FTQI vs GPIQ: Grades, Fees and Holdings Compared

First Trust Nasdaq BuyWrite Income ETF

FTQIANasdaq

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Overlap

49.5%by weight

Expense ratio

GPIQ −0.46pt a year

FTQI0.75%GPIQ0.29%

Avg volume · 30D

GPIQ 4.0×the volume

FTQI412KGPIQ1.66M

3Y return · a year

GPIQ +4.4pt

FTQI+16.4%GPIQ+20.8%

FTQI vs GPIQ Performance

Nov 7, 2025 – Nov 9, 2026

+15.3%FTQI+12.2%GPIQ

Expense ratio: FTQI 0.75%; GPIQ 0.29%, better
Fund size: FTQI $954M; GPIQ $6.2B
1Y total return: FTQI +15.3%, better; GPIQ +12.2%
Yield (12M): FTQI 11.83%, better; GPIQ 10.89%
Holdings: FTQI 175; GPIQ 102
Avg volume (30D): FTQI 412K sh; GPIQ 1.66M sh, better
NAV per share: FTQI $20.58; GPIQ $51.24
52W range

ETF.net Grade

Pillar letters and Scores for FTQI, GPIQ, with each pillar’s weight
Pillar	FTQI	GPIQ
Cost30% weight	C42	A92Higher
Mission25% weight	A100	A100
Risk15% weight	A74Higher	C51
Tradability15% weight	A71Higher	B62
Holdings10% weight	A84Higher	A73
Durability5% weight	A89Higher	A79

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. FTQI and GPIQ are both graded against the same 30 Nasdaq-100 Option Income funds, so their Grades compare head to head.

Nasdaq-100 Option Income⁠

Category · 30 funds

See all 30 ›

GPIQ ranks 2nd and FTQI 7th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 2AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 80
Rank 2AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 80
Rank 7ABALQiShares Nasdaq Premium Income Active ETFScore 72
Rank 7AFTQIFirst Trust Nasdaq BuyWrite Income ETFScore 72
Rank 9AEDGQGlobal X Nasdaq-100 Income Edge ETFScore 71

Our read on each fund

ETF.net Research

FTQIAFirst Trust Nasdaq BuyWrite Income ETF

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

In short

FTQI Most Nasdaq-100 income funds sell calls on everything, all the time. FTQI works a dial: a hand-picked stock basket with index calls written on 50% to 100% of assets, so managers choose how much upside gets sold. Running since 2014, pays monthly.

GPIQ Goldman's take on the Nasdaq-100 income trade: it owns the index but sells calls on only 25% to 75% of the portfolio, reset monthly, so part of the upside stays uncapped. Fee is 0.29% net of a waiver through April 30, 2027.

Stated mandate

FTQI The fund seeks current income by investing primarily in U.S.-listed equities and writing exchange-traded covered calls on the Nasdaq-100 Index to obtain option-premium cash flow.

GPIQ The Fund seeks current income while maintaining prospects for capital appreciation. It provides Nasdaq-100 equity exposure and dynamically sells call options while seeking participation in rising markets.

Why people hold it

FTQI The overlay is adjustable by design. The prospectus sets call notional at 50% to 100% of assets, so coverage can flex rather than run wide open every cycle.sec.gov
Managers may also buy a higher-strike Nasdaq-100 call against the ones they sell, a spread built to keep some index upside above the short strike.sec.gov
The equity sleeve is actively chosen (roughly 230 US-listed stocks) instead of a straight index clone, with the option premium paid out monthly.ftportfolios.com
Trading since 2014, it predates most of the Nasdaq-100 premium-income wave and stands in the upper tier of a now-crowded peer group.

GPIQ The overwrite is a dial, not a switch: calls cover 25% to 75% of the equity portfolio, reset each month, leaving a slice of Nasdaq-100 upside uncapped by design.gsam.com
0.29% net of a waiver through April 30, 2027 undercuts JEPQ at 0.35% and QYLD at 0.60%, and matches QQA, which is 0.29% net of a waiver through August 31, 2027.
Calls are written on index-level exposure, not individual names, and the stock sleeve tracks Nasdaq-100 weights. Pays monthly.sec.gov
A multi-billion-dollar, actively traded fund and one of the strongest implementations in a crowded Nasdaq-100 income group.

