GPIX vs HEMI

GPIXAGoldman Sachs S&P 500 Premium Income ETF

HEMIBHartford Equity Premium Income ETF

In short

GPIX Most option-income funds sell the whole rally for yield. GPIX is written to ask for both: current income and preserved prospects for capital appreciation, on a roughly 500-stock S&P 500 core, at 0.35%, paid monthly.

HEMI Hartford's late entry into the crowded S&P 500 premium-income field, with a twist: an actively picked, value-quality-momentum stock book sits under the options overlay, aimed at tax-efficient income while leaving room to appreciate.

Stated mandate

GPIX The Fund seeks current income while preserving prospects for capital appreciation. It invests primarily in benchmark-related stocks and sells call options providing exposure to the benchmark to generate premium income.

HEMI Seeks tax-efficient current income while retaining potential for capital appreciation.

Why people hold it

• GPIX The mandate is income without giving up on growth: hold benchmark stocks, sell calls tied to the S&P 500 for premium, and keep prospects for capital appreciation.
• The 0.35% fee sits below the typical charge among S&P 500 option-income peers, including older buy-write names like XYLD.
• Roughly 500 stocks underneath and cash out the door monthly, so the equity engine is the index itself rather than a synthetic stand-in.
• A multi-billion-dollar, actively traded fund launched in 2023, and one of the tighter implementations of this strategy in its peer group.

• HEMI Not a plain index buy-write. An active portfolio screened on value, quality and momentum sits under the options sleeve, with the S&P 500 as the reference point.
• The mandate is written for tax-efficient current income while retaining potential for capital appreciation, not income at any cost.
• At 0.58%, the fee lands just under the median for S&P 500 options-income ETFs, a group where plenty of funds charge north of 0.90%.

Worth knowing

• GPIX Premium income comes from selling upside. Where calls are written, gains are capped, so a fast melt-up in the S&P 500 leaves some return on the table.
• Distributions can include return of capital, meaning part of a payout may be your own money coming back. The fund's tax disclosures show the split.
• This is an equity fund, not a hedge. Option premium softens the ride; it does not put a floor under a market drop.

• HEMI It launched in December 2025, so there is no multi-year record showing how the strategy handles a full market cycle.
• A small asset base and light trading make spreads wider than in the category's giants. Limit orders matter more here.
• Cheaper rivals crowd the same trade: IVVW at 0.25%, RSPA at 0.32%, GPIX and BALI at 0.35%.

Full GPIX profile⁠

Full HEMI profile⁠