GPIQ vs QQQH: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

NEOS Nasdaq-100 Hedged Equity Income ETF

QQQHBNasdaq

Overlap

89.3%by weight

Expense ratio

GPIQ −0.39pt a year

GPIQ0.29%QQQH0.68%

Avg volume · 30D

GPIQ 42.7×the volume

GPIQ1.57MQQQH36.8K

3Y return · a year

GPIQ +3.2pt

GPIQ+23.2%QQQH+20.0%

GPIQ vs QQQH Performance

Oct 31, 2025 – Oct 30, 2026

+11.4%GPIQ+4.2%QQQH

Expense ratio: GPIQ 0.29%, better; QQQH 0.68%
Fund size: GPIQ $6.52B; QQQH $368M
1Y total return: GPIQ +11.4%, better; QQQH +4.2%
Yield (12M): GPIQ 10.62%, better; QQQH 9.28%
Holdings: GPIQ 102; QQQH 103
Avg volume (30D): GPIQ 1.57M sh, better; QQQH 36.8K sh
NAV per share: GPIQ $56.04; QQQH $52.85
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QQQH, with each pillar’s weight
Pillar	GPIQ	QQQH
Cost30% weight	A92Higher	C53
Mission25% weight	A100	Not scored
Risk15% weight	C52Higher	C47
Tradability15% weight	A73Higher	B57
Holdings10% weight	A85Higher	A84
Durability5% weight	A79Higher	A76

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QQQH 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 1st and QQQH 14th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 83
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 13BEDGQGlobal X Nasdaq-100 Income Edge ETFScore 61
Rank 14BQQQHNEOS Nasdaq-100 Hedged Equity Income ETFScore 58
Rank 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QQQHBNEOS Nasdaq-100 Hedged Equity Income 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.

QQQH Most Nasdaq-100 income funds just sell calls. QQQH spends part of that premium on a put spread, so the collar is built to cushion drawdowns as well as pay monthly. Downside cushion in, some upside out.

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.

QQQH The fund seeks high monthly income in a tax-efficient manner while providing a measure of downside protection. It uses Nasdaq-100 stocks together with a put-spread options collar.

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.

QQQH Three legs: sold calls, bought puts, sold lower puts. The prospectus targets a net credit, so premium pays for the hedge instead of the hedge eating the income.sec.gov
Owns the Nasdaq-100 stocks outright rather than renting exposure through swaps or another ETF, so share dividends stack on top of the index-option premium.sec.gov
Pays monthly with no advertised target rate, so the payout follows what the options market actually pays rather than a number set in marketing.
Live since 2019, first as NUSI, with NEOS taking it over in 2024. Real trading history through real drawdowns, not a backtest.neosfunds.com

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.

QQQH 0.68% sits right at the middle of the Nasdaq-100 income group. QQA (0.33%), JEPQ and GPIQ (0.35%) charge roughly half for their own spin on the trade.
Upside is capped by design. The prospectus says plainly that gains are limited, which is the price of the put spread underneath.sec.gov
Trades thinner than the category's giants, so limit orders earn their keep. Part of the distribution can be return of capital, which the fund discloses.

Full GPIQ profile⁠

Full QQQH profile⁠

GPIQ vs QQQH Holdings

How GPIQ and QQQH differ

Overlap by weight

89.3%

Shared holdings make up 97.4% of GPIQ and 94.5% of QQQH.

