Dividend comparison

GPIX vs QYLD: 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 Global X - Nasdaq 100 Covered Call ETF, side by side. Updated October 21, 2026.

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GPIX vs QYLD: key differences
The short answer, from the latest data on this page.
  • Fees. GPIX 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 8.20% for GPIX. That is about $346 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 3 years, GPIX returned 567.8% versus 42.7% for QYLD, with dividends reinvested. $10,000 would have grown to $66,778 in GPIX and $14,270 in QYLD.
  • Risk. GPIX 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. GPIX holds 488 positions and QYLD holds 102. The ten largest positions make up 39.4% of GPIX and 48.9% of QYLD.
  • Overlap. At least 47% of the two portfolios overlap by weight, across 34 shared holdings.

Bottom line: GPIX fits better if you care most about lower fees, stronger 3-year returns and broader diversification. QYLD 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.
MetricGPIX
Goldman Sachs S&P 500 Premium Income ETF
QYLD
Global X - Nasdaq 100 Covered Call ETF
Dividend yield (TTM)8.20%11.66%
Dividend / share (TTM)$4.59$2.13
Payout frequencyMonthlyMonthly
Last dividend$0.3970 on Oct 7, 2026$0.1767 on Sep 24, 2026
Ex-dividend dateOct 1, 2026Oct 19, 2026
Next payment—$0.1830 on Oct 22, 2026
Dividend growth (CAGR)—-2.0% over 4 yrs
Price$55.96$18.28
Dividend growth streak1 year—
Beta0.840.48
Max drawdown (5Y)-100.0%-24.5%
Market cap$1.16B$8.38B
ExchangeNASDAQNASDAQ
Expense ratio0.35%0.60%
Assets under management$6.24B$8.36B
Number of holdings488102
Top 10 concentration39.4%48.9%
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

QYLD

$97.14/mo

$1166 /yr at 11.66% yield

Dividend history
Total dividends paid per share in each calendar year. GPIX pays monthly; QYLD pays monthly.
YearGPIXQYLD
2025$4.2301$2.3793
2024$3.9993$2.1045
2023—$2.0380
2022—$2.5261
2021—$2.5810
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 QYLD 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

QYLD
A Global X ETF that owns the Nasdaq-100 and sells at-the-money monthly calls against the entire portfolio.

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

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 $14,072 in QYLD.
PeriodGPIXQYLD
1 month0.43%-0.49%
3 months1.69%2.64%
Year to date6.75%3.45%
1 year8.41%6.96%
3 years567.78%42.70%
5 years—34.31%
  • GPIX
  • QYLD
513877222023202420252026668141

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
  • QYLD
0%15%30%45%60%Technology38.8%60.3%Communication Services6.5%12.6%Consumer Cyclical9.0%10.1%Financial Services15.2%0.2%Healthcare9.5%3.8%Industrials7.3%5.1%Consumer Defensive4.6%5.6%Energy3.7%0.4%Utilities2.0%1.0%Basic Materials1.8%0.9%Other1.7%0.1%
GPIX vs QYLD holdings overlap
At least 47% overlap by weight, with 34 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 holdingsGPIX weightQYLD weight
NVDANVIDIA CORPORATION7.99%8.55%
AAPLAPPLE INC.7.55%7.80%
MSFTMICROSOFT CORPORATION5.99%6.30%
AMZNAMAZON.COM INC3.81%4.39%
GOOGLALPHABET INC.3.36%3.25%
AVGOBROADCOM INC.2.34%2.65%
MUMICRON TECHNOLOGY, INC.1.55%4.83%
METAMETA PLATFORMS INC-CLASS A1.54%3.46%
TSLATESLA INC.1.48%3.11%
AMDADVANCED MICRO DEVICES INC.1.33%4.20%
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%

QYLD102 holdings total

NameWeight
NVDANVIDIA CORP8.55%
AAPLAPPLE INC7.80%
MSFTMICROSOFT CORP6.30%
MUMICRON TECHNOLOGY INC4.83%
AMZNAMAZON.COM INC4.39%
AMDADVANCED MICRO DEVICES4.20%
METAMETA PLATFORMS INC3.46%
GOOGLALPHABET INC-CL A3.25%
TSLATESLA INC3.11%
SPCXSPACE EXPLORATION TECHN-CL A3.03%

Quick verdict

GPIX fits better if you care most about lower fees, stronger 3-year returns and broader diversification. QYLD 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 GPIX or QYLD better for dividend income?
It depends on your goals. GPIX currently yields 8.20% Trailing Twelve Months (TTM) while QYLD yields 11.66%. 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 QYLD?
Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an ETF listed on NASDAQ. Global X - Nasdaq 100 Covered Call ETF (QYLD) 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, GPIX or QYLD?
GPIX has the lower expense ratio. GPIX charges 0.35% a year and QYLD charges 0.60%, a difference of $25 a year on a $10,000 investment.
Which has performed better, GPIX or QYLD?
Over the last 3 years, GPIX has the higher total return with dividends reinvested: GPIX returned 567.8% and QYLD returned 42.7%. Past performance does not predict future returns.
Which is riskier, GPIX or QYLD?
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 QYLD as much as 24.5%. Their betas are 0.84 and 0.48.
How much do GPIX and QYLD overlap?
At least 47% of the two portfolios overlap by weight, across 34 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do GPIX and QYLD pay dividends?
Both pay monthly. The most recent payments were $0.3970 for GPIX and $0.1767 for QYLD.
How much income does $10,000 in GPIX vs QYLD generate?
At current TTM yields, $10,000 in GPIX would generate roughly $68.30 per month ($820 annually). The same amount in QYLD would produce about $97.14 per month ($1166 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both GPIX and QYLD?
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 QYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GPIX and QYLD 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.