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ETF Comparison

GPIQ vs ROCY: Nasdaq Income, or S&P 500 Premium Yield?

A head-to-head of Goldman Sachs Nasdaq-100 Core Premium Income and JPMorgan Equity Premium Yield covering the index underneath.

Updated October 8, 2026

How these figures are calculated: methodology.

Best for

  • GPIQInvestors who want Nasdaq-100 exposure and can accept a more concentrated book.
  • ROCYInvestors who want broader S&P 500 exposure and lower measured market sensitivity.

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. 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 ROCY over the shared window since Mar 2026, posting a 22.17% total return against 15.73%. ROCY has been the steadier holding, though — annualized volatility of 10.4% against 18.6% 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.
SymbolSince Mar 2026Volatility Sharpe Sortino Max drawdown
GPIQ22.17%18.6%1.682.55-9.4%
ROCY15.73%10.4%2.083.26-3.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 9, 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.
MetricGPIQROCY
Full nameGoldman Sachs Nasdaq-100 Premium Income ETFJPMorgan Equity Premium Yield ETF
IssuerGoldman SachsJPMorgan
Underlying indexNasdaq-100S&P 500
Last Close$57.93 as of October 8, 2026$55.39 as of October 8, 2026
Distribution rate10.54%6.61%
Trailing 12-month yield9.95%3.83%
Distribution Safety Score™ 8450
Safety-Adjusted Yield 8.85%—
Expense ratio0.29%0.35%
AUM$6.29B$777M
Distribution frequencyMonthlyMonthly
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
Beta1.09640.7639
Last dividend$0.50881$0.305
Ex-dividend date10/01/202610/01/2026

Bottom lineChoose GPIQ if you want Nasdaq-100 exposure and can accept a more concentrated book. Choose ROCY if you want broader S&P 500 exposure and lower measured market sensitivity. GPIQ and ROCY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

GPIQ vs ROCY: Nasdaq overlay or S&P premium yield?

GPIQ overlays the Nasdaq-100. ROCY overlays S&P 500 stocks. For ROCY vs GPIX, use the GPIX comparison — that is Goldman's S&P overlay.

GPIQROCY
IndexNasdaq-100S&P 500 stocks
IssuerGoldman SachsJPMorgan
Expense ratio0.29%0.35%
Distribution rate10.54%6.61%

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:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

Goldman Sachs
ETFs48
Total AUM$68.9B

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
JPMorgan
ETFs78
Total AUM$351B

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 ROCY.

See all JPMorgan ETFs

Want to go deeper?

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Quick verdict

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

GPIQ offers the higher yield at 10.54% vs 6.61% for ROCY. 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%.

They have different reference exposures: GPIQ is linked to Nasdaq-100 while ROCY is linked to S&P 500, which means their performance drivers differ.

GPIQ is the larger fund by assets ($6.29B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose GPIQ

Goldman Sachs Nasdaq-100 Premium Income ETF

  • Want Nasdaq-100 exposure — fewer names, heavier technology weight, and typically a higher current distribution.
  • Want to maximize current income — GPIQ distributes roughly 10.54% from selling options premium, vs 6.61% for ROCY.
  • 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 0.35% for ROCY.

Choose ROCY

JPMorgan Equity Premium Yield ETF

  • Want broader S&P 500 exposure — more sectors, less mega-cap concentration, and typically lower beta.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.8 vs 1.1 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 $87.83 cash per distribution, while ROCY would produce $55.08 cash per distribution, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.54%
ROCY yield6.61%
Cash diff on $10K$32.75

Cost & efficiency

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

GPIQ ER0.29%
ROCY ER0.35%

Strategy & risk

GPIQ tracks Nasdaq-100 with a covered call approach, while ROCY combines actively managed equities with laddered call spreads. Beta is 1.0964 for GPIQ and 0.7639 for ROCY, making ROCY the less volatile of the two by this measure.

GPIQ beta1.0964
ROCY beta0.7639

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $6.29B in assets. ROCY is managed by JPMorgan (launched 03/19/2026) with $777M in assets.

GPIQ AUM$6.29B
ROCY AUM$777M
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Frequently asked questions

What is the difference between GPIQ and ROCY?

GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) overlays the Nasdaq-100. ROCY (JPMorgan Equity Premium Yield ETF) overlays S&P 500 stocks for income. Same idea, different index and issuer. Cost is 0.29% versus 0.35%; distributions are 10.54% and 6.61% as of October 2026. Searchers comparing ROCY with GPIX want Goldman's S&P 500 overlay, not this Nasdaq page — that pair lives on the GPIX vs ROCY comparison.

What is the current distribution rate for GPIQ and ROCY?

GPIQ currently distributes 10.54% and ROCY 6.61%, 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 ROCY 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 ROCY?

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 ROCY 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 84, ROCY scores 50, so GPIQ's payout currently looks the more resilient of the two. ROCY has also shown lower price volatility (beta 0.76 vs 1.10 for GPIQ). 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 ROCY?

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

At current rates, $10,000 in GPIQ would generate roughly $87.83 cash per distribution ($1,054.00 annually). The same in ROCY would produce about $55.08 cash per distribution ($661.00 annually).

Which has performed better historically, GPIQ or ROCY?

GPIQ has outpaced ROCY over the shared window since Mar 2026, posting a 22.17% total return against 15.73%. ROCY has been the steadier holding, though — annualized volatility of 10.4% against 18.6% 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 ROCY — at a glance

Generated October 4, 2026.

Overview

GPIQ and ROCY are both equity ETFs that use covered call strategies to generate current income while holding stock portfolios. The defining difference is their index exposure: GPIQ tilts toward mega-cap growth; ROCY targets broad-market large-cap value and dividend-paying stocks. Both charge modest fees, with GPIQ at 0.29% and ROCY at 0.35%.

Who each is best for

GPIQ: Fits investors seeking higher current income from a concentrated bet on large-cap technology and growth stocks, and who can tolerate equity beta risk and the capital appreciation limits imposed by aggressive call selling.

ROCY: Fits investors who want lower volatility and a more moderate yield from broad-market exposure, trading off some current income for wider diversification and reduced downside sensitivity.

Key risks to know

  • Call-option cap on upside: Both funds sell calls to generate income, which caps gains if the market rallies hard. GPIQ's 1.0964 suggests this constraint may be tighter given the growth tilt of the Nasdaq-100.
  • NAV erosion at yields above 10%: GPIQ's 10.54% distribution rate is unusually high for an equity fund.
  • Concentration in technology and growth: GPIQ's Nasdaq-100 focus means significant overlap with mega-cap tech firms and growth stocks, widening exposure to sector downturns or valuation compression if interest rates rise.
  • Limited performance track record: ROCY's inception date of 03/19/2026 is very recent, offering little historical data on how the fund behaves across market cycles or stress periods.

Bottom line

If you prioritize current income and can accept that upside may be capped by call selling and that a 10.54% yield requires careful monitoring for NAV erosion, GPIQ offers substantially higher distributions. If you prefer lower volatility, broader diversification, and a more sustainable yield, ROCY's 6.61% and 0.7639 beta may suit a lower-volatility allocation—though its short track record limits confidence in its long-term behavior. Past performance does not guarantee future results.

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.