Level by level

Holdings95 in both89.3%
Sector10 Sectors97.2%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in GPIQ and QQQH, widest gap first
Sector	More in GPIQMore in QQQH	GPIQ	QQQH
Communication	GPIQ +1.5 points	12.6%	11.1%
Consumer Staples	QQQH +0.8 points	5.5%	6.3%
Industrials	GPIQ +0.9 points	5.1%	4.2%
Health Care	QQQH +0.8 points	3.8%	4.6%
Consumer Discretionary	QQQH +0.7 points	9.9%	10.6%
Technology	GPIQ +0.5 points	60.7%	60.2%
Utilities	QQQH +0.3 points	0.9%	1.2%
Materials	QQQH +0.1 points	0.9%	1.0%
Financials	Same weight	0.1%	0.2%
Energy	Same weight	0.5%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QQQH, widest gap first
Country	More in GPIQMore in QQQH	GPIQ	QQQH
United States	GPIQ +0.2 points	97.4%	97.2%
Canada	Same weight	1.1%	1.1%
Netherlands	QQQH +0.2 points	0.7%	0.9%
Brazil	QQQH +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

GPIQ46.4%
QQQH46.8%

Securities held

GPIQ101
QQQH103

Asset class

GPIQ: Equity
QQQH: Equity

Holdings

Only in GPIQ6
In both95
Only in QQQH8

Only in GPIQ

6 securities, 2.9% of GPIQ by weight

Linde PLC1.06%
Shopify Inc.0.90%
Nxp Semiconductors N.v.0.48%
Thomson Reuters Corporation0.20%
Coca-Cola European Partners PLC0.19%
Ferrovial NV0.09%

