GPIQ vs QQA: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Invesco QQQ Income Advantage ETF

QQAANasdaq

Overlap

71.6%by weight

Expense ratio

GPIQ0.29%QQA0.29%

Avg volume · 30D

GPIQ 13.3×the volume

GPIQ1.66MQQA124K

GPIQ vs QQA Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%GPIQ+10.3%QQA

Expense ratio: GPIQ 0.29%; QQA 0.29%
Fund size: GPIQ $6.2B; QQA $842M
1Y total return: GPIQ +12.2%, better; QQA +10.3%
Yield (12M): GPIQ 10.89%, better; QQA 10.66%
Holdings: GPIQ 102; QQA 123
Avg volume (30D): GPIQ 1.66M sh, better; QQA 124K sh
NAV per share: GPIQ $51.24; QQA $51.08
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QQA, with each pillar’s weight
Pillar	GPIQ	QQA
Cost30% weight	A92	A92
Mission25% weight	A100	A100
Risk15% weight	C51	B62Higher
Tradability15% weight	B62	B64Higher
Holdings10% weight	A73	A73
Durability5% weight	A79Higher	A74

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QQA 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 ›

QQA ranks 1st and GPIQ 2nd 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

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QQAAInvesco QQQ Income Advantage 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.

QQA Most Nasdaq-100 income funds write calls on the whole portfolio. QQA overlays options on roughly half, pairs covered calls with cash-secured puts, and ladders them, so a chunk of the index upside stays uncapped.

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.

QQA Actively managed QQA combines Nasdaq-100 equity exposure with an options-income overlay. It seeks consistent monthly income, long-term capital growth, and lower volatility without leverage.

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.

QQA The income sleeve covers roughly 50% of the portfolio; the rest stays uncapped Nasdaq-100. Premium comes from both covered calls and cash-secured puts, not calls alone.invesco.com
0.29% net of a waiver through August 31, 2027 (0.33% gross), below the category median. GPIQ matches at 0.29%, also net of a waiver, through April 30, 2027; QYLD charges 0.60%, JEPQ 0.35%.
Options are added and rolled on a schedule rather than set all at once, which spreads entry points instead of pinning the month's income to a single expiry.invesco.com
Actively managed, so strikes and coverage can move with market conditions, and it pays monthly.

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.

QQA The flip side of premium: upside on the covered portion is capped, so a fast Nasdaq-100 rally is one this fund is built to lag.invesco.com
No declared target yield. Monthly payouts ride on option premiums, which rise and fall with volatility.
Mid-sized and moderately traded next to the category's largest names, so spreads can widen. Limit orders earn their keep.

Full GPIQ profile⁠

Full QQA profile⁠

GPIQ vs QQA Holdings

How GPIQ and QQA differ

Overlap by weight

71.6%

Shared holdings make up 97.0% of GPIQ and 72.6% of QQA.

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

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

Level by level

Holdings95 in both71.6%
Sector10 Sectors98.9%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in GPIQ and QQA, widest gap first
Sector	Gap	GPIQ	QQA
Communication	QQA +0.9 points	11.2%	12.1%
Technology	GPIQ +0.8 points	55.7%	54.9%
Energy	QQA +0.1 points	0.4%	0.5%
Consumer Discretionary	GPIQ +0.1 points	11.9%	11.8%
Industrials	QQA +0.1 points	5.3%	5.4%
Utilities	GPIQ +0.1 points	1.3%	1.2%
Financials	GPIQ +0.1 points	0.3%	0.2%
Consumer Staples	Same weight	7.5%	7.5%
Health Care	GPIQ +0.1 points	5.3%	5.2%
Materials	Same weight	1.2%	1.2%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QQA, widest gap first
Country	Gap	GPIQ	QQA
United States	GPIQ +0.2 points	97.5%	97.3%
Canada	GPIQ +0.1 points	1.1%	1.0%
Netherlands	QQA +0.2 points	0.6%	0.8%
Brazil	QQA +0.1 points	0.3%	0.4%
China	Same weight	0.3%	0.3%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

