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ETF Comparison

GPIQ vs QQQ: Monthly Income or the Full Nasdaq-100?

A head-to-head of Goldman's Nasdaq-100 Core Premium Income ETF and the Invesco QQQ Trust covering the overlay, cost, and the upside you keep.

Data updated September 22, 2026

Best for

  • GPIQInvestors who want to maximize current income — roughly 10.22%, generated by selling options premium.
  • QQQInvestors who want a growth tilt and can accept bigger swings for higher upside.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

GPIQ has lagged QQQ over the trailing twelve months, posting a 23.46% total return against 24.71%. Measured from Oct 2023 — the start of shared available history — QQQ has compounded at 31.40% a year versus 27.66% for GPIQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1YSince Oct 2023Volatility Sharpe Sortino Max drawdown
GPIQ19.64%23.46%27.66%17.1%0.971.41-9.5%
QQQ22.33%24.71%31.40%19.9%0.891.28-12.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 22, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “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 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGPIQQQQ
Full nameGoldman Sachs Nasdaq-100 Premium Income ETFInvesco QQQ Trust
IssuerGoldman SachsInvesco
Last Close$58.34 as of September 22, 2026$747.46 as of September 22, 2026
Distribution rate10.22%0.40%
Distribution Safety Score™ 8497
Safety-Adjusted Yield 8.58%0.39%
Expense ratio0.29%0.18%
AUM$5.84B$496B
Distribution frequencyMonthlyQuarterly
Underlying indexNasdaq-100Nasdaq-100 Index
ObjectiveSeeks 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.Track the Nasdaq-100 Index, which includes 100 of the largest non-financial Nasdaq stocks.
Asset classEquityEquity
Inception date10/24/202303/10/1999
Beta1.09641.26
Last dividend$0.4968$0.7514 declared, pays 10/08/2026
Ex-dividend date09/01/202609/21/2026

Bottom lineChoose GPIQ if you want to maximize current income — roughly 10.22%, generated by selling options premium. Choose QQQ if you want a growth tilt and can accept bigger swings for higher upside. There's no free lunch: GPIQ's payout comes from selling options, which caps upside and can erode the share price over time, while QQQ keeps full price exposure.

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. GPIQ 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

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Goldman Sachs
ETFs48
Total AUM$68.1B

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 GPIQ.

See all Goldman Sachs ETFs
Invesco
ETFs246
Total AUM$1009B

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

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on QQQ.

See all Invesco ETFs

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Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) and QQQ (Invesco QQQ Trust) are both dividend ETFs, but they take different approaches.

GPIQ offers the higher yield at 10.22% vs 0.40% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QQQ is cheaper with an expense ratio of 0.18% compared to 0.29%.

They have different reference exposures: GPIQ is linked to Nasdaq-100 while QQQ is linked to Nasdaq-100 Index, which means their performance drivers differ.

QQQ is the larger fund by assets ($496B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose GPIQ

Goldman Sachs Nasdaq-100 Premium Income ETF

  • Want to maximize current income — GPIQ distributes roughly 10.22% from selling options premium, vs 0.40% for QQQ.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Prefer lower volatility — a beta of 1.1 vs 1.3 for QQQ.

Choose QQQ

Invesco QQQ Trust

  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.18% expense ratio vs 0.29% for GPIQ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, GPIQ would generate roughly $85.17 cash per distribution, while QQQ would produce $10.00 cash per distribution, at current distribution rates.

GPIQ yield10.22%
QQQ yield0.40%
Cash diff on $10K$75.17

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $180 for QQQ (simplified, not compounded). The $110.00 difference may be offset by yield or performance.

GPIQ ER0.29%
QQQ ER0.18%

Strategy & risk

GPIQ tracks Nasdaq-100 with an active approach, while QQQ tracks Nasdaq-100 Index with a growth approach. Beta is 1.0964 for GPIQ and 1.26 for QQQ, making GPIQ the less volatile of the two by this measure.

GPIQ beta1.0964
QQQ beta1.26

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $5.84B in assets. QQQ is managed by Invesco (launched 03/10/1999) with $496B in assets.

GPIQ AUM$5.84B
QQQ AUM$496B
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Frequently asked questions

What is the difference between GPIQ and QQQ?

