Dividend comparison

GPIQ vs FEPI: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Goldman Sachs Nasdaq-100 Premium Income ETF and REX FANG & Innovation Equity Premium Income ETF, side by side. Updated October 21, 2026.

Start freeOpen interactive compareSee pricing
GPIQ vs FEPI: key differences
The short answer, from the latest data on this page.
  • Fees. GPIQ is cheaper at 0.35% a year versus 0.65% for FEPI. On $10,000 that is $30 a year less in fees.
  • Income. FEPI pays more income, yielding 26.40% over the last twelve months versus 10.27% for GPIQ. That is about $1,613 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 3 years, GPIQ returned 599.0% versus 40.7% for FEPI, with dividends reinvested. $10,000 would have grown to $69,900 in GPIQ and $14,073 in FEPI.
  • Risk. Their worst declines over the last 3 years were similar: -100.0% for GPIQ and -100.0% for FEPI from peak to trough.
  • Diversification. GPIQ holds 107 positions and FEPI holds 50. The ten largest positions make up 47.9% of GPIQ and 66.7% of FEPI.
  • Overlap. 51% of the two portfolios overlap by weight, across 14 shared holdings.
  • Size. GPIQ is the larger fund with $6.4 billion in assets, against $726 million for FEPI.

Bottom line: GPIQ fits better if you care most about lower fees, stronger 3-year returns and broader diversification. FEPI fits better if you care most about more income today.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricGPIQ
Goldman Sachs Nasdaq-100 Premium Income ETF
FEPI
REX FANG & Innovation Equity Premium Income ETF
Dividend yield (TTM)10.27%26.40%
Dividend / share (TTM)$5.77$10.94
Payout frequencyMonthlyMonthly
Last dividend$0.5088 on Oct 7, 2026$0.2094 on Oct 15, 2026
Ex-dividend dateOct 1, 2026Oct 14, 2026
Price$56.13$41.43
Dividend growth streak1 year—
Beta1.161.09
Max drawdown (5Y)-100.0%-100.0%
Market cap$1.19B$715.1M
ExchangeNASDAQNASDAQ
Expense ratio0.35%0.65%
Assets under management$6.37B$725.7M
Number of holdings10750
Top 10 concentration47.9%66.7%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

GPIQ

$85.60/mo

$1027 /yr at 10.27% yield

FEPI

$219.98/mo

$2640 /yr at 26.40% yield

Dividend history
Total dividends paid per share in each calendar year. GPIQ pays monthly; FEPI pays monthly.
YearGPIQFEPI
2025$5.1860$11.6079
2024$4.8875$13.4931
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.

What GPIQ vs FEPI actually do

GPIQ
Goldman Sachs's actively managed Nasdaq-100 income ETF, pairing the index with a variable call overlay.

Rather than overwriting the whole portfolio every month, the manager sells calls against roughly 25% to 75% of the equity exposure and adjusts that share with market conditions. Leaving part of the book uncovered is the deliberate design choice: it produces a smaller distribution than a full overwrite but keeps more of a rally. Fees sit well below most options-income peers, which matters over time in a category where the overlay already caps returns.

Suits an investor who wants Nasdaq-100 income but is not willing to give up the whole upside to get the highest headline yield. Less suitable for someone comparing purely on distribution rate, since a partial overwrite by design pays less than a full one.

Balanced income and growth

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 19, 2023 would now be worth $69,900 in GPIQ and $13,898 in FEPI.
PeriodGPIQFEPI
1 month-1.32%-2.95%
3 months0.27%1.94%
Year to date7.10%-9.05%
1 year7.94%-9.97%
3 years599.00%40.73%
5 years——
  • GPIQ
  • FEPI
464187912023202420252026699139

