Dividend comparison

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

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GPIX vs RYLD: 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 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 8.20% for GPIX. That is about $412 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 3 years, GPIX returned 567.8% versus 21.3% for RYLD, with dividends reinvested. $10,000 would have grown to $66,778 in GPIX and $12,133 in RYLD.
  • Risk. GPIX 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. GPIX holds 488 positions and RYLD holds 8. The ten largest positions make up 39.4% of GPIX and 100.0% of RYLD.
  • Size. GPIX is the larger fund with $6.2 billion in assets, against $1.3 billion for RYLD.

Bottom line: GPIX 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.
MetricGPIX
Goldman Sachs S&P 500 Premium Income ETF
RYLD
Global X - Russell 2000 Covered Call ETF
Dividend yield (TTM)8.20%12.32%
Dividend / share (TTM)$4.59$1.87
Payout frequencyMonthlyMonthly
Last dividend$0.3970 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$55.96$15.19
Dividend growth streak1 year—
Beta0.840.54
Max drawdown (5Y)-100.0%-21.5%
Market cap$1.16B$1.29B
ExchangeNASDAQAMEX
Expense ratio0.35%0.60%
Assets under management$6.24B$1.29B
Number of holdings4888
Top 10 concentration39.4%100.0%
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

RYLD

$102.65/mo

$1232 /yr at 12.32% yield

Dividend history
Total dividends paid per share in each calendar year. GPIX pays monthly; RYLD pays monthly.
YearGPIXRYLD
2025$4.2301$2.0022
2024$3.9993$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 GPIX vs RYLD 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

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 $12,027 in RYLD.
PeriodGPIXRYLD
1 month0.43%-2.57%
3 months1.69%-6.00%
Year to date6.75%-0.72%
1 year8.41%-0.20%
3 years567.78%21.33%
5 years—-1.11%
  • GPIX
  • RYLD
523877222023202420252026668120

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
  • RYLD
0%10%19%29%39%Technology38.8%13.9%Financial Services15.2%18.4%Healthcare9.5%20.1%Industrials7.3%13.2%Consumer Cyclical9.0%9.0%Energy3.7%6.7%Communication Services6.5%2.3%Real Estate1.7%6.5%Consumer Defensive4.6%2.8%Basic Materials1.8%4.3%Other2.0%2.9%
GPIX vs RYLD holdings overlap
At least 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.

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%

RYLD8 holdings total

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

Quick verdict

GPIX 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 GPIX or RYLD better for dividend income?
It depends on your goals. GPIX currently yields 8.20% 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 GPIX and RYLD?
Goldman Sachs S&P 500 Premium Income ETF (GPIX) 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, GPIX or RYLD?
GPIX has the lower expense ratio. GPIX 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, GPIX or RYLD?
Over the last 3 years, GPIX has the higher total return with dividends reinvested: GPIX returned 567.8% and RYLD returned 21.3%. Past performance does not predict future returns.
Which is riskier, GPIX or RYLD?
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 RYLD as much as 21.5%. Their betas are 0.84 and 0.54.
How often do GPIX and RYLD pay dividends?
Both pay monthly. The most recent payments were $0.3970 for GPIX and $0.1475 for RYLD.
How much income does $10,000 in GPIX vs RYLD generate?
At current TTM yields, $10,000 in GPIX would generate roughly $68.30 per month ($820 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 GPIX 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 GPIX vs RYLD with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GPIX 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.