BALI vs GPIX: Grades, Fees and Holdings Compared

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

Overlap

57.1%by weight

Expense ratio

GPIX −0.06pt a year

BALI0.35%GPIX0.29%

Avg volume · 30D

GPIX 3.4×the volume

BALI337KGPIX1.14M

3Y return · a year

BALI +0.1pt

BALI+21.2%GPIX+21.1%

BALI vs GPIX Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%BALI+13.2%GPIX

Expense ratio: BALI 0.35%; GPIX 0.29%, better
Fund size: BALI $1.54B; GPIX $6.46B
1Y total return: BALI +15.6%, better; GPIX +13.2%
Yield (12M): BALI 7.84%; GPIX 8.32%, better
Holdings: BALI 193; GPIX 486
Avg volume (30D): BALI 337K sh; GPIX 1.14M sh, better
NAV per share: BALI $34.08; GPIX $56.03
52W range

ETF.net Grade

Pillar letters and Scores for BALI, GPIX, with each pillar’s weight
Pillar	BALI	GPIX
Cost30% weight	A77	A87Higher
Mission25% weight	A100	A100
Risk15% weight	B56Higher	C40
Tradability15% weight	A83Higher	B68
Holdings10% weight	A83Higher	B68
Durability5% weight	A85Higher	A77

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. BALI and GPIX are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds

See all 51 ›

BALI ranks 2nd and GPIX 4th of 51 funds in the S&P 500 Option Income Category.

Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80
Rank 4AGPIXGoldman Sachs S&P 500 Premium Income ETFScore 78
Rank 5ARSPAInvesco S&P 500 Equal Weight Income Advantage ETFScore 76

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

GPIXAGoldman Sachs S&P 500 Premium Income ETF

In short

BALI BlackRock's active answer to the covered-call crowd: roughly 200 hand-picked U.S. large caps, calls written on the S&P 500 itself rather than single stocks, monthly payouts, at well under the typical fee in its peer group.

GPIX Most option-income funds sell the whole rally for yield. GPIX is written to ask for both: current income and preserved prospects for capital appreciation, on a roughly 500-stock S&P 500 core, at 0.35%, paid monthly.

Stated mandate

BALI BALI seeks consistent income with lower volatility than the broader U.S. equity market. It primarily holds U.S. large-cap equities, sells calls on a large-cap equity index, and uses related index futures to pursue premium income and capital appreciation.

GPIX The Fund seeks current income while preserving prospects for capital appreciation. It invests primarily in benchmark-related stocks and sells call options providing exposure to the benchmark to generate premium income.

Why people hold it

BALI 0.35% a year against a 0.60% median for S&P 500 option-income funds, and below what XYLD (0.60%) or SPYI (0.68%) charge for similar work.
Actively run, not a mechanical buy-write: about 200 large caps picked by the manager, index calls sold on top, index futures used alongside.ishares.com
Pays monthly, and the mandate chases capital appreciation as well as premium, so the stock sleeve is not just collateral for the options.
Does what its documents say it does, and stands among the stronger implementations in the S&P 500 option-income group.

GPIX The mandate is income without giving up on growth: hold benchmark stocks, sell calls tied to the S&P 500 for premium, and keep prospects for capital appreciation.
The 0.35% fee sits below the typical charge among S&P 500 option-income peers, including older buy-write names like XYLD.
Roughly 500 stocks underneath and cash out the door monthly, so the equity engine is the index itself rather than a synthetic stand-in.
A multi-billion-dollar, actively traded fund launched in 2023, and one of the tighter implementations of this strategy in its peer group.

Worth knowing

BALI Selling index calls swaps part of a big rally for premium. The design targets lower volatility than the broad market, not maximum upside.
Distributions can include return of capital, meaning part of a payout may be your own money coming back rather than fund earnings.ishares.com
Launched in 2023, so the track record is short, and it trades at moderate volume rather than with the tightest spreads in the category.

GPIX Premium income comes from selling upside. Where calls are written, gains are capped, so a fast melt-up in the S&P 500 leaves some return on the table.
Distributions can include return of capital, meaning part of a payout may be your own money coming back. The fund's tax disclosures show the split.
This is an equity fund, not a hedge. Option premium softens the ride; it does not put a floor under a market drop.

