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ETF Comparison

GPIQ vs QQQI: Which Nasdaq Income Strategy Fits Better?

Compare two Nasdaq-100 option-income ETFs on distribution strategy, cost, tax approach, downside behavior, and total return — not yield alone.

Data updated August 19, 2026

Best for

  • GPIQInvestors who are comfortable trading away most upside for a large, steady payout.
  • QQQIInvestors who want to maximize current income — roughly 14.20%, generated by selling options premium.

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

GPIQ has outpaced QQQI over the trailing twelve months, posting a 22.66% total return against 16.45%. Measured from Jan 2024 — when the younger fund began trading — GPIQ has compounded at 21.16% a year versus 18.95% for QQQI. 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 Jan 2024Volatility Sharpe Sortino Max drawdown
GPIQ14.37%22.66%21.16%17.0%0.941.34-10.2%
QQQI9.73%16.45%18.95%16.5%0.650.91-9.6%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jan 2024” measures every fund from January 30, 2024 — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGPIQQQQI
Full nameGoldman Sachs Nasdaq-100 Core Premium Income ETFNEOS Nasdaq-100 High Income ETF
IssuerGoldman SachsNEOS
Last Close$56.85 as of August 19, 2026$55.07 as of August 19, 2026
Distribution yield10.26%14.20%
Distribution Safety Score™ 8484
Expense ratio0.29%0.68%
AUM$5.47B$14.2B
Distribution frequencyMonthlyMonthly
Underlying indexNASDAQ 100NASDAQ 100
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.Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.
Asset classEquityEquity
Inception date10/24/202301/29/2024
Beta1.09641.0553
Last dividend$0.4862$0.6518
Ex-dividend date08/03/202608/19/2026

Bottom lineChoose GPIQ if you are comfortable trading away most upside for a large, steady payout. Choose QQQI if you want to maximize current income — roughly 14.20%, generated by selling options premium.

Same Nasdaq engine, different income implementation

Both funds start with Nasdaq-100 exposure and sell options to create monthly cash. The relevant trade-off is the price and design of that overlay, not which current yield is larger on one snapshot date.

GPIQQQQI
Underlying exposureNASDAQ 100NASDAQ 100
Expense ratio0.29%0.68%
Distribution yield10.26%14.20%
Fund size$5.47B$14.2B
Primary trade-offLower-cost options overlayTax-aware index-options overlay

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 and QQQI generate 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
ETFs47
Total AUM$66.8B

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
NEOS
ETFs19
Total AUM$32.2B

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

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on QQQI.

See all NEOS ETFs

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Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

QQQI offers the higher yield at 14.20% vs 10.26% 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 0.68%.

QQQI is the larger fund by assets ($14.2B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose GPIQ

Goldman Sachs Nasdaq-100 Core Premium Income ETF

  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Want to keep costs low — a 0.29% expense ratio vs 0.68% for QQQI.

Choose QQQI

NEOS Nasdaq-100 High Income ETF

  • Want to maximize current income — QQQI distributes roughly 14.20% from selling options premium, vs 10.26% for GPIQ.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

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 $85.50/month, while QQQI would produce $118.33/month, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.26%
QQQI yield14.20%
Monthly diff on $10K$32.83

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $680 for QQQI (simplified, not compounded). The $390.00 difference may be offset by yield or performance.

GPIQ ER0.29%
QQQI ER0.68%

Strategy & risk

Both GPIQ and QQQI wrap NASDAQ 100 with options-based income overlays (covered call and options). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.0964 for GPIQ and 1.0553 for QQQI — effectively similar market sensitivity.

GPIQ beta1.0964
QQQI beta1.0553

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $5.47B in assets. QQQI is managed by NEOS (launched 01/29/2024) with $14.2B in assets.

GPIQ AUM$5.47B
QQQI AUM$14.2B
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Frequently asked questions

What is the main difference between GPIQ and QQQI?

