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.
GPIX has outpaced JEPI over the trailing twelve months, posting a 17.00% total return against 6.88%. Measured from Oct 2023 — the start of shared available history — GPIX has compounded at 22.75% a year versus 11.32% for JEPI. JEPI has been the steadier holding, though — annualized volatility of 8.1% against 11.2% for GPIX. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 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 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.
Seeks current income while maintaining prospects for capital appreciation by investing at least 80% of net assets in companies included in the S&P 500 and selling call options with exposure to the benchmark.
Seeks monthly income and lower volatility than the broad U.S. large-cap market by combining an actively managed portfolio of equities with equity-linked notes that sell call options on the S&P 500 Index.
Bottom lineChoose GPIX if you want broad U.S. equity exposure with a dynamic index-call overlay. Choose JEPI if you want active equity selection and accept the ELN income structure. Compare net total returns over matching dates, distribution sources, and current holdings. A distribution rate is not a return forecast, and tax return of capital alone does not establish economic loss. Payments and prices can fall.
Different portfolios and different income instruments
GPIX combines S&P 500-oriented equity exposure with dynamically managed index-call writing. JEPI combines actively selected U.S. equities with equity-linked notes that provide option-income exposure. Neither is a passive S&P 500 tracker. Compare stock selection and derivative structure before yield.
GPIX
JEPI
Approach
S&P 500-oriented equities and dynamic index calls
Actively selected equities and equity-linked notes
Risk review
Equity losses, index/portfolio mismatch, and forgone upside
Equity losses, forgone upside, and ELN counterparty and valuation risks
Expense ratio
0.29%
0.35%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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. GPIX 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.
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 GPIX.
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 JEPI.
GPIX (Goldman Sachs S&P 500 Premium Income ETF) and JEPI (JPMorgan Equity Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
GPIX offers the higher yield at 8.53% vs 7.30% for JEPI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
GPIX is cheaper with an expense ratio of 0.29% compared to 0.35%.
JEPI is the larger fund by assets ($45.7B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, GPIX would generate roughly $71.08 cash per distribution, while JEPI would produce $60.83 cash per distribution, at current distribution rates. Both pay monthly distributions.
GPIX yield8.53%
JEPI yield7.30%
Cash diff on $10K$10.25
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $350 for JEPI (simplified, not compounded). The $60.00 difference may be offset by yield or performance.
GPIX ER0.29%
JEPI ER0.35%
Strategy & risk
GPIX combines S&P 500-oriented equity exposure with dynamically managed index-call writing. JEPI combines actively selected U.S. equities with equity-linked notes that provide option-income exposure. Neither is a passive S&P 500 tracker. Compare stock selection and derivative structure before yield. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
GPIX beta0.8543
JEPI beta0.43
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $5.97B in assets. JEPI is managed by JPMorgan (launched 05/20/2020) with $45.7B in assets.
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Frequently asked questions
What is the difference between GPIX and JEPI?
GPIX combines S&P 500-oriented equities with a dynamic index-call overlay. JEPI uses active stock selection and equity-linked notes for option-income exposure, adding ELN counterparty and valuation risks. Both can lose value and change their payments. Historical beta does not establish payout safety, option coverage, or guaranteed downside protection.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
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