Both series indexed to 100 on 2023-10-19 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • GPIQ
  • FEPI
0%17%34%51%68%Technology60.7%67.5%Communication Services12.6%19.3%Consumer Cyclical9.9%13.2%Consumer Defensive5.5%Industrials5.1%Healthcare3.8%Basic Materials0.9%Utilities0.9%Cash & Others0.5%0.0%Energy0.5%Other0.2%
GPIQ vs FEPI holdings overlap
51% overlap by weight, with 14 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsGPIQ weightFEPI weight
AAPLAPPLE INC.7.84%6.87%
NVDANVIDIA CORPORATION8.20%6.54%
MSFTMICROSOFT CORPORATION6.23%6.69%
MUMICRON TECHNOLOGY, INC.4.42%6.60%
AMZNAMAZON.COM INC4.36%6.94%
GOOGLALPHABET INC.3.96%6.66%
AMDADVANCED MICRO DEVICES INC.3.82%6.17%
METAMETA PLATFORMS INC-CLASS A3.34%6.33%
TSLATESLA INC.2.95%6.75%
AVGOBROADCOM INC.2.53%6.42%
Top 10 holdings
Largest positions by portfolio weight.

GPIQ107 holdings total

NameWeight
NVDANVIDIA CORPORATION8.20%
AAPLAPPLE INC.7.84%
MSFTMICROSOFT CORPORATION6.23%
MUMICRON TECHNOLOGY, INC.4.42%
AMZNAMAZON.COM INC4.36%
GOOGLALPHABET INC.3.96%
AMDADVANCED MICRO DEVICES INC.3.82%
METAMETA PLATFORMS INC-CLASS A3.34%
TSLATESLA INC.2.95%
SPCXSPACE EXPLORATION TECHNOLOGIES CORP.2.74%

FEPI50 holdings total

NameWeight
AMZNAMAZON.COM INC6.94%
AAPLAPPLE INC6.87%
NFLXNETFLIX INC6.76%
TSLATesla Inc.6.75%
MSFTMICROSOFT CORP6.69%
GOOGLALPHABET INC-CL A6.66%
MUMICRON TECHNOLOGY INC6.60%
NVDANVIDIA CORP6.54%
SNDKSANDISK CORP/DE SNDKV6.50%
AVGOBroadcom Inc.6.42%

Quick verdict

GPIQ fits better if you care most about lower fees, stronger 3-year returns and broader diversification. FEPI fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how GPIQ vs FEPI fits with the rest of your holdings. Free to start — no credit card required for the trial.
Start freeInteractive DRIP compare

Frequently asked questions

Is GPIQ or FEPI better for dividend income?
It depends on your goals. GPIQ currently yields 10.27% Trailing Twelve Months (TTM) while FEPI yields 26.40%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between GPIQ and FEPI?
Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) is an ETF listed on NASDAQ. REX FANG & Innovation Equity Premium Income ETF (FEPI) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, GPIQ or FEPI?
GPIQ has the lower expense ratio. GPIQ charges 0.35% a year and FEPI charges 0.65%, a difference of $30 a year on a $10,000 investment.
Which has performed better, GPIQ or FEPI?
Over the last 3 years, GPIQ has the higher total return with dividends reinvested: GPIQ returned 599.0% and FEPI returned 40.7%. Past performance does not predict future returns.
Which is riskier, GPIQ or FEPI?
Measured by the worst peak-to-trough decline over the last five years, FEPI has been riskier: GPIQ fell as much as 100.0% and FEPI as much as 100.0%. Their betas are 1.16 and 1.09.
How much do GPIQ and FEPI overlap?
About 51% of the two portfolios overlap by weight, across 14 shared holdings. The largest shared positions are AAPL, NVDA, MSFT. Holding both still adds meaningful diversification.
How often do GPIQ and FEPI pay dividends?
Both pay monthly. The most recent payments were $0.5088 for GPIQ and $0.2094 for FEPI.
How much income does $10,000 in GPIQ vs FEPI generate?
At current TTM yields, $10,000 in GPIQ would generate roughly $85.60 per month ($1027 annually). The same amount in FEPI would produce about $219.98 per month ($2640 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both GPIQ and FEPI?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare GPIQ vs FEPI with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GPIQ and FEPI fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

Related comparisons

For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.