Skip to content
etf.net

GPIQ vs QGRD

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Horizon Nasdaq-100 Defined Risk ETF

QGRDDNasdaq

Overlap

Expense ratio

GPIQ −0.56pt a year

GPIQ0.29%QGRD0.85%

Avg volume · 30D

GPIQ 43.3×the volume

GPIQ1.66MQGRD38.3K

GPIQ vs QGRD Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%GPIQ+4.3%QGRD

Nov 7, 2025 to Nov 9, 2026. GPIQ +12.2%. QGRD +4.3%. Use the arrow keys to read each point.−5%0%20%25%Nov 2025May 2026Nov 2026
Expense ratio
GPIQ 0.29%, better
QGRD 0.85%
Fund size
GPIQ $6.2B
QGRD $162M
1Y total return
GPIQ +12.2%, better
QGRD +4.3%
Yield (12M)
GPIQ 10.89%
QGRD No data
Holdings
GPIQ 102
QGRD 7
Avg volume (30D)
GPIQ 1.66M sh, better
QGRD 38.3K sh
NAV per share
GPIQ $51.24
QGRD $27.50
52W range

ETF.net Grade

GPIQ: Cost 92, Risk 51, Mission 100, Tradability 62, Holdings 73, Durability 79. QGRD: Cost 33, Risk 56, Mission not scored, Tradability 41, Holdings not scored, Durability 35.
Pillar letters and Scores for GPIQ, QGRD, with each pillar’s weight
PillarGPIQQGRD
Cost30% weightA92HigherD33
Mission25% weightA100Not scored
Risk15% weightC51B56Higher
Tradability15% weightB62HigherC41
Holdings10% weightA73Not scored
Durability5% weightA79HigherD35

Rank among Nasdaq-100 Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. GPIQ and QGRD 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 QGRD 22nd of 30 funds in the Nasdaq-100 Option Income Category.

  1. Rank 1AQQAInvesco QQQ Income Advantage ETFScore 82
  2. Rank 2AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 80
  3. Rank 2AQYLDGlobal X Nasdaq 100 Covered Call ETFScore 80
  4. Rank 21CCANQCalamos Nasdaq Equity & Income ETFScore 43
  5. Rank 22DQGRDHorizon Nasdaq-100 Defined Risk ETFScore 40
  6. Rank 23CQDTERoundhill Nasdaq-100 0DTE Covered Call ETF Strategy ETFScore 38

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QGRDDHorizon Nasdaq-100 Defined Risk 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.

QGRD Most Nasdaq-100 options funds are built around selling calls. QGRD runs an actively managed collar on FLEX options tied to the same index, spending some upside to fund an explicit downside cushion.

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.

QGRD The fund seeks capital appreciation and capital preservation. It primarily uses FLEX options tied to the Nasdaq-100 and actively managed collars to pursue exposure while generating income, managing volatility, and reducing downside risk.

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.
  • QGRD Protection is in the mechanics, not the marketing: FLEX options on the Nasdaq-100 wrapped in a collar, pairing sold calls with a protective put leg aimed at blunting drawdowns.
  • The collar is actively managed, so strikes and hedges can be adjusted as volatility shifts rather than locked to one fixed formula.
  • Dual mandate, unusual for this group: it targets capital appreciation and capital preservation, with income as one tool rather than the headline number.

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.
  • QGRD At 0.85% it sits above the typical fee in the Nasdaq-100 options-income group, where QQA charges 0.33% and JEPQ 0.35%.
  • A 2025 launch that trades lightly, so the live record is short and spreads can run wider than at the cohort's largest names.
  • Payouts follow an annual or semiannual schedule, so this is not a monthly-income vehicle.

Full GPIQ profile⁠

Full QGRD profile⁠

GPIQ vs QGRD 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.

