GPIQ vs QYLD: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

Global X Nasdaq 100 Covered Call ETF

QYLDANasdaq

Overlap

91.2%by weight

Expense ratio

GPIQ −0.31pt a year

GPIQ0.29%QYLD0.60%

Avg volume · 30D

QYLD 2.8×the volume

GPIQ1.66MQYLD4.59M

3Y return · a year

GPIQ +6.4pt

GPIQ+20.8%QYLD+14.4%

GPIQ vs QYLD Performance

Nov 7, 2025 – Nov 9, 2026

+12.2%GPIQ+14.8%QYLD

Expense ratio: GPIQ 0.29%, better; QYLD 0.60%
Fund size: GPIQ $6.2B; QYLD $7.84B
1Y total return: GPIQ +12.2%; QYLD +14.8%, better
Yield (12M): GPIQ 10.89%; QYLD 12.11%, better
Holdings: GPIQ 102; QYLD 103
Avg volume (30D): GPIQ 1.66M sh; QYLD 4.59M sh, better
NAV per share: GPIQ $51.24; QYLD $17.11
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, QYLD, with each pillar’s weight
Pillar	GPIQ	QYLD
Cost30% weight	A92Higher	B65
Mission25% weight	A100	A100
Risk15% weight	C51	A71Higher
Tradability15% weight	B62	A90Higher
Holdings10% weight	A73	A73
Durability5% weight	A79	A91Higher

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and QYLD 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 QYLD 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
Rank 4AJEPQJPMorgan Nasdaq Equity Premium Income ETFScore 79

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

QYLDAGlobal X Nasdaq 100 Covered Call 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.

QYLD Running since 2013, QYLD is the no-frills version of the Nasdaq-100 income trade: own the index, sell calls against it, pay out monthly. No stock picking, no manager discretion, just a rules-based buy-write index followed closely.

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.

QYLD QYLD seeks, before fees and expenses, to generally match the price and yield performance of the Cboe NASDAQ-100® BuyWrite V2 Index. It uses a buy-write strategy that holds NASDAQ-100 stocks and sells corresponding call options.

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.

QYLD Simple machine: holds Nasdaq-100 stocks, sells the matching calls, and tracks the Cboe NASDAQ-100 BuyWrite V2 Index closely. Nothing to second-guess.
Income arrives monthly, and the 0.60% fee sits under the median for Nasdaq-100 options-income funds.
A multi-billion-dollar fund that trades very actively, so getting in and out is rarely the hard part.

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.

QYLD Writing calls sells the upside. When the Nasdaq-100 runs past the strike, that gain goes to the option buyer, not the fund.
Leaner options on the same index: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
Payouts are funded by option premium and no target rate is declared, so the monthly check varies with volatility.

Full GPIQ profile⁠

Full QYLD profile⁠

GPIQ vs QYLD Holdings

How GPIQ and QYLD differ

Overlap by weight

91.2%

Shared holdings make up 97.0% of GPIQ and 97.0% of QYLD.

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

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

Level by level

Holdings95 in both91.2%
Sector10 Sectors97.5%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in GPIQ and QYLD, widest gap first
Sector	Gap	GPIQ	QYLD
Technology	QYLD +2.4 points	55.7%	58.1%
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	QYLD +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	GPIQ +0.1 points	5.3%	5.2%

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and QYLD, widest gap first
Country	Gap	GPIQ	QYLD
United States	GPIQ +0.2 points	97.5%	97.3%
Canada	Same weight	1.1%	1.1%
Netherlands	QYLD +0.2 points	0.6%	0.8%
Brazil	QYLD +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%
QYLD47.0%

