GPIX vs ISPY: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

ProShares S&P 500 High Income ETF

ISPYBCboe

Overlap

78.2%by weight

Expense ratio

GPIX −0.26pt a year

GPIX0.29%ISPY0.55%

Avg volume · 30D

GPIX 13.7×the volume

GPIX1.14MISPY83.3K

GPIX vs ISPY Performance

Oct 31, 2025 – Oct 30, 2026

+13.2%GPIX+8.4%ISPY

Expense ratio: GPIX 0.29%, better; ISPY 0.55%
Fund size: GPIX $6.46B; ISPY $1.14B
1Y total return: GPIX +13.2%, better; ISPY +8.4%
Yield (12M): GPIX 8.32%, better; ISPY 5.61%
Holdings: GPIX 486; ISPY 504
Avg volume (30D): GPIX 1.14M sh, better; ISPY 83.3K sh
NAV per share: GPIX $56.03; ISPY $47.26
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, ISPY, with each pillar’s weight
Pillar	GPIX	ISPY
Cost30% weight	A87Higher	B57
Mission25% weight	A100Higher	A95
Risk15% weight	C40Higher	D27
Tradability15% weight	B68	A70Higher
Holdings10% weight	B68Higher	C51
Durability5% weight	A77Higher	A71

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and ISPY 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 ISPY 20th of 51 funds in the S&P 500 Option Income Category.

Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
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 76
Rank 19BTSPYTappAlpha SPY Growth & Daily Income ETFScore 64
Rank 20BISPYProShares S&P 500 High Income ETFScore 63
Rank 20BPEPSParametric Equity Plus ETFScore 63

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

ISPYBProShares S&P 500 High 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.

ISPY Most covered-call funds write one option a month. ISPY writes them daily, slicing S&P 500 premium into small pieces while still aiming for long-term returns in line with the index itself.

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.

ISPY The Fund seeks high income potential through a daily-options covered-call strategy and seeks long-term returns consistent with the S&P 500 Index.

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.

ISPY The daily-options twist: premium is harvested in small, frequent slices rather than one monthly bet, and the fund also targets long-run returns consistent with the S&P 500.proshares.com
Income is a stated policy, not a byproduct: ProShares pays monthly and declares a minimum annual distribution target of 6%.proshares.com
At 0.56%, the expense ratio runs below the median for S&P 500 option-income funds, a corner of the market where fees often climb past 1%.
A multi-billion-dollar fund holding roughly 500 stocks, and it does what the label says: the equity sleeve stays close to the index it references.

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.

ISPY Cheaper shelf-mates exist. IVVW charges 0.25%, PBP 0.29%, GPIX and BALI 0.35%, all writing calls on the same large-cap universe.
Selling calls every day trims what you keep in a fast rally, while the full drawdown of holding the S&P 500 still rides along underneath.
ProShares discloses that distributions may include return of capital, meaning part of a payout can be your own principal handed back.proshares.com

Full GPIX profile⁠

Full ISPY profile⁠

GPIX vs ISPY Holdings

How GPIX and ISPY differ

Overlap by weight

78.2%

Shared holdings make up 94.2% of GPIX and 81.6% of ISPY.

Level by level

Holdings457 in both78.2%
Sector11 Sectors89.6%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in GPIX and ISPY, widest gap first
Sector	More in GPIXMore in ISPY	GPIX	ISPY
Financials	ISPY +8.4 points	15.2%	23.6%
Technology	GPIX +5.1 points	38.8%	33.7%
Communication	ISPY +2.0 points	5.9%	7.9%
Consumer Discretionary	GPIX +1.4 points	9.1%	7.7%
Health Care	GPIX +1.2 points	9.7%	8.5%
Industrials	GPIX +1.0 points	7.3%	6.3%
Consumer Staples	GPIX +0.5 points	4.6%	4.1%
Energy	GPIX +0.4 points	3.8%	3.4%
Utilities	GPIX +0.2 points	2.0%	1.8%
Materials	GPIX +0.2 points	1.8%	1.6%
Real Estate	GPIX +0.2 points	1.7%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in GPIX and ISPY, widest gap first
Country	More in GPIXMore in ISPY	GPIX	ISPY
United States	Same weight	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
United Kingdom	GPIX +0.1 points	0.1%	0.0%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

