GPIX vs XSPI: Grades, Fees and Holdings Compared

Goldman Sachs S&P 500 Premium Income ETF

GPIXANasdaq

NEOS Boosted S&P 500 High Income ETF

XSPICNasdaq

Overlap

86.6%by weight

Expense ratio

GPIX −0.69pt a year

GPIX0.29%XSPI0.98%

Avg volume · 30D

GPIX 14.2×the volume

GPIX1.14MXSPI80.5K

GPIX vs XSPI Performance

Jul 31, 2026 – Oct 30, 2026

+1.7%GPIX+2.2%XSPI

Expense ratio: GPIX 0.29%, better; XSPI 0.98%
Fund size: GPIX $6.46B; XSPI $136M
1Y total return: GPIX +13.2%; XSPI No data
Yield (12M): GPIX 8.32%; XSPI No data
Holdings: GPIX 486; XSPI 504
Avg volume (30D): GPIX 1.14M sh, better; XSPI 80.5K sh
NAV per share: GPIX $56.03; XSPI $48.31
52W range

ETF.net Grade

Pillar letters and Scores for GPIX, XSPI, with each pillar’s weight
Pillar	GPIX	XSPI
Cost30% weight	A87Higher	F8
Mission25% weight	A100	A100
Risk15% weight	C40Higher	F23
Tradability15% weight	B68	A70Higher
Holdings10% weight	B68Higher	B60
Durability5% weight	A77Higher	C48

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. GPIX and XSPI 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 XSPI 34th 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 32CSPUTInnovator Equity Premium Income – Daily PutWrite ETFScore 52
Rank 34CXSPINEOS Boosted S&P 500 High Income ETFScore 49
Rank 35CSPYTDefiance S&P 500 Target Income ETFScore 47

Our read on each fund

ETF.net Research

GPIXAGoldman Sachs S&P 500 Premium Income ETF

XSPICNEOS Boosted 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.

XSPI The leveraged cousin in the NEOS income lineup: S&P 500 stocks plus a laddered call overlay, boosted with synthetic long exposure to roughly 150% notional, in pursuit of a 15% annualized distribution paid 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.

XSPI The Fund seeks high monthly income in a tax-efficient manner, with potential for enhanced equity appreciation in rising markets.

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.

XSPI The boost is mechanical: buy index calls and sell index puts at similar strikes to reach about 150% notional exposure, then write additional SPX calls on top. More premium collected, more equity exposure working.neosfunds.com sec.gov
Calls are laddered out of the money and not written across the whole portfolio, so part of a rally stays open rather than being capped away.neosfunds.com
Built on the same S&P 500 options framework as NEOS's flagship SPYI, using index options and distributions the issuer has classified as return of capital, which defers tax and trims cost basis instead of hitting as ordinary income.neosfunds.com
Income is designed to arrive monthly rather than quarterly, from an actively managed overlay on the 500 largest US listed companies.

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.

XSPI Fees run high: 0.98% versus a roughly 0.6% median for S&P 500 options-income funds, and above the unleveraged sibling SPYI at 0.68%. The boost and the overlay cost real money.
Leverage cuts both ways. Roughly 150% notional exposure magnifies drawdowns as well as gains, and the call overlay can mute part of the bounce back.neosfunds.com sec.gov
Launched in February 2026, so the track record is thin, and a payout funded partly by return of capital reduces both net asset value and your cost basis over time.neosfunds.com

Full GPIX profile⁠

Full XSPI profile⁠

GPIX vs XSPI Holdings

How GPIX and XSPI differ

Overlap by weight

86.6%

Shared holdings make up 93.3% of XSPI and 92.7% of GPIX.

Level by level

Holdings455 in both86.6%
Asset classEquity100%
Countryby domicile100%

Sector

No Sector split for XSPI.