Securities held

GPIQ101
QYLD102

Asset class

GPIQ: Stocks
QYLD: Stocks

Holdings

Only in GPIQ6
In both95
Only in QYLD7

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 QYLD

7 securities, 2.9% of QYLD by weight

Linde PLC1.12%
Shopify Inc - Class A0.85%
Nxp Semiconductors NV0.29%
Coca-Cola Europacific Partners PLC0.24%
Ferrovial NV0.20%
Thomson Reuters Corp0.20%
Other Payable & Receivables<0.01%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in GPIQ and QYLD, widest gap first
Holding	Gap	GPIQ	QYLD
Alphabet Inc.GOOG	QYLD +1.00 points	1.69%	2.69%
Alphabet Inc.GOOGL	GPIQ +0.60 points	3.46%	2.86%
American Electric Power IncAEP	GPIQ +0.46 points	0.78%	0.32%
Lam Research CorporationLRCX	QYLD +0.35 points	0.84%	1.19%
Analog Devices Inc.ADI	GPIQ +0.34 points	1.17%	0.83%
Intel CorporationINTC	QYLD +0.29 points	1.11%	1.40%
Applied Materials IncAMAT	GPIQ +0.28 points	1.53%	1.25%
Monolithic Power Systems, Inc.MPWR	GPIQ +0.28 points	0.55%	0.27%
Teradyne IncTER	GPIQ +0.27 points	0.43%	0.16%
Texas Instruments Inc.TXN	GPIQ +0.26 points	1.46%	1.20%
T-Mobile Us, Inc.TMUS	QYLD +0.23 points	0.59%	0.82%
Netflix, Inc.NFLX	QYLD +0.23 points	1.02%	1.25%
Advanced Micro Devices Inc.AMD	QYLD +0.22 points	3.24%	3.46%
Meta Platforms Inc-Class AMETA	GPIQ +0.22 points	3.33%	3.11%
NVIDIA CorporationNVDA	QYLD +0.21 points	7.49%	7.70%
Asml Holding N.v.-AdrASML	QYLD +0.21 points	0.42%	0.63%
Kla CorpKLAC	QYLD +0.22 points	0.64%	0.86%
Micron Technology, Inc.MU	QYLD +0.19 points	3.49%	3.68%
Microchip Technology IncorporatedMCHP	GPIQ +0.19 points	0.34%	0.15%
Broadcom Inc.AVGO	GPIQ +0.19 points	2.58%	2.39%
Cisco Systems, Inc.CSCO	QYLD +0.19 points	1.56%	1.75%
Exelon CorporationEXC	QYLD +0.17 points	0.05%	0.22%
Marvell Technology, Inc.MRVL	GPIQ +0.15 points	0.74%	0.59%
Automatic Data Processing IncADP	GPIQ +0.15 points	0.72%	0.57%
Astera Labs, Inc.ALAB	QYLD +0.15 points	<0.01%	0.16%
Mercadolibre, Inc.MELI	QYLD +0.14 points	0.22%	0.36%
Airbnb Inc.ABNB	GPIQ +0.14 points	0.51%	0.37%
Apple Inc.AAPL	GPIQ +0.14 points	8.69%	8.55%
Lumentum Holdings Inc.LITE	GPIQ +0.13 points	0.36%	0.23%
Seagate Technology Holdin PLCSTX	QYLD +0.13 points	0.36%	0.49%
Comcast CorporationCMCSA	QYLD +0.13 points	0.27%	0.40%
Honeywell International IncHON	GPIQ +0.13 points	0.45%	0.32%
Western Digital CorporationWDC	QYLD +0.13 points	0.32%	0.45%
Rocket Lab CorporationRKLB	GPIQ +0.12 points	0.27%	0.15%
Arm Holdings Plc-AdrARM	QYLD +0.12 points	0.24%	0.36%
Paccar IncPCAR	QYLD +0.12 points	0.13%	0.25%
Booking Holdings Inc.BKNG	QYLD +0.12 points	0.45%	0.57%
Sandisk CorporationSNDK	QYLD +0.11 points	0.47%	0.58%
Marriott International, IncMAR	GPIQ +0.11 points	0.62%	0.51%
Qualcomm IncQCOM	GPIQ +0.11 points	0.93%	0.82%
Paychex, Inc.PAYX	QYLD +0.10 points	0.10%	0.20%
Baker Hughes CoBKR	QYLD +0.10 points	0.12%	0.22%
Palantir Technologies Inc.PLTR	GPIQ +0.10 points	1.84%	1.74%
Constellation Energy CorpCEG	QYLD +0.10 points	0.32%	0.42%
Tesla Inc.TSLA	QYLD +0.09 points	3.13%	3.22%
Alnylam Pharmaceuticals Inc.ALNY	QYLD +0.09 points	<0.01%	0.10%
Mondelez International, Inc.MDLZ	GPIQ +0.09 points	0.48%	0.39%
Applovin CorporationAPP	QYLD +0.08 points	0.47%	0.55%
PayPal Holdings, Inc.PYPL	GPIQ +0.09 points	0.33%	0.24%
Roper Technologies IncROP	GPIQ +0.09 points	0.31%	0.22%
Fastenal CompanyFAST	GPIQ +0.08 points	0.36%	0.28%
Adobe IncADBE	QYLD +0.08 points	0.37%	0.45%
Take Two Interactive SoftwareTTWO	QYLD +0.07 points	0.12%	0.19%
Coreweave, Inc.CRWV	GPIQ +0.08 points	0.18%	0.10%
Pdd Holdings Inc-AdrPDD	GPIQ +0.08 points	0.33%	0.25%
Pepsico, Inc.PEP	QYLD +0.06 points	0.85%	0.91%
Microsoft CorporationMSFT	GPIQ +0.06 points	6.81%	6.75%
Nebius Group NVNBIS	GPIQ +0.07 points	0.21%	0.14%
Strategy IncMSTR	GPIQ +0.06 points	0.28%	0.22%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.06 points	0.22%	0.16%
Crowdstrike Holdings, Inc.CRWD	GPIQ +0.06 points	1.11%	1.05%
Palo Alto Networks Inc.PANW	GPIQ +0.05 points	1.26%	1.21%
Amazon.com IncAMZN	QYLD +0.06 points	4.73%	4.79%
Starbucks Corp.SBUX	GPIQ +0.05 points	0.62%	0.57%
Ross Stores IncROST	GPIQ +0.06 points	0.40%	0.34%
Cadence Design Systems IncCDNS	GPIQ +0.05 points	0.46%	0.41%
O'reilly Automotive, Inc.ORLY	GPIQ +0.05 points	0.39%	0.34%
Moderna, Inc.MRNA	GPIQ +0.05 points	0.52%	0.47%
Datadog, Inc.DDOG	GPIQ +0.04 points	0.32%	0.28%
Synopsys Inc.SNPS	GPIQ +0.05 points	0.45%	0.40%
Copart, Inc.CPRT	QYLD +0.04 points	0.10%	0.14%
Intuit IncINTU	QYLD +0.04 points	0.39%	0.43%
Fortinet, Inc.FTNT	GPIQ +0.04 points	0.45%	0.41%
Honeywell Aerospace Inc.HONA	QYLD +0.04 points	0.19%	0.23%
Doordash IncDASH	QYLD +0.04 points	0.30%	0.34%
Dexcom, Inc.DXCM	GPIQ +0.04 points	0.18%	0.14%
Autodesk, Inc.ADSK	QYLD +0.04 points	0.22%	0.26%
Intuitive Surgical, Inc.ISRG	GPIQ +0.03 points	0.79%	0.76%
Monster Beverage CorporationMNST	GPIQ +0.03 points	0.45%	0.42%
Workday, Inc.WDAY	GPIQ +0.03 points	0.21%	0.18%
Costco Wholesale CorporationCOST	GPIQ +0.03 points	2.24%	2.21%
Axon Enterprise, Inc.AXON	QYLD +0.03 points	0.09%	0.12%
Diamondback Energy IncFANG	GPIQ +0.03 points	0.26%	0.23%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.02 points	0.20%	0.18%
Vertex Pharmaceuticals IncorporatedVRTX	QYLD +0.03 points	0.63%	0.66%
Gilead SciencesGILD	QYLD +0.02 points	0.96%	0.98%
Walmart IncWMT	QYLD +0.02 points	2.87%	2.89%
Space Exploration Technologies Corp.SPCX	GPIQ +0.02 points	2.74%	2.72%
Csx CorporationCSX	QYLD +0.01 points	0.41%	0.42%
Cintas CorporationCTAS	GPIQ +0.01 points	0.42%	0.41%
Regeneron Pharmaceutical IncREGN	GPIQ +0.01 points	0.44%	0.43%
Idexx LaboratoriesIDXX	Same weight	0.25%	0.25%
Xcel Energy Inc.XEL	QYLD +0.01 points	0.23%	0.24%
Amgen Inc.AMGN	Same weight	1.18%	1.18%
Keurig Dr Pepper IncKDP	Same weight	0.24%	0.24%

