GPIX vs RSPA: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

Invesco S&P 500 Equal Weight Income Advantage ETF

RSPAANYSE Arca

Overlap

36.7%by weight

Expense ratio

GPIX0.29%RSPA0.29%

Avg volume · 30D

GPIX 4.5×the volume

GPIX1.14MRSPA255K

GPIX vs RSPA Performance

Oct 31, 2025 – Oct 30, 2026

+13.2%GPIX+15.4%RSPA

Expense ratio: GPIX 0.29%; RSPA 0.29%
Fund size: GPIX $6.46B; RSPA $1.22B
1Y total return: GPIX +13.2%; RSPA +15.4%, better
Yield (12M): GPIX 8.32%; RSPA 9.16%, better
Holdings: GPIX 486; RSPA 526
Avg volume (30D): GPIX 1.14M sh, better; RSPA 255K sh
NAV per share: GPIX $56.03; RSPA $53.02
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, RSPA, with each pillar’s weight
Pillar	GPIX	RSPA
Cost30% weight	A87	A87
Mission25% weight	A100	Not scored
Risk15% weight	C40	A71Higher
Tradability15% weight	B68Higher	B59
Holdings10% weight	B68	A80Higher
Durability5% weight	A77Higher	A70

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and RSPA 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 RSPA 5th 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 6AGQINatixis Gateway Quality Income ETFScore 74

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

RSPAAInvesco S&P 500 Equal Weight Income Advantage 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.

RSPA Most S&P 500 option-income funds sit on a megacap-led index. RSPA runs the equal-weight version instead: about 500 stocks at roughly even weight, income paid monthly, 0.29% net of a waiver through August 31, 2027.

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.

RSPA The fund seeks exposure to the S&P 500 Equal Weight Index while using an active option-income overlay. It is designed to generate consistent monthly income while retaining growth potential and lower volatility.

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.

RSPA Fully replicates the S&P 500 Equal Weight Index, so its roughly 500 names carry similar weights and no handful of megacaps sets the tone.sec.gov
0.29% net (0.32% gross) under a waiver through August 31, 2027, below its 52-fund category median. Ties GPIX, at 0.29% net of a waiver through April 30, 2027.
Income comes from short-term equity-linked notes capped at 10% of net assets, with cash and Treasury bills held alongside the stocks. Paid out monthly.sec.gov sec.gov 2
Rates among the stronger builds in a crowded field of S&P 500 income-overlay funds.

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.

RSPA The overlay trades away some of the index's upside for premium income, so strong rallies land softer than plain equal-weight exposure.invesco.com sec.gov
Income flows through notes issued by banks rather than listed calls the fund writes itself, which adds credit exposure to those issuers.sec.gov
Launched in July 2024, so the strategy has yet to be tested across a full market cycle.

Full GPIX profile⁠

Full RSPA profile⁠

GPIX vs RSPA Holdings

How GPIX and RSPA differ

Overlap by weight

36.7%

Shared holdings make up 94.7% of GPIX and 70.5% of RSPA.

Level by level

Holdings464 in both36.7%
Sector11 Sectors75.6%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in GPIX and RSPA, widest gap first
Sector	More in GPIXMore in RSPA	GPIX	RSPA
Technology	GPIX +20.8 points	38.8%	18.0%
Industrials	RSPA +7.9 points	7.3%	15.2%
Real Estate	RSPA +4.1 points	1.7%	5.8%
Utilities	RSPA +3.9 points	2.0%	5.9%
Health Care	RSPA +2.9 points	9.7%	12.6%
Materials	RSPA +2.1 points	1.8%	3.9%
Communication	GPIX +1.9 points	5.9%	4.0%
Consumer Staples	RSPA +1.7 points	4.6%	6.3%
Financials	GPIX +1.7 points	15.2%	13.5%
Consumer Discretionary	RSPA +1.6 points	9.1%	10.7%
Energy	RSPA +0.2 points	3.8%	4.0%

Country, concentration and asset class

Country by domicile

Country weights in GPIX and RSPA, widest gap first
Country	More in GPIXMore in RSPA	GPIX	RSPA
United States	GPIX +0.7 points	99.5%	98.8%
Other countries (5)	RSPA +0.7 points	0.5%	1.2%

