GPIQ vs SEPQ: Grades, Fees and Holdings Compared

Goldman Sachs Nasdaq-100 Premium Income ETF

GPIQANasdaq

STF Tactical Growth & Income ETF

SEPQBNasdaq

Overlap

83.5%by weight

Expense ratio

GPIQ −0.36pt a year

GPIQ0.29%SEPQ0.65%

Avg volume · 30D

GPIQ 57.4×the volume

GPIQ1.57MSEPQ27.4K

GPIQ vs SEPQ Performance

Jul 31, 2026 – Oct 30, 2026

+0.4%GPIQ+0.3%SEPQ

Expense ratio: GPIQ 0.29%, better; SEPQ 0.65%
Fund size: GPIQ $6.52B; SEPQ $93M
1Y total return: GPIQ +11.4%; SEPQ No data
Yield (12M): GPIQ 10.62%; SEPQ 12.02%, better
Holdings: GPIQ 102; SEPQ 97
Avg volume (30D): GPIQ 1.57M sh, better; SEPQ 27.4K sh
NAV per share: GPIQ $56.04; SEPQ $25.95
52W range

ETF.net Grade

Pillar letters and Scores for GPIQ, SEPQ, with each pillar’s weight
Pillar	GPIQ	SEPQ
Cost30% weight	A92Higher	B60
Mission25% weight	A100	Not scored
Risk15% weight	C52	B67Higher
Tradability15% weight	A73Higher	D33
Holdings10% weight	A85Higher	B59
Durability5% weight	A79Higher	C50

Rank among Nasdaq-100 Option Income funds

How we build Categories ›

Same Category. GPIQ and SEPQ 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 SEPQ 15th 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 15BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFScore 55
Rank 15BSEPQSTF Tactical Growth & Income ETFScore 55
Rank 17CXQQINEOS Boosted Nasdaq-100 High Income ETFScore 53

Our read on each fund

ETF.net Research

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

SEPQBSTF Tactical Growth & 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.

SEPQ No data

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.

SEPQ No data

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.

SEPQ No data

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.

SEPQ No data

Full GPIQ profile⁠

Full SEPQ profile⁠

GPIQ vs SEPQ Holdings

How GPIQ and SEPQ differ

Overlap by weight

83.5%

Shared holdings make up 92.1% of SEPQ and 90.4% of GPIQ.

Level by level

Holdings83 in both83.5%
Asset classEquity100%
Countryby domicile99.6%

Sector

No Sector split for SEPQ.

Country, concentration and asset class

Country by domicile

Country weights in GPIQ and SEPQ, widest gap first
Country	More in GPIQMore in SEPQ	GPIQ	SEPQ
United States	GPIQ +0.3 points	97.4%	97.1%
Canada	Same weight	1.1%	1.1%
Netherlands	SEPQ +0.2 points	0.7%	0.9%
Brazil	SEPQ +0.1 points	0.3%	0.4%
China	Same weight	0.3%	0.3%
United Kingdom	SEPQ +0.1 points	0.2%	0.3%

Concentration

Weight in the 10 largest Holdings

GPIQ46.4%
SEPQ48.1%

Securities held

GPIQ101
SEPQ96

Asset class

GPIQ: Equity
SEPQ: Equity

Holdings

Only in GPIQ18
In both83
Only in SEPQ13

Only in GPIQ

18 securities, 9.9% of GPIQ by weight

Space Exploration Technologies Corp.2.65%
Linde PLC1.06%
Shopify Inc.0.90%
Sandisk Corporation0.79%
Lumentum Holdings Inc.0.53%
Monolithic Power Systems, Inc.0.52%
Teradyne Inc0.49%
Nxp Semiconductors N.v.0.48%
Microchip Technology Incorporated0.44%
Moderna, Inc.0.42%
Arm Holdings Plc-Adr0.33%
Rocket Lab Corporation0.28%
Nebius Group NV0.24%
Thomson Reuters Corporation0.20%
Coreweave, Inc.0.19%
Coca-Cola European Partners PLC0.19%
Astera Labs, Inc.0.14%
Ferrovial NV0.09%

Only in SEPQ

13 securities, 4.0% of SEPQ by weight

Linde PLC1.15%
Shopify Inc1.02%
NXP Semiconductors NV0.34%
Coca-Cola Europacific Partners PLC0.24%
Ferrovial NV0.22%
Zscaler Inc0.20%
Atlassian Corp0.15%
Cognizant Technology Solutions Corp0.15%
Kraft Heinz Co/The0.14%
Verisk Analytics Inc0.13%
Insmed Inc0.12%
Charter Communications Inc0.07%
CoStar Group Inc0.06%

Weight gaps

All 83 Holdings in both funds, largest gap first.

