GPIX vs HRSK: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

Toews Agility Shares Hedged Risk ETF

HRSKFNYSE Arca

Overlap

28.6%by weight

Expense ratio

GPIX −0.66pt a year

GPIX0.29%HRSK0.95%

Avg volume · 30D

GPIX 193.3×the volume

GPIX1.17MHRSK6.06K

GPIX vs HRSK Performance

Aug 7, 2026 – Nov 9, 2026

−1.2%GPIX−4.1%HRSK

Expense ratio: GPIX 0.29%, better; HRSK 0.95%
Fund size: GPIX $6.33B; HRSK $33M
1Y total return: GPIX +14.2%; HRSK No data
Yield (12M): GPIX 8.43%; HRSK No data
Holdings: GPIX 494; HRSK 120
Avg volume (30D): GPIX 1.17M sh, better; HRSK 6.06K sh
NAV per share: GPIX $53.34; HRSK $24.38
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, HRSK, with each pillar’s weight
Pillar	GPIX	HRSK
Cost30% weight	A89Higher	F14
Mission25% weight	A100	Not scored
Risk15% weight	C47Higher	D37
Tradability15% weight	B59Higher	F12
Holdings10% weight	A74Higher	C46
Durability5% weight	A78Higher	D26

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and HRSK are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds

See all 51 ›

GPIX ranks 4th and HRSK 50th of 51 funds in the S&P 500 Option Income Category.

Rank 1ABALIiShares U.S. Large Cap Premium Income Active ETFScore 82
Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 82
Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80
Rank 4AGPIXGoldman Sachs S&P 500 Premium Income ETFScore 78
Rank 5ARSPAInvesco S&P 500 Equal Weight Income Advantage ETFScore 77
Rank 49DYSPYGraniteShares YieldBOOST SPY ETFScore 28
Rank 50FHRSKToews Agility Shares Hedged Risk ETFScore 23
Rank 50FMRSKToews Agility Shares Managed Risk ETFScore 23

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

HRSKFToews Agility Shares Hedged Risk 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.

HRSK Most S&P 500 options funds sell away upside for premium. HRSK buys protection instead: long-dated puts on its large-cap sleeve, shorter-dated calls to help pay for them, and no stated cap on gains.

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.

HRSK The Fund seeks large-cap U.S. equity exposure while limiting adverse market risk through long-dated put options and using shorter-dated call options as part of its strategy.

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.

HRSK The contrarian build in a crowd of premium sellers: it holds large-cap US equity, buys long-dated put options to limit downside, and writes shorter-dated calls as part of the strategy.prnewswire.com
No stated performance cap, so the equity side isn't structurally boxed in on the upside the way covered-call and buffer payoffs are.prnewswire.com
Launched in 2026 via a Section 351 exchange, which let eligible investors move appreciated holdings in tax deferred and keep their original cost basis.prnewswire.com
Toews has run managed-risk strategies since 1994, so the hedging playbook here is older than the ETF wrapper around it.prnewswire.com

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.

HRSK At 0.95% a year it runs above the 0.60% median for S&P 500 options funds, and rivals like IVVW (0.25%) and GPIX (0.35%) charge a fraction of it.
Small asset base and light trading, so bid-ask spreads can run wider than the category heavyweights'.
Protection isn't free: put premiums come out of returns in calm markets, and the 2026 launch leaves a short record of how the overlay acts in a deep selloff.

Full GPIX profile⁠

Full HRSK profile⁠

GPIX vs HRSK Holdings

How GPIX and HRSK differ

Overlap by weight

28.6%

Shared holdings make up 61.9% of GPIX and 37.9% of HRSK.

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

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

Level by level

Holdings98 in both28.6%
Sector11 Sectors96.0%
Asset classStocks100%
Countryby domicile99.8%

Sector

Sector weights in GPIX and HRSK, widest gap first
Sector	Gap	GPIX	HRSK
Technology	HRSK +1.4 points	36.5%	37.9%
Financials	GPIX +1.3 points	12.7%	11.4%
Consumer Staples	HRSK +1.3 points	5.1%	6.4%
Consumer Discretionary	GPIX +1.2 points	10.0%	8.8%
Health Care	GPIX +0.8 points	10.6%	9.8%
Energy	HRSK +0.7 points	3.5%	4.2%
Communication	HRSK +0.7 points	8.1%	8.8%
Industrials	GPIX +0.2 points	7.5%	7.3%
Utilities	GPIX +0.1 points	2.2%	2.0%
Real Estate	GPIX +0.1 points	1.9%	1.8%
Materials	Same weight	1.7%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in GPIX and HRSK, widest gap first
Country	Gap	GPIX	HRSK
United States	HRSK +0.2 points	99.5%	99.7%
Switzerland	GPIX +0.1 points	0.3%	0.2%
China	Same weight	0.1%	0.1%
United Kingdom	GPIX +0.1 points	0.1%	0.0%
Mexico	Same weight	0.0%	0.0%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

