta	1.0964	0.8543
Last dividend	$0.5191	$0.3937
Ex-dividend date	07/01/2026	07/01/2026

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

GPIQ has outpaced GPIX over the trailing twelve months, posting a 28.18% total return against 19.46%. Measured from Oct 2023 — when the younger fund began trading — GPIQ has compounded at 28.03% a year versus 22.79% for GPIX. GPIX has been the steadier holding, though — annualized volatility of 10.9% against 15.7% for GPIQ. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	Since Oct 2023	Volatility	Sharpe	Sortino	Max drawdown
GPIQ	14.15%	28.18%	28.03%	15.7%	1.30	1.84	-9.5%
GPIX	7.79%	19.46%	22.79%	10.9%	1.22	1.75	-7.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2023” measures every fund from October 26, 2023 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. 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 past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

GPIQ offers the higher yield at 10.90% vs 8.58% for GPIX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They track different benchmarks: GPIQ is linked to NASDAQ 100 while GPIX tracks SPX, which means their performance drivers differ.

GPIQ is the larger fund by assets ($4.62B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, GPIQ would generate roughly $90.83/month, while GPIX would produce $71.50/month, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.90%

GPIX yield8.58%

Monthly diff on $10K$19.33

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $290 for GPIX (simplified, not compounded). Both charge the same expense ratio.

GPIQ ER0.29%

GPIX ER0.29%

Strategy & risk

GPIQ tracks NASDAQ 100 with a nasdaq100 approach, while GPIX tracks SPX with a s&p500 approach. Beta is 1.0964 for GPIQ and 0.8543 for GPIX, indicating GPIX is less volatile relative to the market.

GPIQ beta1.0964

GPIX beta0.8543

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $4.62B in assets. GPIX is managed by Goldman Sachs (launched 10/24/2023) with $4.40B in assets.

GPIQ AUM$4.62B

GPIX AUM$4.40B

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Frequently asked questions

Is GPIQ or GPIX better for dividend income?

It depends on your goals. GPIQ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between GPIQ and GPIX?

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) tracks NASDAQ 100 with a nasdaq100 approach, while GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) tracks SPX with a s&p500 approach. They are issued by Goldman Sachs and Goldman Sachs respectively.

Can I hold both GPIQ and GPIX?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, GPIQ or GPIX?

GPIQ and GPIX both charge the same expense ratio of 0.29%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in GPIQ vs GPIX generate?

At current rates, $10,000 in GPIQ would generate roughly $90.83 per month ($1,090.00 annually). The same in GPIX would produce about $71.50 per month ($858.00 annually).

Which has performed better historically, GPIQ or GPIX?

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GPIQ vs GPIX — at a glance

Generated July 2026 from current fund data.

Overview

GPIQ and GPIX are both Goldman Sachs equity income ETFs launched on the same day using covered-call strategies to generate monthly distributions. GPIQ holds Nasdaq-100 stocks and sells calls against that index; GPIX holds S&P 500 stocks and sells calls against the broader index. The funds are structurally identical but differ fundamentally in their underlying equity exposure and the yield they can sustain.

How they differ

The core difference is index composition: GPIQ targets the Nasdaq-100 (100 large-cap tech-heavy stocks), while GPIX targets the S&P 500 (500 broad-market large-cap stocks). This drives their yield gap—GPIQ distributes 10.90% annually versus GPIX's 8.58%—because the Nasdaq-100's higher volatility and growth orientation support more aggressive call-selling. GPIQ carries a beta of 1.0964 compared to GPIX's 0.8543, reflecting that tech concentration. Both charge 0.29% in expenses and maintain similar AUM (~$4.4–4.6B), so the yield and volatility profiles are the real distinguisher.

Who each is best for

GPIQ: Fits investors comfortable with concentrated tech/growth exposure who want monthly income and are willing to accept higher volatility and call-writing cap risk in exchange for a double-digit yield.

GPIX: Fits investors seeking broader equity diversification with monthly distributions at a more moderate yield level and lower beta, accepting less income in exchange for reduced concentration and downside swings.

Key risks to know

Call-cap risk: Both funds cap upside by selling call options. In a strong market for Nasdaq-100 or S&P 500 stocks, each ETF will underperform its underlying index. GPIQ's higher yield suggests tighter call strikes, amplifying this tradeoff.

NAV erosion at sustained high yields: GPIQ's 10.90% distribution rate significantly exceeds typical S&P 500 or Nasdaq-100 total returns. If equity prices stagnate or decline, the fund will likely rely on return of capital, gradually eroding net asset value over time.

Tech/growth concentration risk (GPIQ): Heavy exposure to Nasdaq-100 constituents magnifies sensitivity to interest-rate and sentiment shifts that disproportionately affect growth stocks, especially if call strikes are breached and positions are capped.

Call-strike management risk: Both funds adjust call strikes and expiration dates dynamically. Strikes set too low will suppress gains; strikes set too high will expose the fund to unhedged downside. This operational discretion introduces execution risk around premium capture and rollover timing.

Recency of inception: Both funds launched in late October 2023. Their yield-generation track record spans fewer than 18 months of market data, limiting visibility into how they perform in meaningful drawdowns or regime shifts.

Bottom line

If you want the highest current income and can tolerate tech concentration and upside caps, GPIQ's 10.90% yield stands out; if you prefer broader diversification with lower volatility at the cost of 2.3 percentage points of annual yield, GPIX offers that tradeoff. Both carry the structural risk that their distributions outpace likely long-term equity returns, and past performance since inception does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.