GPIX vs XRMI: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

Global X S&P 500 Risk Managed Income ETF

XRMIBNYSE Arca

Overlap

90.0%by weight

Expense ratio

GPIX −0.31pt a year

GPIX0.29%XRMI0.60%

Avg volume · 30D

GPIX 52.3×the volume

GPIX1.14MXRMI21.8K

3Y return · a year

GPIX +10.7pt

GPIX+19.8%XRMI+9.1%

GPIX vs XRMI Performance

Oct 31, 2025 – Nov 2, 2026

+12.6%GPIX+7.8%XRMI

Expense ratio: GPIX 0.29%, better; XRMI 0.60%
Fund size: GPIX $6.4B; XRMI $63M
1Y total return: GPIX +12.6%, better; XRMI +7.8%
Yield (12M): GPIX 9.13%; XRMI 12.46%, better
Holdings: GPIX 483; XRMI 506
Avg volume (30D): GPIX 1.14M sh, better; XRMI 21.8K sh
NAV per share: GPIX $55.10; XRMI $16.98
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, XRMI, with each pillar’s weight
Pillar	GPIX	XRMI
Cost30% weight	A87Higher	C50
Mission25% weight	A100Higher	A94
Risk15% weight	C40	B62Higher
Tradability15% weight	B65Higher	D32
Holdings10% weight	B68Higher	B65
Durability5% weight	A77Higher	C54

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and XRMI 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 XRMI 23rd 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 2AIVVWiShares S&P 500 BuyWrite ETFScore 81
Rank 4AGPIXGoldman Sachs S&P 500 Premium Income ETFScore 77
Rank 5ARSPAInvesco S&P 500 Equal Weight Income Advantage ETFScore 76
Rank 23BHEMIHartford Equity Premium Income ETFScore 61
Rank 23BXRMIGlobal X S&P 500 Risk Managed Income ETFScore 61
Rank 26BHEQTSimplify Hedged Equity ETFScore 60

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

XRMIBGlobal X S&P 500 Risk Managed 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.

XRMI A covered-call fund with a seatbelt. XRMI owns the S&P 500, sells at-the-money calls for income, and spends part of that premium on puts 5% below the market, so the hedge is built in rather than bolted on. 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.

XRMI XRMI seeks returns broadly corresponding to the price and yield performance of the Cboe S&P 500 Risk Managed Income Index. It owns S&P 500 stocks and uses a net-credit collar to generate income while mitigating significant market declines.

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.

XRMI Net-credit collar: it sells at-the-money S&P 500 calls and buys 5% out-of-the-money puts, sized so the call premium collected exceeds the cost of the puts.globalxetfs.com globalxetfs.com 2
Calls are struck at the money, the fattest part of the premium curve, not safely out of the money. Distributions go out monthly.globalxetfs.com
Holds the roughly 500 S&P 500 stocks outright and layers the options on top. No swap counterparty, no fund-of-funds wrapper.
Running since 2021 and tied to a published Cboe index, so strikes and rolls follow a rulebook rather than a manager's read of the tape.

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.

XRMI At-the-money calls trade away the upside above the strike each period, so equity gains in a strong rally are structurally limited.globalxetfs.com
The put starts 5% below the market, so the first slice of a decline lands on the fund before the hedge engages.globalxetfs.com
At 0.60% it sits at the median of a crowded S&P 500 options-income field where IVVW (0.25%) and GPIX (0.35%) run cheaper, and it trades thinly, so spreads matter.

Full GPIX profile⁠

Full XRMI profile⁠

GPIX vs XRMI Holdings

How GPIX and XRMI differ

Overlap by weight

90.0%

Shared holdings make up 96.3% of XRMI and 93.4% of GPIX.

Level by level

Holdings454 in both90.0%
Sector11 Sectors94.8%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in GPIX and XRMI, widest gap first
Sector	More in GPIXMore in XRMI	GPIX	XRMI
Communication	XRMI +3.8 points	5.9%	9.7%
Financials	GPIX +3.8 points	15.2%	11.4%
Technology	XRMI +1.5 points	38.8%	40.3%
Health Care	GPIX +0.6 points	9.7%	9.1%
Consumer Discretionary	GPIX +0.3 points	9.1%	8.8%
Consumer Staples	GPIX +0.2 points	4.6%	4.4%
Energy	GPIX +0.1 points	3.8%	3.7%
Utilities	GPIX +0.1 points	2.0%	1.9%
Materials	GPIX +0.1 points	1.8%	1.7%
Real Estate	Same weight	1.7%	1.7%
Industrials	Same weight	7.3%	7.3%