Concentration

Weight in the 10 largest Holdings

GPIX38.7%
RSPA21.1%

Securities held

GPIX485
RSPA524

Asset class

GPIX: Equity
RSPA: Equity

Holdings

Only in GPIX21
In both464
Only in RSPA60

Only in GPIX

21 securities, 5.5% 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%
Slb Ltd0.13%
Royal Caribbean Group0.12%
Nxp Semiconductors N.v.0.09%
Carnival Corporation0.06%
Invesco Ltd.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%
Allegion Public Limited Company0.02%

Only in RSPA

60 securities, 29.2% of RSPA by weight

Invesco Premier US Government Money Portfolio18.42%
Toronto-Dominion Bank/The 118.10% 11/30/20260.36%
JPMorgan Chase & Co 126.60% 11/24/20260.33%
Royal Bank of Canada 149.55% 11/17/20260.33%
Bank of Montreal 120.22% 11/27/20260.31%
Citigroup Inc 136.78% 11/25/20260.31%
JPMorgan Chase & Co 136.50% 11/04/20260.29%
Citigroup Inc 136.97% 11/16/20260.27%
Wells Fargo & Co 133.70% 11/18/20260.25%
Toronto-Dominion Bank/The 139.80% 11/06/20260.24%
Canadian Imperial Bank of Commerce 123.50% 11/23/20260.23%
Toronto-Dominion Bank/The 152.20% 11/05/20260.22%
Goldman Sachs Group Inc/The 124.90% 11/16/20260.22%
JPMorgan Chase & Co 116.00% 11/10/20260.21%
Accenture PLC0.21%
JPMorgan Chase & Co 113.90% 11/09/20260.21%
Wells Fargo & Co 139.53% 11/19/20260.20%
Wells Fargo & Co 137.58% 11/20/20260.20%
Morgan Stanley 109.65% 12/01/20260.19%
Carnival Corp Ltd0.19%
Bank of Montreal 121.52% 11/12/20260.19%
Bank of Montreal 124.65% 11/13/20260.19%
BNP Paribas SA 138.00% 11/03/20260.19%
Allegion plc0.18%
Norwegian Cruise Line Holdings Ltd0.18%
Royal Caribbean Cruises Ltd0.18%
NXP Semiconductors NV0.18%
Pentair PLC0.17%
Lululemon Athletica Inc0.16%
Johnson Controls International plc0.16%
Everest Group Ltd0.16%
Linde PLC0.16%
Chubb Ltd0.16%
EchoStar Corp0.16%
Medtronic PLC0.16%
Skydance Corp0.16%
Omnicom Group Inc0.15%
Erie Indemnity Co0.15%
Willis Towers Watson PLC0.15%
Crh PLC0.15%
LyondellBasell Industries NV0.15%
Smurfit Westrock PLC0.15%
Jack Henry & Associates Inc0.15%
UDR Inc0.15%
Aptiv PLC0.15%
Clorox Co/The0.15%
Fidelity National Information Services Inc0.15%
Camden Property Trust0.14%
Eaton Corp PLC0.14%
SLB Ltd0.14%

Weight gaps

The 100 widest of 464 Holdings in both funds.

