Dividend comparison
GPIQ vs XYLD: 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 - S&P 500 Covered Call ETF, side by side. Updated October 21, 2026.
- Fees. GPIQ is cheaper at 0.35% a year versus 0.60% for XYLD. On $10,000 that is $25 a year less in fees.
- Income. XYLD pays more income, yielding 10.44% over the last twelve months versus 10.27% for GPIQ. That is about $17 more a year on $10,000. Both pay monthly.
- Performance. Over the last 3 years, GPIQ returned 599.0% versus 37.0% for XYLD, with dividends reinvested. $10,000 would have grown to $69,900 in GPIQ and $13,695 in XYLD.
- Risk. GPIQ has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -18.6% for XYLD.
- Diversification. XYLD holds 505 positions and GPIQ holds 107. The ten largest positions make up 47.9% of GPIQ and 39.9% of XYLD.
- Overlap. At least 51% of the two portfolios overlap by weight, across 36 shared holdings.
Bottom line: GPIQ fits better if you care most about lower fees and stronger 3-year returns. XYLD fits better if you care most about smaller drawdowns and broader diversification.
| Metric | GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF | XYLD Global X - S&P 500 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 10.27% | 10.44% |
| Dividend / share (TTM) | $5.77 | $4.32 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.5088 on Oct 7, 2026 | $0.2964 on Sep 24, 2026 |
| Ex-dividend date | Oct 1, 2026 | Oct 19, 2026 |
| Next payment | — | $0.3140 on Oct 22, 2026 |
| Dividend growth (CAGR) | — | 4.8% over 4 yrs |
| Price | $56.13 | $41.40 |
| Dividend growth streak | 1 year | 1 year |
| Beta | 1.16 | 0.41 |
| Max drawdown (5Y) | -100.0% | -18.6% |
| Market cap | $1.19B | $3.41B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.60% |
| Assets under management | $6.37B | $3.38B |
| Number of holdings | 107 | 505 |
| Top 10 concentration | 47.9% | 39.9% |
GPIQ
$85.60/mo
$1027 /yr at 10.27% yield
XYLD
$87.02/mo
$1044 /yr at 10.44% yield
| Year | GPIQ | XYLD |
|---|---|---|
| 2025 | $5.1860 | $5.4603 |
| 2024 | $4.8875 | $3.9372 |
| 2023 | — | $4.2377 |
| 2022 | — | $5.3660 |
| 2021 | — | $4.5310 |
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 XYLD 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 tracks the Cboe S&P 500 BuyWrite Index, holding S&P 500 stocks and writing one-month calls at roughly the current index level. The mechanics match its Nasdaq sibling, but S&P 500 implied volatility is lower, so the premium collected and the resulting distribution are smaller. The same distribution guideline applies, capped at the lower of half the premiums received or 1% of net asset value.
Suits someone who wants the buy-write structure applied to a broader, less concentrated index than the Nasdaq-100. Not appropriate for an account that still needs capital growth, since full at-the-money overwriting caps the market return that funds it.
High current income, capped upside
| Period | GPIQ | XYLD |
|---|---|---|
| 1 month | -1.32% | -0.05% |
| 3 months | 0.27% | 0.61% |
| Year to date | 7.10% | 1.90% |
| 1 year | 7.94% | 5.56% |
| 3 years | 599.00% | 36.95% |
| 5 years | — | 30.19% |
- GPIQ
- XYLD
Both series indexed to 100 on 2023-10-19 using the adjusted closing price series. Past performance does not guarantee future results.
- GPIQ
- XYLD
| Largest shared holdings | GPIQ weight | XYLD weight |
|---|---|---|
| NVDANVIDIA CORPORATION | 8.20% | 8.32% |
| AAPLAPPLE INC. | 7.84% | 7.57% |
| MSFTMICROSOFT CORPORATION | 6.23% | 6.10% |
| AMZNAMAZON.COM INC | 4.36% | 3.88% |
| GOOGLALPHABET INC. | 3.96% | 3.14% |
| AVGOBROADCOM INC. | 2.53% | 2.57% |
| METAMETA PLATFORMS INC-CLASS A | 3.34% | 2.49% |
| GOOGALPHABET INC. | 1.98% | 2.51% |
| MUMICRON TECHNOLOGY, INC. | 4.42% | 1.70% |
| TSLATESLA INC. | 2.95% | 1.62% |
GPIQ107 holdings total
Quick verdict
GPIQ fits better if you care most about lower fees and stronger 3-year returns. XYLD fits better if you care most about smaller drawdowns and broader diversification. 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.