GPIQ47.2%
QQA54.0%

Securities held

GPIQ101
QQA122

Asset class

GPIQ: Stocks
QQA: Stocks

Holdings

Only in GPIQ6
In both95
Only in QQA27

Only in GPIQ

6 securities, 3.0% of GPIQ by weight

Linde PLC1.14%
Shopify Inc.0.89%
Nxp Semiconductors N.v.0.47%
Coca-Cola European Partners PLC0.21%
Thomson Reuters Corporation0.21%
Ferrovial NV0.11%

Only in QQA

27 securities, 27.3% of QQA by weight

Invesco Premier US Government Money Portfolio21.00%
Linde PLC0.84%
Shopify Inc0.64%
Toronto-Dominion Bank/The 148.80% 11/30/20260.35%
Royal Bank of Canada 163.05% 11/27/20260.33%
Wells Fargo & Co 119.39% 12/10/20260.30%
Canadian Imperial Bank of Commerce 143.00% 12/03/20260.29%
Citigroup Inc 154.75% 12/01/20260.28%
Royal Bank of Canada 171.13% 11/25/20260.28%
JPMorgan Chase & Co 140.94% 12/04/20260.26%
NXP Semiconductors NV0.22%
Wells Fargo & Co 185.69% 11/24/20260.21%
Wells Fargo & Co 187.87% 11/23/20260.21%
UBS Group AG 132.90% 12/09/20260.20%
UBS Group AG 215.53% 11/20/20260.18%
Coca-Cola Europacific Partners PLC0.18%
UBS Group AG 222.11% 11/16/20260.16%
UBS Group AG 215.54% 11/16/20260.16%
Royal Bank of Canada 210.38% 11/19/20260.15%
Royal Bank of Canada 210.42% 11/18/20260.15%
Ferrovial NV0.15%
Thomson Reuters Corp0.15%
BNP Paribas SA 205.15% 11/17/20260.14%
Citigroup Inc 136.47% 12/07/20260.14%
Carnival Corp Ltd0.13%
Wells Fargo & Co 234.39% 11/13/20260.10%
UBS Group AG 255.80% 11/12/20260.10%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in GPIQ and QQA, widest gap first
Holding	Gap	GPIQ	QQA
Apple Inc.AAPL	GPIQ +2.29 points	8.69%	6.40%
Microsoft CorporationMSFT	GPIQ +1.77 points	6.81%	5.04%
NVIDIA CorporationNVDA	GPIQ +1.73 points	7.49%	5.76%
Alphabet Inc.GOOGL	GPIQ +1.32 points	3.46%	2.14%
Amazon.com IncAMZN	GPIQ +1.15 points	4.73%	3.58%
Meta Platforms Inc-Class AMETA	GPIQ +1.01 points	3.33%	2.32%
Broadcom Inc.AVGO	GPIQ +0.79 points	2.58%	1.79%
Micron Technology, Inc.MU	GPIQ +0.74 points	3.49%	2.75%
Tesla Inc.TSLA	GPIQ +0.72 points	3.13%	2.41%
Walmart IncWMT	GPIQ +0.71 points	2.87%	2.16%
Space Exploration Technologies Corp.SPCX	GPIQ +0.70 points	2.74%	2.04%
Advanced Micro Devices Inc.AMD	GPIQ +0.65 points	3.24%	2.59%
Applied Materials IncAMAT	GPIQ +0.60 points	1.53%	0.93%
Costco Wholesale CorporationCOST	GPIQ +0.59 points	2.24%	1.65%
Texas Instruments Inc.TXN	GPIQ +0.56 points	1.46%	0.90%
Analog Devices Inc.ADI	GPIQ +0.55 points	1.17%	0.62%
American Electric Power IncAEP	GPIQ +0.54 points	0.78%	0.24%
Palantir Technologies Inc.PLTR	GPIQ +0.54 points	1.84%	1.30%
Palo Alto Networks Inc.PANW	GPIQ +0.36 points	1.26%	0.90%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.34 points	0.55%	0.21%