Holding weights in GPIX and RSPA, widest gap first
Holding	More in GPIXMore in RSPA	GPIX	RSPA
NVIDIA CorporationNVDA	GPIX +7.68 points	7.82%	0.14%
Apple Inc.AAPL	GPIX +7.50 points	7.66%	0.16%
Microsoft CorporationMSFT	GPIX +5.76 points	5.92%	0.16%
Amazon.com IncAMZN	GPIX +3.43 points	3.57%	0.14%
Alphabet Inc.GOOGL	GPIX +2.75 points	2.82%	0.07%
Broadcom Inc.AVGO	GPIX +2.32 points	2.46%	0.14%
Tesla Inc.TSLA	GPIX +1.51 points	1.67%	0.16%
Eli Lilly & CoLLY	GPIX +1.48 points	1.66%	0.18%
Micron Technology, Inc.MU	GPIX +1.47 points	1.61%	0.14%
Berkshire Hathaway Inc.BRK.B	GPIX +1.37 points	1.53%	0.16%
JPMorgan Chase & CoJPM	GPIX +1.27 points	1.41%	0.14%
Advanced Micro Devices Inc.AMD	GPIX +1.23 points	1.39%	0.16%
Meta Platforms Inc-Class AMETA	GPIX +1.17 points	1.31%	0.14%
Exxonmobil Holdings CorporationXOM	GPIX +0.98 points	1.15%	0.17%
Visa Inc.V	GPIX +0.88 points	1.04%	0.17%
Johnson & JohnsonJNJ	GPIX +0.85 points	1.00%	0.15%
Alphabet Inc.GOOG	GPIX +0.79 points	0.85%	0.06%
Walmart IncWMT	GPIX +0.63 points	0.80%	0.17%
AbbVie Inc.ABBV	GPIX +0.61 points	0.78%	0.17%
Mastercard IncorporatedMA	GPIX +0.60 points	0.77%	0.17%
Intel CorporationINTC	GPIX +0.56 points	0.69%	0.13%
Chevron CorporationCVX	GPIX +0.55 points	0.71%	0.16%
Cisco Systems, Inc.CSCO	GPIX +0.50 points	0.65%	0.15%
Costco Wholesale CorporationCOST	GPIX +0.49 points	0.65%	0.16%
Palantir Technologies Inc.PLTR	GPIX +0.49 points	0.66%	0.17%
The Procter & Gamble CompanyPG	GPIX +0.45 points	0.62%	0.17%
UnitedHealth Group IncorporatedUNH	GPIX +0.41 points	0.57%	0.16%
Coca-Cola Company (The)KO	GPIX +0.39 points	0.55%	0.16%
Bank of America CorpBAC	GPIX +0.40 points	0.52%	0.12%
Merck & Co., Inc.MRK	GPIX +0.39 points	0.54%	0.15%
Applied Materials IncAMAT	GPIX +0.37 points	0.50%	0.13%
Lam Research CorporationLRCX	GPIX +0.35 points	0.47%	0.12%
Caterpillar Inc (Delaware)CAT	GPIX +0.34 points	0.46%	0.12%
General Electric CompanyGE	GPIX +0.33 points	0.47%	0.14%
Philip Morris Intl IncPM	GPIX +0.31 points	0.48%	0.17%
Palo Alto Networks Inc.PANW	GPIX +0.29 points	0.46%	0.17%
Morgan StanleyMS	GPIX +0.28 points	0.41%	0.13%
Rtx CorpRTX	GPIX +0.26 points	0.41%	0.15%
Wells Fargo & CompanyWFC	GPIX +0.25 points	0.39%	0.14%
Texas Instruments Inc.TXN	GPIX +0.24 points	0.42%	0.18%
Thermo Fisher Scientific IncTMO	GPIX +0.24 points	0.41%	0.17%
Oracle CorporationORCL	GPIX +0.22 points	0.35%	0.13%
Crowdstrike Holdings, Inc.CRWD	GPIX +0.21 points	0.40%	0.19%
Ge Vernova LlcGEV	GPIX +0.21 points	0.35%	0.14%
Amgen Inc.AMGN	GPIX +0.20 points	0.38%	0.18%
Citigroup Inc.C	GPIX +0.19 points	0.33%	0.14%
Gartner, Inc.IT	RSPA +0.20 points	<0.01%	0.20%
The Home Depot, Inc.HD	GPIX +0.19 points	0.35%	0.16%
Kla CorpKLAC	GPIX +0.19 points	0.33%	0.14%
Intl Business Machines CorpIBM	GPIX +0.18 points	0.34%	0.16%
Charles River Laboratories International, Inc.CRL	RSPA +0.18 points	0.02%	0.20%
Revvity IncRVTY	RSPA +0.18 points	0.02%	0.20%
Sandisk CorporationSNDK	GPIX +0.18 points	0.29%	0.11%
A.o. Smith Corp (Del)AOS	RSPA +0.16 points	<0.01%	0.16%
Roper Technologies IncROP	RSPA +0.16 points	<0.01%	0.17%
Hasbro, Inc.HAS	RSPA +0.16 points	0.04%	0.20%
Equifax Inc.EFX	RSPA +0.16 points	<0.01%	0.16%
Wec Energy Group, Inc.WEC	RSPA +0.16 points	<0.01%	0.16%
Trimble IncTRMB	RSPA +0.16 points	0.01%	0.17%
Brown Forman Corp Class BBF.B	RSPA +0.16 points	<0.01%	0.16%
Live Nation Entertainment IncLYV	RSPA +0.16 points	<0.01%	0.16%
Kimberly-Clark CorporationKMB	RSPA +0.16 points	0.01%	0.17%
Southwest Airlines CoLUV	RSPA +0.15 points	0.02%	0.17%
Skyworks Solutions, Inc.SWKS	RSPA +0.15 points	0.02%	0.17%
Huntington IngallsHII	RSPA +0.15 points	0.02%	0.17%
Amphenol Corp Cl-A (New)APH	GPIX +0.15 points	0.30%	0.15%
Host Hotels & Resorts IncHST	RSPA +0.15 points	0.02%	0.17%
Ppl CorporationPPL	RSPA +0.15 points	<0.01%	0.15%
Davita IncDVA	RSPA +0.15 points	<0.01%	0.16%
Fortive CorporationFTV	RSPA +0.15 points	0.03%	0.18%
Exelon CorporationEXC	RSPA +0.15 points	<0.01%	0.16%
Church & Dwight Co., Inc.CHD	RSPA +0.15 points	0.02%	0.17%
Qualcomm IncQCOM	GPIX +0.15 points	0.31%	0.16%
Broadridge FinancialBR	RSPA +0.15 points	<0.01%	0.16%
Factset Research Systems IncFDS	RSPA +0.15 points	0.02%	0.17%
Marvell Technology, Inc.MRVL	GPIX +0.15 points	0.29%	0.14%
Cdw CorporationCDW	RSPA +0.15 points	0.02%	0.17%
Apa CorporationAPA	RSPA +0.15 points	0.02%	0.17%
Insulet CorporationPODD	RSPA +0.14 points	0.02%	0.16%
W.r. Berkley CorporationWRB	RSPA +0.15 points	<0.01%	0.16%
Regency Centers CorporationREG	RSPA +0.15 points	<0.01%	0.15%
Analog Devices Inc.ADI	GPIX +0.14 points	0.32%	0.18%
Autodesk, Inc.ADSK	RSPA +0.14 points	0.03%	0.17%
Hormel Foods CorporationHRL	RSPA +0.15 points	<0.01%	0.15%
Generac Holdings Inc.GNRC	RSPA +0.14 points	0.02%	0.16%
Everpure IncP	RSPA +0.15 points	0.06%	0.21%
Masco CorporationMAS	RSPA +0.14 points	0.03%	0.17%
Otis Worldwide CorporationOTIS	RSPA +0.15 points	0.01%	0.16%
American Water Works Co, Inc.AWK	RSPA +0.14 points	<0.01%	0.15%
Ralph Lauren CorpRL	RSPA +0.15 points	0.03%	0.18%
Leidos Hldgs IncLDOS	RSPA +0.14 points	0.02%	0.16%
West Pharmaceutical ServicesWST	RSPA +0.14 points	0.04%	0.18%
Mettler-Toledo IntlMTD	RSPA +0.15 points	0.05%	0.20%
Arista Networks, Inc.ANET	GPIX +0.15 points	0.29%	0.14%
Illumina, IncILMN	RSPA +0.14 points	0.07%	0.21%
Viatris IncVTRS	RSPA +0.14 points	0.03%	0.17%
Vici Properties Inc.VICI	RSPA +0.14 points	<0.01%	0.14%
Tyler Technologies, Inc.TYL	RSPA +0.14 points	0.02%	0.16%
J. M. Smucker Company (The)SJM	RSPA +0.14 points	<0.01%	0.15%
Textron Inc.del.TXT	RSPA +0.14 points	0.02%	0.16%

