GPIQ vs QRMI: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Global X Nasdaq 100 Risk Managed Income ETF

QRMIBNasdaq

Overlap

90.6%by weight

Expense ratio

GPIQ −0.31pt a year

GPIQ0.29%QRMI0.60%

Avg volume · 30D

GPIQ 218.1×the volume

GPIQ1.57MQRMI7.22K

3Y return · a year

GPIQ +13.5pt

GPIQ+21.4%QRMI+7.9%

GPIQ vs QRMI Performance

Oct 31, 2025 – Nov 2, 2026

+9.9%GPIQ+3.1%QRMI

Expense ratio: GPIQ 0.29%, better; QRMI 0.60%
Fund size: GPIQ $6.36B; QRMI $15M
1Y total return: GPIQ +9.9%, better; QRMI +3.1%
Yield (12M): GPIQ 11.74%; QRMI 12.69%, better
Holdings: GPIQ 102; QRMI 104
Avg volume (30D): GPIQ 1.57M sh, better; QRMI 7.22K sh
NAV per share: GPIQ $54.25; QRMI $14.80
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QRMI, with each pillar’s weight
Pillar	GPIQ	QRMI
Cost30% weight	A92Higher	B65
Mission25% weight	A100Higher	A85
Risk15% weight	B56	B69Higher
Tradability15% weight	A73Higher	C42
Holdings10% weight	A85Higher	B68
Durability5% weight	A79Higher	C50

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QRMI 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 QRMI 10th of 30 funds in the Nasdaq-100 Option Income Category.

Rank 1AGPIQGoldman Sachs Nasdaq-100 Premium Income ETFScore 84
Rank 2AQQAInvesco QQQ Income Advantage ETFScore 82
Rank 10BIQQQProShares Nasdaq-100 High Income ETFScore 66
Rank 10BQRMIGlobal X Nasdaq 100 Risk Managed Income ETFScore 66
Rank 10BTDAQTappAlpha Innovation 100 Growth & Daily Income ETFScore 66

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QRMIBGlobal X Nasdaq 100 Risk Managed 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.

QRMI Most Nasdaq-100 income funds sell calls and leave the downside wide open. QRMI spends part of that call premium on a protective put, collaring the index every month so the payout arrives with a hedge attached.

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.

QRMI The Fund seeks to track the price and yield performance of the Nasdaq-100 Monthly Net Credit Collar 95-100 Index before fees and expenses. Its strategy combines Nasdaq-100 stocks with a monthly protective put and covered-call 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.

QRMI The collar resets monthly: covered calls on Nasdaq-100 stocks pay for a protective put, and the index is built so the calls bring in more premium than the put costs.globalxetfs.com
Among Nasdaq-100 income peers like QYLD, QYLG and JEPQ, this is the one that spends premium on downside protection instead of pocketing all of it.
Pays monthly, and the 0.60% fee sits under the typical Nasdaq-100 options-income fund.
You hold the actual Nasdaq-100 names, roughly 110 lines, with the option legs layered on top rather than a synthetic stand-in.

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.

QRMI The hedge isn't free: the calls that pay for the put also cap how much of a Nasdaq-100 rally the fund keeps.globalxetfs.com
A small fund that trades thinly, so spreads can be wider than the category giants and limit orders do real work.
Monthly payouts ride on option premiums, which swell and shrink with volatility. No fixed rate is promised.globalxetfs.com

Full GPIQ profile⁠

Full QRMI profile⁠

GPIQ vs QRMI Holdings

How GPIQ and QRMI differ

Overlap by weight

90.6%

Shared holdings make up 96.5% of GPIQ and 95.7% of QRMI.