GPIX38.7%
ISPY44.1%

Securities held

GPIX485
ISPY503

Asset class

GPIX: Equity
ISPY: Equity

Holdings

Only in GPIX28
In both457
Only in ISPY46

Only in GPIX

28 securities, 6.0% of GPIX by weight

State Street Communication Services Select Sector3.48%
Linde PLC0.34%
Eaton Corp PLC0.26%
Chubb Limited0.23%
Accenture PLC0.22%
Medtronic Public Limited Company0.20%
Johnson Controls International Public Limited Comp0.14%
Elevance Health Inc0.13%
Slb Ltd0.13%
Royal Caribbean Group0.12%
Becton, Dickinson and Company0.10%
Nxp Semiconductors N.v.0.09%
Carnival Corporation0.06%
Vivmark Residential0.06%
Kenvue Inc.0.06%
Block, Inc.0.06%
Invesco Ltd.0.04%
Fiserv, Inc.0.04%
Aptiv PLC0.03%
Willis Towers Watson PLC0.03%
Crh Public Limited Company0.03%
Smurfit Westrock Public Limited Company0.03%
Everest Group Ltd0.03%
Norwegian Cruise Line Hldg Ltd0.02%
Pentair Plc.0.02%
Lyondellbasell Industries N.v.0.02%
Ball Corporation0.02%
Allegion Public Limited Company0.02%

Only in ISPY

46 securities, 16.1% of ISPY by weight

Proshares Genius Mny Mkt Etf13.22%
Goldman Sachs Group Inc0.34%
Linde PLC0.31%
Accenture Plc-Cl A0.20%
Eaton Corp PLC0.19%
Chubb Ltd0.17%
Medtronic PLC0.16%
Elevance Health Inc0.12%
Johnson Controls Internation0.12%
Comcast Corp-Class A0.11%
Slb Ltd0.10%
Royal Caribbean Cruises Ltd0.10%
Nxp Semiconductors NV0.08%
Applovin Corp-Class A0.08%
Crh PLC0.08%
Becton Dickinson and Co0.07%
Vivmark Residential0.06%
Block Inc0.05%
Carnival Corp Ltd0.05%
Willis Towers Watson PLC0.04%
Fiserv Inc0.03%
Smurfit Westrock PLC0.03%
Omnicom Group0.03%
Fidelity National Info Serv0.03%
General Mills Inc0.02%
Lyondellbasell Indu-Cl A0.02%
Ball Corp0.02%
Allegion PLC0.02%
Everest Group Ltd0.02%
Echostar Corp-A0.02%
Reddit Inc-Cl A0.02%
Charter Communications Inc-A0.02%
Invesco Ltd0.02%
Jack Henry & Associates Inc0.01%
Lululemon Athletica Inc0.01%
Tko Group Holdings Inc0.01%
Clorox Company0.01%
Pentair PLC0.01%
News Corp - Class A0.01%
Udr Inc0.01%
Camden Property Trust0.01%
Aptiv PLC0.01%
Norwegian Cruise Line Holdin0.01%
Erie Indemnity Company-Cl A<0.01%
Skydance Corp<0.01%
News Corp - Class B<0.01%

Weight gaps

The 100 widest of 457 Holdings in both funds.

