GPIQ vs QQQT: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

NASDAQ 100 Income Target ETF

QQQTDNasdaq

Overlap

0.0%by weight

Expense ratio

GPIQ −0.91pt a year

GPIQ0.29%QQQT1.20%

Avg volume · 30D

GPIQ 47.0×the volume

GPIQ1.66MQQQT35.3K

GPIQ vs QQQT Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%GPIQ+9.5%QQQT

Expense ratio: GPIQ 0.29%, better; QQQT 1.20%
Fund size: GPIQ $6.2B; QQQT $50M
1Y total return: GPIQ +12.2%, better; QQQT +9.5%
Yield (12M): GPIQ 10.89%; QQQT 22.18%, better
Holdings: GPIQ 102; QQQT 3
Avg volume (30D): GPIQ 1.66M sh, better; QQQT 35.3K sh
NAV per share: GPIQ $51.24; QQQT $15.61
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QQQT, with each pillar’s weight
Pillar	GPIQ	QQQT
Cost30% weight	A92Higher	F0
Mission25% weight	A100Higher	A79
Risk15% weight	C51Higher	C41
Tradability15% weight	B62Higher	F22
Holdings10% weight	A73Higher	D34
Durability5% weight	A79Higher	C51

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QQQT 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 QQQT 25th 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 24DYQQQYieldMax Short N100 Option Income Strategy ETFScore 37
Rank 25DQQQTNASDAQ 100 Income Target ETFScore 35
Rank 26DQDTYYieldMax Nasdaq 100 0DTE Covered Call Strategy ETFScore 34

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QQQTDNASDAQ 100 Income Target 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.

QQQT Most Nasdaq-100 income funds pay out whatever premium they happen to collect. QQQT works backward from the number: a stated 20% annual distribution target, funded by call spreads sold daily on the index, paid monthly.

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.

QQQT The Fund seeks current income and, secondarily, exposure to the performance of the Nasdaq 100 Index.

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.

QQQT The payout goal is written down, not implied: a 20% annualized distribution target, distributed monthly.defianceetfs.com
The engine is daily credit call spreads on the Nasdaq 100. Buying a further-out call against each short call puts a defined ceiling on what any single spread can lose.defianceetfs.com
Income leads, but the prospectus keeps a secondary objective of Nasdaq 100 exposure, so the fund stays tied to the index it names rather than drifting into a generic options sleeve.

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.

QQQT At 1.20% a year, it charges several times what the biggest Nasdaq-100 premium income funds (JEPQ, GPIQ) do, and that fee comes out of the income before you see it.
Defiance discloses that distributions can include return of capital, meaning part of a monthly payment can be your own principal coming back.defianceetfs.com
Selling call spreads caps how much of a Nasdaq 100 rally the fund keeps while index drawdowns still pass through, so the shape of returns differs from simply owning the index.defianceetfs.com

Full GPIQ profile⁠

Full QQQT profile⁠

GPIQ vs QQQT Holdings

How GPIQ and QQQT differ

Overlap by weight

0.0%

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

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

Level by level

Holdings0 in both0.0%
Sector10 Sectors97.6%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in GPIQ and QQQT, widest gap first
Sector	Gap	GPIQ	QQQT
Technology	QQQT +2.3 points	55.7%	58.0%
Consumer Discretionary	GPIQ +0.9 points	11.9%	11.0%
Consumer Staples	GPIQ +0.7 points	7.5%	6.8%
Health Care	GPIQ +0.5 points	5.3%	4.8%
Energy	QQQT +0.1 points	0.4%	0.5%
Communication	GPIQ +0.1 points	11.2%	11.1%
Materials	GPIQ +0.1 points	1.2%	1.1%
Utilities	GPIQ +0.1 points	1.3%	1.2%
Financials	GPIQ +0.1 points	0.3%	0.2%
Industrials	Same weight	5.3%	5.3%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QQQT, widest gap first
Country	Gap	GPIQ	QQQT
United States	GPIQ +0.2 points	97.5%	97.3%
Canada	GPIQ +0.1 points	1.1%	1.0%
Netherlands	QQQT +0.2 points	0.6%	0.8%
Brazil	QQQT +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%
QQQT101.0%