Country, concentration and asset class

Country by domicile

Country weights in GPIX and XSPI, widest gap first
Country	More in GPIXMore in XSPI	GPIX	XSPI
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%
XSPI40.6%

Securities held

GPIX485
XSPI504

Asset class

GPIX: Equity
XSPI: Equity

Holdings

Only in GPIX30
In both455
Only in XSPI49

Only in GPIX

30 securities, 7.5% of GPIX by weight

State Street Communication Services Select Sector3.48%
Berkshire Hathaway Inc.1.53%
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%
Brown Forman Corp Class B<0.01%

Only in XSPI

49 securities, 9.5% of XSPI by weight

Cash & Other3.67%
Berkshire Hathaway Inc1.58%
Spx Us 01/15/27 C76951.16%
Goldman Sachs Group Inc/The0.40%
Linde PLC0.35%
Eaton Corp PLC0.23%
Accenture PLC0.23%
Chubb Ltd0.18%
Medtronic PLC0.18%
Johnson Controls International plc0.13%
Comcast Corp0.13%
Elevance Health Inc0.12%
SLB Ltd0.11%
Royal Caribbean Cruises Ltd0.10%
AppLovin Corp0.09%
Becton Dickinson & Co0.08%
Crh PLC0.08%
NXP Semiconductors NV0.07%
Vivmark Residential0.07%
Carnival Corp Ltd0.05%
Block Inc0.05%
Omnicom Group Inc0.04%
Fiserv Inc0.03%
Smurfit Westrock PLC0.03%
General Mills Inc0.03%
Fidelity National Information Services Inc0.03%
EchoStar Corp0.02%
LyondellBasell Industries NV0.02%
Ball Corp0.02%
Invesco Ltd0.02%
Willis Towers Watson PLC0.02%
UDR Inc0.02%
Pentair PLC0.01%
News Corp0.01%
Everest Group Ltd0.01%
Reddit Inc0.01%
Norwegian Cruise Line Holdings Ltd0.01%
Aptiv PLC0.01%
Allegion plc0.01%
Clorox Co/The<0.01%
Camden Property Trust<0.01%
Brown-Forman Corp<0.01%
Jack Henry & Associates Inc<0.01%
Charter Communications Inc<0.01%
Lululemon Athletica Inc<0.01%
Erie Indemnity Co<0.01%
TKO Group Holdings Inc<0.01%
Skydance Corp<0.01%
News Corp<0.01%

Weight gaps

The 100 widest of 455 Holdings in both funds.

