Dividend comparison

GPIX vs DIVO: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Goldman Sachs S&P 500 Premium Income ETF and Amplify CWP Enhanced Dividend Income ETF, side by side. Updated October 21, 2026.

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GPIX vs DIVO: key differences
The short answer, from the latest data on this page.
  • Fees. GPIX is cheaper at 0.35% a year versus 0.56% for DIVO. On $10,000 that is $21 a year less in fees.
  • Income. GPIX pays more income, yielding 8.20% over the last twelve months versus 6.28% for DIVO. That is about $191 more a year on $10,000. GPIX pays monthly, DIVO pays quarterly.
  • Performance. Over the last 3 years, GPIX returned 567.8% versus 54.5% for DIVO, with dividends reinvested. $10,000 would have grown to $66,778 in GPIX and $15,445 in DIVO.
  • Risk. GPIX has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -13.7% for DIVO.
  • Diversification. GPIX holds 488 positions and DIVO holds 30.

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

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricGPIX
Goldman Sachs S&P 500 Premium Income ETF
DIVO
Amplify CWP Enhanced Dividend Income ETF
Dividend yield (TTM)8.20%6.28%
Dividend / share (TTM)$4.59$3.02
Payout frequencyMonthlyQuarterly
Last dividend$0.3970 on Oct 7, 2026$0.1890 on Sep 30, 2026
Ex-dividend dateOct 1, 2026Sep 29, 2026
Dividend growth (CAGR)—11.9% over 4 yrs
Price$55.96$48.02
Dividend growth streak1 year3 years
Beta0.840.56
Max drawdown (5Y)-100.0%-13.7%
Market cap$1.16B$8.01B
ExchangeNASDAQAMEX
Expense ratio0.35%0.56%
Assets under management$6.24B$7.99B
Number of holdings48830
Top 10 concentration39.4%—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

GPIX

$68.30/mo

$820 /yr at 8.20% yield

DIVO

$52.35/mo

$628 /yr at 6.28% yield

Dividend history
Total dividends paid per share in each calendar year. GPIX pays monthly; DIVO pays quarterly.
YearGPIXDIVO
2025$4.2301$2.8660
2024$3.9993$1.9013
2023—$1.7085
2022—$1.7074
2021—$1.8280
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 GPIX vs DIVO actually do

GPIX
The S&P 500 sibling of Goldman Sachs's premium income range, holding large-cap US equity with a dynamic call-writing overlay.

The fund writes calls on a varying portion of the portfolio rather than a fixed slice, so the manager can lean into premium when volatility is rich and pull back when it is not. Because the underlying index is broader and less volatile than the Nasdaq-100, the premium collected is lower and the distribution is smaller than the technology-focused version. Like its sibling, it is priced far closer to a plain index fund than to a typical derivative-income product.

Suits an investor who wants most of the S&P 500 experience with a meaningfully larger cash payout and low fee drag. Not for someone who wants either an untouched index return or the largest distribution on the shelf.

Balanced income and growth

DIVO
An actively managed ETF holding a concentrated set of blue-chip dividend payers with calls written selectively on individual positions.

The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.

Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.

Moderate income with growth

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 19, 2023 would now be worth $66,778 in GPIX and $15,308 in DIVO.
PeriodGPIXDIVO
1 month0.43%1.37%
3 months1.69%3.58%
Year to date6.75%7.91%
1 year8.41%8.28%
3 years567.78%54.45%
5 years—59.59%
  • GPIX
  • DIVO
513867222023202420252026668153

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.
  • GPIX
  • DIVO
0%10%19%29%39%Technology38.8%17.9%Financial Services15.2%24.1%Healthcare9.5%12.1%Industrials7.3%12.7%Consumer Cyclical9.0%6.9%Communication Services6.5%4.7%Energy3.7%7.4%Consumer Defensive4.6%6.3%Basic Materials1.8%5.8%Utilities2.0%2.0%Other1.7%0.0%
Top 10 holdings
Largest positions by portfolio weight.

GPIX488 holdings total

NameWeight
NVDANVIDIA CORPORATION7.99%
AAPLAPPLE INC.7.55%
MSFTMICROSOFT CORPORATION5.99%
AMZNAMAZON.COM INC3.81%
XLCSTATE STREET COMMUNICATION SERVICES SELECT SECTOR3.77%
GOOGLALPHABET INC.3.36%
AVGOBROADCOM INC.2.34%
MUMICRON TECHNOLOGY, INC.1.55%
METAMETA PLATFORMS INC-CLASS A1.54%
BRK-BBERKSHIRE HATHAWAY INC.1.51%

Quick verdict

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

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Frequently asked questions

Is GPIX or DIVO better for dividend income?
It depends on your goals. GPIX currently yields 8.20% Trailing Twelve Months (TTM) while DIVO yields 6.28%. 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 GPIX and DIVO?
Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an ETF listed on NASDAQ. Amplify CWP Enhanced Dividend Income ETF (DIVO) 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, GPIX or DIVO?
GPIX has the lower expense ratio. GPIX charges 0.35% a year and DIVO charges 0.56%, a difference of $21 a year on a $10,000 investment.
Which has performed better, GPIX or DIVO?
Over the last 3 years, GPIX has the higher total return with dividends reinvested: GPIX returned 567.8% and DIVO returned 54.5%. Past performance does not predict future returns.
Which is riskier, GPIX or DIVO?
Measured by the worst peak-to-trough decline over the last five years, GPIX has been riskier: GPIX fell as much as 100.0% and DIVO as much as 13.7%. Their betas are 0.84 and 0.56.
How often do GPIX and DIVO pay dividends?
GPIX pays monthly and DIVO pays quarterly.
How much income does $10,000 in GPIX vs DIVO generate?
At current TTM yields, $10,000 in GPIX would generate roughly $68.30 per month ($820 annually). The same amount in DIVO would produce about $52.35 per month ($628 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both GPIX and DIVO?
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 GPIX vs DIVO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GPIX and DIVO 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.