GPIX vs SIXH: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

ETC 6 Meridian Hedged Equity Index Option ETF

SIXHCNYSE Arca

Overlap

22.7%by weight

Expense ratio

GPIX −0.40pt a year

GPIX0.29%SIXH0.69%

Avg volume · 30D

GPIX 75.4×the volume

GPIX1.17MSIXH15.5K

3Y return · a year

GPIX +6.2pt

GPIX+19.8%SIXH+13.6%

GPIX vs SIXH Performance

Nov 7, 2025 – Nov 9, 2026

+14.2%GPIX+20.9%SIXH

Expense ratio: GPIX 0.29%, better; SIXH 0.69%
Fund size: GPIX $6.33B; SIXH $621M
1Y total return: GPIX +14.2%; SIXH +20.9%, better
Yield (12M): GPIX 8.43%, better; SIXH 1.76%
Holdings: GPIX 494; SIXH 49
Avg volume (30D): GPIX 1.17M sh, better; SIXH 15.5K sh
NAV per share: GPIX $53.34; SIXH $44.30
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, SIXH, with each pillar’s weight
Pillar	GPIX	SIXH
Cost30% weight	A89Higher	C42
Mission25% weight	A100	Not scored
Risk15% weight	C47	A78Higher
Tradability15% weight	B59Higher	D34
Holdings10% weight	A74Higher	B63
Durability5% weight	A78Higher	B67

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and SIXH 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 SIXH 32nd 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 31CHEDGEquable Shares Hedged Equity ETFScore 54
Rank 32CSIXHETC 6 Meridian Hedged Equity Index Option ETFScore 51
Rank 33CXSPINEOS Boosted S&P 500 High Income ETFScore 49

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

SIXHCETC 6 Meridian Hedged Equity Index Option 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.

SIXH Most hedged-equity funds bolt options onto an index. SIXH runs a concentrated book of about 50 growth-and-quality stocks, then writes calls on broad equity indexes over the top. Active on both sides, and it pays monthly.

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.

SIXH The Fund seeks capital appreciation. Its active strategy combines an equity portfolio with call-option writing on broad equity-market indices or funds, intended to reduce broad equity-market exposure.

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.

SIXH Two decisions, not one: roughly 50 stocks screened for growth, profitability and quality, with index call writing layered on to trim broad equity-market exposure.
Fee of 0.73% lands under the same-index rivals ACYS (0.75%), OVL (0.79%) and MRSK (0.98%), so the active overlay does not carry a premium price inside its own niche.
Distributions arrive monthly, funded by option premium and the equity book rather than a fixed payout formula.
Live since 2020 and one of the stronger implementations in a crowded options-income peer group, with a real asset base behind it.

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.

SIXH Written calls hand back part of a strong rally. Premium comes in, upside gets clipped. That is the mechanism, not a malfunction.
Thinly traded next to the category's heavyweights, which tends to mean wider spreads and more attention needed on order type.
Fully active, with no index holding it to a benchmark: outcomes track the manager's stock selection and option decisions. NBOS runs a cheaper S&P 500 overlay at 0.59%.

Full GPIX profile⁠

Full SIXH profile⁠

GPIX vs SIXH Holdings

How GPIX and SIXH differ

Overlap by weight

22.7%

Shared holdings make up 93.2% of SIXH and 36.5% of GPIX.

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

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

Level by level

Holdings45 in both22.7%
Sector11 Sectors66.9%
Asset classStocks100%
Countryby domicile99.5%

Sector

Sector weights in GPIX and SIXH, widest gap first
Sector	Gap	GPIX	SIXH
Technology	GPIX +20.8 points	36.5%	15.7%
Consumer Staples	SIXH +20.6 points	5.1%	25.7%
Health Care	SIXH +7.5 points	10.6%	18.1%
Consumer Discretionary	GPIX +6.0 points	10.0%	4.0%
Financials	GPIX +4.5 points	12.7%	8.2%
Communication	SIXH +1.8 points	8.1%	9.9%
Materials	GPIX +1.7 points	1.7%	0.0%
Energy	SIXH +1.1 points	3.5%	4.6%
Real Estate	SIXH +1.1 points	1.9%	3.0%
Utilities	SIXH +0.7 points	2.2%	2.9%
Industrials	SIXH +0.5 points	7.5%	8.0%