Holding weights in GPIX and ISPY, widest gap first
Holding	More in GPIXMore in ISPY	GPIX	ISPY
NVIDIA CorporationNVDA	GPIX +1.42 points	7.82%	6.40%
Apple Inc.AAPL	GPIX +1.16 points	7.66%	6.50%
Microsoft CorporationMSFT	GPIX +0.91 points	5.92%	5.01%
Alphabet Inc.GOOG	ISPY +0.86 points	0.85%	1.71%
Alphabet Inc.GOOGL	GPIX +0.70 points	2.82%	2.12%
Amazon.com IncAMZN	GPIX +0.52 points	3.57%	3.05%
Broadcom Inc.AVGO	GPIX +0.45 points	2.46%	2.01%
Meta Platforms Inc-Class AMETA	ISPY +0.44 points	1.31%	1.75%
Advanced Micro Devices Inc.AMD	GPIX +0.32 points	1.39%	1.07%
Micron Technology, Inc.MU	GPIX +0.32 points	1.61%	1.29%
Intel CorporationINTC	GPIX +0.27 points	0.69%	0.42%
JPMorgan Chase & CoJPM	GPIX +0.25 points	1.41%	1.16%
Berkshire Hathaway Inc.BRK.B	GPIX +0.22 points	1.53%	1.31%
Tesla Inc.TSLA	GPIX +0.21 points	1.67%	1.46%
Walt Disney Company (The)DIS	ISPY +0.20 points	0.05%	0.25%
Eli Lilly & CoLLY	GPIX +0.19 points	1.66%	1.47%
Exxonmobil Holdings CorporationXOM	GPIX +0.15 points	1.15%	1.00%
Verizon Communications Inc.VZ	ISPY +0.15 points	0.09%	0.24%
Johnson & JohnsonJNJ	GPIX +0.15 points	1.00%	0.85%
The Procter & Gamble CompanyPG	GPIX +0.13 points	0.62%	0.49%
Netflix, Inc.NFLX	ISPY +0.13 points	0.20%	0.33%
Visa Inc.V	GPIX +0.14 points	1.04%	0.91%
AT&T Inc.T	ISPY +0.13 points	0.06%	0.19%
Morgan StanleyMS	GPIX +0.13 points	0.41%	0.28%
Cisco Systems, Inc.CSCO	GPIX +0.12 points	0.65%	0.53%
Palantir Technologies Inc.PLTR	GPIX +0.11 points	0.66%	0.55%
AbbVie Inc.ABBV	GPIX +0.11 points	0.78%	0.67%
Duke Energy CorporationDUK	GPIX +0.10 points	0.23%	0.13%
Chevron CorporationCVX	GPIX +0.11 points	0.71%	0.60%
The Southern Co.SO	GPIX +0.10 points	0.24%	0.14%
Mastercard IncorporatedMA	GPIX +0.10 points	0.77%	0.67%
Applied Materials IncAMAT	GPIX +0.10 points	0.50%	0.40%
T-Mobile Us, Inc.TMUS	ISPY +0.10 points	<0.01%	0.10%
Bank of America CorpBAC	GPIX +0.10 points	0.52%	0.42%
UnitedHealth Group IncorporatedUNH	GPIX +0.10 points	0.57%	0.47%
Lowes Companies IncLOW	ISPY +0.09 points	0.06%	0.15%
Walmart IncWMT	GPIX +0.09 points	0.80%	0.71%
Caterpillar Inc (Delaware)CAT	GPIX +0.09 points	0.46%	0.37%
Lam Research CorporationLRCX	GPIX +0.08 points	0.47%	0.39%
Servicenow IncNOW	GPIX +0.08 points	0.22%	0.14%
Coca-Cola Company (The)KO	GPIX +0.08 points	0.55%	0.47%
Tjx Companies Inc (New)TJX	GPIX +0.08 points	0.28%	0.20%
BlackRock Funding, Inc.BLK	GPIX +0.08 points	0.29%	0.21%
American Electric Power IncAEP	GPIX +0.08 points	0.17%	0.09%
Qualcomm IncQCOM	GPIX +0.08 points	0.31%	0.23%
Thermo Fisher Scientific IncTMO	GPIX +0.08 points	0.41%	0.33%
General Motors CompanyGM	GPIX +0.08 points	0.18%	0.10%
Ptc Inc.PTC	GPIX +0.07 points	0.10%	0.03%
Costco Wholesale CorporationCOST	GPIX +0.07 points	0.65%	0.58%
The Home Depot, Inc.HD	ISPY +0.07 points	0.35%	0.42%
Kimberly-Clark CorporationKMB	ISPY +0.08 points	0.01%	0.09%
Palo Alto Networks Inc.PANW	GPIX +0.07 points	0.46%	0.39%
Crowdstrike Holdings, Inc.CRWD	GPIX +0.07 points	0.40%	0.33%
Sandisk CorporationSNDK	GPIX +0.07 points	0.29%	0.22%
Citigroup Inc.C	GPIX +0.07 points	0.33%	0.26%
Rtx CorpRTX	GPIX +0.06 points	0.41%	0.35%
Texas Instruments Inc.TXN	GPIX +0.06 points	0.42%	0.36%
Marvell Technology, Inc.MRVL	GPIX +0.07 points	0.29%	0.22%
Merck & Co., Inc.MRK	GPIX +0.06 points	0.54%	0.48%
Wells Fargo & CompanyWFC	GPIX +0.06 points	0.39%	0.33%
General Electric CompanyGE	GPIX +0.06 points	0.47%	0.41%
Analog Devices Inc.ADI	GPIX +0.06 points	0.32%	0.26%
Williams-Sonoma, Inc.WSM	GPIX +0.06 points	0.10%	0.04%
Kla CorpKLAC	GPIX +0.06 points	0.33%	0.27%
Arista Networks, Inc.ANET	GPIX +0.06 points	0.29%	0.23%
Oracle CorporationORCL	GPIX +0.06 points	0.35%	0.29%
Ameriprise Financial, Inc.AMP	GPIX +0.05 points	0.11%	0.06%
Amgen Inc.AMGN	GPIX +0.05 points	0.38%	0.33%
Philip Morris Intl IncPM	GPIX +0.06 points	0.48%	0.42%
Ge Vernova LlcGEV	GPIX +0.06 points	0.35%	0.29%
Ebay Inc.EBAY	GPIX +0.06 points	0.12%	0.06%
Transdigm Group IncorporatedTDG	GPIX +0.06 points	0.14%	0.08%
Exelon CorporationEXC	ISPY +0.05 points	<0.01%	0.06%
Illinois Tool WorksITW	GPIX +0.06 points	0.15%	0.09%
Prologis IncPLD	GPIX +0.05 points	0.21%	0.16%
Veeva Systems IncVEEV	GPIX +0.05 points	0.11%	0.06%
Intercontinental Exchange IncICE	GPIX +0.06 points	0.18%	0.12%
Simon Property Group IncSPG	GPIX +0.06 points	0.15%	0.09%
Emerson Electric Co.EMR	GPIX +0.05 points	0.17%	0.12%
Freeport-Mcmoran IncFCX	GPIX +0.05 points	0.17%	0.12%
Raymond James Financial, Inc.RJF	GPIX +0.05 points	0.09%	0.04%
Monster Beverage CorporationMNST	GPIX +0.05 points	0.14%	0.09%
Mc Donalds CorpMCD	GPIX +0.05 points	0.29%	0.24%
Ross Stores IncROST	GPIX +0.06 points	0.15%	0.09%
Dell Technologies Inc.DELL	GPIX +0.05 points	0.22%	0.17%
The Bank of Ny Mellon CorpBNY	GPIX +0.05 points	0.18%	0.13%
Roper Technologies IncROP	ISPY +0.05 points	<0.01%	0.06%
Airbnb Inc.ABNB	GPIX +0.05 points	0.14%	0.09%
Public-Svc Enterprise GroupPEG	GPIX +0.05 points	0.10%	0.05%
Amphenol Corp Cl-A (New)APH	GPIX +0.05 points	0.30%	0.25%
O'reilly Automotive, Inc.ORLY	GPIX +0.05 points	0.14%	0.09%
Vulcan Materials CoVMC	GPIX +0.04 points	0.09%	0.05%
Intuitive Surgical, Inc.ISRG	GPIX +0.04 points	0.24%	0.20%
U.s. BancorpUSB	GPIX +0.05 points	0.17%	0.12%
Seagate Technology Holdin PLCSTX	GPIX +0.05 points	0.23%	0.19%
Nasdaq Inc.NDAQ	GPIX +0.05 points	0.11%	0.06%
Fortinet, Inc.FTNT	GPIX +0.04 points	0.15%	0.11%
Wec Energy Group, Inc.WEC	ISPY +0.05 points	<0.01%	0.05%
S&P Global Inc.SPGI	GPIX +0.05 points	0.23%	0.18%
Autozone, Inc.AZO	GPIX +0.04 points	0.11%	0.07%