Full BALI profile⁠

Full GPIX profile⁠

BALI vs GPIX Holdings

How BALI and GPIX differ

Overlap by weight

57.1%

Shared holdings make up 88.7% of BALI and 64.1% of GPIX.

Level by level

Holdings115 in both57.1%
Sector11 Sectors91.8%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in BALI and GPIX, widest gap first
Sector	More in BALIMore in GPIX	BALI	GPIX
Financials	GPIX +4.7 points	10.5%	15.2%
Communication	BALI +2.1 points	8.0%	5.9%
Technology	GPIX +1.8 points	37.0%	38.8%
Consumer Staples	BALI +1.7 points	6.3%	4.6%
Health Care	BALI +1.6 points	11.3%	9.7%
Energy	BALI +1.4 points	5.2%	3.8%
Real Estate	GPIX +1.0 points	0.7%	1.7%
Industrials	BALI +1.0 points	8.3%	7.3%
Utilities	BALI +0.6 points	2.6%	2.0%
Consumer Discretionary	GPIX +0.4 points	8.7%	9.1%
Materials	GPIX +0.3 points	1.5%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in BALI and GPIX, widest gap first
Country	More in BALIMore in GPIX	BALI	GPIX
United States	GPIX +0.1 points	99.4%	99.5%
Netherlands	BALI +0.4 points	0.4%	0.0%
Switzerland	GPIX +0.3 points	0.0%	0.3%
United Kingdom	BALI +0.1 points	0.2%	0.1%
China	GPIX +0.1 points	0.0%	0.1%
Brazil	BALI +0.1 points	0.1%	0.0%
Mexico	GPIX +0.1 points	0.0%	0.1%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BALI35.0%
GPIX38.7%

Securities held

BALI190
GPIX485

Asset class

BALI: Equity
GPIX: Equity

Holdings

Only in BALI75
In both115
Only in GPIX370

Only in BALI

75 securities, 7.3% of BALI by weight

Medtronic PLC0.53%
American Financial Group0.50%
Ferrovial NV0.33%
Texas Roadhouse Inc0.29%
Agnc Investment Reit0.29%
First Hawaiian0.26%
Dynatrace Inc0.23%
Amdocs0.23%
Blue Owl Capital Class A0.21%
Popular0.19%
United Therapeutics0.17%
New York Times Class A0.17%
Neurocrine Biosciences0.16%
First Horizon0.16%
Viking Holdings Ltd0.15%
Exelixis Inc0.15%
Omnicom Group Inc0.14%
Healthcare Realty Trust Inc Class0.14%
Rpm International Inc0.13%
Applied Industrial Technologies0.13%
Natera0.13%
Rayonier Reit0.11%
Sentinelone Inc Class A0.10%
Omega Healthcare Investors Reit0.10%
General Mills Inc0.10%
Nvent Electric PLC0.10%
Ionis Pharmaceuticals0.10%
Ingredion Inc0.10%
Elastic0.09%
Old Republic International0.09%
Mercadolibre0.08%
Eastman Chemical0.08%
Chemed0.07%
Smithfield Foods0.07%
Astera Labs0.07%
Eastgroup Properties Reit0.06%
Snowflake0.06%
Reliance Steel & Aluminum0.06%
Gentex0.06%
Dropbox Inc Class A0.05%
H&R Block Inc0.05%
Booz Allen Hamilton Holding Class0.05%
Columbia Banking System Inc0.05%
Borgwarner0.05%
Liberty Media Series C0.05%
Mongodb Class A0.05%
W. P. Carey Reit0.05%
Littelfuse0.04%
Agree Realty Reit0.04%
Coca Cola Europacific Partners PLC0.04%