Holding weights in GPIQ and SEPQ, widest gap first
Holding	More in GPIQMore in SEPQ	GPIQ	SEPQ
Texas Instruments Inc.TXN	GPIQ +1.25 points	1.56%	0.31%
Alphabet Inc.GOOG	SEPQ +0.96 points	1.59%	2.55%
Palantir Technologies Inc.PLTR	GPIQ +0.87 points	2.02%	1.15%
Analog Devices Inc.ADI	GPIQ +0.86 points	1.32%	0.46%
Apple Inc.AAPL	SEPQ +0.66 points	7.99%	8.65%
Lam Research CorporationLRCX	SEPQ +0.63 points	0.96%	1.59%
NVIDIA CorporationNVDA	GPIQ +0.63 points	7.82%	7.19%
Marvell Technology, Inc.MRVL	GPIQ +0.53 points	1.01%	0.48%
Walmart IncWMT	SEPQ +0.47 points	2.36%	2.83%
Kla CorpKLAC	SEPQ +0.46 points	0.65%	1.11%
Cisco Systems, Inc.CSCO	SEPQ +0.45 points	1.67%	2.12%
American Electric Power IncAEP	GPIQ +0.43 points	0.76%	0.33%
Microsoft CorporationMSFT	SEPQ +0.38 points	6.25%	6.63%
Netflix, Inc.NFLX	GPIQ +0.38 points	0.87%	0.49%
Alphabet Inc.GOOGL	GPIQ +0.39 points	3.16%	2.77%
Broadcom Inc.AVGO	GPIQ +0.32 points	2.74%	2.42%
Meta Platforms Inc-Class AMETA	SEPQ +0.30 points	3.07%	3.37%
Seagate Technology Holdin PLCSTX	SEPQ +0.23 points	0.54%	0.77%
Costco Wholesale CorporationCOST	SEPQ +0.23 points	2.00%	2.23%
Booking Holdings Inc.BKNG	SEPQ +0.22 points	0.39%	0.61%
Comcast CorporationCMCSA	SEPQ +0.22 points	0.19%	0.41%
Western Digital CorporationWDC	SEPQ +0.19 points	0.50%	0.69%
Exelon CorporationEXC	SEPQ +0.17 points	0.05%	0.22%
Intuit IncINTU	GPIQ +0.17 points	0.39%	0.22%
Applovin CorporationAPP	SEPQ +0.16 points	0.23%	0.39%
Adobe IncADBE	SEPQ +0.15 points	0.37%	0.52%
Monster Beverage CorporationMNST	SEPQ +0.15 points	0.28%	0.43%
Xcel Energy Inc.XEL	SEPQ +0.14 points	0.09%	0.23%
Honeywell International IncHON	SEPQ +0.14 points	0.20%	0.34%
Baker Hughes CoBKR	SEPQ +0.13 points	0.14%	0.27%
Amgen Inc.AMGN	SEPQ +0.13 points	1.05%	1.18%
Amazon.com IncAMZN	SEPQ +0.13 points	4.05%	4.17%
Micron Technology, Inc.MU	GPIQ +0.12 points	4.41%	4.29%
Asml Holding N.v.-AdrASML	SEPQ +0.11 points	0.56%	0.67%
Strategy IncMSTR	GPIQ +0.11 points	0.25%	0.14%
Constellation Energy CorpCEG	SEPQ +0.11 points	0.30%	0.41%
Paccar IncPCAR	SEPQ +0.12 points	0.14%	0.26%
Paychex, Inc.PAYX	SEPQ +0.11 points	0.08%	0.19%
Palo Alto Networks Inc.PANW	GPIQ +0.10 points	1.39%	1.29%
Gilead SciencesGILD	SEPQ +0.10 points	0.88%	0.98%
Vertex Pharmaceuticals IncorporatedVRTX	SEPQ +0.10 points	0.58%	0.68%
Take Two Interactive SoftwareTTWO	SEPQ +0.09 points	0.08%	0.17%
Applied Materials IncAMAT	GPIQ +0.09 points	1.79%	1.70%
Crowdstrike Holdings, Inc.CRWD	SEPQ +0.09 points	1.22%	1.31%
Airbnb Inc.ABNB	GPIQ +0.10 points	0.43%	0.33%
Autodesk, Inc.ADSK	SEPQ +0.10 points	0.15%	0.25%
Intel CorporationINTC	GPIQ +0.09 points	1.89%	1.80%
Automatic Data Processing IncADP	GPIQ +0.08 points	0.64%	0.56%
Doordash IncDASH	SEPQ +0.08 points	0.28%	0.36%
Csx CorporationCSX	SEPQ +0.07 points	0.39%	0.46%
Intuitive Surgical, Inc.ISRG	SEPQ +0.07 points	0.72%	0.79%
Regeneron Pharmaceutical IncREGN	SEPQ +0.06 points	0.34%	0.40%
Diamondback Energy IncFANG	SEPQ +0.07 points	0.23%	0.30%
Honeywell Aerospace Inc.HONA	SEPQ +0.06 points	0.18%	0.24%
Mercadolibre, Inc.MELI	SEPQ +0.06 points	0.33%	0.39%
T-Mobile Us, Inc.TMUS	SEPQ +0.06 points	0.78%	0.84%
Axon Enterprise, Inc.AXON	SEPQ +0.06 points	0.11%	0.17%
Marriott International, IncMAR	GPIQ +0.05 points	0.56%	0.51%
Cintas CorporationCTAS	SEPQ +0.05 points	0.39%	0.44%
Mondelez International, Inc.MDLZ	GPIQ +0.04 points	0.43%	0.39%
Qualcomm IncQCOM	SEPQ +0.05 points	0.94%	0.99%
Pdd Holdings Inc-AdrPDD	GPIQ +0.04 points	0.31%	0.27%
Roper Technologies IncROP	GPIQ +0.04 points	0.27%	0.23%
Fastenal CompanyFAST	GPIQ +0.04 points	0.34%	0.30%
Tesla Inc.TSLA	SEPQ +0.04 points	3.23%	3.27%
Old Dominion Freight Line, Inc.ODFL	GPIQ +0.04 points	0.22%	0.18%
Pepsico, Inc.PEP	SEPQ +0.02 points	0.90%	0.92%
Advanced Micro Devices Inc.AMD	SEPQ +0.03 points	3.74%	3.77%
Cadence Design Systems IncCDNS	SEPQ +0.03 points	0.44%	0.47%
Fortinet, Inc.FTNT	SEPQ +0.02 points	0.50%	0.52%
Keurig Dr Pepper IncKDP	SEPQ +0.03 points	0.19%	0.22%
O'reilly Automotive, Inc.ORLY	GPIQ +0.03 points	0.38%	0.35%
Ross Stores IncROST	GPIQ +0.02 points	0.38%	0.36%
Idexx LaboratoriesIDXX	SEPQ +0.02 points	0.19%	0.21%
Dexcom, Inc.DXCM	GPIQ +0.02 points	0.17%	0.15%
Starbucks Corp.SBUX	GPIQ +0.02 points	0.59%	0.57%
Synopsys Inc.SNPS	SEPQ +0.02 points	0.44%	0.46%
Copart, Inc.CPRT	GPIQ +0.01 points	0.15%	0.14%
Datadog, Inc.DDOG	GPIQ +0.01 points	0.43%	0.42%
PayPal Holdings, Inc.PYPL	GPIQ +0.01 points	0.28%	0.27%
Alnylam Pharmaceuticals Inc.ALNY	SEPQ +0.01 points	0.11%	0.12%
Ge Healthcare Technologies Inc.GEHC	GPIQ +0.01 points	0.18%	0.17%
Workday, Inc.WDAY	Same weight	0.20%	0.20%

