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ETF Comparison

GPIQ vs ROCQ: Two Nasdaq Income Overlays, Two Managers

A head-to-head of Goldman Sachs Nasdaq-100 Core Premium Income and JPMorgan Nasdaq Equity Premium Yield covering design and cost.

Updated October 16, 2026

How these figures are calculated: methodology.

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. 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.

GPIQ has outpaced ROCQ over the year to date, posting a 14.71% total return against 14.50%. 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.
SymbolYTD cumulativeSince Mar 2026Volatility Sharpe Sortino Max drawdown
GPIQ14.71%16.63%18.7%1.191.77-9.4%
ROCQ14.50%14.50%17.7%1.081.57-8.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 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 Mar 2026” measures every fund from March 19, 2026 — 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 shared window since Mar 2026. 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 shared window since Mar 2026) — 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.
MetricGPIQROCQ
Full nameGoldman Sachs Nasdaq-100 Premium Income ETFJPMorgan Nasdaq Equity Premium Yield ETF
IssuerGoldman SachsJPMorgan
Last Close$55.55 as of October 16, 2026$53.84 as of October 16, 2026
Distribution rate10.99%10.94%
Trailing 12-month yield10.38%6.28%
Distribution Safety Score™ 8050
Safety-Adjusted Yield 8.79%—
Expense ratio0.29%0.35%
AUM$6.48B$731M
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.Designed to deliver current yield while maintaining prospects for capital appreciation and total return.
Asset classEquityEquity
Inception date10/24/202303/19/2026
Beta1.09641.2193
Last dividend$0.50881$0.491
Ex-dividend date10/01/202610/01/2026

Bottom lineGPIQ and ROCQ are nearly interchangeable — both track the Nasdaq-100 with very similar cost and risk. The clearest tie-breaker is cost: GPIQ is cheaper at 0.29% vs 0.35%.

GPIQ vs ROCQ: Goldman or JPMorgan Nasdaq income?

Same Nasdaq-100 income idea; manager and overlay plumbing differ.

GPIQROCQ
IssuerGoldman SachsJPMorgan
IndexNasdaq-100Nasdaq-100
Expense ratio0.29%0.35%
Distribution rate10.99%10.94%
Fund size$6.48B$731M

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 ROCQ 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

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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$69.6B

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 ETFs from Goldman Sachs
JPMorgan
ETFs78
Total AUM$353B

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

JPMorgan is a major provider of ETFs spanning multiple asset classes and strategies, with particular strength in income-focused funds including their popular covered call strategy lineup. Their fund family encompasses broad categories including bond, equity, factor, income, index, international, municipal, and sector ETFs, providing investors with diverse exposure options across markets and investment styles. The issuer offers both core indexed strategies and actively managed solutions, serving investors seeking everything from traditional dividend income to sophisticated factor-based and thematic approaches.

See our curated list of related YouTube videos on ROCQ.

See all ETFs from JPMorgan

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Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) and ROCQ (JPMorgan Nasdaq Equity Premium Yield ETF) are both monthly-pay dividend ETFs, but they take different approaches.

GPIQ offers the higher yield at 10.99% vs 10.94% for ROCQ. 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%.

GPIQ is the larger fund by assets ($6.48B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, GPIQ would generate roughly $91.58 cash per distribution, while ROCQ would produce $91.17 cash per distribution, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.99%
ROCQ yield10.94%
Cash diff on $10K$0.42

Cost & efficiency

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

GPIQ ER0.29%
ROCQ ER0.35%

Strategy & risk

GPIQ tracks Nasdaq-100 with a covered call approach, while ROCQ tracks Nasdaq-100 with a covered call approach. Beta is 1.0964 for GPIQ and 1.2193 for ROCQ, making GPIQ the less volatile of the two by this measure.

GPIQ beta1.0964
ROCQ beta1.2193

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $6.48B in assets. ROCQ is managed by JPMorgan (launched 03/19/2026) with $731M in assets.

