GPIQ vs QQQI: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

NEOS Nasdaq-100 High Income ETF

QQQIANasdaq

Overlap

90.0%by weight

Expense ratio

GPIQ −0.39pt a year

GPIQ0.29%QQQI0.68%

Avg volume · 30D

QQQI 3.0×the volume

GPIQ1.66MQQQI5.02M

GPIQ vs QQQI Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%GPIQ+8.6%QQQI

Expense ratio: GPIQ 0.29%, better; QQQI 0.68%
Fund size: GPIQ $6.2B; QQQI $14.3B
1Y total return: GPIQ +12.2%, better; QQQI +8.6%
Yield (12M): GPIQ 10.89%; QQQI 14.96%, better
Holdings: GPIQ 102; QQQI 102
Avg volume (30D): GPIQ 1.66M sh; QQQI 5.02M sh, better
NAV per share: GPIQ $51.24; QQQI $49.50
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QQQI, with each pillar’s weight
Pillar	GPIQ	QQQI
Cost30% weight	A92Higher	C53
Mission25% weight	A100Higher	A89
Risk15% weight	C51	C53Higher
Tradability15% weight	B62	A98Higher
Holdings10% weight	A73	A89Higher
Durability5% weight	A79Higher	A77

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QQQI 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 QQQI 6th 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
Rank 5AQYLGGlobal X Nasdaq 100 Covered Call & Growth ETFScore 76
Rank 6AQQQINEOS Nasdaq-100 High Income ETFScore 73
Rank 7ABALQiShares Nasdaq Premium Income Active ETFScore 72

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QQQIANEOS Nasdaq-100 High 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.

QQQI A Nasdaq-100 income fund built around the tax code: it holds the index's stocks and sells NDX index options that qualify as Section 1256 contracts, taxed 60/40 long/short term, then pays monthly. Launched 2024, now a multi-billion-dollar fund.

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.

QQQI The Fund seeks high monthly income in a tax-efficient manner while allowing for equity appreciation. It invests in Nasdaq-100 constituents and uses NDX call options, including written calls and possible call spreads, to generate option-premium income.

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.

QQQI Income engine runs on index options treated as Section 1256 contracts (60% long-term, 40% short-term rates), with managers also hunting tax-loss harvesting opportunities.neosfunds.com neosfunds.com 2
Not a plain covered-call sleeve: the strategy can buy out-of-the-money NDX calls against the ones it sells, leaving room to capture part of a Nasdaq-100 rise.neosfunds.com
Pays monthly, trades very actively, and is one of the larger funds in the Nasdaq-100 income aisle, so getting in and out is rarely the hard part.
Does what the label says: Nasdaq-100 constituents plus an NDX call program, run actively rather than on a fixed monthly formula.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.

QQQI Costs 0.68% a year. That matches the cohort median, but the biggest rivals run cheaper: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
Distributions have been classified as return of capital. That can defer tax, but it also trims your cost basis; the 19a-1 notices show the breakdown.neosfunds.com
Written calls trade away part of a big Nasdaq-100 rally, and the fund only opened in January 2024, so its record spans one market regime.neosfunds.com

Full GPIQ profile⁠

Full QQQI profile⁠

GPIQ vs QQQI Holdings

How GPIQ and QQQI differ

Overlap by weight

90.0%

Shared holdings make up 97.0% of GPIQ and 95.3% of QQQI.

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

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

Level by level

Holdings95 in both90.0%
Sector10 Sectors98.9%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in GPIQ and QQQI, widest gap first
Sector	Gap	GPIQ	QQQI
Communication	QQQI +0.9 points	11.2%	12.1%
Technology	GPIQ +0.6 points	55.7%	55.1%
Industrials	GPIQ +0.2 points	5.3%	5.1%
Energy	QQQI +0.1 points	0.4%	0.5%
Health Care	GPIQ +0.1 points	5.3%	5.2%
Consumer Staples	Same weight	7.5%	7.5%
Financials	GPIQ +0.1 points	0.3%	0.2%
Utilities	GPIQ +0.1 points	1.3%	1.2%
Materials	Same weight	1.2%	1.2%
Consumer Discretionary	Same weight	11.9%	11.9%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QQQI, widest gap first
Country	Gap	GPIQ	QQQI
United States	GPIQ +0.3 points	97.5%	97.2%
Canada	Same weight	1.1%	1.1%
Netherlands	QQQI +0.2 points	0.6%	0.8%
Brazil	QQQI +0.1 points	0.3%	0.4%
China	Same weight	0.3%	0.3%
United Kingdom	QQQI +0.1 points	0.2%	0.3%

