GPIQ vs TQQY

GPIQAGoldman Sachs Nasdaq-100 Premium Income ETF

TQQYFGraniteShares YieldBOOST QQQ 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.

TQQY Most Nasdaq-100 income funds own the stocks and sell calls. TQQY owns none. It writes puts on a 3x leveraged QQQ fund, where fatter option premiums are the entire point, and pays 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.

TQQY The fund seeks income primarily by selling put options on leveraged ETFs tracking the 3x Long QQQ Daily ETF, while also seeking capped exposure to that leveraged ETF's performance.

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.

• TQQY Income engine: selling near-the-money puts on ProShares UltraPro QQQ, the 3x daily QQQ fund. Leverage makes those options richer, and that premium is the product.graniteshares.comgraniteshares.com 2
• It can pair each written put with a cheaper, lower-strike put bought alongside it, trimming downside on the position in exchange for less premium collected.graniteshares.comgraniteshares.com 2
• No QQQ shares and no dividends from them: at least 80% of net assets go into derivatives on the leveraged ETF. This is an options book, not a stock portfolio.graniteshares.com
• Pays monthly, and the cash backing the options can sit in Treasuries, money market funds and short-term bond ETFs.graniteshares.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.

• TQQY Costs 1.15% net of a waiver through December 31, 2026, against a 7.25% gross figure, and that lands above the category median.
• Cheaper routes to Nasdaq-100 income exist: JEPQ at 0.35%, GPIQ at 0.29% net of a waiver through April 30, 2027.
• Gains in the leveraged ETF are capped by design, distributions can include return of capital, and the fund stays small and thinly traded.graniteshares.comgraniteshares.com 2

Full GPIQ profile⁠

Full TQQY profile⁠