Only in GPIX

370 securities, 36.1% of GPIX by weight

State Street Communication Services Select Sector3.48%
Johnson & Johnson1.00%
Walmart Inc0.80%
Mastercard Incorporated0.77%
Coca-Cola Company (The)0.55%
Philip Morris Intl Inc0.48%
General Electric Company0.47%
Rtx Corp0.41%
Morgan Stanley0.41%
Thermo Fisher Scientific Inc0.41%
Wells Fargo & Company0.39%
The Home Depot, Inc.0.35%
Linde PLC0.34%
Citigroup Inc.0.33%
Kla Corp0.33%
Analog Devices Inc.0.32%
BlackRock Funding, Inc.0.29%
Mc Donalds Corp0.29%
Arista Networks, Inc.0.29%
Conocophillips0.27%
Union Pacific Corp.0.27%
Salesforce Inc0.26%
Eaton Corp PLC0.26%
Deere & Company0.25%
Welltower, Inc.0.25%
American Express Co.0.25%
Intuitive Surgical, Inc.0.24%
The Southern Co.0.24%
Chubb Limited0.23%
S&P Global Inc.0.23%
Servicenow Inc0.22%
Accenture PLC0.22%
Prologis Inc0.21%
Danaher Corporation0.21%
Medtronic Public Limited Company0.20%
Vertex Pharmaceuticals Incorporated0.20%
Capital One Financial Corp0.20%
Boeing Company0.20%
The Progressive Corporation0.20%
Marathon Petroleum Corporation0.19%
Uber Technologies, Inc.0.19%
Automatic Data Processing Inc0.19%
Newmont Corp0.19%
Bristol-Myers Squibb Company0.18%
The Bank of Ny Mellon Corp0.18%
General Motors Company0.18%
Parker-Hannifin Corp.0.17%
Emerson Electric Co.0.17%
American Electric Power Inc0.17%
Altria Group, Inc.0.17%

Weight gaps

The 100 widest of 115 Holdings in both funds.