Level by level

Holdings95 in both90.6%
Asset classEquity100%
Countryby domicile99.8%
Sector10 Sectors99.6%

Sector

Sector weights in GPIQ and QRMI, widest gap first
Sector	More in GPIQMore in QRMI	GPIQ	QRMI
Technology	GPIQ +0.4 points	60.7%	60.3%
Consumer Discretionary	QRMI +0.2 points	9.9%	10.1%
Utilities	QRMI +0.1 points	0.9%	1.0%
Consumer Staples	QRMI +0.1 points	5.5%	5.6%
Industrials	Same weight	5.1%	5.1%
Health Care	Same weight	3.8%	3.8%
Financials	Same weight	0.1%	0.2%
Materials	Same weight	0.9%	0.9%
Energy	Same weight	0.5%	0.5%
Communication	Same weight	12.6%	12.6%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QRMI, widest gap first
Country	More in GPIQMore in QRMI	GPIQ	QRMI
United States	GPIQ +0.1 points	97.4%	97.3%
Canada	Same weight	1.1%	1.1%
Netherlands	QRMI +0.1 points	0.7%	0.8%
Brazil	Same weight	0.3%	0.3%
China	GPIQ +0.1 points	0.3%	0.2%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

GPIQ46.4%
QRMI46.0%

Securities held

GPIQ101
QRMI103

Asset class

GPIQ: Equity
QRMI: Equity

Holdings

Only in GPIQ6
In both95
Only in QRMI8

Only in GPIQ

6 securities, 2.9% of GPIQ by weight

Linde PLC1.10%
Shopify Inc.0.87%
Nxp Semiconductors N.v.0.48%
Thomson Reuters Corporation0.21%
Coca-Cola European Partners PLC0.20%
Ferrovial NV0.09%

