A head-to-head comparison of Goldman Sachs S&P 500 Premium Income ETF and Roundhill S&P 500 0DTE Covered Call Strategy ETF covering yield, cost, risk, and income potential.
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 XDTE over the trailing twelve months, posting a 17.54% total return against 16.50%. Measured from Mar 2024 — the start of shared available history — GPIX has compounded at 17.59% a year versus 16.47% for XDTE. 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 Mar 2024” measures every fund from March 7, 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 return of capital
Metric
GPIX
XDTE
Forward distribution rate
8.48%
14.99%
Trailing 12-month yield
8.17%
30.46%
Return of capital
—
100.00%
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income.
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.
Seeks weekly income through a covered call strategy that combines a long position in the S&P 500 Index with short zero-days-to-expiration (0DTE) call options on the index.
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 14.99%, generated by selling options premium. GPIX and XDTE both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped 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 and XDTE 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.
Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.
See our curated list of related YouTube videos on XDTE.
GPIX (Goldman Sachs S&P 500 Premium Income ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both dividend ETFs, but they take different approaches.
XDTE offers the higher yield at 14.99% 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 0.97%.
GPIX is the larger fund by assets ($6.04B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose GPIX
Goldman Sachs S&P 500 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 0.97% for XDTE.
Choose XDTE
Roundhill S&P 500 0DTE Covered Call Strategy ETF
Want to maximize current income — XDTE distributes roughly 14.99% from selling options premium, vs 8.48% 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.
Still deciding? Track GPIX & XDTE for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, GPIX would generate roughly $70.67 cash per distribution, while XDTE would produce $28.83 cash per distribution, at current distribution rates.
GPIX yield8.48%
XDTE yield14.99%
Cash diff on $10K$41.84
Cost & efficiency
Over 10 years on $10,000, GPIX would cost approximately $290 in fees vs $970 for XDTE (simplified, not compounded). The $680.00 difference may be offset by yield or performance.
GPIX ER0.29%
XDTE ER0.97%
Strategy & risk
Both GPIX and XDTE wrap SPX with options-based income overlays (covered call 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, making GPIX the less volatile of the two by this measure.
GPIX beta0.8543
XDTE beta0.91
Fund details
GPIX is managed by Goldman Sachs (launched 10/24/2023) with $6.04B in assets. XDTE is managed by Roundhill Investments (launched 03/07/2024) with $339M in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
What is the current distribution rate for GPIX and XDTE?
GPIX currently distributes 8.48% and XDTE 14.99%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
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 Premium Income ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) track SPX with options-based income strategies — the labels "covered call" and "covered call" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (8.48% vs 14.99%), expense ratio (0.29% vs 0.97%), 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.
Is GPIX or XDTE safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — GPIX scores 84, XDTE scores 72, so GPIX'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 XDTE?
GPIX has an expense ratio of 0.29% while XDTE charges 0.97%. 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 $70.67 cash per distribution ($848.00 annually). The same in XDTE would produce about $28.83 cash per distribution ($1,499.00 annually).
Which has performed better historically, GPIX or XDTE?
GPIX has outpaced XDTE over the trailing twelve months, posting a 17.54% total return against 16.50%. Measured from Mar 2024 — the start of shared available history — GPIX has compounded at 17.59% a year versus 16.47% for XDTE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
This structural choice drives a roughly 6.5-percentage-point gap in distribution yield and shapes the risk and turnover profile of each fund. Both track the S&P 500 with similar beta—GPIX at 0.8543 and XDTE at 0.91—meaning downside capture is comparable, but XDTE's higher yield floor creates greater NAV erosion risk in a flat or declining market.
Who each is best for
GPIX: Fits investors seeking meaningful S&P 500 income (8–9% annually) without extreme turnover or complexity—those comfortable with monthly distributions and monthly call expirations, and willing to accept lower yield in exchange for simpler mechanics and lower fees.
XDTE: Fits investors with a high income focus who can tolerate weekly rebalancing, elevated expense drag, and the potential for faster NAV decline if the market stalls—those pursuing current cash flow over buy-and-hold appreciation and comfortable with the operational overhead of weekly option rolls.
0DTE gamma and volatility sensitivity.XDTE's zero-days-to-expiration calls expire and roll every week, meaning the fund is exposed to gamma risk (large daily P&L swings near expiration) and must continually chase volatility premiums. In a sharply rising market or during a volatility collapse, weekly rolls may capture less premium than expected. Rapid inflows into a small fund can also dilute existing shareholders if the fund cannot efficiently deploy capital.
Options assignment and capped upside. Both funds cap equity gains if the underlying calls finish in-the-money.
Bottom line
If you prioritize a modest yet sustainable income stream with low fees and simpler mechanics, GPIX's monthly approach and 0.29% expense ratio stand out. If you're chasing maximum current yield and can tolerate weekly option rolls, faster NAV decay, and 0.97% in annual costs, XDTE offers that higher payout—though at the cost of greater downside in sideways markets. Past performance does not guarantee future results; compare your income needs and market outlook before committing capital to either strategy.
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.
Still deciding? Compare them against your own portfolio
See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.