Holding weights in BALI and GPIX, widest gap first
Holding	More in BALIMore in GPIX	BALI	GPIX
AppleAAPL	GPIX +1.31 points	6.35%	7.66%
ChevronCVX	BALI +1.16 points	1.87%	0.71%
United Parcel Service Inc Class BUPS	BALI +1.12 points	1.24%	0.12%
Costco Wholesale CorpCOST	BALI +1.10 points	1.75%	0.65%
Alphabet Class CGOOG	BALI +1.08 points	1.93%	0.85%
PfizerPFE	BALI +1.03 points	1.29%	0.26%
Procter & GamblePG	BALI +1.01 points	1.63%	0.62%
NVIDIANVDA	GPIX +1.00 points	6.82%	7.82%
TjxTJX	BALI +0.96 points	1.24%	0.28%
Tesla IncTSLA	GPIX +0.88 points	0.79%	1.67%
Wec Energy GroupWEC	BALI +0.88 points	0.88%	<0.01%
Exxonmobil Holdings CorpXOM	BALI +0.86 points	2.01%	1.15%
Verizon Communications IncVZ	BALI +0.84 points	0.93%	0.09%
Lockheed MartinLMT	BALI +0.80 points	1.00%	0.20%
Alphabet Class AGOOGL	GPIX +0.76 points	2.06%	2.82%
Abbott LaboratoriesABT	BALI +0.67 points	0.95%	0.28%
Cardinal HealthCAH	BALI +0.67 points	0.75%	0.08%
Visa Class AV	BALI +0.57 points	1.62%	1.04%
Ametek IncAME	BALI +0.57 points	0.68%	0.11%
Gilead SciencesGILD	BALI +0.56 points	0.87%	0.31%
Phillips 66PSX	BALI +0.52 points	0.69%	0.17%
MicrosoftMSFT	GPIX +0.51 points	5.41%	5.92%
Airbnb Class AABNB	BALI +0.51 points	0.65%	0.14%
Vulcan MaterialsVMC	BALI +0.51 points	0.60%	0.09%
Citizens Financial Group IncCFG	BALI +0.50 points	0.54%	0.04%
UnitedHealth GroupUNH	BALI +0.50 points	1.07%	0.57%
3MMMM	BALI +0.49 points	0.61%	0.12%
PepsicoPEP	BALI +0.47 points	0.68%	0.21%
Ppl CorpPPL	BALI +0.44 points	0.44%	<0.01%
Merck & Co IncMRK	BALI +0.43 points	0.97%	0.54%
Amazon.com IncAMZN	GPIX +0.41 points	3.16%	3.57%
VerisignVRSN	BALI +0.40 points	0.43%	0.03%
Valero Energy CorpVLO	BALI +0.40 points	0.57%	0.17%
Broadcom IncAVGO	GPIX +0.39 points	2.07%	2.46%
Oreilly Automotive IncORLY	BALI +0.39 points	0.53%	0.14%
General Dynamics CorpGD	BALI +0.38 points	0.51%	0.13%
Archer Daniels MidlandADM	BALI +0.37 points	0.42%	0.05%
Nextera EnergyNEE	BALI +0.35 points	0.55%	0.20%
Booking HoldingsBKNG	BALI +0.33 points	0.47%	0.14%
Mckesson CorpMCK	BALI +0.34 points	0.50%	0.16%
Applied Material IncAMAT	BALI +0.32 points	0.82%	0.50%
Cisco Systems IncCSCO	BALI +0.31 points	0.96%	0.65%
Exelon CorpEXC	BALI +0.30 points	0.31%	<0.01%
Lowes Companies IncLOW	BALI +0.30 points	0.36%	0.06%
Meta Platforms Class AMETA	BALI +0.29 points	1.60%	1.31%
Eli LillyLLY	GPIX +0.29 points	1.37%	1.66%
Micron TechnologyMU	GPIX +0.29 points	1.32%	1.61%
Berkshire Hathaway Inc Class BBRK.B	BALI +0.28 points	1.81%	1.53%
Lam ResearchLRCX	BALI +0.28 points	0.75%	0.47%
Adobe IncADBE	BALI +0.27 points	0.43%	0.16%
Caterpillar IncCAT	BALI +0.27 points	0.73%	0.46%
Mondelez International Class AMDLZ	BALI +0.27 points	0.39%	0.12%
PaychexPAYX	BALI +0.26 points	0.34%	0.08%
Us BancorpUSB	BALI +0.26 points	0.43%	0.17%
Comfort Systems UsaFIX	BALI +0.26 points	0.34%	0.08%
Charles SchwabSCHW	BALI +0.26 points	0.49%	0.23%
T Mobile Us IncTMUS	BALI +0.26 points	0.26%	<0.01%
NetflixNFLX	BALI +0.24 points	0.44%	0.20%
JPMorgan Chase & CoJPM	GPIX +0.24 points	1.17%	1.41%
Northrop Grumman CorpNOC	BALI +0.24 points	0.36%	0.12%
Air Products and ChemicalsAPD	BALI +0.23 points	0.33%	0.10%
Bank of AmericaBAC	BALI +0.23 points	0.75%	0.52%
Rockwell Automation IncROK	BALI +0.23 points	0.32%	0.09%
Travelers CompaniesTRV	BALI +0.22 points	0.36%	0.14%
IntuitINTU	BALI +0.23 points	0.32%	0.09%
Intel CorporationINTC	GPIX +0.23 points	0.46%	0.69%
Target CorpTGT	BALI +0.22 points	0.31%	0.09%
Starbucks CorpSBUX	BALI +0.20 points	0.37%	0.17%
Tyson Foods Inc Class ATSN	BALI +0.19 points	0.22%	0.03%
FortinetFTNT	BALI +0.18 points	0.33%	0.15%
Amgen IncAMGN	BALI +0.18 points	0.56%	0.38%
BlackstoneBX	BALI +0.18 points	0.31%	0.13%
Healthpeak Properties IncDOC	BALI +0.18 points	0.20%	0.02%
Intercontinental Exchange IncICE	BALI +0.17 points	0.35%	0.18%
Amphenol Corp Class AAPH	BALI +0.17 points	0.47%	0.30%
Cvs HealthCVS	BALI +0.17 points	0.34%	0.17%
Texas InstrumentTXN	BALI +0.17 points	0.59%	0.42%
International Business Machines CoIBM	BALI +0.17 points	0.51%	0.34%
Palantir Technologies Class APLTR	GPIX +0.16 points	0.50%	0.66%
Advanced Micro DevicesAMD	GPIX +0.16 points	1.23%	1.39%
Avery Dennison CorpAVY	BALI +0.15 points	0.17%	0.02%
Western Digital CorpWDC	BALI +0.16 points	0.36%	0.21%
Honeywell International IncHON	BALI +0.14 points	0.23%	0.09%
Palo Alto NetworksPANW	GPIX +0.14 points	0.32%	0.46%
Constellation Brands Class ASTZ	BALI +0.13 points	0.15%	0.02%
Dell Technologies Inc Class CDELL	BALI +0.13 points	0.35%	0.22%
Boston ScientificBSX	BALI +0.13 points	0.23%	0.10%
FastenalFAST	BALI +0.13 points	0.21%	0.08%
Wr BerkleyWRB	BALI +0.12 points	0.13%	<0.01%
Duke Energy CorpDUK	BALI +0.12 points	0.35%	0.23%
Kraft HeinzKHC	BALI +0.11 points	0.14%	0.03%
Cboe Global MarketsCBOE	BALI +0.10 points	0.14%	0.04%
Fox Class AFOXA	BALI +0.10 points	0.11%	0.01%
OracleORCL	GPIX +0.10 points	0.25%	0.35%
Cognizant Technology Solutions ClaCTSH	BALI +0.09 points	0.15%	0.06%
Transdigm GroupTDG	BALI +0.09 points	0.23%	0.14%
Cme Group Class ACME	BALI +0.09 points	0.26%	0.17%
SyscoSYY	BALI +0.08 points	0.15%	0.07%
Seagate Technology Holdings PLCSTX	BALI +0.06 points	0.30%	0.23%
Datadog Inc Class ADDOG	BALI +0.06 points	0.19%	0.13%