Only in QRMI

8 securities, 4.9% of QRMI by weight

Ndx Us 11/20/26 P281752.03%
Linde PLC1.05%
Shopify Inc - Class A0.85%
Nxp Semiconductors NV0.29%
Coca-Cola Europacific Partners PLC0.22%
Thomson Reuters Corp0.19%
Ferrovial NV0.18%
Xnd Us 11/20/26 P2820.05%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in GPIQ and QRMI, widest gap first
Holding	More in GPIQMore in QRMI	GPIQ	QRMI
Alphabet Inc.GOOG	QRMI +0.86 points	1.60%	2.46%
Alphabet Inc.GOOGL	GPIQ +0.52 points	3.15%	2.63%
American Electric Power IncAEP	GPIQ +0.47 points	0.78%	0.31%
Analog Devices Inc.ADI	GPIQ +0.41 points	1.30%	0.89%
Netflix, Inc.NFLX	QRMI +0.37 points	0.77%	1.14%
Lam Research CorporationLRCX	QRMI +0.37 points	0.95%	1.32%
Applied Materials IncAMAT	GPIQ +0.32 points	1.69%	1.37%
Texas Instruments Inc.TXN	GPIQ +0.31 points	1.53%	1.22%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.29 points	0.54%	0.25%
Teradyne IncTER	GPIQ +0.27 points	0.46%	0.19%
Kla CorpKLAC	QRMI +0.26 points	0.65%	0.91%
Microchip Technology IncorporatedMCHP	GPIQ +0.24 points	0.43%	0.18%
Advanced Micro Devices Inc.AMD	QRMI +0.18 points	3.47%	3.65%
Broadcom Inc.AVGO	GPIQ +0.16 points	2.65%	2.49%
Marvell Technology, Inc.MRVL	GPIQ +0.16 points	0.93%	0.77%
Exelon CorporationEXC	QRMI +0.16 points	0.05%	0.21%
Automatic Data Processing IncADP	GPIQ +0.15 points	0.67%	0.52%
Lumentum Holdings Inc.LITE	GPIQ +0.15 points	0.49%	0.34%
Booking Holdings Inc.BKNG	QRMI +0.16 points	0.34%	0.50%
Meta Platforms Inc-Class AMETA	GPIQ +0.15 points	3.08%	2.93%
Cisco Systems, Inc.CSCO	QRMI +0.14 points	1.68%	1.82%
Comcast CorporationCMCSA	QRMI +0.14 points	0.22%	0.36%
Walmart IncWMT	QRMI +0.14 points	2.52%	2.66%
NVIDIA CorporationNVDA	QRMI +0.13 points	7.78%	7.91%
Intel CorporationINTC	QRMI +0.14 points	1.39%	1.53%
Xcel Energy Inc.XEL	QRMI +0.13 points	0.09%	0.22%
Airbnb Inc.ABNB	GPIQ +0.13 points	0.43%	0.30%
Rocket Lab CorporationRKLB	GPIQ +0.11 points	0.26%	0.15%
Monster Beverage CorporationMNST	QRMI +0.12 points	0.29%	0.41%
Micron Technology, Inc.MU	QRMI +0.11 points	4.30%	4.41%
Marriott International, IncMAR	GPIQ +0.11 points	0.57%	0.46%
Paccar IncPCAR	QRMI +0.11 points	0.13%	0.24%
Asml Holding N.v.-AdrASML	QRMI +0.10 points	0.53%	0.63%
Microsoft CorporationMSFT	GPIQ +0.11 points	6.33%	6.22%
Seagate Technology Holdin PLCSTX	QRMI +0.11 points	0.53%	0.64%
Pepsico, Inc.PEP	GPIQ +0.10 points	0.94%	0.84%
Honeywell International IncHON	QRMI +0.11 points	0.20%	0.31%
T-Mobile Us, Inc.TMUS	GPIQ +0.10 points	0.85%	0.75%
Mondelez International, Inc.MDLZ	GPIQ +0.09 points	0.46%	0.37%
Baker Hughes CoBKR	QRMI +0.09 points	0.15%	0.24%
Applovin CorporationAPP	QRMI +0.10 points	0.21%	0.31%
Constellation Energy CorpCEG	QRMI +0.09 points	0.32%	0.41%
Costco Wholesale CorporationCOST	GPIQ +0.09 points	2.08%	1.99%
Take Two Interactive SoftwareTTWO	QRMI +0.09 points	0.07%	0.16%
Western Digital CorporationWDC	QRMI +0.09 points	0.49%	0.58%
Paychex, Inc.PAYX	QRMI +0.08 points	0.09%	0.17%
Qualcomm IncQCOM	GPIQ +0.09 points	0.86%	0.77%
Pdd Holdings Inc-AdrPDD	GPIQ +0.09 points	0.32%	0.23%
Fastenal CompanyFAST	GPIQ +0.08 points	0.34%	0.26%
Roper Technologies IncROP	GPIQ +0.08 points	0.29%	0.21%
Arm Holdings Plc-AdrARM	QRMI +0.08 points	0.31%	0.39%
Sandisk CorporationSNDK	QRMI +0.08 points	0.67%	0.75%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.08 points	0.23%	0.15%
Apple Inc.AAPL	GPIQ +0.07 points	8.15%	8.08%
Adobe IncADBE	QRMI +0.07 points	0.37%	0.44%
O'reilly Automotive, Inc.ORLY	GPIQ +0.07 points	0.38%	0.31%
PayPal Holdings, Inc.PYPL	GPIQ +0.07 points	0.28%	0.21%
Starbucks Corp.SBUX	GPIQ +0.07 points	0.59%	0.52%
Astera Labs, Inc.ALAB	QRMI +0.07 points	0.13%	0.20%
Mercadolibre, Inc.MELI	QRMI +0.06 points	0.28%	0.34%
Coreweave, Inc.CRWV	GPIQ +0.06 points	0.17%	0.11%
Nebius Group NVNBIS	GPIQ +0.06 points	0.22%	0.16%
Crowdstrike Holdings, Inc.CRWD	GPIQ +0.05 points	1.19%	1.14%
Ross Stores IncROST	GPIQ +0.06 points	0.38%	0.32%
Palantir Technologies Inc.PLTR	GPIQ +0.06 points	1.93%	1.87%
Fortinet, Inc.FTNT	GPIQ +0.06 points	0.50%	0.44%
Palo Alto Networks Inc.PANW	GPIQ +0.05 points	1.37%	1.32%
Autodesk, Inc.ADSK	QRMI +0.06 points	0.17%	0.23%
Axon Enterprise, Inc.AXON	QRMI +0.05 points	0.11%	0.16%
Dexcom, Inc.DXCM	GPIQ +0.05 points	0.18%	0.13%
Moderna, Inc.MRNA	GPIQ +0.05 points	0.43%	0.38%
Tesla Inc.TSLA	QRMI +0.04 points	3.32%	3.36%
Datadog, Inc.DDOG	GPIQ +0.04 points	0.39%	0.34%
Workday, Inc.WDAY	GPIQ +0.04 points	0.21%	0.17%
Doordash IncDASH	QRMI +0.04 points	0.29%	0.33%
Intuitive Surgical, Inc.ISRG	GPIQ +0.04 points	0.71%	0.67%
Strategy IncMSTR	GPIQ +0.04 points	0.24%	0.20%
Synopsys Inc.SNPS	GPIQ +0.04 points	0.43%	0.39%
Honeywell Aerospace Inc.HONA	QRMI +0.03 points	0.18%	0.21%
Csx CorporationCSX	QRMI +0.04 points	0.39%	0.43%
Regeneron Pharmaceutical IncREGN	QRMI +0.03 points	0.39%	0.42%
Cadence Design Systems IncCDNS	GPIQ +0.03 points	0.43%	0.40%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.03 points	0.18%	0.15%
Copart, Inc.CPRT	GPIQ +0.02 points	0.15%	0.13%
Space Exploration Technologies Corp.SPCX	QRMI +0.03 points	2.53%	2.56%
Amazon.com IncAMZN	QRMI +0.02 points	4.14%	4.16%
Amgen Inc.AMGN	QRMI +0.02 points	1.11%	1.13%
Diamondback Energy IncFANG	QRMI +0.02 points	0.24%	0.26%
Vertex Pharmaceuticals IncorporatedVRTX	QRMI +0.01 points	0.62%	0.63%
Keurig Dr Pepper IncKDP	QRMI +0.01 points	0.20%	0.21%
Cintas CorporationCTAS	GPIQ +0.01 points	0.40%	0.39%
Idexx LaboratoriesIDXX	QRMI +0.01 points	0.19%	0.20%
Gilead SciencesGILD	QRMI +0.01 points	0.93%	0.94%
Alnylam Pharmaceuticals Inc.ALNY	GPIQ +0.01 points	0.11%	0.10%
Intuit IncINTU	Same weight	0.41%	0.41%