GPIX38.0%
HRSK61.6%

Securities held

GPIX493
HRSK118

Asset class

GPIX: Stocks
HRSK: Stocks

Holdings

Only in GPIX395
In both98
Only in HRSK20

Only in GPIX

395 securities, 38.2% of GPIX by weight

Tesla Inc.1.60%
Johnson & Johnson1.05%
Mastercard Incorporated0.83%
AbbVie Inc.0.81%
Costco Wholesale Corporation0.73%
General Electric Company0.54%
Texas Instruments Inc.0.46%
Thermo Fisher Scientific Inc0.42%
Palo Alto Networks Inc.0.41%
Rtx Corp0.40%
Intl Business Machines Corp0.38%
Linde PLC0.36%
Analog Devices Inc.0.36%
Arista Networks, Inc.0.34%
Kla Corp0.34%
Morgan Stanley0.34%
Verizon Communications Inc.0.33%
Amphenol Corp Cl-A (New)0.32%
Abbott Laboratories0.31%
American Express Co.0.30%
Salesforce Inc0.29%
Welltower, Inc.0.29%
Tjx Companies Inc (New)0.27%
Intuitive Surgical, Inc.0.27%
Pfizer Inc.0.27%
Deere & Company0.26%
S&P Global Inc.0.25%
Accenture PLC0.25%
The Southern Co.0.25%
Chubb Limited0.24%
Newmont Corp0.24%
Medtronic Public Limited Company0.22%
Danaher Corporation0.21%
The Progressive Corporation0.21%
Eaton Corp PLC0.21%
Automatic Data Processing Inc0.20%
Parker-Hannifin Corp.0.20%
Booking Holdings Inc.0.20%
Intercontinental Exchange Inc0.19%
Mckesson Corporation0.19%
Prologis Inc0.19%
Starbucks Corp.0.19%
Cme Group Inc.0.18%
Stryker Corporation0.18%
Comcast Corporation0.18%
Cvs Health Corp0.17%
The Bank of Ny Mellon Corp0.17%
Equinix, Inc.0.17%
General Motors Company0.17%
Emerson Electric Co.0.17%

Only in HRSK

20 securities, 56.2% of HRSK by weight

Bbh Sweep Vehicle21.35%
Ss Tech Sel Sect6.71%
Ss Health Care4.79%
Ss Financial Sel3.72%
Ss Industrial3.19%
Ss Consumer Disc3.08%
Ss Comm Slct Etf3.03%
Ishares Mornings2.01%
Vng Ms Mc Etf-Ui1.29%
Ss Real Estate1.25%
Spdr Portfolio’s1.18%
Vanguard S&P 5001.04%
Vang Russ Growth0.94%
Ss Utilities Sel0.85%
Ss Materials Etf0.56%
Ss Energy Select0.54%
Eaton Corp PLC0.37%
Royal Caribbean0.20%
Camden Prop Tr0.08%
Medtronic PLC0.01%

Weight gaps

All 98 Holdings in both funds, largest gap first.