All 104 GPIQ holdings⁠All 102 QYLD 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 QYLD Cost

Overpaying QYLD vs GPIQ

$5,865

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

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

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
QYLD 0.60%
Overpaying

Year by year

Year	GPIQ	QYLD	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%QYLD

GPIQ0.29%QYLD0.60%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

QYLD 10th cheapest of 30 funds

GPIQ vs QYLD Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIQ 10.89%; QYLD 12.11%, better
Payout (12M): GPIQ $5.76; QYLD $2.14
Last payment: GPIQ $0.47; QYLD $0.18
Ex-dividend: GPIQ Nov 2, 2026; QYLD Oct 19, 2026
Paid on: GPIQ Nov 6, 2026; QYLD Oct 22, 2026
Frequency: GPIQ Monthly; QYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 36 paymentsAll GPIQ payments⁠

QYLDMonthly · 46 paymentsAll QYLD payments⁠

GPIQ vs QYLD 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%QYLD 8.1%, better
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21QYLD 1.31, better
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023QYLD −24.6%
Market sensitivityBeta, 5 years: GPIQ 1.16QYLD 0.48; Market = 1

GPIQ and QYLD in the news

All news⁠

Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
Updated Oct 2, 2026GPIQQYLD
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
Income Watch
A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%
Sep 20, 2026QYLD

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