GPIX actively manages a stock portfolio with characteristics similar to the S&P 500 and sells calls with benchmark exposure. VOO tracks the S&P 500 without that call overlay. Similar benchmark exposure does not make their holdings, weights, or risk identical.
Data updated September 4, 2026
Best for
GPIXInvestors who want active equity income and accept forgone upside and variable payments.
VOOInvestors who want S&P 500 exposure without a fund-level option-income overlay.
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 20.31% total return against 21.07%. The picture flips over 3 years, though — GPIX has compounded at 23.24% a year, ahead of VOO at 21.29%. 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 September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer 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 trailing 3 years. 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 trailing 3 years) — 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.
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 performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Bottom lineChoose GPIX if you want active equity income and accept forgone upside and variable payments. Choose VOO if you want S&P 500 exposure without a fund-level option-income overlay. GPIX seeks cash distributions while giving up some potential gains. VOO retains benchmark upside and downside without an income overlay. Check combined holdings rather than assuming overlap means identical exposure.
Active equity income versus S&P 500 index tracking
GPIX actively manages a stock portfolio with characteristics similar to the S&P 500 and sells calls with benchmark exposure. VOO tracks the S&P 500 without that call overlay. Similar benchmark exposure does not make their holdings, weights, or risk identical.
GPIX
VOO
Approach
Active equities and dynamic call overwrite
S&P 500 index tracking
Risk review
Equity losses, option obligations, and manager discretion
U.S. large-cap equity and market-cap concentration
Expense ratio
0.29%
0.03%
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 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.
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.
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.
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 8.51% 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 have different reference exposures: GPIX is linked to S&P 500 while VOO is linked to S&P 500 Index, which means their performance drivers differ.
VOO is the larger fund by assets ($1041B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, GPIX would generate roughly $70.92/month, while VOO would produce $9.25/month, at current distribution rates.
GPIX yield8.51%
VOO yield1.11%
Monthly diff on $10K$61.67
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 actively manages a stock portfolio with characteristics similar to the S&P 500 and sells calls with benchmark exposure. VOO tracks the S&P 500 without that call overlay. Similar benchmark exposure does not make their holdings, weights, or risk identical. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
GPIX beta0.8543
VOO beta1.0
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $5.69B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets.
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Frequently asked questions
Can GPIX's call strategy cause my ETF shares to be called away?
The fund's option obligations affect its portfolio, not ownership of your GPIX shares. Selling your own options is a separate transaction. GPIX's call coverage can change; historical beta is not a direct measure of the percentage of future gains it will retain. Distribution rates are not total returns or promised income. Tax return of capital alone does not establish an economic loss; review net total returns, NAV changes, distribution notices, and final tax reporting together.
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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