GPIQ vs QDTY

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QDTYDYieldMax Nasdaq 100 0DTE Covered Call 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.

QDTY YieldMax's Nasdaq 100 income play: synthetic exposure to the index with call options sold against it that expire the same day. Premium harvested on a daily cycle rather than the usual monthly options rhythm.

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.

QDTY QDTY is actively managed and seeks current income plus exposure to the Nasdaq 100 Index's price return through a synthetic covered-call strategy.

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.

• QDTY The mechanism is right in the name: zero-days-to-expiry calls written against synthetic Nasdaq 100 exposure, so premium is collected on a daily options cycle.
• Actively managed with a tight brief: current income plus the Nasdaq 100's price return. Independent review finds it sticking closely to that stated mandate.
• Income arrives on a weekly schedule under the fund's stated policy, a faster drumbeat than the monthly cadence common across index covered-call funds.

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.

• QDTY Costs 1.17% a year, against a 0.68% median for Nasdaq 100 income funds. Scaled rivals like JEPQ and GPIQ run 0.35%.
• Selling calls trades away upside for premium, and the synthetic structure means you hold an options position on the index, not the 100 companies themselves.
• Launched in 2025 and still small and thinly traded, so the track record is short and spreads can be wider than at the category's giants.

Full GPIQ profile⁠

Full QDTY profile⁠