Worth knowing

FTQI At 0.75%, it prices above the category median, and Nasdaq-100 income rivals such as QQA, GPIQ and JEPQ sit meaningfully lower.
The Nasdaq mandate dates to a 2022 rename. Before that it ran a hedged S&P 500 buywrite, so the longest stretch of its record reflects a different strategy.cbonds.com
Selling index calls trades away part of a Nasdaq rally for premium, and the monthly payout can include return of capital, which reduces your cost basis.sec.gov

GPIQ Goldman's filing flags that a significant portion of distributions may be return of capital, which trims your cost basis rather than adding to it.sec.gov
Full exposure to Nasdaq-100 drawdowns stays; premium cushions the ride but does not offset a selloff, and gains on the overwritten slice are capped.sec.gov
Gross fee is 0.35%. If the waiver is not extended past April 30, 2027, the cost steps up to that level.

Full FTQI profile⁠

Full GPIQ profile⁠

FTQI vs GPIQ Holdings

How FTQI and GPIQ differ

Overlap by weight

49.5%

Shared holdings make up 63.7% of GPIQ and 56.2% of FTQI.

About this figure: FTQI earns income from options, which aren’t counted.

GPIQ earns income from options, which aren’t counted.

Level by level

Holdings25 in both49.5%
Sector11 Sectors84.4%
Countryby domicile97.9%
Asset classStocks100%

Sector

Sector weights in FTQI and GPIQ, widest gap first
Sector	Gap	FTQI	GPIQ
Technology	GPIQ +7.9 points	47.8%	55.7%
Financials	FTQI +6.0 points	6.3%	0.3%
Health Care	FTQI +5.2 points	10.5%	5.3%
Consumer Staples	GPIQ +4.4 points	3.1%	7.5%
Communication	GPIQ +2.8 points	8.4%	11.2%
Energy	FTQI +2.3 points	2.7%	0.4%
Real Estate	FTQI +1.2 points	1.1%	0.0%
Consumer Discretionary	FTQI +0.7 points	12.6%	11.9%
Industrials	GPIQ +0.5 points	4.8%	5.3%
Utilities	FTQI +0.1 points	1.4%	1.3%
Materials	GPIQ +0.1 points	1.1%	1.2%

Country, concentration and asset class

Country by domicile

Country weights in FTQI and GPIQ, widest gap first
Country	Gap	FTQI	GPIQ
Canada	GPIQ +1.1 points	0.0%	1.1%
Netherlands	GPIQ +0.6 points	0.0%	0.6%
United Kingdom	FTQI +0.5 points	0.7%	0.2%
Other countries (8)	FTQI +1.2 points	99.3%	98.1%

Concentration

Weight in the 10 largest Holdings

FTQI43.1%
GPIQ47.2%

Securities held

FTQI174
GPIQ101

Asset class

FTQI: Stocks
GPIQ: Stocks

Holdings

Only in FTQI149
In both25
Only in GPIQ76

Only in FTQI

149 securities, 38.2% of FTQI by weight

AbbVie Inc.1.57%
CME Group Inc.1.16%
eBay Inc.1.01%
Medpace Holdings, Inc.0.88%
Woodward, Inc.0.80%
Expedia Group, Inc.0.80%
Illumina, Inc.0.73%
Equinix, Inc.0.72%
DocuSign, Inc.0.71%
Texas Roadhouse, Inc.0.68%
VeriSign, Inc.0.62%
Incyte Corporation0.62%
F5, Inc.0.62%
Caterpillar Inc.0.61%
Guardant Health, Inc.0.58%
J.B. Hunt Transport Services, Inc.0.57%
Casey's General Stores, Inc.0.56%
Interactive Brokers Group, Inc. (Class A)0.55%
argenx SE (ADR)0.53%
Alliant Energy Corporation0.52%
Royalty Pharma Plc (Class A)0.51%
InterDigital, Inc.0.51%
Robinhood Markets, Inc. (Class A)0.47%
Nasdaq, Inc.0.47%
Qualys, Inc.0.46%
GE Vernova Inc.0.45%
Commvault Systems, Inc.0.44%
GE Aerospace0.43%
Coca-Cola Consolidated, Inc.0.42%
BP p.l.c. (ADR)0.42%
Lincoln Electric Holdings, Inc.0.40%
Genmab A/S (ADR)0.40%
Nordson Corporation0.36%
Littelfuse, Inc.0.36%
Talen Energy Corporation0.34%
U.S. Bancorp0.34%
Evergy, Inc.0.34%
Natera, Inc.0.33%
The PNC Financial Services Group, Inc.0.32%
Dollar Tree, Inc.0.31%
SEI Investments Company0.31%
TotalEnergies SE0.30%
Cavco Industries, Inc.0.30%
Gen Digital Inc.0.29%
Arch Capital Group Ltd.0.29%
East West Bancorp, Inc.0.29%
HealthEquity, Inc.0.28%
Five Below, Inc.0.28%
The Coca-Cola Company0.26%
Northern Trust Corporation0.25%