Country, concentration and asset class

Country by domicile

Country weights in GPIX and SIXH, widest gap first
Country	Gap	GPIX	SIXH
United States	SIXH +0.5 points	99.5%	100.0%
Switzerland	GPIX +0.3 points	0.3%	0.0%
China	GPIX +0.1 points	0.1%	0.0%
United Kingdom	GPIX +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

GPIX38.0%
SIXH37.5%

Securities held

GPIX493
SIXH48

Asset class

GPIX: Stocks
SIXH: Stocks

Holdings

Only in GPIX448
In both45
Only in SIXH3

Only in GPIX

448 securities, 63.5% of GPIX by weight

Microsoft Corporation6.24%
Amazon.com Inc4.04%
Alphabet Inc.3.53%
Broadcom Inc.2.00%
Berkshire Hathaway Inc.1.70%
Tesla Inc.1.60%
JPMorgan Chase & Co1.38%
Visa Inc.1.14%
Alphabet Inc.0.87%
Mastercard Incorporated0.83%
UnitedHealth Group Incorporated0.58%
General Electric Company0.54%
Walt Disney Company (The)0.51%
The Home Depot, Inc.0.49%
Wells Fargo & Company0.43%
Thermo Fisher Scientific Inc0.42%
Palo Alto Networks Inc.0.41%
Rtx Corp0.40%
Intl Business Machines Corp0.38%
Crowdstrike Holdings, Inc.0.36%
Linde PLC0.36%
Analog Devices Inc.0.36%
BlackRock Funding, Inc.0.36%
Arista Networks, Inc.0.34%
Kla Corp0.34%
Morgan Stanley0.34%
Amphenol Corp Cl-A (New)0.32%
Abbott Laboratories0.31%
Intel Corporation0.30%
American Express Co.0.30%
Salesforce Inc0.29%
Welltower, Inc.0.29%
Bank of America Corp0.29%
Tjx Companies Inc (New)0.27%
Intuitive Surgical, Inc.0.27%
Union Pacific Corp.0.27%
Deere & Company0.26%
Nextera Energy, Inc.0.25%
S&P Global Inc.0.25%
Accenture PLC0.25%
The Southern Co.0.25%
Chubb Limited0.24%
Newmont Corp0.24%
Duke Energy Corporation0.24%
Boeing Company0.22%
Medtronic Public Limited Company0.22%
Vertex Pharmaceuticals Incorporated0.21%
Danaher Corporation0.21%
The Progressive Corporation0.21%
Eaton Corp PLC0.21%

Only in SIXH

3 securities, 6.5% of SIXH by weight

State Street Spdr Portfol3.12%
Ss Spdr S&P 500 Etf Trust-Us2.02%
Medtronic PLC1.39%

Weight gaps

All 45 Holdings in both funds, largest gap first.