Crowdstrike Holdings, Inc.CRWD	GPIQ +0.33 points	1.11%	0.78%
Alphabet Inc.GOOG	QQA +0.32 points	1.69%	2.01%
Teradyne IncTER	GPIQ +0.31 points	0.43%	0.12%
Qualcomm IncQCOM	GPIQ +0.32 points	0.93%	0.61%
Marvell Technology, Inc.MRVL	GPIQ +0.30 points	0.74%	0.44%
Amgen Inc.AMGN	GPIQ +0.30 points	1.18%	0.88%
Automatic Data Processing IncADP	GPIQ +0.29 points	0.72%	0.43%
Cisco Systems, Inc.CSCO	GPIQ +0.25 points	1.56%	1.31%
Marriott International, IncMAR	GPIQ +0.24 points	0.62%	0.38%
Airbnb Inc.ABNB	GPIQ +0.23 points	0.51%	0.28%
Gilead SciencesGILD	GPIQ +0.23 points	0.96%	0.73%
Intuitive Surgical, Inc.ISRG	GPIQ +0.23 points	0.79%	0.56%
Microchip Technology IncorporatedMCHP	GPIQ +0.23 points	0.34%	0.11%
Honeywell International IncHON	GPIQ +0.20 points	0.45%	0.25%
Starbucks Corp.SBUX	GPIQ +0.20 points	0.62%	0.42%
Lumentum Holdings Inc.LITE	GPIQ +0.19 points	0.36%	0.17%
Mondelez International, Inc.MDLZ	GPIQ +0.18 points	0.48%	0.30%
Pepsico, Inc.PEP	GPIQ +0.17 points	0.85%	0.68%
Rocket Lab CorporationRKLB	GPIQ +0.16 points	0.27%	0.11%
Moderna, Inc.MRNA	GPIQ +0.16 points	0.52%	0.36%
Cadence Design Systems IncCDNS	GPIQ +0.15 points	0.46%	0.31%
Fastenal CompanyFAST	GPIQ +0.15 points	0.36%	0.21%
PayPal Holdings, Inc.PYPL	GPIQ +0.15 points	0.33%	0.18%
Vertex Pharmaceuticals IncorporatedVRTX	GPIQ +0.14 points	0.63%	0.49%
Synopsys Inc.SNPS	GPIQ +0.15 points	0.45%	0.30%
Fortinet, Inc.FTNT	GPIQ +0.14 points	0.45%	0.31%
Roper Technologies IncROP	GPIQ +0.14 points	0.31%	0.17%
Ross Stores IncROST	GPIQ +0.14 points	0.40%	0.26%
Pdd Holdings Inc-AdrPDD	GPIQ +0.13 points	0.33%	0.20%
Monster Beverage CorporationMNST	GPIQ +0.13 points	0.45%	0.32%
O'reilly Automotive, Inc.ORLY	GPIQ +0.13 points	0.39%	0.26%
Regeneron Pharmaceutical IncREGN	GPIQ +0.12 points	0.44%	0.32%
Datadog, Inc.DDOG	GPIQ +0.11 points	0.32%	0.21%
Strategy IncMSTR	GPIQ +0.11 points	0.28%	0.17%
Exelon CorporationEXC	QQA +0.12 points	0.05%	0.17%
Astera Labs, Inc.ALAB	QQA +0.11 points	<0.01%	0.12%
Cintas CorporationCTAS	GPIQ +0.11 points	0.42%	0.31%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.10 points	0.22%	0.12%
Coreweave, Inc.CRWV	GPIQ +0.10 points	0.18%	0.08%
Nebius Group NVNBIS	GPIQ +0.10 points	0.21%	0.11%
Csx CorporationCSX	GPIQ +0.09 points	0.41%	0.32%
Netflix, Inc.NFLX	GPIQ +0.09 points	1.02%	0.93%
Diamondback Energy IncFANG	GPIQ +0.08 points	0.26%	0.18%
Workday, Inc.WDAY	GPIQ +0.08 points	0.21%	0.13%
Dexcom, Inc.DXCM	GPIQ +0.07 points	0.18%	0.11%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.07 points	0.20%	0.13%
Alnylam Pharmaceuticals Inc.ALNY	QQA +0.06 points	<0.01%	0.07%
Keurig Dr Pepper IncKDP	GPIQ +0.06 points	0.24%	0.18%
