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ETF Comparison

GPIX vs QQQ: Which Is the Better Pick in 2026?

A head-to-head comparison of Goldman Sachs S&P 500 Premium Income ETF and Invesco QQQ Trust covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

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

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.

GPIX has lagged QQQ over the trailing twelve months, posting a 16.76% total return against 24.14%. Measured from Oct 2023 — the start of shared available history — QQQ has compounded at 30.67% a year versus 22.46% for GPIX. GPIX has been the steadier holding, though — annualized volatility of 11.2% against 19.9% for QQQ. 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 cumulative1Y cumulativeSince Oct 2023Volatility Sharpe Sortino Max drawdown
GPIX12.49%16.76%22.46%11.2%0.981.41-7.7%
QQQ21.07%24.14%30.67%19.9%0.861.24-12.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 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.
MetricGPIXQQQ
Full nameGoldman Sachs S&P 500 Premium Income ETFInvesco QQQ Trust
IssuerGoldman SachsInvesco
Underlying indexS&P 500Nasdaq-100 Index
Last Close$55.83 as of September 30, 2026$739.77 as of September 30, 2026
Distribution rate8.54%0.41%
Trailing 12-month yield8.16%0.42%
Distribution Safety Score™ 8497
Safety-Adjusted Yield 7.17%0.40%
Expense ratio0.29%0.18%
AUM$5.97B$501B
Distribution frequencyMonthlyQuarterly
ObjectiveSeeks 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.Track the Nasdaq-100 Index, which includes 100 of the largest non-financial Nasdaq stocks.
Asset classEquityEquity
Inception date10/24/202303/10/1999
Beta0.85431.26
Last dividend$0.39738$0.75143 declared, pays 10/08/2026
Ex-dividend date09/01/202609/21/2026

Bottom lineChoose GPIX if you want broader S&P 500 exposure and lower measured market sensitivity. Choose QQQ if you want Nasdaq-100 exposure and can accept a more concentrated book. There's no free lunch: GPIX's payout comes from selling options, which caps upside and can erode the share price over time, while QQQ keeps full price exposure.

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.

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$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 GPIX.

See all Goldman Sachs ETFs
Invesco
ETFs246
Total AUM$1013B

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

Invesco is a major ETF provider known for offering a comprehensive lineup spanning multiple asset classes and investment strategies. The company specializes in income-focused products including dividend, covered call, and bond strategies, while also maintaining broad exposure across equity, factor-based, thematic, and ESG investing themes. Invesco's portfolio ranges from index-tracking funds to alternatives and specialized offerings like digital assets and BulletShares, making it one of the more expansive ETF families available to investors.

See our curated list of related YouTube videos on QQQ.

See all Invesco ETFs

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Quick verdict

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and QQQ (Invesco QQQ Trust) are both dividend ETFs, but they take different approaches.

GPIX offers the higher yield at 8.54% vs 0.41% for QQQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QQQ is cheaper with an expense ratio of 0.18% compared to 0.29%.

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

QQQ is the larger fund by assets ($501B), 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, less mega-cap concentration, and typically lower beta.
  • Want to maximize current income — GPIX distributes roughly 8.54% from selling options premium, vs 0.41% for QQQ.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Prefer lower volatility — a beta of 0.9 vs 1.3 for QQQ.

Choose QQQ

Invesco QQQ Trust

  • Want Nasdaq-100 exposure — fewer names, heavier technology weight, and typically a higher current distribution.
  • Want a growth tilt and can accept larger swings for more upside.
  • Want to keep costs low — a 0.18% expense ratio vs 0.29% for GPIX.

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, GPIX would generate roughly $71.17 cash per distribution, while QQQ would produce $10.25 cash per distribution, at current distribution rates.

GPIX yield8.54%
QQQ yield0.41%
Cash diff on $10K$60.92

Cost & efficiency

Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $180 for QQQ (simplified, not compounded). The $110.00 difference may be offset by yield or performance.

GPIX ER0.29%
QQQ ER0.18%

Strategy & risk

GPIX tracks S&P 500 with a covered call approach, while QQQ tracks Nasdaq-100 Index with a growth approach. Beta is 0.8543 for GPIX and 1.26 for QQQ, making GPIX the less volatile of the two by this measure.

