GPIX
Safe
High confidence
ETF Comparison
GPIX vs JEPQ: S&P 500 Income, or Nasdaq-100 Income?
A head-to-head of Goldman Sachs S&P 500 Core Premium Income and JPMorgan Nasdaq Equity Premium Income covering index and overlay.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- GPIXInvestors who want broader S&P 500 exposure across more sectors.
- JEPQInvestors who want Nasdaq-100 exposure and can accept a more concentrated book.
Price and total return
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
JEPQ
Safe
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  GPIX |  JEPQ |
|---|---|---|
| Full name | Goldman Sachs S&P 500 Premium Income ETF | JPMorgan Nasdaq Equity Premium Income ETF |
| Issuer | Goldman Sachs | JPMorgan |
| Underlying index | S&P 500 | Actively managed (no tracked index recorded) |
| Last Close | $53.36 as of November 6, 2026 | $54.34 as of November 6, 2026 |
| Distribution rate | 8.74% | 11.91% |
| Trailing 12-month yield | 8.62% | 12.79% |
| Distribution Safety Score™ | 84 | 82 |
| Safety-Adjusted Yield | 7.34% | 9.77% |
| Expense ratio | 0.29% | 0.35% |
| AUM | $6.40B | $42.1B |
| Distribution frequency | Monthly | Monthly |
| Objective | 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 by combining an actively managed portfolio of equities drawn largely from the Nasdaq-100 Index with equity-linked notes that sell call options on that benchmark. |
| Asset class | Equity | Equity |
| Inception date | 10/24/2023 | 05/03/2022 |
| Beta | 0.81 | 0.8 |
| Last dividend | $0.38852 payable 11/06/2026 | $0.53922 |
| Ex-dividend date | 11/02/2026 | 11/02/2026 |
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 JEPQ over the trailing twelve months, posting a 10.53% total return against 3.24%. The lead holds up over 3 years too: GPIX has compounded at 18.53% a year, against 16.11% for JEPQ. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | Since Oct 2023 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|
| GPIX | 8.94% | 10.53% | 18.53% | 20.29% | 13.6% | 0.96 | 1.36 | -17.5% |
| JEPQ | 2.01% | 3.24% | 16.11% | 18.36% | 16.1% | 0.68 | 0.93 | -20.1% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 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 trailing 3 years. 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 trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineChoose GPIX if you want broader S&P 500 exposure across more sectors. Choose JEPQ if you want Nasdaq-100 exposure and can accept a more concentrated book. GPIX and JEPQ 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.
S&P 500 overlay versus Nasdaq-100 overlay
GPIX overlays the S&P 500. JEPQ overlays the Nasdaq-100. Same income idea, different index risk.
| GPIX | JEPQ | |
|---|---|---|
| Index | S&P 500 | Nasdaq-100 |
| Expense ratio | 0.29% | 0.35% |
| Distribution rate | 8.74% | 11.91% |
| Fund size | $6.40B | $42.1B |
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 and JEPQ 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
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs48
Total AUM$69.2B
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.
ETFs78
Total AUM$355B
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 JEPQ.
Quick verdict
GPIX (Goldman Sachs S&P 500 Premium Income ETF) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
JEPQ offers the higher yield at 11.91% vs 8.74% for GPIX. 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%.
They have different reference exposures: GPIX is linked to S&P 500 while JEPQ is linked to Nasdaq-100, which means their performance drivers differ.
JEPQ is the larger fund by assets ($42.1B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose GPIX
Goldman Sachs S&P 500 Premium Income ETF
- Want broader S&P 500 exposure — more sectors and less mega-cap concentration.
- Want a covered-call overlay as the option-income approach; review holdings and issuer disclosures.
- 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 JEPQ.
Choose JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
- Want Nasdaq-100 exposure — fewer names and a heavier technology weight.
- Want equity-linked notes as the option-income approach; review holdings and issuer disclosures.
- Want to maximize current income — JEPQ distributes roughly 11.91% from selling options premium, vs 8.74% for GPIX.
- 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.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
5 shared positions
GPIX 26.8% of its top-10 weight
JEPQ 26.2% of its top-10 weight
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, GPIX would pay about $874.00 a year (about $72.83 per monthly distribution), while JEPQ would pay about $1,191.00 a year (about $99.25 per monthly distribution). Both pay monthly distributions.
GPIX yield8.74%
JEPQ yield11.91%
Annual cash diff on $10K$317.00
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $350 for JEPQ (simplified, not compounded). The $60.00 difference may be offset by yield or performance.
GPIX ER0.29%
JEPQ ER0.35%
Strategy & risk
GPIX tracks S&P 500 with a covered call approach, while JEPQ is actively managed around Nasdaq-100 exposure with an ELN-based call-option approach. Beta is 0.81 for GPIX and 0.8 for JEPQ — effectively similar market sensitivity.
GPIX beta0.81
JEPQ beta0.8
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $6.40B in assets. JEPQ is managed by JPMorgan (launched 05/03/2022) with $42.1B in assets.
GPIX AUM$6.40B
JEPQ AUM$42.1B
Frequently asked questions
What is the difference between GPIX and JEPQ?
GPIX (Goldman Sachs S&P 500 Premium Income ETF) overlays the S&P 500 for cash. JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) overlays the Nasdaq-100. Index, not issuer brand, is the split. Cost is 0.29% versus 0.35%; size is $6.40B versus $42.1B. Distributions are 8.74% and 11.91% as of November 2026.
What is the current distribution rate for GPIX and JEPQ?
GPIX currently distributes 8.74% and JEPQ 11.91%, based on fund data updated November 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is GPIX or JEPQ better for dividend income?
It depends on your goals. JEPQ 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 GPIX and JEPQ?
You can, but expect meaningful overlap: 5 of the disclosed top-10 positions are shared (see the holdings-overlap section above). Holding both may double up on the same underlying names rather than diversify.
Is GPIX or JEPQ 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: GPIX scores 84, JEPQ scores 82. 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, GPIX or JEPQ?
GPIX has an expense ratio of 0.29% while JEPQ charges 0.35%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in GPIX vs JEPQ generate?
At current distribution rates, $10,000 in GPIX would pay about $874.00 a year (about $72.83 per monthly distribution). $10,000 in JEPQ would pay about $1,191.00 a year (about $99.25 per monthly distribution).
Which has performed better historically, GPIX or JEPQ?
GPIX has outpaced JEPQ over the trailing twelve months, posting a 10.53% total return against 3.24%. The lead holds up over 3 years too: GPIX has compounded at 18.53% a year, against 16.11% for JEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.