Dividend comparison
QQQI vs GPIQ: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Nasdaq-100 High Income ETF and Goldman Sachs Nasdaq-100 Premium Income ETF, side by side. Updated October 21, 2026.
- Fees. GPIQ is cheaper at 0.35% a year versus 0.68% for QQQI. On $10,000 that is $33 a year less in fees.
- Income. QQQI pays more income, yielding 14.11% over the last twelve months versus 10.27% for GPIQ. That is about $384 more a year on $10,000. Both pay monthly.
- Performance. Over the last 1 year, GPIQ returned 7.9% versus 0.7% for QQQI, with dividends reinvested. $10,000 would have grown to $10,794 in GPIQ and $10,069 in QQQI.
- Risk. GPIQ has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -100.0%, against -20.0% for QQQI.
- Diversification. GPIQ holds 107 positions and QQQI holds 10. The ten largest positions make up 47.0% of QQQI and 47.9% of GPIQ.
- Overlap. 92% of the two portfolios overlap by weight, across 89 shared holdings. Owning both adds little diversification.
- Size. QQQI is the larger fund with $15.1 billion in assets, against $6.4 billion for GPIQ.
Bottom line: QQQI fits better if you care most about more income today and smaller drawdowns. GPIQ fits better if you care most about lower fees, stronger 1-year returns and broader diversification. With 92% overlap, most investors would hold one or the other rather than both.
| Metric | QQQI NEOS Nasdaq-100 High Income ETF | GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF |
|---|---|---|
| Dividend yield (TTM) | 14.11% | 10.27% |
| Dividend / share (TTM) | $7.64 | $5.77 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.6339 on Sep 18, 2026 | $0.5088 on Oct 7, 2026 |
| Ex-dividend date | Sep 16, 2026 | Oct 1, 2026 |
| Price | $54.16 | $56.13 |
| Dividend growth streak | — | 1 year |
| Beta | 0.93 | 1.16 |
| Max drawdown (5Y) | -20.0% | -100.0% |
| Market cap | $14.89B | $1.19B |
| Exchange | NASDAQ | NASDAQ |
| Expense ratio | 0.68% | 0.35% |
| Assets under management | $15.08B | $6.37B |
| Number of holdings | 10 | 107 |
| Top 10 concentration | 47.0% | 47.9% |
QQQI
$117.57/mo
$1411 /yr at 14.11% yield
GPIQ
$85.60/mo
$1027 /yr at 10.27% yield
| Year | QQQI | GPIQ |
|---|---|---|
| 2025 | $7.4435 | $5.1860 |
| 2024 | — | $4.8875 |
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 QQQI vs GPIQ actually do
It owns Nasdaq-100 constituents and applies the same call strategy of sold and purchased index options, sized actively rather than as a fixed full overwrite. Nasdaq-100 volatility is structurally higher, so the option premium collected is larger and the monthly distribution is bigger than the S&P 500 version. NDX options are also section 1256 contracts, so the same 60/40 tax treatment and loss-harvesting mechanics apply.
Suits someone who wants technology-heavy exposure converted into monthly cash with attention paid to tax character. A poor fit if you are holding the Nasdaq-100 specifically to compound growth, because the call overlay gives away the tail of exactly the rallies that index is bought for.
Aggressive tax-aware income
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
| Period | QQQI | GPIQ |
|---|---|---|
| 1 month | -0.42% | -1.32% |
| 3 months | -0.09% | 0.27% |
| Year to date | 0.56% | 7.10% |
| 1 year | 0.69% | 7.94% |
| 3 years | — | 599.00% |
| 5 years | — | — |
- QQQI
- GPIQ
Both series indexed to 100 on 2024-01-30 using the adjusted closing price series. Past performance does not guarantee future results.
- QQQI
- GPIQ
| Largest shared holdings | QQQI weight | GPIQ weight |
|---|---|---|
| NVDANVIDIA Corp | 8.20% | 8.20% |
| AAPLApple Inc | 7.81% | 7.84% |
| MSFTMicrosoft Corp | 6.11% | 6.23% |
| MUMicron Technology Inc | 4.40% | 4.42% |
| AMZNAmazon.com Inc | 4.47% | 4.36% |
| AMDAdvanced Micro Devices Inc | 3.81% | 3.82% |
| METAMeta Platforms Inc | 3.25% | 3.34% |
| GOOGLAlphabet Inc | 3.13% | 3.96% |
| TSLATesla Inc | 2.96% | 2.95% |
| AVGOBroadcom Inc | 2.51% | 2.53% |
Quick verdict
QQQI fits better if you care most about more income today and smaller drawdowns. GPIQ fits better if you care most about lower fees, stronger 1-year returns and broader diversification. With 92% overlap, most investors would hold one or the other rather than both. 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.