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ETF Comparison

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

A head-to-head comparison of Goldman Sachs S&P 500 Core Premium Income ETF and Schwab U.S. Dividend Equity ETF covering yield, cost, risk, and income potential.

Data updated August 14, 2026

Best for

  • GPIXInvestors who want to maximize current income — roughly 8.30%, generated by selling options premium.
  • SCHDInvestors who want a quality-dividend tilt rather than the whole market.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGPIXSCHD
Full nameGoldman Sachs S&P 500 Core Premium Income ETFSchwab U.S. Dividend Equity ETF
IssuerGoldman SachsSchwab
Last Close$56.61 as of August 14, 2026$34.52 as of August 14, 2026
Distribution yield8.30%2.93%
Distribution Safety Score™ 84100
Expense ratio0.29%0.06%
AUM$5.36B$106B
Distribution frequencyMonthlyQuarterly
Underlying indexSPXDow Jones U.S. Dividend 100 Index
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.Seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index, which measures the performance of high dividend yielding stocks issued by U.S. companies with a record of consistently paying dividends, selected for fundamental strength relative to their peers based on financial ratios.
Asset classEquityEquity
Inception date10/24/202310/20/2011
Beta0.85430.56
Last dividend$0.3916$0.2525
Ex-dividend date08/03/202606/24/2026

Bottom lineChoose GPIX if you want to maximize current income — roughly 8.30%, generated by selling options premium. Choose SCHD if you want a quality-dividend tilt rather than the whole market. There's no free lunch: GPIX's payout comes from selling options, which caps upside and can erode the share price over time, while SCHD 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

Model this comparison:
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Income calculator

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

Goldman Sachs
ETFs47
Total AUM$65.5B

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.

See all Goldman Sachs ETFs
Schwab
ETFs34
Total AUM$605B

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

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHD.

See all Schwab ETFs

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

GPIX has lagged SCHD over the trailing twelve months, posting a 20.93% total return against 30.33%. Measured from Oct 2023 — when the younger fund began trading — GPIX has compounded at 23.90% a year versus 20.38% for SCHD. 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.
SymbolYTD1YSince Oct 2023Volatility Sharpe Sortino Max drawdown
GPIX13.25%20.93%23.90%11.0%1.311.90-7.7%
SCHD26.54%30.33%20.38%10.9%2.013.38-4.6%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2023” measures every fund from October 26, 2023 — the youngest fund's first trading day — 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.

Quick verdict

GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both dividend ETFs, but they take different approaches.

GPIX offers the higher yield at 8.30% vs 2.93% for SCHD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SCHD is cheaper with an expense ratio of 0.06% compared to 0.29%.

They track different benchmarks: GPIX is linked to SPX while SCHD tracks Dow Jones U.S. Dividend 100 Index, which means their performance drivers differ.

SCHD is the larger fund by assets ($106B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose GPIX

Goldman Sachs S&P 500 Core Premium Income ETF

  • Want to maximize current income — GPIX distributes roughly 8.30% from selling options premium, vs 2.93% for SCHD.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose SCHD

Schwab U.S. Dividend Equity ETF

  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Want to keep costs low — a 0.06% expense ratio vs 0.29% for GPIX.
  • Prefer lower volatility — a beta of 0.6 vs 0.9 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 $69.17/month, while SCHD would produce $24.42/month, at current distribution rates.

GPIX yield8.30%
SCHD yield2.93%
Monthly diff on $10K$44.75

Cost & efficiency

Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $60 for SCHD (simplified, not compounded). The $230.00 difference may be offset by yield or performance.

GPIX ER0.29%
SCHD ER0.06%

Strategy & risk

GPIX tracks SPX with a covered call approach, while SCHD tracks Dow Jones U.S. Dividend 100 Index. Beta is 0.8543 for GPIX and 0.56 for SCHD, indicating SCHD is less volatile relative to the market.

GPIX beta0.8543
SCHD beta0.56

Fund details

GPIX is managed by Goldman Sachs (launched 10/24/2023) with $5.36B in assets. SCHD is managed by Schwab (launched 10/20/2011) with $106B in assets.