Holding weights in GPIX and XSPI, widest gap first
Holding	More in GPIXMore in XSPI	GPIX	XSPI
Alphabet Inc.GOOG	XSPI +1.24 points	0.85%	2.09%
Meta Platforms Inc-Class AMETA	XSPI +0.78 points	1.31%	2.09%
Apple Inc.AAPL	XSPI +0.43 points	7.66%	8.09%
Microsoft CorporationMSFT	XSPI +0.26 points	5.92%	6.18%
Walt Disney Company (The)DIS	XSPI +0.23 points	0.05%	0.28%
Netflix, Inc.NFLX	XSPI +0.21 points	0.20%	0.41%
Intel CorporationINTC	GPIX +0.21 points	0.69%	0.48%
Alphabet Inc.GOOGL	GPIX +0.21 points	2.82%	2.61%
Verizon Communications Inc.VZ	XSPI +0.19 points	0.09%	0.28%
Amazon.com IncAMZN	XSPI +0.19 points	3.57%	3.76%
AT&T Inc.T	XSPI +0.18 points	0.06%	0.24%
The Home Depot, Inc.HD	XSPI +0.15 points	0.35%	0.50%
Advanced Micro Devices Inc.AMD	GPIX +0.12 points	1.39%	1.27%
Lowes Companies IncLOW	XSPI +0.12 points	0.06%	0.18%
Eli Lilly & CoLLY	XSPI +0.11 points	1.66%	1.77%
T-Mobile Us, Inc.TMUS	XSPI +0.10 points	<0.01%	0.10%
Exxonmobil Holdings CorporationXOM	XSPI +0.10 points	1.15%	1.25%
Duke Energy CorporationDUK	GPIX +0.09 points	0.23%	0.14%
Tesla Inc.TSLA	XSPI +0.09 points	1.67%	1.76%
Ptc Inc.PTC	GPIX +0.08 points	0.10%	0.02%
Micron Technology, Inc.MU	GPIX +0.09 points	1.61%	1.52%
Transdigm Group IncorporatedTDG	GPIX +0.09 points	0.14%	0.05%
The Southern Co.SO	GPIX +0.08 points	0.24%	0.16%
Pepsico, Inc.PEP	XSPI +0.08 points	0.21%	0.29%
Kimberly-Clark CorporationKMB	XSPI +0.08 points	0.01%	0.09%
Williams-Sonoma, Inc.WSM	GPIX +0.08 points	0.10%	0.02%
Parker-Hannifin Corp.PH	GPIX +0.07 points	0.17%	0.10%
Ameriprise Financial, Inc.AMP	GPIX +0.07 points	0.11%	0.04%
Nextera Energy, Inc.NEE	XSPI +0.08 points	0.20%	0.28%
NVIDIA CorporationNVDA	XSPI +0.07 points	7.82%	7.89%
Equinix, Inc.EQIX	GPIX +0.07 points	0.15%	0.08%
Lumentum Holdings Inc.LITE	GPIX +0.07 points	0.12%	0.05%
Servicenow IncNOW	GPIX +0.06 points	0.22%	0.16%
Autozone, Inc.AZO	GPIX +0.07 points	0.11%	0.04%
Mckesson CorporationMCK	GPIX +0.06 points	0.16%	0.10%
General Motors CompanyGM	GPIX +0.07 points	0.18%	0.11%
Morgan StanleyMS	GPIX +0.06 points	0.41%	0.35%
Exelon CorporationEXC	XSPI +0.06 points	<0.01%	0.07%
American Electric Power IncAEP	GPIX +0.06 points	0.17%	0.11%
Thermo Fisher Scientific IncTMO	GPIX +0.06 points	0.41%	0.35%
Martin Marietta Materials,incMLM	GPIX +0.05 points	0.08%	0.03%
Walmart IncWMT	XSPI +0.05 points	0.80%	0.85%
Intuit IncINTU	XSPI +0.05 points	0.09%	0.14%
Raymond James Financial, Inc.RJF	GPIX +0.05 points	0.09%	0.04%
Veeva Systems IncVEEV	GPIX +0.04 points	0.11%	0.07%
Rockwell Automation IncROK	GPIX +0.05 points	0.09%	0.04%
Seagate Technology Holdin PLCSTX	GPIX +0.05 points	0.23%	0.19%
Booking Holdings Inc.BKNG	XSPI +0.04 points	0.14%	0.18%
Wec Energy Group, Inc.WEC	XSPI +0.05 points	<0.01%	0.05%
Simon Property Group IncSPG	GPIX +0.05 points	0.15%	0.10%
Deere & CompanyDE	GPIX +0.04 points	0.25%	0.21%
Public-Svc Enterprise GroupPEG	GPIX +0.05 points	0.10%	0.05%
Monolithic Power Systems, Inc.MPWR	GPIX +0.05 points	0.10%	0.05%
United Rentals, Inc.URI	GPIX +0.05 points	0.11%	0.06%
W.w. Grainger IncGWW	GPIX +0.04 points	0.09%	0.05%
Ametek Inc (New)AME	GPIX +0.05 points	0.11%	0.06%
Tjx Companies Inc (New)TJX	GPIX +0.04 points	0.28%	0.24%
Msci Inc.MSCI	GPIX +0.04 points	0.08%	0.04%
Idexx LaboratoriesIDXX	GPIX +0.04 points	0.08%	0.04%
