GPIQ vs QDTE

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QDTECRoundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETF

In short

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.

QDTE The original 0DTE income ETF: QDTE sells same-day Nasdaq-100 calls every morning and hands the premium to shareholders weekly. Cash on a fast clock, with each session's upside capped in exchange.

Stated mandate

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.

QDTE The Fund primarily seeks current income and secondarily seeks capital appreciation through a synthetic covered-call strategy that combines long exposure to the Innovation-100 Index with recurring 0DTE call sales.

Why people hold it

• 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.

• QDTE Launched in March 2024 as the first ETF writing zero-days-to-expiry calls on the Nasdaq-100, it is now a sizable, actively traded fund rather than a thin novelty.roundhillinvestments.com
• Pays weekly, not monthly. Calls are sold at or shortly after the open every business day, so premium is collected on a daily cycle.roundhillinvestments.com
• Synthetic long options positions supply Nasdaq-100 price exposure, and the calls written against them are out-of-the-money, leaving a sliver of intraday upside.roundhillinvestments.comroundhillinvestments.com 2

Worth knowing

• 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.

• QDTE The 0.96% fee sits above the category median and above peers like JEPQ (0.35%) and GPIQ (0.29% net of a waiver through April 30, 2027).
• Payouts can exceed income and gains, and the prospectus discloses that the excess is return of capital, which reduces your cost basis.roundhillinvestments.com
• Selling calls every morning caps each day's gain while downside exposure to the index stays, so income comes at the cost of upside participation.roundhillinvestments.com

Full GPIQ profile⁠

Full QDTE profile⁠