Dividend comparison

GPIQ vs RYLD: 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 - Russell 2000 Covered Call ETF, side by side. Updated October 21, 2026.

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GPIQ vs RYLD: key differences
The short answer, from the latest data on this page.
  • Fees. GPIQ is cheaper at 0.35% a year versus 0.60% for RYLD. On $10,000 that is $25 a year less in fees.
  • Income. RYLD pays more income, yielding 12.32% over the last twelve months versus 10.27% for GPIQ. That is about $205 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 3 years, GPIQ returned 599.0% versus 21.3% for RYLD, with dividends reinvested. $10,000 would have grown to $69,900 in GPIQ and $12,133 in RYLD.
  • Risk. GPIQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -21.5% for RYLD.
  • Diversification. GPIQ holds 107 positions and RYLD holds 8. The ten largest positions make up 47.9% of GPIQ and 100.0% of RYLD.
  • Overlap. GPIQ and RYLD share no holdings, so they behave as separate building blocks.
  • Size. GPIQ is the larger fund with $6.4 billion in assets, against $1.3 billion for RYLD.

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

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
RYLD
Global X - Russell 2000 Covered Call ETF
Dividend yield (TTM)10.27%12.32%
Dividend / share (TTM)$5.77$1.87
Payout frequencyMonthlyMonthly
Last dividend$0.5088 on Oct 7, 2026$0.1475 on Sep 24, 2026
Ex-dividend dateOct 1, 2026Oct 19, 2026
Next payment—$0.1480 on Oct 22, 2026
Dividend growth (CAGR)—-9.1% over 4 yrs
Price$56.13$15.19
Dividend growth streak1 year—
Beta1.160.54
Max drawdown (5Y)-100.0%-21.5%
Market cap$1.19B$1.29B
ExchangeNASDAQAMEX
Expense ratio0.35%0.60%
Assets under management$6.37B$1.29B
Number of holdings1078
Top 10 concentration47.9%100.0%
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

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

Dividend history
Total dividends paid per share in each calendar year. GPIQ pays monthly; RYLD pays monthly.
YearGPIQRYLD
2025$5.1860$2.0022
2024$4.8875$1.9660
2023—$2.1365
2022—$2.6570
2021—$2.9360
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 RYLD 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 $12,027 in RYLD.
PeriodGPIQRYLD
1 month-1.32%-2.57%
3 months0.27%-6.00%
Year to date7.10%-0.72%
1 year7.94%-0.20%
3 years599.00%21.33%
5 years—-1.11%
  • GPIQ
  • RYLD
474197912023202420252026699120

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
  • RYLD
0%15%30%46%61%Technology60.7%13.9%Healthcare3.8%20.1%Consumer Cyclical9.9%9.0%Financial Services0.1%18.4%Industrials5.1%13.2%Communication Services12.6%2.3%Consumer Defensive5.5%2.8%Energy0.5%6.7%Real Estate0.1%6.5%Basic Materials0.9%4.3%Other1.4%2.9%
GPIQ vs RYLD holdings overlap
0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
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%

RYLD8 holdings total

NameWeight
RSSLGLOBAL X RUSSELL 2000 ETF100.03%
RAINRAIN ONCOLOGY INC0.00%

Quick verdict

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

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Frequently asked questions

Is GPIQ or RYLD better for dividend income?
It depends on your goals. GPIQ currently yields 10.27% Trailing Twelve Months (TTM) while RYLD yields 12.32%. 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 RYLD?
Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) is an ETF listed on NASDAQ. Global X - Russell 2000 Covered Call ETF (RYLD) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, GPIQ or RYLD?
GPIQ has the lower expense ratio. GPIQ charges 0.35% a year and RYLD charges 0.60%, a difference of $25 a year on a $10,000 investment.
Which has performed better, GPIQ or RYLD?
Over the last 3 years, GPIQ has the higher total return with dividends reinvested: GPIQ returned 599.0% and RYLD returned 21.3%. Past performance does not predict future returns.
Which is riskier, GPIQ or RYLD?
Measured by the worst peak-to-trough decline over the last five years, GPIQ has been riskier: GPIQ fell as much as 100.0% and RYLD as much as 21.5%. Their betas are 1.16 and 0.54.
How often do GPIQ and RYLD pay dividends?
Both pay monthly. The most recent payments were $0.5088 for GPIQ and $0.1475 for RYLD.
How much income does $10,000 in GPIQ vs RYLD generate?
At current TTM yields, $10,000 in GPIQ would generate roughly $85.60 per month ($1027 annually). The same amount in RYLD would produce about $102.65 per month ($1232 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both GPIQ and RYLD?
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 RYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GPIQ and RYLD 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.

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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.