Holding weights in GPIX and HRSK, widest gap first
Holding	Gap	GPIX	HRSK
NVIDIA CorporationNVDA	GPIX +5.80 points	7.15%	1.35%
Apple Inc.AAPL	GPIX +3.73 points	7.83%	4.10%
Microsoft CorporationMSFT	GPIX +2.92 points	6.24%	3.32%
Alphabet Inc.GOOGL	GPIX +2.74 points	3.53%	0.79%
Amazon.com IncAMZN	GPIX +2.74 points	4.04%	1.30%
Berkshire Hathaway Inc.BRK.B	GPIX +1.57 points	1.70%	0.13%
Meta Platforms Inc-Class AMETA	GPIX +1.51 points	2.21%	0.70%
Eli Lilly & CoLLY	GPIX +1.30 points	1.72%	0.42%
Micron Technology, Inc.MU	GPIX +1.22 points	1.24%	0.02%
Altria Group, Inc.MO	HRSK +1.15 points	0.18%	1.33%
Advanced Micro Devices Inc.AMD	GPIX +1.05 points	1.20%	0.15%
Exxonmobil Holdings CorporationXOM	GPIX +1.02 points	1.08%	0.06%
Visa Inc.V	GPIX +0.86 points	1.14%	0.28%
Philip Morris Intl IncPM	HRSK +0.80 points	0.49%	1.29%
Marathon Petroleum CorporationMPC	HRSK +0.60 points	0.16%	0.76%
Mondelez International, Inc.MDLZ	HRSK +0.58 points	0.13%	0.71%
Bank of America CorpBAC	HRSK +0.58 points	0.29%	0.87%
Alphabet Inc.GOOG	GPIX +0.55 points	0.87%	0.32%
The Procter & Gamble CompanyPG	GPIX +0.53 points	0.65%	0.12%
Walmart IncWMT	HRSK +0.48 points	0.87%	1.35%
Walt Disney Company (The)DIS	GPIX +0.47 points	0.51%	0.04%
JPMorgan Chase & CoJPM	HRSK +0.43 points	1.38%	1.81%
Chevron CorporationCVX	GPIX +0.40 points	0.68%	0.28%
Broadcom Inc.AVGO	HRSK +0.39 points	2.00%	2.39%
Wells Fargo & CompanyWFC	GPIX +0.39 points	0.43%	0.04%
ConocophillipsCOP	HRSK +0.35 points	0.25%	0.60%
Coca-Cola Company (The)KO	GPIX +0.35 points	0.60%	0.25%
Crowdstrike Holdings, Inc.CRWD	GPIX +0.34 points	0.36%	0.02%
Ge Vernova LlcGEV	GPIX +0.33 points	0.35%	0.02%
The Home Depot, Inc.HD	HRSK +0.32 points	0.49%	0.81%
Seagate Technology Holdin PLCSTX	HRSK +0.32 points	0.11%	0.43%
Netflix, Inc.NFLX	HRSK +0.31 points	0.16%	0.47%
Intel CorporationINTC	GPIX +0.29 points	0.30%	<0.01%
Marriott International, IncMAR	HRSK +0.29 points	0.14%	0.43%
The Williams Companies, Inc.WMB	HRSK +0.26 points	0.15%	0.41%
Gilead SciencesGILD	GPIX +0.25 points	0.33%	0.08%
Duke Energy CorporationDUK	GPIX +0.23 points	0.24%	<0.01%
Merck & Co., Inc.MRK	GPIX +0.22 points	0.57%	0.35%
AT&T Inc.T	GPIX +0.21 points	0.26%	0.05%
Echostar CorporationECHO	HRSK +0.21 points	<0.01%	0.21%
Lam Research CorporationLRCX	GPIX +0.20 points	0.26%	0.06%
Blackstone Group Inc/TheBX	HRSK +0.20 points	0.19%	0.39%
Sandisk CorporationSNDK	GPIX +0.19 points	0.20%	0.01%
Nisource Inc.NI	HRSK +0.16 points	0.05%	0.21%
Union Pacific Corp.UNP	GPIX +0.15 points	0.27%	0.12%
Charles Schwab CorporationSCHW	HRSK +0.15 points	0.13%	0.28%
Hewlett Packard Enterprise CoHPE	HRSK +0.14 points	0.12%	0.26%
Bristol-Myers Squibb CompanyBMY	GPIX +0.14 points	0.17%	0.03%
Western Digital CorporationWDC	HRSK +0.14 points	0.18%	0.32%
Caterpillar Inc (Delaware)CAT	GPIX +0.14 points	0.26%	0.12%
U.s. BancorpUSB	GPIX +0.14 points	0.17%	0.03%
American Electric Power IncAEP	HRSK +0.14 points	0.17%	0.31%
Nextera Energy, Inc.NEE	GPIX +0.14 points	0.25%	0.11%
Freeport-Mcmoran IncFCX	HRSK +0.14 points	0.17%	0.31%
UnitedHealth Group IncorporatedUNH	HRSK +0.13 points	0.58%	0.71%
Vertex Pharmaceuticals IncorporatedVRTX	GPIX +0.13 points	0.21%	0.08%
Capital One Financial CorpCOF	GPIX +0.13 points	0.25%	0.12%
Boeing CompanyBA	GPIX +0.12 points	0.22%	0.10%
Emcor Group, Inc.EME	HRSK +0.11 points	0.02%	0.13%
Delta Air Lines, Inc.DAL	HRSK +0.11 points	0.09%	0.20%
Palantir Technologies Inc.PLTR	HRSK +0.10 points	0.61%	0.71%
BlackRock Funding, Inc.BLK	GPIX +0.11 points	0.36%	0.25%
Dell Technologies Inc.DELL	HRSK +0.10 points	0.17%	0.27%
Pepsico, Inc.PEP	GPIX +0.09 points	0.27%	0.18%
Steel Dynamics, Inc.STLD	HRSK +0.09 points	0.04%	0.13%
Cisco Systems, Inc.CSCO	HRSK +0.08 points	0.46%	0.54%
Ciena CorporationCIEN	GPIX +0.08 points	0.09%	<0.01%
Qualcomm IncQCOM	HRSK +0.08 points	0.31%	0.39%
Amgen Inc.AMGN	GPIX +0.08 points	0.40%	0.32%
Uber Technologies, Inc.UBER	GPIX +0.07 points	0.10%	0.03%
Nucor CorporationNUE	HRSK +0.07 points	0.08%	0.15%
D.r. Horton, Inc.DHI	GPIX +0.07 points	0.08%	0.01%
On Semiconductor CorporationON	GPIX +0.07 points	0.07%	0.01%
Howmet Aerospace Inc.HWM	GPIX +0.06 points	0.14%	0.08%
Regeneron Pharmaceutical IncREGN	HRSK +0.06 points	0.13%	0.19%
Comfort Systems Usa IncFIX	HRSK +0.05 points	0.10%	0.15%
Lockheed Martin CorporationLMT	HRSK +0.05 points	0.18%	0.23%
Dow IncDOW	HRSK +0.05 points	0.03%	0.08%
Kinder Morgan IncKMI	GPIX +0.04 points	0.10%	0.06%
Mc Donalds CorpMCD	GPIX +0.04 points	0.23%	0.19%
Applied Materials IncAMAT	GPIX +0.04 points	0.29%	0.25%
Zimmer BiometZBH	GPIX +0.03 points	0.04%	<0.01%
Corning IncorporatedGLW	HRSK +0.02 points	0.16%	0.18%
Devon Energy Corporation (New)DVN	HRSK +0.02 points	0.06%	0.08%
Honeywell International IncHON	HRSK +0.02 points	0.08%	0.10%
Rockwell Automation IncROK	GPIX +0.02 points	0.08%	0.06%
Oracle CorporationORCL	GPIX +0.01 points	0.16%	0.15%
Citigroup Inc.C	GPIX +0.01 points	0.38%	0.37%
Keysight Technologies, Inc.KEYS	HRSK +0.01 points	0.14%	0.15%
Gen Digital IncGEN	GPIX +0.01 points	0.03%	0.02%
Lowes Companies IncLOW	GPIX +0.01 points	0.14%	0.13%
Firstenergy Corp.FE	HRSK +0.01 points	0.03%	0.04%
Apa CorporationAPA	Same weight	0.02%	0.02%
Albemarle CorpALB	Same weight	0.03%	0.03%
Eqt CorporationEQT	GPIX +0.01 points	0.06%	0.05%
Honeywell Aerospace Inc.HONA	GPIX +0.01 points	0.08%	0.07%
Intuit IncINTU	Same weight	0.17%	0.17%
Viatris IncVTRS	Same weight	0.03%	0.03%