Holding weights in GPIX and SIXH, widest gap first
Holding	Gap	GPIX	SIXH
Apple Inc.AAPL	GPIX +6.52 points	7.83%	1.31%
NVIDIA CorporationNVDA	GPIX +5.95 points	7.15%	1.20%
Altria Group, Inc.MO	SIXH +4.95 points	0.18%	5.13%
Pepsico, Inc.PEP	SIXH +3.79 points	0.27%	4.06%
Bristol-Myers Squibb CompanyBMY	SIXH +3.76 points	0.17%	3.93%
AT&T Inc.T	SIXH +3.73 points	0.26%	3.99%
Verizon Communications Inc.VZ	SIXH +3.70 points	0.33%	4.03%
Philip Morris Intl IncPM	SIXH +3.25 points	0.49%	3.74%
Chevron CorporationCVX	SIXH +2.88 points	0.68%	3.56%
T-Mobile Us, Inc.TMUS	SIXH +2.71 points	0.02%	2.73%
Sandisk CorporationSNDK	SIXH +2.66 points	0.20%	2.86%
Comcast CorporationCMCSA	SIXH +2.58 points	0.18%	2.76%
Mondelez International, Inc.MDLZ	SIXH +2.55 points	0.13%	2.68%
U.s. BancorpUSB	SIXH +2.46 points	0.17%	2.63%
ConocophillipsCOP	SIXH +2.08 points	0.25%	2.33%
Costco Wholesale CorporationCOST	SIXH +2.01 points	0.73%	2.74%
Lam Research CorporationLRCX	SIXH +1.95 points	0.26%	2.21%
Micron Technology, Inc.MU	SIXH +1.84 points	1.24%	3.08%
Walmart IncWMT	SIXH +1.80 points	0.87%	2.67%
Johnson & JohnsonJNJ	SIXH +1.61 points	1.05%	2.66%
Exxonmobil Holdings CorporationXOM	SIXH +1.25 points	1.08%	2.33%
Charles Schwab CorporationSCHW	SIXH +1.24 points	0.13%	1.37%
Booking Holdings Inc.BKNG	SIXH +1.23 points	0.20%	1.43%
Mc Donalds CorpMCD	SIXH +1.18 points	0.23%	1.41%
American Tower CorpAMT	SIXH +1.17 points	0.15%	1.32%
General Motors CompanyGM	SIXH +1.13 points	0.17%	1.30%
Capital One Financial CorpCOF	SIXH +1.05 points	0.25%	1.30%
Qualcomm IncQCOM	SIXH +1.01 points	0.31%	1.32%
Pfizer Inc.PFE	SIXH +1.00 points	0.27%	1.27%
Gilead SciencesGILD	SIXH +0.96 points	0.33%	1.29%
Caterpillar Inc (Delaware)CAT	SIXH +0.92 points	0.26%	1.18%
Meta Platforms Inc-Class AMETA	GPIX +0.90 points	2.21%	1.31%
Amgen Inc.AMGN	SIXH +0.90 points	0.40%	1.30%
Citigroup Inc.C	SIXH +0.90 points	0.38%	1.28%
Ge Vernova LlcGEV	SIXH +0.84 points	0.35%	1.19%
Applied Materials IncAMAT	SIXH +0.83 points	0.29%	1.12%
Texas Instruments Inc.TXN	SIXH +0.75 points	0.46%	1.21%
Coca-Cola Company (The)KO	SIXH +0.74 points	0.60%	1.34%
Cisco Systems, Inc.CSCO	SIXH +0.72 points	0.46%	1.18%
Merck & Co., Inc.MRK	SIXH +0.72 points	0.57%	1.29%
The Procter & Gamble CompanyPG	SIXH +0.70 points	0.65%	1.35%
Palantir Technologies Inc.PLTR	SIXH +0.54 points	0.61%	1.15%
AbbVie Inc.ABBV	SIXH +0.49 points	0.81%	1.30%
Eli Lilly & CoLLY	GPIX +0.46 points	1.72%	1.26%
Advanced Micro Devices Inc.AMD	GPIX +0.03 points	1.20%	1.17%

All 497 GPIX holdings⁠All 49 SIXH 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 SIXH Cost

Overpaying SIXH vs GPIX

$7,477

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

GPIX 0.29%
$5,952
SIXH 0.69%
$13,429

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
SIXH 0.69%
Overpaying

Year by year

Year	GPIX	SIXH	Overpaying
10	$527	$1,232	$705
20	$2,044	$4,697	$2,653
30	$5,952	$13,429	$7,477

Expense ratio

0.29%GPIX, cheaper
0.69%SIXH

GPIX0.29%SIXH0.69%

0.10%1.18%

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

GPIX 5th cheapest of 51 funds

SIXH 30th cheapest of 51 funds

GPIX vs SIXH Dividends

Last 12 months to Nov 9, 2026

Yield (12M): GPIX 8.43%, better; SIXH 1.76%
Payout (12M): GPIX $4.60; SIXH $0.79
Last payment: GPIX $0.39; SIXH $0.12
Ex-dividend: GPIX Nov 2, 2026; SIXH Oct 28, 2026
Paid on: GPIX Nov 6, 2026; SIXH Oct 30, 2026
Frequency: GPIX Monthly; SIXH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 36 paymentsAll GPIX payments⁠

SIXHMonthly · 46 paymentsAll SIXH payments⁠

GPIX vs SIXH 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%SIXH 7.2%, better
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49, betterSIXH 1.36
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023SIXH −11.7%
Market sensitivityBeta, 5 years: GPIX 0.84SIXH 0.09; Market = 1

GPIX and SIXH 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 SIXH

In short

Stated mandate

Why people hold it

Worth knowing

How GPIX and SIXH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in SIXH

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 SIXH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in SIXH

Weight gaps