Concentration

Weight in the 10 largest Holdings

GPIQ47.2%
QQQI46.3%

Securities held

GPIQ101
QQQI102

Asset class

GPIQ: Stocks
QQQI: Stocks

Holdings

Only in GPIQ6
In both95
Only in QQQI7

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 QQQI

7 securities, 5.0% of QQQI by weight

Cash & Other2.12%
Linde PLC1.11%
Shopify Inc0.85%
NXP Semiconductors NV0.29%
Coca-Cola Europacific Partners PLC0.24%
Thomson Reuters Corp0.20%
Ferrovial NV0.20%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in GPIQ and QQQI, widest gap first
Holding	Gap	GPIQ	QQQI
Alphabet Inc.GOOG	QQQI +0.93 points	1.69%	2.62%
Alphabet Inc.GOOGL	GPIQ +0.66 points	3.46%	2.80%
Space Exploration Technologies Corp.SPCX	GPIQ +0.51 points	2.74%	2.23%
American Electric Power IncAEP	GPIQ +0.46 points	0.78%	0.32%
Analog Devices Inc.ADI	GPIQ +0.34 points	1.17%	0.83%
Lam Research CorporationLRCX	QQQI +0.33 points	0.84%	1.17%
Texas Instruments Inc.TXN	GPIQ +0.28 points	1.46%	1.18%
Applied Materials IncAMAT	GPIQ +0.28 points	1.53%	1.25%
Teradyne IncTER	GPIQ +0.27 points	0.43%	0.16%
Intel CorporationINTC	QQQI +0.27 points	1.11%	1.38%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.28 points	0.55%	0.27%
Apple Inc.AAPL	GPIQ +0.27 points	8.69%	8.42%
Meta Platforms Inc-Class AMETA	GPIQ +0.27 points	3.33%	3.06%
T-Mobile Us, Inc.TMUS	QQQI +0.23 points	0.59%	0.82%
Netflix, Inc.NFLX	QQQI +0.23 points	1.02%	1.25%
Broadcom Inc.AVGO	GPIQ +0.22 points	2.58%	2.36%
Kla CorpKLAC	QQQI +0.22 points	0.64%	0.85%
Asml Holding N.v.-AdrASML	QQQI +0.19 points	0.42%	0.61%
Microchip Technology IncorporatedMCHP	GPIQ +0.19 points	0.34%	0.15%
Advanced Micro Devices Inc.AMD	QQQI +0.18 points	3.24%	3.42%
Cisco Systems, Inc.CSCO	QQQI +0.19 points	1.56%	1.75%
Lumentum Holdings Inc.LITE	GPIQ +0.17 points	0.36%	0.19%
Exelon CorporationEXC	QQQI +0.17 points	0.05%	0.22%
Marvell Technology, Inc.MRVL	GPIQ +0.16 points	0.74%	0.58%
Automatic Data Processing IncADP	GPIQ +0.15 points	0.72%	0.57%
Microsoft CorporationMSFT	GPIQ +0.15 points	6.81%	6.66%
Astera Labs, Inc.ALAB	QQQI +0.14 points	<0.01%	0.15%
Airbnb Inc.ABNB	GPIQ +0.14 points	0.51%	0.37%
Mercadolibre, Inc.MELI	QQQI +0.13 points	0.22%	0.35%
Micron Technology, Inc.MU	QQQI +0.14 points	3.49%	3.63%
Moderna, Inc.MRNA	GPIQ +0.13 points	0.52%	0.39%
Comcast CorporationCMCSA	QQQI +0.13 points	0.27%	0.40%
Rocket Lab CorporationRKLB	GPIQ +0.13 points	0.27%	0.14%
Honeywell International IncHON	GPIQ +0.13 points	0.45%	0.32%
Booking Holdings Inc.BKNG	QQQI +0.13 points	0.45%	0.58%
Palantir Technologies Inc.PLTR	GPIQ +0.12 points	1.84%	1.72%
Seagate Technology Holdin PLCSTX	QQQI +0.12 points	0.36%	0.48%
Paccar IncPCAR	QQQI +0.12 points	0.13%	0.25%
Sandisk CorporationSNDK	QQQI +0.12 points	0.47%	0.59%
Qualcomm IncQCOM	GPIQ +0.12 points	0.93%	0.81%
Marriott International, IncMAR	GPIQ +0.11 points	0.62%	0.51%
Western Digital CorporationWDC	QQQI +0.11 points	0.32%	0.43%
Arm Holdings Plc-AdrARM	QQQI +0.11 points	0.24%	0.35%
Constellation Energy CorpCEG	QQQI +0.11 points	0.32%	0.43%
Paychex, Inc.PAYX	QQQI +0.10 points	0.10%	0.20%
Applovin CorporationAPP	QQQI +0.09 points	0.47%	0.56%
Baker Hughes CoBKR	QQQI +0.10 points	0.12%	0.22%
Mondelez International, Inc.MDLZ	GPIQ +0.09 points	0.48%	0.39%
Alnylam Pharmaceuticals Inc.ALNY	QQQI +0.09 points	<0.01%	0.10%
PayPal Holdings, Inc.PYPL	GPIQ +0.09 points	0.33%	0.24%
NVIDIA CorporationNVDA	QQQI +0.08 points	7.49%	7.57%
Adobe IncADBE	QQQI +0.08 points	0.37%	0.45%
Roper Technologies IncROP	GPIQ +0.08 points	0.31%	0.23%
Fastenal CompanyFAST	GPIQ +0.07 points	0.36%	0.29%
Coreweave, Inc.CRWV	GPIQ +0.08 points	0.18%	0.10%
Strategy IncMSTR	GPIQ +0.08 points	0.28%	0.20%
Nebius Group NVNBIS	GPIQ +0.08 points	0.21%	0.13%
Crowdstrike Holdings, Inc.CRWD	GPIQ +0.07 points	1.11%	1.04%
Costco Wholesale CorporationCOST	GPIQ +0.07 points	2.24%	2.17%
Take Two Interactive SoftwareTTWO	QQQI +0.06 points	0.12%	0.18%
Pdd Holdings Inc-AdrPDD	GPIQ +0.07 points	0.33%	0.26%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.06 points	0.22%	0.16%
Tesla Inc.TSLA	QQQI +0.06 points	3.13%	3.19%
Starbucks Corp.SBUX	GPIQ +0.06 points	0.62%	0.56%
Pepsico, Inc.PEP	QQQI +0.05 points	0.85%	0.90%
Datadog, Inc.DDOG	GPIQ +0.04 points	0.32%	0.28%
Intuit IncINTU	QQQI +0.05 points	0.39%	0.44%
Doordash IncDASH	QQQI +0.05 points	0.30%	0.35%
Cadence Design Systems IncCDNS	GPIQ +0.05 points	0.46%	0.41%
Palo Alto Networks Inc.PANW	GPIQ +0.04 points	1.26%	1.22%
Ross Stores IncROST	GPIQ +0.05 points	0.40%	0.35%
Synopsys Inc.SNPS	GPIQ +0.05 points	0.45%	0.40%
Copart, Inc.CPRT	QQQI +0.04 points	0.10%	0.14%
Fortinet, Inc.FTNT	GPIQ +0.04 points	0.45%	0.41%
O'reilly Automotive, Inc.ORLY	GPIQ +0.04 points	0.39%	0.35%
Dexcom, Inc.DXCM	GPIQ +0.04 points	0.18%	0.14%
Honeywell Aerospace Inc.HONA	QQQI +0.03 points	0.19%	0.22%
Intuitive Surgical, Inc.ISRG	GPIQ +0.03 points	0.79%	0.76%
Monster Beverage CorporationMNST	GPIQ +0.03 points	0.45%	0.42%
Autodesk, Inc.ADSK	QQQI +0.03 points	0.22%	0.25%
Workday, Inc.WDAY	GPIQ +0.03 points	0.21%	0.18%
Diamondback Energy IncFANG	GPIQ +0.03 points	0.26%	0.23%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.03 points	0.20%	0.17%
Axon Enterprise, Inc.AXON	QQQI +0.03 points	0.09%	0.12%
Amgen Inc.AMGN	GPIQ +0.02 points	1.18%	1.16%
Amazon.com IncAMZN	GPIQ +0.01 points	4.73%	4.72%
Csx CorporationCSX	QQQI +0.02 points	0.41%	0.43%
Gilead SciencesGILD	QQQI +0.01 points	0.96%	0.97%
Vertex Pharmaceuticals IncorporatedVRTX	QQQI +0.01 points	0.63%	0.64%
Walmart IncWMT	GPIQ +0.01 points	2.87%	2.86%
Cintas CorporationCTAS	GPIQ +0.01 points	0.42%	0.41%
Regeneron Pharmaceutical IncREGN	GPIQ +0.01 points	0.44%	0.43%
Keurig Dr Pepper IncKDP	GPIQ +0.01 points	0.24%	0.23%
Idexx LaboratoriesIDXX	GPIQ +0.01 points	0.25%	0.24%
Xcel Energy Inc.XEL	Same weight	0.23%	0.23%

