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ETF Comparison

GPIX vs VOO: Monthly Income or Maximum Growth?

A head-to-head comparison of the Goldman Sachs S&P 500 Core Premium Income ETF and Vanguard's S&P 500 ETF covering distributions, total return, cost, and the trade-off between them.

Data updated August 19, 2026

Best for

  • GPIXInvestors who want to maximize current income — roughly 8.38%, generated by selling options premium.
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

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

GPIX has lagged VOO over the trailing twelve months, posting a 20.21% total return against 20.95%. Measured from Oct 2023 — when the younger fund began trading — VOO has compounded at 26.38% a year versus 23.48% for GPIX. 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
GPIX12.49%20.21%23.48%11.1%1.261.82-7.7%
VOO13.20%20.95%26.38%12.8%1.141.64-8.9%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGPIXVOO
Full nameGoldman Sachs S&P 500 Core Premium Income ETFVanguard S&P 500 ETF
IssuerGoldman SachsVanguard
Last Close$56.11 as of August 19, 2026$705.40 as of August 19, 2026
Distribution yield8.38%1.11%
Distribution Safety Score™ 84100
Expense ratio0.29%0.03%
AUM$5.46B$1045B
Distribution frequencyMonthlyQuarterly
Underlying indexSPXS&P 500 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.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date10/24/202309/07/2010
Beta0.85431.0
Last dividend$0.3916$1.9622
Ex-dividend date08/03/202606/26/2026

Bottom lineChoose GPIX if you want to maximize current income — roughly 8.38%, generated by selling options premium. Choose VOO 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 VOO 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$66.8B

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
Vanguard
ETFs116
Total AUM$4703B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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Quick verdict

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

GPIX offers the higher yield at 8.38% vs 1.11% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.29%.

They track different benchmarks: GPIX is linked to SPX while VOO tracks S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1045B), 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 8.38% from selling options premium, vs 1.11% for VOO.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Choose VOO

Vanguard S&P 500 ETF

  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% 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 $69.83/month, while VOO would produce $9.25/month, at current distribution rates.

GPIX yield8.38%
VOO yield1.11%
Monthly diff on $10K$60.58

Cost & efficiency

Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $30 for VOO (simplified, not compounded). The $260.00 difference may be offset by yield or performance.

GPIX ER0.29%
VOO ER0.03%

Strategy & risk

GPIX tracks SPX with a covered call approach, while VOO tracks S&P 500 Index with a large cap approach. Beta is 0.8543 for GPIX and 1.0 for VOO, making GPIX the less volatile of the two by this measure.

GPIX beta0.8543
VOO beta1.0

Fund details

GPIX is managed by Goldman Sachs (launched 10/24/2023) with $5.46B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1045B in assets.

GPIX AUM$5.46B
VOO AUM$1045B
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Frequently asked questions

What is the current distribution yield for GPIX and VOO?

GPIX currently distributes 8.38% and VOO 1.11%, 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 VOO 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 VOO?

GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) tracks SPX with a covered call approach, while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by Goldman Sachs and Vanguard respectively.

Can I hold both GPIX and VOO?

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 VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, GPIX scores 84, so VOO's payout currently looks the more resilient of the two. 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 VOO?

GPIX has an expense ratio of 0.29% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIX would generate roughly $69.83 per month ($838.00 annually). The same in VOO would produce about $9.25 per month ($111.00 annually).

Which has performed better historically, GPIX or VOO?

GPIX has lagged VOO over the trailing twelve months, posting a 20.21% total return against 20.95%. Measured from Oct 2023 — when the younger fund began trading — VOO has compounded at 26.38% a year versus 23.48% for GPIX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIX vs VOO — at a glance

Generated August 15, 2026.

Overview

Both GPIX and VOO track the S&P 500 and invest in 500 large-cap U.S. companies, but they pursue fundamentally different strategies. VOO is a straight index tracker designed to match the S&P 500's return. GPIX overlays a covered-call strategy on the same index, selling call options on its holdings to generate monthly income while accepting reduced upside capture in exchange.

How they differ

The core difference is strategy: VOO replicates the index passively, while GPIX actively sells covered calls to generate its 8.30% distribution rate versus VOO's 1.10%. This shows up in beta immediately — GPIX's 0.8543 versus VOO's 1.0 reflects the call sales capping gains on rallies. GPIX charges 0.29% in expenses versus VOO's 0.03%, reflecting the operational complexity of options management. VOO has $1032B in AUM and a 14-year track record; GPIX has $5.36B since October 2023, making it far newer. The monthly distributions in GPIX contrast with VOO's quarterly cadence, appealing to different income-timing preferences.

Who each is best for

VOO: Fits investors seeking S&P 500 exposure with minimal drag, long-term capital appreciation as the primary goal, and comfort with a modest 1.10% yield. Works for those who prefer simplicity and the lowest possible cost.

GPIX: Fits investors who prioritize current monthly income, have a lower risk tolerance for market swings (reflected in its 0.8543 beta), and are willing to trade capped upside capture for enhanced distributions. Designed for income-focused allocations where call-premium harvesting aligns with cash-flow needs.

Key risks to know

  • Call cap on gains: When the market rallies sharply, GPIX's covered calls are likely to be exercised, capping total returns and forcing the fund to sell appreciated positions. Investors forgo the upside while retaining downside exposure.
  • NAV erosion at high distribution rates: GPIX's 8.30% yield exceeds typical S&P 500 earnings growth and dividend payouts. Sustaining this rate without eroding net asset value requires continuous new premium from call sales; if implied volatility falls or market returns disappoint, distributions may be forced to include return of capital.
  • Counterparty and assignment risk: Covered-call strategies depend on call counterparties and the mechanics of exercise and position management. Assignment timing and re-entry prices can create tax drag and rebalancing friction not present in a passive fund.
  • Limited track record: GPIX's inception date of October 2023 means it has less than one year of live performance. Its 8.30% distribution rate has been tested only in a narrow market window; its sustainability and downside resilience in prolonged volatility are unproven.
  • Beta mismatch in diversified portfolios: GPIX's 0.8543 beta means it behaves differently than the broader market. If held alongside other S&P 500 exposure, the combined position may not deliver expected index-aligned performance.

Bottom line

VOO is for buy-and-hold investors who want pure index exposure at minimal cost; GPIX is for those prioritizing monthly income and accepting reduced upside in exchange. The choice hinges on whether your priority is capital appreciation with the lowest drag or enhanced current income with capped total returns. Past performance 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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