A head-to-head comparison of Goldman Sachs S&P 500 Core Premium Income ETF and SPDR S&P 500 ETF Trust 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.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on SPY.
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.
Track the S&P 500 Index before expenses.
Asset class
Equity
Equity
Inception date
10/24/2023
01/22/1993
Beta
0.8543
1.0
Last dividend
$0.3937
$1.9035
Ex-dividend date
07/01/2026
09/18/2026
Bottom lineChoose GPIX if you want to maximize current income — roughly 8.51%, generated by selling options premium. Choose SPY if you want simple, diversified core exposure in one low-cost fund. There's no free lunch: GPIX's payout comes from selling options, which caps upside and can erode the share price over time, while SPY keeps full price exposure.
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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 SPY (SPDR S&P 500 ETF Trust) are both dividend ETFs, but they take different approaches.
GPIX offers the higher yield at 8.51% vs 1.01% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPY is cheaper with an expense ratio of 0.10% compared to 0.29%.
They track different benchmarks: GPIX is linked to SPX while SPY tracks S&P 500 Index, which means their performance drivers differ.
SPY is the larger fund by assets ($783B), 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 8.51% from selling options premium, vs 1.01% for SPY.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Choose SPY
SPDR S&P 500 ETF Trust
Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.10% 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 $70.92/month, while SPY would produce $8.42/month, at current distribution rates.
GPIX yield8.51%
SPY yield1.01%
Monthly diff on $10K$62.50
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $100 for SPY (simplified, not compounded). The $190.00 difference may be offset by yield or performance.
GPIX ER0.29%
SPY ER0.10%
Strategy & risk
GPIX tracks SPX with a covered call approach, while SPY tracks S&P 500 Index with a large cap approach. Beta is 0.8543 for GPIX and 1.0 for SPY, indicating GPIX is less volatile relative to the market.
GPIX beta0.8543
SPY beta1.0
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $4.40B in assets. SPY is managed by State Street (launched 01/22/1993) with $783B in assets.
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Frequently asked questions
Is GPIX or SPY 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 SPY?
GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) tracks SPX with a covered call approach, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by Goldman Sachs and State Street respectively.
Can I hold both GPIX and SPY?
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.
Which has lower fees, GPIX or SPY?
GPIX has an expense ratio of 0.29% while SPY charges 0.10%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in GPIX vs SPY generate?
At current rates, $10,000 in GPIX would generate roughly $70.92 per month ($851.00 annually). The same in SPY would produce about $8.42 per month ($101.00 annually).
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