Only in GPIQ

76 securities, 36.3% of GPIQ by weight

Walmart Inc2.87%
Space Exploration Technologies Corp.2.74%
Texas Instruments Inc.1.46%
Analog Devices Inc.1.17%
Linde PLC1.14%
Crowdstrike Holdings, Inc.1.11%
Qualcomm Inc0.93%
Shopify Inc.0.89%
Pepsico, Inc.0.85%
Intuitive Surgical, Inc.0.79%
American Electric Power Inc0.78%
Marvell Technology, Inc.0.74%
Automatic Data Processing Inc0.72%
Vertex Pharmaceuticals Incorporated0.63%
Starbucks Corp.0.62%
Marriott International, Inc0.62%
T-Mobile Us, Inc.0.59%
Moderna, Inc.0.52%
Airbnb Inc.0.51%
Mondelez International, Inc.0.48%
Nxp Semiconductors N.v.0.47%
Sandisk Corporation0.47%
Applovin Corporation0.47%
Cadence Design Systems Inc0.46%
Honeywell International Inc0.45%
Booking Holdings Inc.0.45%
Fortinet, Inc.0.45%
Monster Beverage Corporation0.45%
Synopsys Inc.0.45%
Regeneron Pharmaceutical Inc0.44%
Teradyne Inc0.43%
Cintas Corporation0.42%
Asml Holding N.v.-Adr0.42%
Csx Corporation0.41%
Ross Stores Inc0.40%
Intuit Inc0.39%
O'reilly Automotive, Inc.0.39%
Adobe Inc0.37%
Fastenal Company0.36%
Lumentum Holdings Inc.0.36%
Microchip Technology Incorporated0.34%
Pdd Holdings Inc-Adr0.33%
PayPal Holdings, Inc.0.33%
Datadog, Inc.0.32%
Constellation Energy Corp0.32%
Western Digital Corporation0.32%
Roper Technologies Inc0.31%
Doordash Inc0.30%
Strategy Inc0.28%
Rocket Lab Corporation0.27%

Weight gaps

All 25 Holdings in both funds, largest gap first.

Holding weights in FTQI and GPIQ, widest gap first
Holding	Gap	FTQI	GPIQ
Microsoft CorporationMSFT	GPIQ +5.17 points	1.64%	6.81%
Micron Technology, Inc.MU	GPIQ +1.80 points	1.69%	3.49%
Alphabet Inc. (Class A)GOOGL	GPIQ +1.64 points	1.82%	3.46%
NVIDIA CorporationNVDA	GPIQ +1.64 points	5.85%	7.49%
Cisco Systems, Inc.CSCO	FTQI +1.38 points	2.94%	1.56%
Advanced Micro Devices, Inc.AMD	FTQI +1.33 points	4.57%	3.24%
Broadcom Inc.AVGO	GPIQ +1.07 points	1.51%	2.58%
Apple Inc.AAPL	FTQI +0.96 points	9.65%	8.69%
Seagate Technology Holdings PlcSTX	FTQI +0.90 points	1.26%	0.36%
Palantir Technologies Inc. (Class A)PLTR	FTQI +0.64 points	2.48%	1.84%
Applied Materials, Inc.AMAT	GPIQ +0.63 points	0.90%	1.53%
Meta Platforms, Inc. (Class A)META	GPIQ +0.60 points	2.73%	3.33%
Costco Wholesale CorporationCOST	GPIQ +0.59 points	1.65%	2.24%
Gilead Sciences, Inc.GILD	FTQI +0.50 points	1.46%	0.96%
Intel CorporationINTC	GPIQ +0.50 points	0.61%	1.11%
KLA CorporationKLAC	FTQI +0.43 points	1.07%	0.64%
Tesla, Inc.TSLA	GPIQ +0.28 points	2.85%	3.13%
Amazon.com, Inc.AMZN	GPIQ +0.17 points	4.56%	4.73%
Netflix, Inc.NFLX	FTQI +0.17 points	1.19%	1.02%
Alphabet Inc. (Class C)GOOG	FTQI +0.14 points	1.83%	1.69%
Astera Labs, Inc.ALAB	FTQI +0.12 points	0.13%	<0.01%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.09 points	0.46%	0.55%
Palo Alto Networks, Inc.PANW	FTQI +0.07 points	1.33%	1.26%
Lam Research CorporationLRCX	FTQI +0.05 points	0.89%	0.84%
Amgen Inc.AMGN	GPIQ +0.05 points	1.13%	1.18%