Country, concentration and asset class

Country by domicile

Country weights in GPIX and XRMI, widest gap first
Country	More in GPIXMore in XRMI	GPIX	XRMI
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

GPIX38.3%
XRMI37.3%

Securities held

GPIX482
XRMI505

Asset class

GPIX: Equity
XRMI: Equity

Holdings

Only in GPIX28
In both454
Only in XRMI51

Only in GPIX

28 securities, 6.0% of GPIX by weight

State Street Communication Services Select Sector3.50%
Linde PLC0.35%
Eaton Corp PLC0.24%
Accenture PLC0.23%
Chubb Limited0.23%
Medtronic Public Limited Company0.21%
Elevance Health Inc0.14%
Slb Ltd0.14%
Johnson Controls International Public Limited Comp0.13%
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%
Lyondellbasell Industries N.v.0.02%
Norwegian Cruise Line Hldg Ltd0.02%
Pentair Plc.0.02%
Ball Corporation0.02%
Allegion Public Limited Company0.02%

Only in XRMI

51 securities, 4.1% of XRMI by weight

Spx Us 11/20/26 P73550.67%
Goldman Sachs Group Inc0.40%
Linde PLC0.35%
Accenture Plc-Cl A0.24%
Eaton Corp PLC0.22%
Chubb Ltd0.20%
Medtronic PLC0.19%
Elevance Health Inc0.15%
Johnson Controls Internation0.14%
Comcast Corp-Class A0.13%
Slb Ltd0.12%
Royal Caribbean Cruises Ltd0.12%
Nxp Semiconductors NV0.11%
Crh PLC0.10%
Applovin Corp-Class A0.10%
Becton Dickinson and Co0.09%
Vivmark Residential0.07%
Block Inc0.06%
Carnival Corp Ltd0.05%
Fiserv Inc0.04%
Willis Towers Watson PLC0.04%
Omnicom Group0.04%
Lyondellbasell Indu-Cl A0.03%
Smurfit Westrock PLC0.03%
Ball Corp0.03%
Fidelity National Info Services0.03%
Weyerhaeuser Co0.03%
General Mills Inc0.02%
Everest Group Ltd0.02%
Allegion PLC0.02%
Aptiv PLC0.02%
Xsp Us 11/20/26 P7350.02%
Invesco Ltd0.02%
Reddit Inc-Cl A0.02%
Udr Inc0.02%
News Corp - Class A0.02%
Echostar Corp-A0.02%
Other Payable & Receivables0.02%
Tko Group Holdings Inc0.02%
Jack Henry & Associates Inc0.01%
Lululemon Athletica Inc0.01%
Charter Communications Inc-A0.01%
Norwegian Cruise Line Holdin0.01%
Clorox Company0.01%
Camden Property Trust0.01%
Pentair PLC0.01%
Mosaic Co/The0.01%
Wynn Resorts Ltd<0.01%
Erie Indemnity Company-Cl A<0.01%
Skydance Corp<0.01%

Weight gaps

The 100 widest of 454 Holdings in both funds.