GPIX AUM$5.36B
SCHD AUM$106B
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Frequently asked questions

What is the current distribution yield for GPIX and SCHD?

GPIX currently distributes 8.30% and SCHD 2.93%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is GPIX or SCHD 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 SCHD?

GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) tracks SPX with a covered call approach, while SCHD (Schwab U.S. Dividend Equity ETF) tracks Dow Jones U.S. Dividend 100 Index. They are issued by Goldman Sachs and Schwab respectively.

Can I hold both GPIX and SCHD?

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 SCHD safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHD scores 100, GPIX scores 84, so SCHD's payout currently looks the more resilient of the two. SCHD has also shown lower price volatility (beta 0.56 vs 0.85 for GPIX). 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 SCHD?

GPIX has an expense ratio of 0.29% while SCHD charges 0.06%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIX would generate roughly $69.17 per month ($830.00 annually). The same in SCHD would produce about $24.42 per month ($293.00 annually).

Which has performed better historically, GPIX or SCHD?

GPIX has lagged SCHD over the trailing twelve months, posting a 20.93% total return against 30.33%. Measured from Oct 2023 — when the younger fund began trading — GPIX has compounded at 23.90% a year versus 20.38% for SCHD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIX vs SCHD — at a glance

Generated August 15, 2026.

Overview

GPIX and SCHD are both large-cap U.S. equity ETFs that emphasize dividend income, but their approaches differ fundamentally. GPIX is a covered-call strategy on the S&P 500 that sells call options to boost yield to 8.30%, while SCHD tracks a traditional dividend-focused index of 100 high-dividend U.S. stocks with a 2.93% yield. GPIX trades income potential for capped upside; SCHD trades simplicity and lower fees for a leaner income stream.

How they differ

The biggest difference is strategy: GPIX uses options overlay to generate enhanced income from broad S&P 500 exposure, whereas SCHD is a passive index tracker focused on dividend consistency and financial fundamentals. GPIX's 8.30% distribution rate dwarfs SCHD's 2.93%, but that comes from selling upside via call options—GPIX's beta of 0.8543 reflects reduced market capture. SCHD's beta of 0.56 signals even lower correlation, but it reflects its narrower, more defensive holding universe rather than options drag. Cost-wise, SCHD's 0.06% expense ratio is half GPIX's 0.29%, and SCHD's $106B in AUM is roughly 20 times larger, meaning deeper liquidity and tighter bid-ask spreads.

Who each is best for

GPIX: Fits investors who prioritize current monthly income over capital appreciation and accept that call-selling caps their upside in exchange for yield above 8%.

SCHD: Fits investors seeking a low-cost, buy-and-hold dividend exposure with less reliance on options mechanics and greater flexibility to capture market rallies.

Key risks to know

  • NAV erosion potential: GPIX's 8.30% distribution yield is roughly double its fund's price appreciation potential over a market cycle; distributions may include significant return-of-capital or erosion of principal over multi-year holding periods if the underlying S&P 500 doesn't deliver sustained capital gains.
  • Call option assignment risk: If the S&P 500 rallies sharply, GPIX's written calls will be assigned, capping gains and potentially forcing share redemptions or cash drag; investors effectively trade unlimited upside for enhanced current income.
  • Concentration in dividend-paying equities: SCHD's universe is limited to 100 high-dividend payers with consistent records, concentrating exposure in financial services, energy, and utilities; this may underperform in technology-led market cycles.
  • Beta variance: GPIX's beta of 0.8543 and SCHD's beta of 0.56 indicate very different market responsiveness; a 20% market drawdown would hit GPIX harder than SCHD, complicating direct comparison of downside protection.

Bottom line

If you want maximum current income and accept monthly distributions plus capped capital gains, GPIX's covered-call approach delivers substantially higher yield. If you prioritize a low-cost, simple dividend-equity holding with minimal options risk and greater upside flexibility, SCHD's passive index structure and 0.06% fee offer cleaner economics. Past performance doesn't 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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