Securities held

GPIQ101
QQQT3

Asset class

GPIQ: Stocks
QQQT: Stocks

Holdings

Only in GPIQ101
In both0
Only in QQQT3

Only in GPIQ

101 securities, 100% of GPIQ by weight

Apple Inc.8.69%
NVIDIA Corporation7.49%
Microsoft Corporation6.81%
Amazon.com Inc4.73%
Micron Technology, Inc.3.49%
Alphabet Inc.3.46%
Meta Platforms Inc-Class A3.33%
Advanced Micro Devices Inc.3.24%
Tesla Inc.3.13%
Walmart Inc2.87%
Space Exploration Technologies Corp.2.74%
Broadcom Inc.2.58%
Costco Wholesale Corporation2.24%
Palantir Technologies Inc.1.84%
Alphabet Inc.1.69%
Cisco Systems, Inc.1.56%
Applied Materials Inc1.53%
Texas Instruments Inc.1.46%
Palo Alto Networks Inc.1.26%
Amgen Inc.1.18%
Analog Devices Inc.1.17%
Linde PLC1.14%
Crowdstrike Holdings, Inc.1.11%
Intel Corporation1.11%
Netflix, Inc.1.02%
Gilead Sciences0.96%
Qualcomm Inc0.93%
Shopify Inc.0.89%
Pepsico, Inc.0.85%
Lam Research Corporation0.84%
Intuitive Surgical, Inc.0.79%
American Electric Power Inc0.78%
Marvell Technology, Inc.0.74%
Automatic Data Processing Inc0.72%
Kla Corp0.64%
Vertex Pharmaceuticals Incorporated0.63%
Starbucks Corp.0.62%
Marriott International, Inc0.62%
T-Mobile Us, Inc.0.59%
Monolithic Power Systems, Inc.0.55%
Moderna, Inc.0.52%
Airbnb Inc.0.51%
Mondelez International, Inc.0.48%
Nxp Semiconductors N.v.0.47%
Sandisk Corporation0.47%
Applovin Corporation0.47%
Cadence Design Systems Inc0.46%
Honeywell International Inc0.45%
Booking Holdings Inc.0.45%
Fortinet, Inc.0.45%

Only in QQQT

3 securities, 100% of QQQT by weight

Invesco QQQ Trust Series 199.98%
Ndx 11/09/2026 27038.57 C0.78%
First American Government Obligations Fund 12/01/20310.21%

Weight gaps

GPIQ and QQQT share no securities.

All 104 GPIQ holdings⁠All 5 QQQT 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 QQQT Cost

Overpaying QQQT vs GPIQ

$15,899

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

GPIQ 0.29%
$5,952
QQQT 1.20%
$21,851

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QQQT 1.20%
Overpaying

Year by year

Year	GPIQ	QQQT	Overpaying
10	$527	$2,098	$1,571
20	$2,044	$7,814	$5,770
30	$5,952	$21,851	$15,899

Expense ratio

0.29%GPIQ, cheaper
1.20%QQQT

GPIQ0.29%QQQT1.20%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QQQT 30th cheapest of 30 funds

GPIQ vs QQQT Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIQ 10.89%; QQQT 22.18%, better
Payout (12M): GPIQ $5.76; QQQT $3.57
Last payment: GPIQ $0.47; QQQT $0.29
Ex-dividend: GPIQ Nov 2, 2026; QQQT Nov 2, 2026
Paid on: GPIQ Nov 6, 2026; QQQT Nov 3, 2026
Frequency: GPIQ Monthly; QQQT Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

QQQTMonthly · 28 paymentsAll QQQT payments⁠

GPIQ vs QQQT 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%QQQT 17.3%since Jul 2024
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21QQQT 0.57since Jul 2024
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QQQT −22.5%since Jun 2024
Market sensitivityBeta, 5 years: GPIQ 1.16QQQT 1.32; Market = 1

GPIQ and QQQT 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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