Only in QQQH

8 securities, 8.1% of QQQH by weight

Cash & Other3.74%
Ndx Us 12/18/26 P268001.59%
Linde PLC1.07%
Shopify Inc0.85%
NXP Semiconductors NV0.30%
Coca-Cola Europacific Partners PLC0.22%
Thomson Reuters Corp0.20%
Ferrovial NV0.17%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in GPIQ and QQQH, widest gap first
Holding	More in GPIQMore in QQQH	GPIQ	QQQH
Space Exploration Technologies Corp.SPCX	GPIQ +1.48 points	2.65%	1.17%
Alphabet Inc.GOOG	QQQH +0.87 points	1.59%	2.46%
Alphabet Inc.GOOGL	GPIQ +0.54 points	3.16%	2.62%
American Electric Power IncAEP	GPIQ +0.45 points	0.76%	0.31%
Applied Materials IncAMAT	GPIQ +0.43 points	1.79%	1.36%
Analog Devices Inc.ADI	GPIQ +0.40 points	1.32%	0.92%
Intel CorporationINTC	GPIQ +0.36 points	1.89%	1.53%
Lam Research CorporationLRCX	QQQH +0.35 points	0.96%	1.31%
Texas Instruments Inc.TXN	GPIQ +0.33 points	1.56%	1.23%
Teradyne IncTER	GPIQ +0.29 points	0.49%	0.20%
Walmart IncWMT	QQQH +0.28 points	2.36%	2.64%
Netflix, Inc.NFLX	QQQH +0.28 points	0.87%	1.15%
Kla CorpKLAC	QQQH +0.27 points	0.65%	0.92%
Broadcom Inc.AVGO	GPIQ +0.27 points	2.74%	2.47%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.25 points	0.52%	0.27%
Lumentum Holdings Inc.LITE	GPIQ +0.24 points	0.53%	0.29%
Microchip Technology IncorporatedMCHP	GPIQ +0.24 points	0.44%	0.20%
Marvell Technology, Inc.MRVL	GPIQ +0.23 points	1.01%	0.78%
Comcast CorporationCMCSA	QQQH +0.19 points	0.19%	0.38%
Exelon CorporationEXC	QQQH +0.18 points	0.05%	0.23%
Qualcomm IncQCOM	GPIQ +0.17 points	0.94%	0.77%
Xcel Energy Inc.XEL	QQQH +0.15 points	0.09%	0.24%
Meta Platforms Inc-Class AMETA	GPIQ +0.16 points	3.07%	2.91%
Palantir Technologies Inc.PLTR	GPIQ +0.15 points	2.02%	1.87%
Monster Beverage CorporationMNST	QQQH +0.14 points	0.28%	0.42%
Cisco Systems, Inc.CSCO	QQQH +0.14 points	1.67%	1.81%
Advanced Micro Devices Inc.AMD	GPIQ +0.14 points	3.74%	3.60%
Rocket Lab CorporationRKLB	GPIQ +0.13 points	0.28%	0.15%
Constellation Energy CorpCEG	QQQH +0.13 points	0.30%	0.43%
Automatic Data Processing IncADP	GPIQ +0.12 points	0.64%	0.52%
Airbnb Inc.ABNB	GPIQ +0.13 points	0.43%	0.30%
Seagate Technology Holdin PLCSTX	QQQH +0.12 points	0.54%	0.66%
Paychex, Inc.PAYX	QQQH +0.11 points	0.08%	0.19%
Booking Holdings Inc.BKNG	QQQH +0.11 points	0.39%	0.50%
Baker Hughes CoBKR	QQQH +0.10 points	0.14%	0.24%
Asml Holding N.v.-AdrASML	QQQH +0.10 points	0.56%	0.66%
Moderna, Inc.MRNA	GPIQ +0.10 points	0.42%	0.32%
Honeywell International IncHON	QQQH +0.10 points	0.20%	0.30%
Regeneron Pharmaceutical IncREGN	QQQH +0.10 points	0.34%	0.44%
Amazon.com IncAMZN	QQQH +0.10 points	4.05%	4.15%
Paccar IncPCAR	QQQH +0.10 points	0.14%	0.24%
Take Two Interactive SoftwareTTWO	QQQH +0.09 points	0.08%	0.17%
Amgen Inc.AMGN	QQQH +0.09 points	1.05%	1.14%
Applovin CorporationAPP	QQQH +0.08 points	0.23%	0.31%
Nebius Group NVNBIS	GPIQ +0.08 points	0.24%	0.16%
Coreweave, Inc.CRWV	GPIQ +0.08 points	0.19%	0.11%
Marriott International, IncMAR	GPIQ +0.08 points	0.56%	0.48%
Tesla Inc.TSLA	QQQH +0.08 points	3.23%	3.31%
Adobe IncADBE	QQQH +0.07 points	0.37%	0.44%
Autodesk, Inc.ADSK	QQQH +0.08 points	0.15%	0.23%
Fastenal CompanyFAST	GPIQ +0.08 points	0.34%	0.26%
Crowdstrike Holdings, Inc.CRWD	GPIQ +0.08 points	1.22%	1.14%
Gilead SciencesGILD	QQQH +0.07 points	0.88%	0.95%
Apple Inc.AAPL	QQQH +0.07 points	7.99%	8.06%
Arm Holdings Plc-AdrARM	QQQH +0.07 points	0.33%	0.40%
Strategy IncMSTR	GPIQ +0.07 points	0.25%	0.18%
Datadog, Inc.DDOG	GPIQ +0.07 points	0.43%	0.36%
Roper Technologies IncROP	GPIQ +0.06 points	0.27%	0.21%
Mondelez International, Inc.MDLZ	GPIQ +0.06 points	0.43%	0.37%
Vertex Pharmaceuticals IncorporatedVRTX	QQQH +0.07 points	0.58%	0.65%
Microsoft CorporationMSFT	GPIQ +0.07 points	6.25%	6.18%
Palo Alto Networks Inc.PANW	GPIQ +0.06 points	1.39%	1.33%
Pdd Holdings Inc-AdrPDD	GPIQ +0.06 points	0.31%	0.25%
Astera Labs, Inc.ALAB	QQQH +0.06 points	0.14%	0.20%
Axon Enterprise, Inc.AXON	QQQH +0.06 points	0.11%	0.17%
PayPal Holdings, Inc.PYPL	GPIQ +0.06 points	0.28%	0.22%
Mercadolibre, Inc.MELI	QQQH +0.05 points	0.33%	0.38%
Csx CorporationCSX	QQQH +0.05 points	0.39%	0.44%
NVIDIA CorporationNVDA	QQQH +0.05 points	7.82%	7.87%
Starbucks Corp.SBUX	GPIQ +0.05 points	0.59%	0.54%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.05 points	0.22%	0.17%
Doordash IncDASH	QQQH +0.05 points	0.28%	0.33%
Pepsico, Inc.PEP	GPIQ +0.05 points	0.90%	0.85%
Honeywell Aerospace Inc.HONA	QQQH +0.04 points	0.18%	0.22%
Keurig Dr Pepper IncKDP	QQQH +0.04 points	0.19%	0.23%
O'reilly Automotive, Inc.ORLY	GPIQ +0.04 points	0.38%	0.34%
Intuitive Surgical, Inc.ISRG	GPIQ +0.04 points	0.72%	0.68%
Ross Stores IncROST	GPIQ +0.04 points	0.38%	0.34%
Sandisk CorporationSNDK	GPIQ +0.04 points	0.79%	0.75%
Intuit IncINTU	QQQH +0.04 points	0.39%	0.43%
Fortinet, Inc.FTNT	GPIQ +0.04 points	0.50%	0.46%
Diamondback Energy IncFANG	QQQH +0.03 points	0.23%	0.26%
T-Mobile Us, Inc.TMUS	GPIQ +0.03 points	0.78%	0.75%
Costco Wholesale CorporationCOST	GPIQ +0.03 points	2.00%	1.97%
Synopsys Inc.SNPS	GPIQ +0.03 points	0.44%	0.41%
Workday, Inc.WDAY	GPIQ +0.03 points	0.20%	0.17%
Cadence Design Systems IncCDNS	GPIQ +0.02 points	0.44%	0.42%
Dexcom, Inc.DXCM	GPIQ +0.02 points	0.17%	0.15%
Idexx LaboratoriesIDXX	QQQH +0.02 points	0.19%	0.21%
Micron Technology, Inc.MU	GPIQ +0.01 points	4.41%	4.40%
Cintas CorporationCTAS	QQQH +0.01 points	0.39%	0.40%
Alnylam Pharmaceuticals Inc.ALNY	GPIQ +0.01 points	0.11%	0.10%
Copart, Inc.CPRT	GPIQ +0.01 points	0.15%	0.14%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.01 points	0.18%	0.17%
Western Digital CorporationWDC	Same weight	0.50%	0.50%