GPIX beta0.8543
QQQ beta1.26

Fund details

GPIX is managed by Goldman Sachs (launched 10/24/2023) with $5.97B in assets. QQQ is managed by Invesco (launched 03/10/1999) with $501B in assets.

GPIX AUM$5.97B
QQQ AUM$501B
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Frequently asked questions

What is the current distribution rate for GPIX and QQQ?

GPIX currently distributes 8.54% and QQQ 0.41%, based on fund data updated September 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 QQQ better for dividend income?

It depends on your goals. GPIX 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 QQQ?

GPIX (Goldman Sachs S&P 500 Premium Income ETF) tracks S&P 500 with a covered call approach, while QQQ (Invesco QQQ Trust) tracks Nasdaq-100 Index with a growth approach. They are issued by Goldman Sachs and Invesco respectively.

Can I hold both GPIX and QQQ?

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 GPIX or QQQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — QQQ scores 97, GPIX scores 84, so QQQ's payout currently looks the more resilient of the two. GPIX has also shown lower price volatility (beta 0.85 vs 1.26 for QQQ). 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 QQQ?

GPIX has an expense ratio of 0.29% while QQQ charges 0.18%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in GPIX vs QQQ generate?

At current rates, $10,000 in GPIX would generate roughly $71.17 cash per distribution ($854.00 annually). The same in QQQ would produce about $10.25 cash per distribution ($41.00 annually).

Which has performed better historically, GPIX or QQQ?

GPIX has lagged QQQ over the trailing twelve months, posting a 16.76% total return against 24.14%. Measured from Oct 2023 — the start of shared available history — QQQ has compounded at 30.67% a year versus 22.46% for GPIX. GPIX has been the steadier holding, though — annualized volatility of 11.2% against 19.9% for QQQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIX vs QQQ — at a glance

Generated September 26, 2026.

The core distinction is strategy: GPIX uses options overlays to harvest income at the cost of capping upside, whereas QQQ pursues total return with almost no income component.

How they differ

GPIX's 8.54% distribution rate dwarfs QQQ's 0.41%, but that income comes from a covered call strategy that caps capital appreciation when the underlying S&P 500 rallies past the strike price. QQQ's $501B in assets under management far exceeds GPIX's $5.97B, reflecting QQQ's 25-year track record versus GPIX's 2 years inception. GPIX carries a 0.8543 beta (muted relative to the broad market), while QQQ's 1.26 beta amplifies growth-stock volatility; GPIX's 0.29% expense ratio is higher than QQQ's 0.18%, though the fee difference is modest and easily offset by GPIX's income yield for many investors.

Who each is best for

GPIX: Fits investors seeking regular monthly cash flow from equity exposure while accepting that outsized rallies in the S&P 500 will be partially surrendered; works best for those with moderate risk tolerance and a bias toward current income over total return.

QQQ: Designed for growth-focused investors with a long time horizon who favor exposure to the Nasdaq-100's concentration of large technology and innovation-driven names and can tolerate above-market volatility; suits those prioritizing capital appreciation over distributions.

Key risks to know

  • Options cap and NAV erosion risk: GPIX's 8%+ distribution yield relies on call-option premiums. If the S&P 500 rallies sharply, those calls are exercised and upside is forfeited; sustained outperformance of the S&P 500 could erode NAV relative to unhedged S&P exposure over time.
  • Covered call opportunity cost: In a bull market, GPIX's beta of 0.85 means investors intentionally forgo gains beyond the strike price each month; the long-term penalty for this trade-off depends heavily on market regime and realized volatility.
  • Nasdaq concentration and sector tilts: QQQ's 100-stock universe excludes financials and concentrates heavily in technology and growth; it bears higher correlation to software, semiconductors, and consumer discretionary cycles, amplifying losses during tech downturns.
  • QQQ leverage to interest rates: QQQ's 1.26 beta and growth tilt make it highly sensitive to rising rates and earnings multiples compression; duration risk in a hiking cycle can outpace any dividend cushion. The choice hinges on whether you value current cash flow or long-term capital appreciation more—past performance of either strategy does not predict 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.