GPIQ vs QGRD Cost

Overpaying QGRD vs GPIQ

$10,247

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

  • GPIQ 0.29%

    $5,952

  • QGRD 0.85%

    $16,199

$10,000
30 years

Cost over time

  • GPIQ 0.29%
  • QGRD 0.85%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530QGRD $16,199GPIQ $5,952

Year by year

YearGPIQQGRDOverpaying
10$527$1,508$981
20$2,044$5,706$3,662
30$5,952$16,199$10,247

Expense ratio

  • 0.29%GPIQ, cheaper
  • 0.85%QGRD
  • Middle half of Nasdaq-100 Option Income funds
  • Median 0.71%

GPIQ 2nd cheapest of 30 funds

QGRD 20th cheapest of 30 funds

GPIQ vs QGRD Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
GPIQ 10.89%
QGRD No data
Payout (12M)
GPIQ $5.76
QGRD No data
Last payment
GPIQ $0.47
QGRD $0.42
Ex-dividend
GPIQ Nov 2, 2026
QGRD Dec 24, 2025
Paid on
GPIQ Nov 6, 2026
QGRD Dec 26, 2025
Frequency
GPIQ Monthly
QGRD Irregular

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠
One bar per payment. 36 payments from 2023 to 2026 YTD. Dec 4, 2023 $0.38; Dec 28, 2023 $0.39; Feb 2, 2024 $0.39; Mar 4, 2024 $0.40; Apr 2, 2024 $0.41; May 2, 2024 $0.39; Jun 4, 2024 $0.41; Jul 2, 2024 $0.42; Aug 2, 2024 $0.41; Sep 4, 2024 $0.41; Oct 2, 2024 $0.42; Nov 4, 2024 $0.41; Dec 3, 2024 $0.43; Jan 3, 2025 $0.43; Feb 3, 2025 $0.44; Mar 3, 2025 $0.41; Apr 1, 2025 $0.39; May 1, 2025 $0.39; Jun 2, 2025 $0.41; Jul 1, 2025 $0.43; Aug 1, 2025 $0.44; Sep 2, 2025 $0.44; Oct 1, 2025 $0.46; Nov 3, 2025 $0.47; Dec 1, 2025 $0.47; Jan 2, 2026 $0.46; Feb 2, 2026 $0.47; Mar 2, 2026 $0.45; Apr 1, 2026 $0.43; May 1, 2026 $0.48; Jun 1, 2026 $0.52; Jul 1, 2026 $0.52; Aug 3, 2026 $0.49; Sep 1, 2026 $0.50; Oct 1, 2026 $0.51; Nov 2, 2026 $0.47. Use the arrow keys to read each point.$0$0.5020232026YTD
QGRDIrregular · 1 paymentAll QGRD payments⁠
One bar per payment. 1 payment from 2023 to 2026 YTD. Dec 24, 2025 $0.42. Use the arrow keys to read each point.$0$0.5020232026YTD

GPIQ vs QGRD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GPIQ 14.5%QGRD 16.2%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
GPIQ 1.21QGRD 0.47since Aug 2025
Worst fallMax drawdown, 5 years
GPIQ −21.1%since Oct 2023QGRD −11.0%since Jul 2025
Market sensitivityBeta, 5 years
GPIQ 1.16QGRD 0.94

GPIQ and QGRD in the news

All news⁠

Popular comparisons

  • GPIQAvsQQQIA

    Goldman Sachs Nasdaq-100 Premium Income ETF · NEOS Nasdaq-100 High Income ETF

    Expense ratio
    0.29% · 0.68%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QGRDDvsQQAA

    Horizon Nasdaq-100 Defined Risk ETF · Invesco QQQ Income Advantage ETF

    Expense ratio
    0.85% · 0.29%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • GPIQAvsJEPQA

    Goldman Sachs Nasdaq-100 Premium Income ETF · JPMorgan Nasdaq Equity Premium Income ETF

    Expense ratio
    0.29% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QGRDDvsQYLDA

    Horizon Nasdaq-100 Defined Risk ETF · Global X Nasdaq 100 Covered Call ETF

    Expense ratio
    0.85% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • GPIQAvsQYLDA

    Goldman Sachs Nasdaq-100 Premium Income ETF · Global X Nasdaq 100 Covered Call ETF

    Expense ratio
    0.29% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • QGRDDvsJEPQA

    Horizon Nasdaq-100 Defined Risk ETF · JPMorgan Nasdaq Equity Premium Income ETF

    Expense ratio
    0.85% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.