All 106 GPIQ holdings⁠All QQQH 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 QQQH Cost

Overpaying QQQH vs GPIQ

$7,300

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

GPIQ 0.29%
$5,952
QQQH 0.68%
$13,252

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QQQH 0.68%
Overpaying

Year by year

Year	GPIQ	QQQH	Overpaying
10	$527	$1,215	$688
20	$2,044	$4,633	$2,589
30	$5,952	$13,252	$7,300

Expense ratio

0.29%GPIQ, cheaper
0.68%QQQH

GPIQ0.29%QQQH0.68%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QQQH 13th cheapest of 30 funds

GPIQ vs QQQH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GPIQ 10.62%, better; QQQH 9.28%
Payout (12M): GPIQ $5.77; QQQH $4.91
Last payment: GPIQ $0.51; QQQH $0.41
Ex-dividend: GPIQ Oct 1, 2026; QQQH Oct 28, 2026
Paid on: GPIQ Oct 7, 2026; QQQH Oct 30, 2026
Frequency: GPIQ Monthly; QQQH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 35 paymentsAll GPIQ payments⁠

QQQHMonthly · 46 paymentsAll QQQH payments⁠

GPIQ vs QQQH 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%QQQH 11.0%, better
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21QQQH 1.33, better
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QQQH −52.7%
Market sensitivityBeta, 5 years: GPIQ 1.16QQQH 0.78; Market = 1

GPIQ and QQQH 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
ETF Filings
Tidal Trust II files to register a Nasdaq-100 fund that would budget 6% for puts
Oct 1, 2026QQQH

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GPIQ vs QQQH

In short

Stated mandate

Why people hold it