ETF Comparison

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

A head-to-head comparison of Goldman Sachs Nasdaq-100 Core Premium Income ETF and JPMorgan Nasdaq Equity 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.

See our curated list of related YouTube videos on GPIQ.

See all Goldman Sachs ETFs

JPMorgan

ETFs74

Total AUM$282B

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

JPMorgan operates a diverse ETF lineup of 46 funds spanning bond, equity, factor, income, index, international, money market, municipal, and sector strategies, establishing itself as a broad-based player across multiple asset classes and investment approaches. The issuer is particularly known for its income-focused offerings, including popular tickers like JEPI (Equity Premium Income) and JEPQ (Equity Premium Income ETF), which employ covered call and options strategies to generate distributions. JPMorgan's portfolio ranges from core index and fixed income funds to specialized sector and international equity ETFs, positioning the firm to serve both income-seeking and growth-oriented investors across diversified markets.

See our curated list of related YouTube videos on JEPQ.

See all JPMorgan ETFs

Side-by-side snapshot

	GPIQ	JEPQ
Full name	Goldman Sachs Nasdaq-100 Core Premium Income ETF	JPMorgan Nasdaq Equity Premium Income ETF
Issuer	Goldman Sachs	JPMorgan
Last Close	$57.15 as of July 4, 2026	$59.39 as of July 4, 2026
Distribution yield	10.90%	12.86%
Distribution Safety Score	97	92
Expense ratio	0.29%	0.35%
AUM	$4.62B	$39.0B
Distribution frequency	Monthly	Monthly
Underlying index	NASDAQ 100	NASDAQ 100
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.	Covered Call
Asset class	Equity	Equity
Inception date	10/24/2023	05/03/2022
Beta	1.0964	0.77
Last dividend	$0.5191	$0.6366
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 JEPQ over the trailing twelve months, posting a 28.18% total return against 21.66%. Measured from Oct 2023 — when the younger fund began trading — GPIQ has compounded at 28.03% a year versus 23.15% for JEPQ. 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%
JEPQ	7.06%	21.66%	23.15%	13.6%	1.11	1.56	-8.8%

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 JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

JEPQ offers the higher yield at 12.86% vs 10.90% for GPIQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

GPIQ is cheaper with an expense ratio of 0.29% compared to 0.35%.

JEPQ is the larger fund by assets ($39.0B), 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 JEPQ would produce $107.17/month, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.90%

JEPQ yield12.86%

Monthly diff on $10K$16.33

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $350 for JEPQ (simplified, not compounded). The $60.00 difference may be offset by yield or performance.

GPIQ ER0.29%

JEPQ ER0.35%

Strategy & risk

Both GPIQ and JEPQ wrap NASDAQ 100 with options-based income overlays (nasdaq100 and covered call). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.0964 for GPIQ and 0.77 for JEPQ, indicating JEPQ is less volatile relative to the market.

GPIQ beta1.0964

JEPQ beta0.77

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $4.62B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $39.0B in assets.

GPIQ AUM$4.62B

JEPQ AUM$39.0B

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Frequently asked questions

Is GPIQ or JEPQ better for dividend income?

It depends on your goals. JEPQ 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 JEPQ?

Both GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) track NASDAQ 100 with options-based income strategies — the labels "nasdaq100" and "covered call" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (10.90% vs 12.86%), expense ratio (0.29% vs 0.35%), and issuer (Goldman Sachs vs JPMorgan).

Can I hold both GPIQ and JEPQ?

You can, but expect significant overlap. Both funds use options-based income strategies on NASDAQ 100, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Which has lower fees, GPIQ or JEPQ?

GPIQ has an expense ratio of 0.29% while JEPQ charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIQ would generate roughly $90.83 per month ($1,090.00 annually). The same in JEPQ would produce about $107.17 per month ($1,286.00 annually).

Which has performed better historically, GPIQ or JEPQ?

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GPIQ vs JEPQ — at a glance

Generated June 2026 from current fund data.

Overview

GPIQ and JEPQ are both equity ETFs that overlay covered-call strategies on the Nasdaq-100 index to generate monthly income. The funds hold similar underlying exposure but differ materially in how aggressively they sell call options, their fee structure, and the resulting income yield and downside beta they deliver to shareholders.

How they differ

JEPQ has been live nearly two years longer and has accumulated $39.0B in AUM versus GPIQ's $4.62B, giving it significantly deeper liquidity and a longer track record. The biggest income difference is modest: JEPQ yields 11.40% against GPIQ's 10.91%, but that gap reflects different call-selling intensity. GPIQ carries a slightly lower expense ratio at 0.29% compared to JEPQ's 0.35%, a 6-basis-point advantage that narrows the net yield spread. The most revealing distinction is beta: GPIQ posts a beta of 1.0964 while JEPQ reports 0.77, meaning GPIQ's call overlay is less aggressive and allows more upside capture when the Nasdaq-100 rallies, while JEPQ's tighter options collar dampens both gains and losses more substantially.

Who each is best for

GPIQ: Fits investors seeking a balanced blend of Nasdaq-100 upside participation and monthly income, willing to accept higher option drag in exchange for a lower expense ratio and closer-to-market beta exposure.

JEPQ: Designed for income-focused allocators who prioritize yield consistency and downside mitigation over capturing rallies, and who value the larger asset base and longer operating history for predictable option-selling patterns.

Key risks to know

NAV erosion risk. Both funds distribute over 10% annually, well above typical equity index returns. This distribution level is sustainable only through systematic option premium capture; if implied volatility collapses or realized volatility undershoots expectations, NAV will decline as the funds draw on capital to meet distribution promises.

Call overhang and capped upside. The covered-call overlay by design caps gains when the Nasdaq-100 rallies sharply. JEPQ's lower beta (0.77) signals tighter strike selection, meaning shareholders sacrifice more upside in bull markets—a material cost in a tech-heavy index with asymmetric momentum phases.

Volatility-dependent income. Both funds' income streams depend on implied volatility levels at the time options are sold. A sustained drop in vol—common in low-rate or risk-on environments—forces the ETF to sell shorter-dated or lower-strike calls, reducing premium collected and compressing distributions.

Concentration in Nasdaq-100 tech exposure. Both hold 80%+ in the same index, which is heavily weighted to mega-cap software, semiconductors, and cloud services. Sector-specific downturns or valuation resets hit these funds harder than broad equity ETFs.

Bottom line

If you want closer-to-market beta with a marginally lower fee, GPIQ captures more Nasdaq-100 upside at the cost of slightly lower yield; if you prioritize income stability and downside dampening and value a proven fund with $39B in AUM, JEPQ's tighter call overlay and longer history may justify the extra basis points. Both face NAV pressure if volatility or index returns fall short of their distribution levels—past performance does not predict future results, and neither fund's current yield should be assumed permanent.

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