Holding weights in GPIX and XRMI, widest gap first
Holding	More in GPIXMore in XRMI	GPIX	XRMI
Alphabet Inc.GOOG	XRMI +1.17 points	0.85%	2.02%
Meta Platforms Inc-Class AMETA	XRMI +0.77 points	1.31%	2.08%
Netflix, Inc.NFLX	XRMI +0.26 points	0.14%	0.40%
Walt Disney Company (The)DIS	XRMI +0.23 points	0.06%	0.29%
Verizon Communications Inc.VZ	XRMI +0.20 points	0.09%	0.29%
Alphabet Inc.GOOGL	GPIX +0.17 points	2.68%	2.51%
AT&T Inc.T	XRMI +0.17 points	0.06%	0.23%
The Home Depot, Inc.HD	XRMI +0.14 points	0.36%	0.50%
Lowes Companies IncLOW	XRMI +0.11 points	0.06%	0.17%
T-Mobile Us, Inc.TMUS	XRMI +0.11 points	<0.01%	0.11%
Kimberly-Clark CorporationKMB	XRMI +0.10 points	0.01%	0.11%
Duke Energy CorporationDUK	GPIX +0.08 points	0.24%	0.16%
Caterpillar Inc (Delaware)CAT	XRMI +0.08 points	0.36%	0.44%
Pepsico, Inc.PEP	XRMI +0.08 points	0.22%	0.30%
The Southern Co.SO	GPIX +0.08 points	0.25%	0.17%
Bank of America CorpBAC	XRMI +0.07 points	0.43%	0.50%
Ptc Inc.PTC	GPIX +0.08 points	0.11%	0.03%
American Electric Power IncAEP	GPIX +0.08 points	0.18%	0.10%
Morgan StanleyMS	GPIX +0.07 points	0.41%	0.34%
Exelon CorporationEXC	XRMI +0.07 points	<0.01%	0.07%
General Motors CompanyGM	GPIX +0.06 points	0.18%	0.12%
Nextera Energy, Inc.NEE	XRMI +0.06 points	0.21%	0.27%
Williams-Sonoma, Inc.WSM	GPIX +0.06 points	0.10%	0.04%
Wec Energy Group, Inc.WEC	XRMI +0.05 points	<0.01%	0.06%
Veeva Systems IncVEEV	GPIX +0.06 points	0.12%	0.06%
The Procter & Gamble CompanyPG	GPIX +0.06 points	0.64%	0.58%
Autodesk, Inc.ADSK	XRMI +0.05 points	0.03%	0.08%
Applied Materials IncAMAT	XRMI +0.05 points	0.42%	0.47%
Raymond James Financial, Inc.RJF	GPIX +0.05 points	0.09%	0.04%
Vulcan Materials CoVMC	GPIX +0.05 points	0.10%	0.04%
Ameriprise Financial, Inc.AMP	GPIX +0.05 points	0.11%	0.06%
American Water Works Co, Inc.AWK	XRMI +0.05 points	<0.01%	0.06%
Intuit IncINTU	XRMI +0.05 points	0.09%	0.14%
Servicenow IncNOW	GPIX +0.05 points	0.22%	0.17%
Intercontinental Exchange IncICE	GPIX +0.05 points	0.19%	0.14%
Martin Marietta Materials,incMLM	GPIX +0.05 points	0.09%	0.04%
Autozone, Inc.AZO	GPIX +0.04 points	0.11%	0.07%
Roper Technologies IncROP	XRMI +0.05 points	0.01%	0.06%
Lam Research CorporationLRCX	XRMI +0.05 points	0.42%	0.47%
Transdigm Group IncorporatedTDG	GPIX +0.05 points	0.14%	0.09%
Stryker CorporationSYK	XRMI +0.04 points	0.12%	0.16%
Vici Properties Inc.VICI	XRMI +0.05 points	<0.01%	0.05%
Tjx Companies Inc (New)TJX	GPIX +0.04 points	0.28%	0.24%
Public-Svc Enterprise GroupPEG	GPIX +0.04 points	0.10%	0.06%
Ppl CorporationPPL	XRMI +0.05 points	<0.01%	0.05%
Monster Beverage CorporationMNST	GPIX +0.05 points	0.15%	0.10%
Nasdaq Inc.NDAQ	GPIX +0.04 points	0.11%	0.07%
Tesla Inc.TSLA	XRMI +0.04 points	1.68%	1.72%
Ebay Inc.EBAY	GPIX +0.04 points	0.12%	0.08%
Emerson Electric Co.EMR	GPIX +0.04 points	0.17%	0.13%
Illinois Tool WorksITW	GPIX +0.04 points	0.15%	0.11%
BlackRock Funding, Inc.BLK	GPIX +0.04 points	0.29%	0.25%
Take Two Interactive SoftwareTTWO	XRMI +0.03 points	<0.01%	0.04%
Simon Property Group IncSPG	GPIX +0.04 points	0.15%	0.11%
Amazon.com IncAMZN	XRMI +0.03 points	3.58%	3.61%
JPMorgan Chase & CoJPM	GPIX +0.04 points	1.41%	1.37%
Live Nation Entertainment IncLYV	XRMI +0.04 points	<0.01%	0.04%
Airbnb Inc.ABNB	GPIX +0.03 points	0.14%	0.11%
Booking Holdings Inc.BKNG	XRMI +0.03 points	0.14%	0.17%
Xylem Inc.XYL	XRMI +0.03 points	<0.01%	0.04%
NVIDIA CorporationNVDA	GPIX +0.03 points	7.61%	7.58%
O'reilly Automotive, Inc.ORLY	GPIX +0.03 points	0.14%	0.11%
Ulta Beauty IncULTA	GPIX +0.04 points	0.07%	0.03%
Keurig Dr Pepper IncKDP	GPIX +0.03 points	0.11%	0.08%
Carrier Global CorporationCARR	GPIX +0.03 points	0.10%	0.07%
Godaddy Inc.GDDY	GPIX +0.03 points	0.05%	0.02%
Ameren CorporationAEE	XRMI +0.03 points	0.02%	0.05%
Salesforce IncCRM	XRMI +0.03 points	0.26%	0.29%
Aon Public Limited CompanyAON	XRMI +0.03 points	0.08%	0.11%
Estee Lauder Cos Inc Cl-AEL	GPIX +0.02 points	0.07%	0.05%
P G & E CorporationPCG	XRMI +0.02 points	0.02%	0.04%
T. Rowe Price Group, Inc.TROW	XRMI +0.03 points	0.01%	0.04%
Msci Inc.MSCI	GPIX +0.03 points	0.08%	0.05%
Rockwell Automation IncROK	GPIX +0.03 points	0.09%	0.06%
Otis Worldwide CorporationOTIS	XRMI +0.02 points	0.01%	0.04%
Nike Class-BNKE	GPIX +0.03 points	0.10%	0.07%
Church & Dwight Co., Inc.CHD	XRMI +0.02 points	0.02%	0.04%
Gen Digital IncGEN	XRMI +0.03 points	0.00%	0.03%
Altria Group, Inc.MO	XRMI +0.02 points	0.18%	0.20%
Copart, Inc.CPRT	XRMI +0.03 points	0.01%	0.04%
Palantir Technologies Inc.PLTR	XRMI +0.02 points	0.63%	0.65%
W.r. Berkley CorporationWRB	XRMI +0.02 points	<0.01%	0.03%
Tractor Supply CompanyTSCO	GPIX +0.03 points	0.05%	0.02%
Arthur J Gallagher & CoAJG	XRMI +0.03 points	0.09%	0.12%
Cadence Design Systems IncCDNS	XRMI +0.03 points	0.11%	0.14%
Ross Stores IncROST	GPIX +0.03 points	0.15%	0.12%
Genuine Parts Co.GPC	GPIX +0.03 points	0.05%	0.02%
Arch Capital Group Ltd.ACGL	XRMI +0.03 points	0.03%	0.06%
Intl Business Machines CorpIBM	XRMI +0.02 points	0.35%	0.37%
Synopsys Inc.SNPS	XRMI +0.02 points	0.12%	0.14%
Equifax Inc.EFX	XRMI +0.03 points	<0.01%	0.03%
Fortinet, Inc.FTNT	GPIX +0.02 points	0.15%	0.13%
Public StoragePSA	GPIX +0.02 points	0.10%	0.08%
Paychex, Inc.PAYX	GPIX +0.02 points	0.08%	0.06%
Truist Financial CorporationTFC	XRMI +0.02 points	0.07%	0.09%
General Electric CompanyGE	XRMI +0.02 points	0.46%	0.48%
M&T Bank CorporationMTB	XRMI +0.02 points	0.02%	0.04%
Quanta Services IncPWR	GPIX +0.02 points	0.15%	0.13%
Hasbro, Inc.HAS	GPIX +0.02 points	0.04%	0.02%
Kroger CompanyKR	GPIX +0.02 points	0.08%	0.06%