QQQ (Invesco QQQ Trust) tracks Nasdaq-100 Index and keeps the whole move, paying 0.40%. GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) holds Nasdaq-100 exposure and sells calls for monthly cash — 10.22%, paid monthly. That overlay is why GPIQ costs 0.29% against 0.18% and why it lags in a sharp Nasdaq rally. Beta is 1.0964 versus 1.26. Figures as of September 2026.

What is the current distribution rate for GPIQ and QQQ?

GPIQ currently distributes 10.22% and QQQ 0.40%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is GPIQ or QQQ 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.

Can I hold both GPIQ and QQQ?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is GPIQ or QQQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QQQ scores 97, GPIQ scores 84, so QQQ's payout currently looks the more resilient of the two. GPIQ has also shown lower price volatility (beta 1.10 vs 1.26 for QQQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, GPIQ or QQQ?

GPIQ has an expense ratio of 0.29% while QQQ charges 0.18%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIQ would generate roughly $85.17 cash per distribution ($1,022.00 annually). The same in QQQ would produce about $10.00 cash per distribution ($40.00 annually).

Which has performed better historically, GPIQ or QQQ?

GPIQ has lagged QQQ over the trailing twelve months, posting a 23.46% total return against 24.71%. Measured from Oct 2023 — the start of shared available history — QQQ has compounded at 31.40% a year versus 27.66% for GPIQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIQ vs QQQ — at a glance

Generated September 19, 2026.

Overview

GPIQ and QQQ both track the Nasdaq-100—100 of the largest non-financial tech and growth stocks—but follow fundamentally different strategies. QQQ is a straightforward index ETF that aims for capital appreciation and holds the underlying stocks directly. GPIQ, launched in late 2023, overlays a covered-call options strategy on the same index to generate monthly income, capping upside in exchange for 10.22% in annual distributions. This makes GPIQ income-focused and QQQ growth-focused—they're designed for different investor objectives from the same underlying basket.

GPIQ's 0.29% expense ratio is slightly higher than QQQ's 0.18%, reflecting the active management and options overlay costs. QQQ's $496B in assets dwarfs GPIQ's $5.84B, reflecting QQQ's 27 years versus GPIQ's 2 years—QQQ is the category standard. Both funds report similar beta around 1.0–1.3, but GPIQ's call-selling will mechanically reduce upside capture in strong rallies while limiting downside participation when the index falls.

Who each is best for

GPIQ: Fits investors seeking monthly income from large-cap tech exposure who accept capped capital appreciation and are comfortable with the NAV volatility inherent in options-based strategies.

QQQ: Fits investors who want long-term growth exposure to the Nasdaq-100 with minimal overhead, low turnover, and the freedom to participate fully in both rallies and downturns.

Key risks to know

  • Call cap risk (GPIQ only): By systematically selling calls, GPIQ forgoes gains above the strike price. In strong rallies, the fund will underperform QQQ—the tradeoff is explicit but can frustrate investors during multi-year growth cycles.
  • NAV erosion risk (GPIQ only): A 10.22% yield far exceeds typical Nasdaq-100 dividend yields. If call premiums shrink or the index declines, distributions may rely increasingly on return of capital, eroding NAV over time.
  • Concentration in mega-cap tech: Both funds hold the top 7 Nasdaq-100 stocks (Apple, Microsoft, Nvidia, Tesla, Amazon, Broadcom, Costco, others) at outsized weights. Sector or multiple compression in large-cap tech affects both equally.
  • Options liquidity and roll risk (GPIQ only): Call strikes and expiries depend on liquid options markets. In a volatility spike or market stress, strike selection becomes constrained, potentially forcing less favorable rolls.
  • Beta mismatch (QQQ): QQQ's reported beta of 1.26 slightly exceeds 1.0, meaning it amplifies index moves in both directions. GPIQ's 1.0964 mitigates this via the call overlay.

Bottom line

If you want income and can accept capped upside from Nasdaq-100 exposure, GPIQ's monthly distributions and 0.29% fee are the deliberate tradeoff for that objective. Neither approach guarantees returns; GPIQ's high income yield warrants close monitoring for NAV sustainability, while QQQ's full beta exposure means riding the full Nasdaq cycle.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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