All 181 FTQI holdings⁠All 104 GPIQ 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.

FTQI vs GPIQ Cost

Overpaying FTQI vs GPIQ

$8,530

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

FTQI 0.75%
$14,482
GPIQ 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

FTQI 0.75%
GPIQ 0.29%
Overpaying

Year by year

Year	FTQI	GPIQ	Overpaying
10	$1,336	$527	$809
20	$5,078	$2,044	$3,034
30	$14,482	$5,952	$8,530

Expense ratio

0.75%FTQI
0.29%GPIQ, cheaper

GPIQ0.29%FTQI0.75%

0.00%1.20%

Middle half of Nasdaq-100 Option Income funds
Median 0.71%

GPIQ 2nd cheapest of 30 funds

FTQI 17th cheapest of 30 funds

FTQI vs GPIQ Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FTQI 11.83%, better; GPIQ 10.89%
Payout (12M): FTQI $2.52; GPIQ $5.76
Last payment: FTQI $0.22; GPIQ $0.47
Ex-dividend: FTQI Oct 21, 2026; GPIQ Nov 2, 2026
Paid on: FTQI Oct 30, 2026; GPIQ Nov 6, 2026
Frequency: FTQI Monthly; GPIQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTQIMonthly · 46 paymentsAll FTQI payments⁠

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

FTQI vs GPIQ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTQI 9.2%, betterGPIQ 14.5%
Return per unit of riskSharpe ratio, 3 years: FTQI 1.41, betterGPIQ 1.21
Worst fallMax drawdown, 5 years: FTQI −19.4%GPIQ −21.1%since Oct 2023
Market sensitivityBeta, 5 years: FTQI 0.66GPIQ 1.16; Market = 1

FTQI and GPIQ in the news

All news⁠

ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026GPIQ
ETF Filings
Motley Fool files five Fool 100 ETFs, three for options income
Oct 9, 2026GPIQ
Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026GPIQ

Popular comparisons

FTQIAvsQQAA
First Trust Nasdaq BuyWrite Income ETF · Invesco QQQ Income Advantage ETF
Expense ratio
0.75% · 0.29%
Category
GPIQAvsQQQIA
Goldman Sachs Nasdaq-100 Premium Income ETF · NEOS Nasdaq-100 High Income ETF
Expense ratio
0.29% · 0.68%
Category
FTQIAvsQYLDA
First Trust Nasdaq BuyWrite Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.75% · 0.60%
Category
GPIQAvsJEPQA
Goldman Sachs Nasdaq-100 Premium Income ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.29% · 0.35%
Category
FTQIAvsJEPQA
First Trust Nasdaq BuyWrite Income ETF · JPMorgan Nasdaq Equity Premium Income ETF
Expense ratio
0.75% · 0.35%
Category
GPIQAvsQYLDA
Goldman Sachs Nasdaq-100 Premium Income ETF · Global X Nasdaq 100 Covered Call ETF
Expense ratio
0.29% · 0.60%
Category

FTQI vs GPIQ

In short

Stated mandate

Why people hold it