All 105 GPIQ holdings⁠All 105 QRMI 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 QRMI Cost

Overpaying QRMI vs GPIQ

$5,865

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

GPIQ 0.29%
$5,952
QRMI 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QRMI 0.60%
Overpaying

Year by year

Year	GPIQ	QRMI	Overpaying
10	$527	$1,076	$549
20	$2,044	$4,116	$2,072
30	$5,952	$11,817	$5,865

Expense ratio

0.29%GPIQ, cheaper
0.60%QRMI

GPIQ0.29%QRMI0.60%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QRMI 10th cheapest of 30 funds

GPIQ vs QRMI Dividends

Last 12 months to Nov 2, 2026

Yield (12M): GPIQ 11.74%; QRMI 12.69%, better
Payout (12M): GPIQ $6.24; QRMI $1.87
Last payment: GPIQ $0.47; QRMI $0.15
Ex-dividend: GPIQ Nov 2, 2026; QRMI Oct 19, 2026
Paid on: GPIQ Pays Nov 6, 2026; QRMI Oct 22, 2026
Frequency: GPIQ Monthly; QRMI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

QRMIMonthly · 46 paymentsAll QRMI payments⁠

GPIQ vs QRMI 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%QRMI 6.1%, better
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21, betterQRMI 0.66
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QRMI −20.4%
Market sensitivityBeta, 5 years: GPIQ 1.16QRMI 0.36; Market = 1

GPIQ and QRMI 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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GPIQ vs QRMI

In short

Stated mandate

Why people hold it