All 104 GPIQ holdings⁠All QQQI 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 QQQI Cost

Overpaying QQQI vs GPIQ

$7,300

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

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

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QQQI 0.68%
Overpaying

Year by year

Year	GPIQ	QQQI	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%QQQI

GPIQ0.29%QQQI0.68%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QQQI 13th cheapest of 30 funds

GPIQ vs QQQI Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIQ 10.89%; QQQI 14.96%, better
Payout (12M): GPIQ $5.76; QQQI $7.63
Last payment: GPIQ $0.47; QQQI $0.63
Ex-dividend: GPIQ Nov 2, 2026; QQQI Oct 21, 2026
Paid on: GPIQ Nov 6, 2026; QQQI Oct 23, 2026
Frequency: GPIQ Monthly; QQQI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

QQQIMonthly · 33 paymentsAll QQQI payments⁠

GPIQ vs QQQI 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%QQQI 13.2%since Feb 2024
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21QQQI 0.96since Feb 2024
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QQQI −20.0%since Jan 2024
Market sensitivityBeta, 5 years: GPIQ 1.16QQQI 0.96; Market = 1

GPIQ and QQQI in the news

All news⁠

ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026GPIQQQQI
Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026GPIQQQQI
ETF Filings
Defiance files AI index funds that may also buy private companies outside the index
Oct 30, 2026QQQI
ETF Filings
Motley Fool files five Fool 100 ETFs, three for options income
Oct 9, 2026GPIQ

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GPIQ vs QQQI

In short

Stated mandate

Why people hold it