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ETF Comparison

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

A head-to-head comparison of Goldman Sachs S&P 500 Core Premium Income ETF and Roundhill ETF Trust - Roundhill S&P 500 0DTE Covered Call covering yield, cost, risk, and income potential.

Data updated July 8, 2026

Goldman Sachs
ETFs48
Total AUM$64.8B

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
Roundhill Investments
ETFs55
Total AUM$28.0B

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

Roundhill Investments is known for offering specialized ETFs that focus on income generation and thematic investing strategies. The firm operates 42 funds across five distinct families—Core, HALO, Income, Thematic, and WeeklyPay—with a particular emphasis on covered call strategies and weekly distribution products designed to generate regular cash flows. Notable offerings include ticker symbols like AAPW, AMDW, and AMZW (which employ covered call strategies on major technology stocks), along with thematic funds covering areas such as artificial intelligence (CHAT), cryptocurrency mining (DRAM), and other innovative sectors.

See our curated list of related YouTube videos on XDTE.

See all Roundhill Investments ETFs

Side-by-side snapshot

GPIXXDTE
Full nameGoldman Sachs S&P 500 Core Premium Income ETFRoundhill ETF Trust - Roundhill S&P 500 0DTE Covered Call
IssuerGoldman SachsRoundhill Investments
Last Close$55.25 as of July 8, 2026$39.01 as of July 8, 2026
Distribution yield8.55%24.67%
Distribution Safety Score 9884
Expense ratio0.29%0.95%
AUM$4.40B$317M
Distribution frequencyMonthlyWeekly
Underlying indexSPXSPX
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.Covered Call
Asset classEquityEquity
Inception date10/24/202308/15/2024
Beta0.85430.91
Last dividend$0.3937$0.1851
Ex-dividend date07/01/202607/09/2026

Bottom lineChoose GPIX if you are comfortable trading away most upside for a large, steady payout. Choose XDTE if you want to maximize current income — roughly 24.67%, generated by selling options premium. There's no free lunch: XDTE's payout comes from selling options, which caps upside and can erode the share price over time, while GPIX keeps full price exposure.

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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 outpaced XDTE over the trailing twelve months, posting a 19.50% total return against 18.51%. Measured from Mar 2024 — when the younger fund began trading — GPIX has compounded at 16.83% a year versus 15.55% for XDTE. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1YSince Mar 2024Volatility Sharpe Sortino Max drawdown
GPIX8.20%19.50%16.83%11.0%1.231.76-7.7%
XDTE6.63%18.51%15.55%11.7%1.081.51-7.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 7, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Mar 2024” measures every fund from March 7, 2024 — 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 XDTE (Roundhill ETF Trust - Roundhill S&P 500 0DTE Covered Call) are both dividend ETFs, but they take different approaches.

XDTE offers the higher yield at 24.67% vs 8.55% 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 0.95%.

GPIX is the larger fund by assets ($4.40B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose GPIX

Goldman Sachs S&P 500 Core Premium Income ETF

  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Want to keep costs low — a 0.29% expense ratio vs 0.95% for XDTE.

Choose XDTE

Roundhill ETF Trust - Roundhill S&P 500 0DTE Covered Call

  • Want to maximize current income — XDTE distributes roughly 24.67% from selling options premium, vs 8.55% for GPIX.
  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

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 $71.25/month, while XDTE would produce $205.58/month, at current distribution rates.

GPIX yield8.55%
XDTE yield24.67%
Monthly diff on $10K$134.33

Cost & efficiency

Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $950 for XDTE (simplified, not compounded). The $660.00 difference may be offset by yield or performance.

GPIX ER0.29%
XDTE ER0.95%

Strategy & risk

Both GPIX and XDTE wrap SPX with options-based income overlays (s&p500 and covered call). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 0.8543 for GPIX and 0.91 for XDTE, indicating GPIX is less volatile relative to the market.

GPIX beta0.8543
XDTE beta0.91

Fund details

GPIX is managed by Goldman Sachs (launched 10/24/2023) with $4.40B in assets. XDTE is managed by Roundhill Investments (launched 08/15/2024) with $317M in assets.

GPIX AUM$4.40B
XDTE AUM$317M
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Frequently asked questions

Is GPIX or XDTE better for dividend income?

It depends on your goals. XDTE 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 XDTE?

Both GPIX (Goldman Sachs S&P 500 Core Premium Income ETF) and XDTE (Roundhill ETF Trust - Roundhill S&P 500 0DTE Covered Call) track SPX with options-based income strategies — the labels "s&p500" and "covered call" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (8.55% vs 24.67%), expense ratio (0.29% vs 0.95%), and issuer (Goldman Sachs vs Roundhill Investments).