All 190 BALI holdings⁠All 490 GPIX holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BALI vs GPIX Cost

Overpaying BALI vs GPIX

$1,174

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BALI 0.35%
$7,126
GPIX 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

BALI 0.35%
GPIX 0.29%
Overpaying

Year by year

Year	BALI	GPIX	Overpaying
10	$634	$527	$107
20	$2,454	$2,044	$410
30	$7,126	$5,952	$1,174

Expense ratio

0.35%BALI
0.29%GPIX, cheaper

GPIX0.29%BALI0.35%

0.10%1.18%

Middle half of S&P 500 Option Income funds
Median 0.60%

GPIX 5th cheapest of 51 funds

BALI 11th cheapest of 51 funds

BALI vs GPIX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BALI 7.84%; GPIX 8.32%, better
Payout (12M): BALI $2.67; GPIX $4.59
Last payment: BALI $0.18; GPIX $0.40
Ex-dividend: BALI Oct 1, 2026; GPIX Oct 1, 2026
Paid on: BALI Oct 6, 2026; GPIX Oct 7, 2026
Frequency: BALI Monthly; GPIX Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 36 paymentsAll BALI payments⁠

GPIXMonthly · 35 paymentsAll GPIX payments⁠

BALI vs GPIX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BALI 10.2%, betterGPIX 10.4%
Return per unit of riskSharpe ratio, 3 years: BALI 1.52, betterGPIX 1.49
Worst fallMax drawdown, 5 years: BALI −16.6%since Sep 2023GPIX −17.5%since Oct 2023
Market sensitivityBeta, 5 years: BALI 0.79GPIX 0.84; Market = 1

BALI and GPIX in the news

All news⁠

ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026GPIX
Income Watch
BlackRock estimates 86% of the iShares Nasdaq Premium Income Active ETF's October check was return of capital
Oct 11, 2026BALI

Popular comparisons

BALIAvsCSHIA
iShares U.S. Large Cap Premium Income Active ETF · Neos Enhanced Income Cash Alternative ETF
Expense ratio
0.35% · 0.38%
Category
GPIXAvsCSHIA
Goldman Sachs S&P 500 Premium Income ETF · Neos Enhanced Income Cash Alternative ETF
Expense ratio
0.29% · 0.38%
Category
BALIAvsIVVWA
iShares U.S. Large Cap Premium Income Active ETF · iShares S&P 500 BuyWrite ETF
Expense ratio
0.35% · 0.25%
Category
GPIXAvsIVVWA
Goldman Sachs S&P 500 Premium Income ETF · iShares S&P 500 BuyWrite ETF
Expense ratio
0.29% · 0.25%
Category
BALIAvsRSPAA
iShares U.S. Large Cap Premium Income Active ETF · Invesco S&P 500 Equal Weight Income Advantage ETF
Expense ratio
0.35% · 0.29%
Category
GPIXAvsRSPAA
Goldman Sachs S&P 500 Premium Income ETF · Invesco S&P 500 Equal Weight Income Advantage ETF
Expense ratio
0.29% · 0.29%
Category

BALI vs GPIX

In short

Stated mandate

Why people hold it

Worth knowing

How BALI and GPIX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in GPIX

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two PayDay ETFs that would pay every two weeks

BlackRock estimates 86% of the iShares Nasdaq Premium Income Active ETF's October check was return of capital

Franklin Templeton files two PayDay ETFs that would pay every two weeks

BlackRock estimates 86% of the iShares Nasdaq Premium Income Active ETF's October check was return of capital

How BALI and GPIX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in GPIX

Weight gaps