All 497 GPIX holdings⁠All HRSK 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.

GPIX vs HRSK Cost

Overpaying HRSK vs GPIX

$11,917

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

GPIX 0.29%
$5,952
HRSK 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
HRSK 0.95%
Overpaying

Year by year

Year	GPIX	HRSK	Overpaying
10	$527	$1,678	$1,151
20	$2,044	$6,322	$4,278
30	$5,952	$17,869	$11,917

Expense ratio

0.29%GPIX, cheaper
0.95%HRSK

GPIX0.29%HRSK0.95%

0.10%1.18%

Middle half of S&P 500 Option Income funds
Median 0.60%

GPIX 5th cheapest of 51 funds

HRSK 43rd cheapest of 51 funds

GPIX vs HRSK Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIX 8.43%; HRSK No data
Payout (12M): GPIX $4.60; HRSK None
Last payment: GPIX $0.39; HRSK No data
Ex-dividend: GPIX Nov 2, 2026; HRSK No data
Paid on: GPIX Nov 6, 2026; HRSK No data
Frequency: GPIX Monthly; HRSK No data

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 36 paymentsAll GPIX payments⁠

HRSKAll HRSK payments⁠

No distribution history available.

GPIX vs HRSK Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GPIX 10.4%HRSK No data
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49HRSK No data
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023HRSK No data
Market sensitivityBeta, 5 years: GPIX 0.84HRSK 1.03; Market = 1

GPIX and HRSK in the news

All news⁠

New ETFs
AllianceBernstein lists an S&P 500 income ETF that does not say how much the calls cover
Nov 5, 2026GPIX
ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026GPIX

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GPIX vs HRSK

In short

Stated mandate

Why people hold it

Worth knowing

How GPIX and HRSK differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in HRSK

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

AllianceBernstein lists an S&P 500 income ETF that does not say how much the calls cover

Franklin Templeton files two PayDay ETFs that would pay every two weeks

How GPIX and HRSK differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in HRSK

Weight gaps