All 486 GPIX holdings⁠All 506 XRMI 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 XRMI Cost

Overpaying XRMI vs GPIX

$5,865

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

GPIX 0.29%
$5,952
XRMI 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
XRMI 0.60%
Overpaying

Year by year

Year	GPIX	XRMI	Overpaying
10	$527	$1,076	$549
20	$2,044	$4,116	$2,072
30	$5,952	$11,817	$5,865

Expense ratio

0.29%GPIX, cheaper
0.60%XRMI

GPIX0.29%XRMI0.60%

0.10%1.18%

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

GPIX 5th cheapest of 51 funds

XRMI 25th cheapest of 51 funds

GPIX vs XRMI Dividends

Last 12 months to Nov 2, 2026

Yield (12M): GPIX 9.13%; XRMI 12.46%, better
Payout (12M): GPIX $4.97; XRMI $2.12
Last payment: GPIX $0.39; XRMI $0.15
Ex-dividend: GPIX Nov 2, 2026; XRMI Oct 19, 2026
Paid on: GPIX Pays Nov 6, 2026; XRMI Oct 22, 2026
Frequency: GPIX Monthly; XRMI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 36 paymentsAll GPIX payments⁠

XRMIMonthly · 46 paymentsAll XRMI payments⁠

GPIX vs XRMI 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%XRMI 5.2%, better
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49, betterXRMI 0.93
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023XRMI −15.3%
Market sensitivityBeta, 5 years: GPIX 0.84XRMI 0.35; Market = 1

GPIX and XRMI 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 XRMI

In short

Stated mandate

Why people hold it

Worth knowing

How GPIX and XRMI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in XRMI

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 XRMI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in XRMI

Weight gaps