GPIX actively selects S&P 500-oriented equities and varies its call overwrite. TSPY combines SPY exposure with short-dated call writing, generally using same-day expirations. These are equity-income strategies with capital risk, not substitutes for money needed for an imminent payment.
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 outpaced TSPY over the trailing twelve months, posting a 17.54% total return against 15.38%. Measured from Aug 2024 — the start of shared available history — GPIX has compounded at 17.97% a year versus 17.12% for TSPY. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 9, 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 Aug 2024” measures every fund from August 15, 2024 — 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.
Distribution rate and SEC yield
Metric
GPIX
TSPY
Forward distribution rate
8.48%
13.99%
Trailing 12-month yield
8.17%
14.00%
30-day SEC yield
—
0.34%
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Total return against the stated underlying is on TSPY vs SPY.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
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.
The TappAlpha S&P 500 Growth & Daily Income ETF (the "Fund") seeks current income while maintaining prospects for capital appreciation. The Fund’s secondary investment objective is to seek exposure to the performance of the SPDR S&P 500 ETF Trust ("SPY"), subject to a limit on potential investment gains.
Bottom lineChoose GPIX if you want active equity selection and dynamic option coverage. Choose TSPY if you want SPY exposure with daily call writing and accept its path dependence. Payments can change and may include tax return of capital. Neither a payout rate nor tax character proves total return, distribution coverage, or principal safety.
Active stock selection versus SPY with short-dated calls
GPIX actively selects S&P 500-oriented equities and varies its call overwrite. TSPY combines SPY exposure with short-dated call writing, generally using same-day expirations. These are equity-income strategies with capital risk, not substitutes for money needed for an imminent payment.
GPIX
TSPY
Approach
Active equities and dynamic call overwrite
SPY holdings and short-dated call writing
Risk review
Equity selection, market losses, and forgone upside
Equity losses, daily option path, and underlying-fund exposure
Expense ratio
0.29%
0.71%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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 TSPY 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.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
TappAlpha operates a focused ETF lineup of four funds organized around two main families: Growth & Daily Income and T² Lift Series. The company's fund offerings span growth-oriented strategies and daily income approaches, with ticker symbols including TDAQ, TDAX, TSPY, and TSYX that target investors seeking regular income generation or equity growth exposure. As a smaller, specialized ETF provider, TappAlpha positions itself in a niche segment of the ETF market focused on daily income strategies and differentiated growth approaches.
See our curated list of related YouTube videos on TSPY.
GPIX (Goldman Sachs S&P 500 Premium Income ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
TSPY offers the higher yield at 13.99% vs 8.48% 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 0.71%.
They have different reference exposures: GPIX is linked to S&P 500 while TSPY is linked to SPDR S&P 500 ETF Trust (SPY), which means their performance drivers differ.
GPIX is the larger fund by assets ($6.04B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, GPIX would generate roughly $70.67 cash per distribution, while TSPY would produce $116.58 cash per distribution, at current distribution rates. Both pay monthly distributions.
GPIX yield8.48%
TSPY yield13.99%
Cash diff on $10K$45.92
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $710 for TSPY (simplified, not compounded). The $420.00 difference may be offset by yield or performance.
GPIX ER0.29%
TSPY ER0.71%
Strategy & risk
GPIX actively selects S&P 500-oriented equities and varies its call overwrite. TSPY combines SPY exposure with short-dated call writing, generally using same-day expirations. These are equity-income strategies with capital risk, not substitutes for money needed for an imminent payment. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
GPIX beta0.8543
TSPY beta0.935
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $6.04B in assets. TSPY is managed by TappAlpha (launched 08/14/2024) with $362M in assets.
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Frequently asked questions
Should I subtract SPY's fee again from TSPY's reported net return?
No. Review the prospectus fee table, including acquired-fund expenses, to understand ownership costs. Reported net fund returns already reflect expenses borne by the portfolio. Do not subtract an underlying fund's fee again or assume a higher distribution compensates for costs or capital losses.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
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