Both funds pair Nasdaq-100 equity exposure with an options overlay and pay monthly. GPIQ and QQQI differ in how their managers implement that overlay, their tax approach, and cost: 0.29% versus 0.68%. Their current distribution yields are 10.26% and 14.20%, respectively, but that gap should be read with total return and drawdown because more cash paid out does not automatically mean more wealth created. Figures as of August 2026.

What is the current distribution yield for GPIQ and QQQI?

GPIQ currently distributes 10.26% and QQQI 14.20%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is GPIQ or QQQI better for dividend income?

It depends on your goals. QQQI 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 QQQI?

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.

Is GPIQ or QQQI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: GPIQ scores 84, QQQI scores 84. Neither has a clear safety edge on that measure. 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 QQQI?

GPIQ has an expense ratio of 0.29% while QQQI charges 0.68%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIQ would generate roughly $85.50 per month ($1,026.00 annually). The same in QQQI would produce about $118.33 per month ($1,420.00 annually).

Which has performed better historically, GPIQ or QQQI?

GPIQ has outpaced QQQI over the trailing twelve months, posting a 22.66% total return against 16.45%. Measured from Jan 2024 — when the younger fund began trading — GPIQ has compounded at 21.16% a year versus 18.95% for QQQI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIQ vs QQQI — at a glance

Generated August 16, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

Both GPIQ and QQQI are Nasdaq-100 covered-call ETFs that generate monthly income by holding large-cap tech and growth stocks while selling call options against them. The key difference: QQQI targets a significantly higher yield (13.66% vs. 10.12%) through a more aggressive options strategy, while GPIQ pursues a balance of income and capital appreciation with a lower expense ratio and more modest call writing.

How they differ

QQQI's distribution rate of 13.66% is 350 basis points higher than GPIQ's 10.12%, reflecting a more aggressive approach to call-writing that caps upside in exchange for premium income. QQQI also costs more to own—its 0.68% expense ratio is 39 basis points above GPIQ's 0.29%—and manages a substantially larger asset base ($14.2B vs. $5.37B), suggesting it has attracted investors specifically seeking maximum monthly payouts. GPIQ carries a slightly higher beta of 1.0964 compared to QQQI's 1.0553, meaning it may swing a bit harder with broad Nasdaq-100 moves, though both are positioned to move broadly in line with the benchmark.

Who each is best for

GPIQ: Fits investors who want meaningful monthly income from a large-cap tech foundation but don't want to sacrifice all upside potential—those comfortable with 10%+ yields but valuing the prospect of modest capital appreciation alongside distributions.

QQQI: Designed for income-focused holders prioritizing the highest sustainable monthly payout from Nasdaq-100 exposure and willing to accept capped capital gains and higher fees in exchange for maximum yield generation.

Key risks to know

  • NAV erosion at elevated yields. A 13.66% distribution rate on QQQI relies heavily on call-option premium; if volatility contracts or the Nasdaq-100 rallies sharply, the fund may struggle to meet distributions without depleting NAV. GPIQ faces this risk too, but at a lower intensity given its 10.12% target yield.
  • Capped upside from call overlays. Both funds limit capital gains by selling calls; shareholders forfeit profits if the Nasdaq-100 rises beyond the strike price. QQQI's higher yield likely means tighter strikes, making this tradeoff more severe.
  • Options pricing and volatility dependency. Call premium is highest when implied volatility is elevated; both funds' ability to sustain distributions depends on continued demand for downside hedges. A sustained drop in realized volatility could meaningfully compress income generation.
  • Expense drag at scale. QQQI's 0.68% expense ratio is material on a 13.66% distribution; in a lower-yield environment, expenses could consume a larger portion of total returns.

Bottom line

If you prioritize maximum current income and can accept capped upside, QQQI delivers a higher yield backed by a larger fund. If you want solid monthly income without forgoing all capital appreciation potential and prefer lower fees, GPIQ offers a less aggressive trade-off. Past performance does not predict future results, and both funds' distributions depend on sustained options market conditions and Nasdaq-100 volatility.

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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