All 106 GPIQ holdings⁠All 101 SEPQ 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 SEPQ Cost

Overpaying SEPQ vs GPIQ

$6,765

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

GPIQ 0.29%
$5,952
SEPQ 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

GPIQ 0.29%
SEPQ 0.65%
Overpaying

Year by year

Year	GPIQ	SEPQ	Overpaying
10	$527	$1,163	$636
20	$2,044	$4,440	$2,396
30	$5,952	$12,717	$6,765

Expense ratio

0.29%GPIQ, cheaper
0.65%SEPQ

GPIQ0.29%SEPQ0.65%

0.00%1.20%

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

GPIQ 2nd cheapest of 30 funds

SEPQ 12th cheapest of 30 funds

GPIQ vs SEPQ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GPIQ 10.62%; SEPQ 12.02%, better
Payout (12M): GPIQ $5.77; SEPQ $3.13
Last payment: GPIQ $0.51; SEPQ $0.27
Ex-dividend: GPIQ Oct 1, 2026; SEPQ Oct 22, 2026
Paid on: GPIQ Oct 7, 2026; SEPQ Oct 23, 2026
Frequency: GPIQ Monthly; SEPQ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIQMonthly · 35 paymentsAll GPIQ payments⁠

SEPQMonthly · 46 paymentsAll SEPQ payments⁠

GPIQ vs SEPQ 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%SEPQ No data
Return per unit of riskSharpe ratio, 3 years: GPIQ 1.21SEPQ No data
Worst fallMax drawdown, 5 years: GPIQ −21.1%since Oct 2023SEPQ No data
Market sensitivityBeta, 5 years: GPIQ 1.16SEPQ 0.81; Market = 1

GPIQ and SEPQ 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 SEPQ

In short

Stated mandate

Why people hold it