All 490 GPIX holdings⁠All 513 ISPY 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 ISPY Cost

Overpaying ISPY vs GPIX

$4,952

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

GPIX 0.29%
$5,952
ISPY 0.55%
$10,904

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
ISPY 0.55%
Overpaying

Year by year

Year	GPIX	ISPY	Overpaying
10	$527	$988	$461
20	$2,044	$3,790	$1,746
30	$5,952	$10,904	$4,952

Expense ratio

0.29%GPIX, cheaper
0.55%ISPY

GPIX0.29%ISPY0.55%

0.10%1.18%

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

GPIX 5th cheapest of 51 funds

ISPY 22nd cheapest of 51 funds

GPIX vs ISPY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GPIX 8.32%, better; ISPY 5.61%
Payout (12M): GPIX $4.59; ISPY $2.65
Last payment: GPIX $0.40; ISPY $0.25
Ex-dividend: GPIX Oct 1, 2026; ISPY Oct 1, 2026
Paid on: GPIX Oct 7, 2026; ISPY Oct 7, 2026
Frequency: GPIX Monthly; ISPY Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 35 paymentsAll GPIX payments⁠

ISPYMonthly · 33 paymentsAll ISPY payments⁠

GPIX vs ISPY 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%ISPY 10.9%since Jan 2024
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49ISPY 0.95since Jan 2024
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023ISPY −16.9%since Dec 2023
Market sensitivityBeta, 5 years: GPIX 0.84ISPY 0.86; Market = 1

GPIX and ISPY in the news

All news⁠

ETF Filings
Franklin Templeton files two PayDay ETFs that would pay every two weeks
Oct 16, 2026GPIX

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GPIX vs ISPY

In short

Stated mandate

Why people hold it

Worth knowing

How GPIX and ISPY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in ISPY

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

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

How GPIX and ISPY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in ISPY

Weight gaps