Can I hold both GPIX and XDTE?

You can, but expect significant overlap. Both funds use options-based income strategies on SPX, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Which has lower fees, GPIX or XDTE?

GPIX has an expense ratio of 0.29% while XDTE charges 0.95%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in GPIX would generate roughly $71.25 per month ($855.00 annually). The same in XDTE would produce about $205.58 per month ($2,467.00 annually).

Which has performed better historically, GPIX or XDTE?

GPIX has outpaced XDTE over the trailing twelve months, posting a 19.50% total return against 18.51%. Measured from Mar 2024 — when the younger fund began trading — GPIX has compounded at 16.83% a year versus 15.55% for XDTE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIX vs XDTE — at a glance

Generated July 2026 from current fund data.

Overview

Both GPIX and XDTE are S&P 500 equity ETFs that generate income through covered call strategies, but they differ sharply in execution frequency and yield structure. GPIX sells monthly call options on a core S&P 500 holding, targeting an 8.58% distribution rate. XDTE rolls 0-day-to-expiration (0DTE) calls weekly, pushing its distribution rate to 24.76%. The difference reflects not just option strike selection and rollover cadence, but fundamentally different assumptions about how often an investor can profitably sell volatility against large-cap equities.

How they differ

The single biggest difference is option expiration frequency: GPIX uses standard monthly calls, while XDTE rolls 0DTE options every week. That gap cascades into yield—XDTE's 24.76% annualized distribution rate versus GPIX's 8.58%—because shorter-dated options command higher time-decay premiums but also compound rollover friction and slippage risk across 52 rolling windows per year instead of 12.

Second, XDTE's expense ratio is 0.95% compared to GPIX's 0.29%, reflecting the operational overhead of weekly call management and the likely drag of frequent rolling. XDTE also carries a much smaller asset base at $317M versus GPIX's $4.40B, which can amplify trading costs and widening spreads during market stress.

Third, both funds dampen equity beta slightly (GPIX at 0.8543, XDTE at 0.91), but XDTE's higher yield and weekly rollover create compounding NAV pressure if the S&P 500 rallies sharply—call strikes get breached more often, capping upside—while GPIX's monthly cadence allows longer stretches of uninterrupted capital appreciation.

Who each is best for

GPIX: Fits investors seeking meaningful current income (8–9% annually) from large-cap exposure without abandoning a meaningful chance at capital appreciation, and who can tolerate the muted beta that comes with giving up some upside in exchange for call premium.

XDTE: Designed for traders comfortable with extreme yield concentration and weekly volatility, who actively monitor their position and prioritize income extraction over capital growth, and who can absorb rapid NAV compression if markets move sharply higher.

Key risks to know

  • NAV erosion risk. XDTE's 24.76% distribution yield is more than 3x S&P 500 historical earnings yield; sustaining it via call premium alone implies ongoing NAV decay or heavy reliance on return-of-capital distributions that reduce your cost basis.
  • 0DTE rollover slippage. XDTE's weekly option rolls expose it to intraday price gaps, bid-ask spread widening, and the cumulative cost of executing 52 rolls annually. A single wide week could erase months of premium collection.
  • Call strike assignment and upside capping. Both funds cap gains if the S&P 500 rallies above strike, but XDTE's higher yield requires tighter (lower) strikes, increasing the odds of early assignment and locking you out of sustained bull markets.
  • Concentration in large-cap beta. Both funds hold at least 80% in S&P 500 constituents; neither provides diversification outside U.S. large-cap growth. A sharp downturn in that space affects both simultaneously.
  • Beta dampening in sideways or down markets. GPIX's 0.8543 beta means it underperforms in rallies. XDTE's 0.91 beta is closer to the index, but its yield structure punishes flat or negative markets through rapid principal decay.

Bottom line

GPIX offers a sustainable middle ground: meaningful income (8.58%) with lower fees (0.29%) and enough monthly flexibility to capture some upside in rising markets. XDTE chases maximum current yield (24.76%) through weekly rolling, trading operational complexity, higher fees (0.95%), and NAV erosion risk for that premium extraction. If you value income stability and long-term capital preservation, GPIX's structure aligns better; if you're actively trading high-frequency volatility and can stomach weekly NAV fluctuations, XDTE's yield may be worth the friction. Past performance does not guarantee future results, and both strategies face structural pressure if the S&P 500 enters a sustained rally or recession.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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