Dividend comparison
GPIX vs XYLD: 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 - S&P 500 Covered Call ETF, side by side. Updated October 21, 2026.
- Fees. GPIX 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 8.20% for GPIX. That is about $225 more a year on $10,000. Both pay monthly.
- Performance. Over the last 3 years, GPIX returned 567.8% versus 37.0% for XYLD, with dividends reinvested. $10,000 would have grown to $66,778 in GPIX and $13,695 in XYLD.
- Risk. GPIX 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 GPIX holds 488. The ten largest positions make up 39.4% of GPIX and 39.9% of XYLD.
- Overlap. At least 69% of the two portfolios overlap by weight, across 86 shared holdings.
Bottom line: GPIX fits better if you care most about lower fees and stronger 3-year returns. XYLD fits better if you care most about more income today and smaller drawdowns.
| Metric | GPIX Goldman Sachs S&P 500 Premium Income ETF | XYLD Global X - S&P 500 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 8.20% | 10.44% |
| Dividend / share (TTM) | $4.59 | $4.32 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.3970 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 | $55.96 | $41.40 |
| Dividend growth streak | 1 year | 1 year |
| Beta | 0.84 | 0.41 |
| Max drawdown (5Y) | -100.0% | -18.6% |
| Market cap | $1.16B | $3.41B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.35% | 0.60% |
| Assets under management | $6.24B | $3.38B |
| Number of holdings | 488 | 505 |
| Top 10 concentration | 39.4% | 39.9% |
GPIX
$68.30/mo
$820 /yr at 8.20% yield
XYLD
$87.02/mo
$1044 /yr at 10.44% yield
| Year | GPIX | XYLD |
|---|---|---|
| 2025 | $4.2301 | $5.4603 |
| 2024 | $3.9993 | $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 GPIX vs XYLD actually do
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
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 | GPIX | XYLD |
|---|---|---|
| 1 month | 0.43% | -0.05% |
| 3 months | 1.69% | 0.61% |
| Year to date | 6.75% | 1.90% |
| 1 year | 8.41% | 5.56% |
| 3 years | 567.78% | 36.95% |
| 5 years | — | 30.19% |
- GPIX
- XYLD
Both series indexed to 100 on 2023-10-19 using the adjusted closing price series. Past performance does not guarantee future results.
- GPIX
- XYLD
| Largest shared holdings | GPIX weight | XYLD weight |
|---|---|---|
| NVDANVIDIA CORPORATION | 7.99% | 8.32% |
| AAPLAPPLE INC. | 7.55% | 7.57% |
| MSFTMICROSOFT CORPORATION | 5.99% | 6.10% |
| AMZNAMAZON.COM INC | 3.81% | 3.88% |
| GOOGLALPHABET INC. | 3.36% | 3.14% |
| AVGOBROADCOM INC. | 2.34% | 2.57% |
| MUMICRON TECHNOLOGY, INC. | 1.55% | 1.70% |
| METAMETA PLATFORMS INC-CLASS A | 1.54% | 2.49% |
| TSLATESLA INC. | 1.48% | 1.62% |
| BRK-BBERKSHIRE HATHAWAY INC. | 1.51% | 1.47% |
GPIX488 holdings total
| Name | Weight |
|---|---|
| NVDANVIDIA CORPORATION | 7.99% |
| AAPLAPPLE INC. | 7.55% |
| MSFTMICROSOFT CORPORATION | 5.99% |
| AMZNAMAZON.COM INC | 3.81% |
| XLCSTATE STREET COMMUNICATION SERVICES SELECT SECTOR | 3.77% |
| GOOGLALPHABET INC. | 3.36% |
| AVGOBROADCOM INC. | 2.34% |
| MUMICRON TECHNOLOGY, INC. | 1.55% |
| METAMETA PLATFORMS INC-CLASS A | 1.54% |
| BRK-BBERKSHIRE HATHAWAY INC. | 1.51% |
Quick verdict
GPIX fits better if you care most about lower fees and stronger 3-year returns. XYLD fits better if you care most about more income today and smaller drawdowns. 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.