Dividend comparison
GPIQ vs QYLD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Goldman Sachs Nasdaq-100 Premium Income ETF and Global X - Nasdaq 100 Covered Call ETF, side by side. Updated October 21, 2026.
- Fees. GPIQ is cheaper at 0.35% a year versus 0.60% for QYLD. On $10,000 that is $25 a year less in fees.
- Income. QYLD pays more income, yielding 11.66% over the last twelve months versus 10.27% for GPIQ. That is about $138 more a year on $10,000. Both pay monthly.
- Performance. Over the last 3 years, GPIQ returned 599.0% versus 42.7% for QYLD, with dividends reinvested. $10,000 would have grown to $69,900 in GPIQ and $14,270 in QYLD.
- Risk. GPIQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -24.5% for QYLD.
- Diversification. GPIQ holds 107 positions and QYLD holds 102. The ten largest positions make up 47.9% of GPIQ and 48.9% of QYLD.
- Overlap. 94% of the two portfolios overlap by weight, across 90 shared holdings. Owning both adds little diversification.
Bottom line: GPIQ fits better if you care most about lower fees and stronger 3-year returns. QYLD fits better if you care most about more income today and smaller drawdowns. With 94% overlap, most investors would hold one or the other rather than both.
| Metric | GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF | QYLD Global X - Nasdaq 100 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 10.27% | 11.66% |
| Dividend / share (TTM) | $5.77 | $2.13 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.5088 on Oct 7, 2026 | $0.1767 on Sep 24, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 19, 2026 |
| Next payment | — | $0.1830 on Oct 22, 2026 |
| Dividend growth (CAGR) | — | -2.0% over 4 yrs |
| Price | $56.13 | $18.28 |
| Dividend growth streak | 1 year | — |
| Beta | 1.16 | 0.48 |
| Max drawdown (5Y) | -100.0% | -24.5% |
| Market cap | $1.19B | $8.38B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.35% | 0.60% |
| Assets under management | $6.37B | $8.36B |
| Number of holdings | 107 | 102 |
| Top 10 concentration | 47.9% | 48.9% |
GPIQ
$85.60/mo
$1027 /yr at 10.27% yield
QYLD
$97.14/mo
$1166 /yr at 11.66% yield
| Year | GPIQ | QYLD |
|---|---|---|
| 2025 | $5.1860 | $2.3793 |
| 2024 | $4.8875 | $2.1045 |
| 2023 | — | $2.0380 |
| 2022 | — | $2.5261 |
| 2021 | — | $2.5810 |
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 QYLD actually do
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
It follows the Cboe Nasdaq-100 BuyWrite V2 Index: hold the constituents, then write a one-month index call struck at roughly the current level. Writing at the money collects the maximum premium but leaves almost no room to participate when the index rises, so in an up year the fund keeps the premium and forfeits the move. Global X's stated guideline caps the monthly distribution at the lower of half the premiums received or 1% of net asset value, with the excess reinvested.
Suits an investor whose priority is the largest, steadiest monthly payment available from Nasdaq exposure and who does not need the principal to grow. It is a poor long-horizon holding: surrendering nearly all upside on a high-growth index while paying out the premium has historically left the share price grinding lower over full cycles.
Maximum current income, capped upside
| Period | GPIQ | QYLD |
|---|---|---|
| 1 month | -1.32% | -0.49% |
| 3 months | 0.27% | 2.64% |
| Year to date | 7.10% | 3.45% |
| 1 year | 7.94% | 6.96% |
| 3 years | 599.00% | 42.70% |
| 5 years | — | 34.31% |
- GPIQ
- QYLD
Both series indexed to 100 on 2023-10-19 using the adjusted closing price series. Past performance does not guarantee future results.
- GPIQ
- QYLD
| Largest shared holdings | GPIQ weight | QYLD weight |
|---|---|---|
| NVDANVIDIA CORPORATION | 8.20% | 8.55% |
| AAPLAPPLE INC. | 7.84% | 7.80% |
| MSFTMICROSOFT CORPORATION | 6.23% | 6.30% |
| MUMICRON TECHNOLOGY, INC. | 4.42% | 4.83% |
| AMZNAMAZON.COM INC | 4.36% | 4.39% |
| AMDADVANCED MICRO DEVICES INC. | 3.82% | 4.20% |
| METAMETA PLATFORMS INC-CLASS A | 3.34% | 3.46% |
| GOOGLALPHABET INC. | 3.96% | 3.25% |
| TSLATESLA INC. | 2.95% | 3.11% |
| SPCXSPACE EXPLORATION TECHNOLOGIES CORP. | 2.74% | 3.03% |
GPIQ107 holdings total
Quick verdict
GPIQ fits better if you care most about lower fees and stronger 3-year returns. QYLD fits better if you care most about more income today and smaller drawdowns. With 94% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.