All 490 GPIX holdings⁠All 524 RSPA 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 RSPA Cost

Same expense ratio

$5,952

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

GPIX 0.29%
$5,952
RSPA 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
RSPA 0.29%

Year by year

Year	GPIX	RSPA
10	$527	$527
20	$2,044	$2,044
30	$5,952	$5,952

Expense ratio

0.29%GPIX
0.29%RSPA

GPIX0.29%RSPA0.29%

0.10%1.18%

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

GPIX 5th cheapest of 51 funds

RSPA 5th cheapest of 51 funds

GPIX vs RSPA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GPIX 8.32%; RSPA 9.16%, better
Payout (12M): GPIX $4.59; RSPA $4.87
Last payment: GPIX $0.40; RSPA $0.41
Ex-dividend: GPIX Oct 1, 2026; RSPA Oct 19, 2026
Paid on: GPIX Oct 7, 2026; RSPA Oct 23, 2026
Frequency: GPIX Monthly; RSPA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 35 paymentsAll GPIX payments⁠

RSPAMonthly · 27 paymentsAll RSPA payments⁠

GPIX vs RSPA 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%RSPA 9.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49RSPA 0.83since Aug 2024
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023RSPA −15.4%since Jul 2024
Market sensitivityBeta, 5 years: GPIX 0.84RSPA 0.58; Market = 1

GPIX and RSPA 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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