Intel CorporationINTC	GPIQ +0.06 points	1.11%	1.04%
Idexx LaboratoriesIDXX	GPIQ +0.06 points	0.25%	0.19%
Intuit IncINTU	GPIQ +0.06 points	0.39%	0.33%
Mercadolibre, Inc.MELI	QQA +0.05 points	0.22%	0.27%
Paccar IncPCAR	QQA +0.06 points	0.13%	0.19%
Xcel Energy Inc.XEL	GPIQ +0.05 points	0.23%	0.18%
Asml Holding N.v.-AdrASML	QQA +0.05 points	0.42%	0.47%
Paychex, Inc.PAYX	QQA +0.05 points	0.10%	0.15%
Lam Research CorporationLRCX	QQA +0.05 points	0.84%	0.89%
Applovin CorporationAPP	GPIQ +0.05 points	0.47%	0.42%
Baker Hughes CoBKR	QQA +0.05 points	0.12%	0.17%
Doordash IncDASH	GPIQ +0.04 points	0.30%	0.26%
Sandisk CorporationSNDK	GPIQ +0.04 points	0.47%	0.43%
Comcast CorporationCMCSA	QQA +0.04 points	0.27%	0.30%
Adobe IncADBE	GPIQ +0.03 points	0.37%	0.34%
Arm Holdings Plc-AdrARM	QQA +0.03 points	0.24%	0.27%
T-Mobile Us, Inc.TMUS	QQA +0.02 points	0.59%	0.61%
Autodesk, Inc.ADSK	GPIQ +0.03 points	0.22%	0.19%
Booking Holdings Inc.BKNG	GPIQ +0.02 points	0.45%	0.43%
Take Two Interactive SoftwareTTWO	QQA +0.02 points	0.12%	0.14%
Honeywell Aerospace Inc.HONA	GPIQ +0.02 points	0.19%	0.17%
Western Digital CorporationWDC	QQA +0.02 points	0.32%	0.34%
Copart, Inc.CPRT	Same weight	0.10%	0.10%
Constellation Energy CorpCEG	GPIQ +0.01 points	0.32%	0.31%
Seagate Technology Holdin PLCSTX	QQA +0.01 points	0.36%	0.37%
Kla CorpKLAC	Same weight	0.64%	0.64%
Axon Enterprise, Inc.AXON	Same weight	0.09%	0.09%

All 104 GPIQ holdings⁠All 122 QQA 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 QQA Cost

Same expense ratio

$5,952

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

GPIQ 0.29%
$5,952
QQA 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QQA 0.29%

Year by year

Year	GPIQ	QQA
10	$527	$527
20	$2,044	$2,044
30	$5,952	$5,952

Expense ratio

0.29%GPIQ
0.29%QQA

GPIQ0.29%QQA0.29%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QQA 2nd cheapest of 30 funds

GPIQ vs QQA Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIQ 10.89%, better; QQA 10.66%
Payout (12M): GPIQ $5.76; QQA $5.62
Last payment: GPIQ $0.47; QQA $0.47
Ex-dividend: GPIQ Nov 2, 2026; QQA Oct 19, 2026
Paid on: GPIQ Nov 6, 2026; QQA Oct 23, 2026
Frequency: GPIQ Monthly; QQA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

QQAMonthly · 27 paymentsAll QQA payments⁠

GPIQ vs QQA 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%QQA 13.1%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21QQA 0.91since Aug 2024
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QQA −19.7%since Jul 2024
Market sensitivityBeta, 5 years: GPIQ 1.16QQA 0.96; Market = 1

GPIQ and QQA 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

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