A head-to-head comparison of Goldman Sachs S&P 500 Core Premium Income ETF and Overlay Shares Large Cap Equity ETF covering yield, cost, risk, and income potential.
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 GPIX.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Overlay Shares operates a focused lineup of four income-focused ETFs designed to generate regular distributions for investors. The company specializes in option overlay strategies that aim to enhance yield through covered call and similar income-generating techniques, with its funds trading under tickers OVF, OVL, OVLH, and OVS. This niche approach to dividend enhancement differentiates Overlay Shares within the broader ETF marketplace, appealing to investors seeking higher current income through systematic option strategies.
See our curated list of related YouTube videos on OVL.
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.
Put-selling overlay on large cap equity exposure via VOO (Vanguard S&P 500 ETF) to generate additional income.
Asset class
Equity
Equity
Inception date
03/20/2024
09/30/2019
Beta
0.8543
1.16
Last dividend
$0.3969
$0.4980
Ex-dividend date
06/01/2026
05/27/2026
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) and OVL (Overlay Shares Large Cap Equity ETF) are both monthly-pay dividend ETFs, but they take different approaches.
OVL offers the higher yield at 10.47% vs 8.58% 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 0.79%.
They track different benchmarks: GPIX is linked to SPX while OVL tracks S&P 500 (VOO), which means their performance drivers differ.
GPIX is the larger fund by assets ($4.40B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, GPIX would generate roughly $71.50/month, while OVL would produce $87.25/month, at current distribution rates. Both pay monthly distributions.
GPIX yield8.58%
OVL yield10.47%
Monthly diff on $10K$15.75
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $790 for OVL (simplified, not compounded). The $500.00 difference may be offset by yield or performance.
GPIX ER0.29%
OVL ER0.79%
Strategy & risk
GPIX tracks SPX with a s&p500 approach, while OVL tracks S&P 500 (VOO) with a fund of funds approach. Beta is 0.8543 for GPIX and 1.16 for OVL, indicating GPIX is less volatile relative to the market.
GPIX beta0.8543
OVL beta1.16
Fund details
GPIX is managed by Goldman Sachs (launched 03/20/2024) with $4.40B in assets. OVL is managed by Overlay Shares (launched 09/30/2019) with $277M in assets.
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Frequently asked questions
Is GPIX or OVL better for dividend income?
It depends on your goals. OVL 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.
What is the difference between GPIX and OVL?
GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) tracks SPX with a s&p500 approach, while OVL (Overlay Shares Large Cap Equity ETF) tracks S&P 500 (VOO) with a fund of funds approach. They are issued by Goldman Sachs and Overlay Shares respectively.
Can I hold both GPIX and OVL?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, GPIX or OVL?
GPIX has an expense ratio of 0.29% while OVL charges 0.79%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in GPIX vs OVL generate?
At current rates, $10,000 in GPIX would generate roughly $71.50 per month ($858.00 annually). The same in OVL would produce about $87.25 per month ($1,047.00 annually).
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