GPIQ AUM$6.48B
ROCQ AUM$731M
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Frequently asked questions

What is the difference between GPIQ and ROCQ?

GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) is Goldman's Nasdaq-100 core premium income overlay. ROCQ (JPMorgan Nasdaq Equity Premium Yield ETF) is JPMorgan's Nasdaq equity premium yield fund. Same index idea, different manager and overlay plumbing. Cost is 0.29% versus 0.35%; size is $6.48B versus $731M. Distributions are 10.99% and 10.94% as of October 2026. Manager and overlay, not a one-date yield, are the live differences.

What is the current distribution rate for GPIQ and ROCQ?

GPIQ currently distributes 10.99% and ROCQ 10.94%, based on fund data updated October 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 ROCQ 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 ROCQ?

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 ROCQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — GPIQ scores 80, ROCQ scores 50, so GPIQ's payout currently looks the more resilient of the two. 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 ROCQ?

GPIQ has an expense ratio of 0.29% while ROCQ 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 ROCQ generate?

At current rates, $10,000 in GPIQ would generate roughly $91.58 cash per distribution ($1,099.00 annually). The same in ROCQ would produce about $91.17 cash per distribution ($1,094.00 annually).

Which has performed better historically, GPIQ or ROCQ?

GPIQ has outpaced ROCQ over the year to date, posting a 14.71% total return against 14.50%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIQ vs ROCQ — at a glance

Generated October 17, 2026.

Overview

GPIQ and ROCQ are both covered-call ETFs that harvest income by selling call options against holdings in the Nasdaq-100 index. They pursue nearly identical yield targets—10.99% for GPIQ and 10.94% for ROCQ—but differ sharply in asset base and longevity. GPIQ is the larger, more established fund, while ROCQ is a recent launch seeking to capture the same income-overlay strategy.

How they differ

Both funds employ call-option premiums to generate income from Nasdaq-100 stocks, but GPIQ owns $6.48B in assets versus $731M for ROCQ—making GPIQ nearly nine times larger. That size difference may translate to tighter execution on option sales and more stable trading spreads, though neither offers a liquidity guarantee. Over time, that difference compounds. Both distribute monthly, and their yield target is nearly flat, so fee drag is the clearer differentiator.

Beta reveals a third gap: GPIQ trades at 1.0964 versus ROCQ's 1.2193, suggesting ROCQ's call-selling program may cap upside more tightly or reflect its shorter track record and smaller option-writing scale. GPIQ has been live since 10/24/2023, allowing more seasoned execution, while ROCQ launched 03/19/2026.

Key risks to know

  • NAV erosion at sustained high yields. Both funds distribute roughly 11% annually while the Nasdaq-100 itself typically yields near zero. Over years of sustained distributions above underlying index returns, NAV decay is likely, eroding the principal an investor would have before accounting for payouts.
  • Call-writing cap on upside. Selling calls to fund income inherently limits capital appreciation in strong rally periods. When the Nasdaq-100 rises sharply, both funds will underperform an unhedged Nasdaq-100 ETF, particularly if volatility falls and option premiums compress.
  • Beta and volatility mismatch. ROCQ's beta of 1.2193 exceeds GPIQ's 1.0964, suggesting either tighter call strikes, smaller option positions, or tracking volatility differently. Investors should verify option-strike policies and whether beta compression is intentional or reflects execution lag in a younger fund.

Bottom line

If you prioritize cost efficiency and an established track record, GPIQ's lower fee and larger size offer a clearer execution path. If you're committed to JPMorgan's options expertise and the newer structure appeals, ROCQ delivers similar income—but at a higher expense ratio and with less operating history to assess. Both funds carry NAV-erosion risk at yields this high; neither is a substitute for understanding the trade-off between monthly income and principal preservation.

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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These comparisons follow the Dividend Vision methodology.