GPIX vs XDTE

GPIXAGoldman Sachs S&P 500 Premium Income ETF

XDTECRoundhill S&P 500 0DTE Covered Call Strategy 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.

XDTE The original 0DTE covered call fund. It sells same-day S&P 500 calls each morning and lets them expire at the close, capping the trading session while leaving the overnight stretch uncapped. Pays weekly.

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.

XDTE The Fund's primary objective is current income and its secondary objective is capital appreciation. It uses a synthetic covered-call strategy to provide weekly income while maintaining exposure to the S&P 500 Index's price return.

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.

• XDTE The first ETF built on zero-days-to-expiry options on the S&P 500, live since March 2024. Roundhill has since cloned the design onto Nasdaq and Russell 2000 versions.roundhillinvestments.comnasdaq.com
• The short calls are written at the open and expire that afternoon, so the fund carries the index overnight without a call sitting on top of it.roundhillinvestments.com
• Long exposure comes from a deep in-the-money FLEX call on the S&P 500 rather than a basket of stocks, a clean way to track the index's price return.roundhillinvestments.com
• Income lands weekly, not monthly or quarterly, and the payout cadence is baked into how the strategy is run rather than bolted on.roundhillinvestments.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.

• XDTE At 0.97% a year it runs well above the 0.60% median for S&P 500 options-income funds, and plain buy-write rivals like IVVW (0.25%) and GPIX (0.35%) charge far less.
• Roundhill discloses that distributions may exceed the fund's income and gains, with the excess treated as return of capital. Check the tax detail on the fund page.roundhillinvestments.comroundhillinvestments.com 2
• A covered call trades upside for premium: gains above the strike during the session belong to the option buyer, so big intraday rallies get clipped.roundhillinvestments.com

Full GPIX profile⁠

Full XDTE profile⁠