Ulta Beauty IncULTA	GPIX +0.05 points	0.07%	0.02%
Ross Stores IncROST	GPIX +0.05 points	0.15%	0.10%
Philip Morris Intl IncPM	XSPI +0.04 points	0.48%	0.52%
Mastercard IncorporatedMA	XSPI +0.04 points	0.77%	0.81%
Estee Lauder Cos Inc Cl-AEL	GPIX +0.04 points	0.07%	0.03%
Ebay Inc.EBAY	GPIX +0.04 points	0.12%	0.08%
BlackRock Funding, Inc.BLK	GPIX +0.04 points	0.29%	0.25%
Johnson & JohnsonJNJ	XSPI +0.04 points	1.00%	1.04%
Salesforce IncCRM	XSPI +0.04 points	0.26%	0.30%
Comfort Systems Usa IncFIX	GPIX +0.04 points	0.08%	0.04%
Carrier Global CorporationCARR	GPIX +0.04 points	0.10%	0.06%
Take Two Interactive SoftwareTTWO	XSPI +0.03 points	<0.01%	0.04%
Netapp, Inc.NTAP	GPIX +0.04 points	0.09%	0.05%
The Procter & Gamble CompanyPG	GPIX +0.04 points	0.62%	0.58%
Monster Beverage CorporationMNST	GPIX +0.04 points	0.14%	0.10%
Workday, Inc.WDAY	GPIX +0.04 points	0.09%	0.05%
Autodesk, Inc.ADSK	XSPI +0.03 points	0.03%	0.06%
Regeneron Pharmaceutical IncREGN	GPIX +0.03 points	0.11%	0.08%
Airbnb Inc.ABNB	GPIX +0.04 points	0.14%	0.10%
Vici Properties Inc.VICI	XSPI +0.04 points	<0.01%	0.04%
AbbVie Inc.ABBV	XSPI +0.04 points	0.78%	0.82%
Ppl CorporationPPL	XSPI +0.04 points	<0.01%	0.04%
Vulcan Materials CoVMC	GPIX +0.03 points	0.09%	0.06%
Sandisk CorporationSNDK	GPIX +0.04 points	0.29%	0.25%
Live Nation Entertainment IncLYV	XSPI +0.04 points	<0.01%	0.04%
Keurig Dr Pepper IncKDP	GPIX +0.03 points	0.10%	0.07%
Intercontinental Exchange IncICE	GPIX +0.04 points	0.18%	0.14%
Nasdaq Inc.NDAQ	GPIX +0.04 points	0.11%	0.07%
General Electric CompanyGE	XSPI +0.03 points	0.47%	0.50%
Western Digital CorporationWDC	GPIX +0.03 points	0.21%	0.18%
Nike Class-BNKE	GPIX +0.03 points	0.10%	0.07%
Fortinet, Inc.FTNT	GPIX +0.03 points	0.15%	0.12%
Illinois Tool WorksITW	GPIX +0.03 points	0.15%	0.12%
The Travelers Companies, IncTRV	GPIX +0.04 points	0.14%	0.10%
Dell Technologies Inc.DELL	GPIX +0.04 points	0.22%	0.18%
Coca-Cola Company (The)KO	XSPI +0.04 points	0.55%	0.59%
Humana Inc.HUM	GPIX +0.03 points	0.07%	0.04%
Caterpillar Inc (Delaware)CAT	GPIX +0.04 points	0.46%	0.42%
Targa Resources Corp.TRGP	GPIX +0.03 points	0.11%	0.08%
Eog Resources IncEOG	XSPI +0.03 points	0.11%	0.14%
Emerson Electric Co.EMR	GPIX +0.03 points	0.17%	0.14%

All 490 GPIX holdings⁠All XSPI 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 XSPI Cost

Overpaying XSPI vs GPIX

$12,410

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

GPIX 0.29%
$5,952
XSPI 0.98%
$18,362

Amount$10,000

Years30 years

Cost over time

GPIX 0.29%
XSPI 0.98%
Overpaying

Year by year

Year	GPIX	XSPI	Overpaying
10	$527	$1,729	$1,202
20	$2,044	$6,504	$4,460
30	$5,952	$18,362	$12,410

Expense ratio

0.29%GPIX, cheaper
0.98%XSPI

GPIX0.29%XSPI0.98%

0.10%1.18%

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

GPIX 5th cheapest of 51 funds

XSPI 47th cheapest of 51 funds

GPIX vs XSPI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GPIX 8.32%; XSPI No data
Payout (12M): GPIX $4.59; XSPI No data
Last payment: GPIX $0.40; XSPI $0.71
Ex-dividend: GPIX Oct 1, 2026; XSPI Oct 7, 2026
Paid on: GPIX Oct 7, 2026; XSPI Oct 9, 2026
Frequency: GPIX Monthly; XSPI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPIXMonthly · 35 paymentsAll GPIX payments⁠

XSPIMonthly · 9 paymentsAll XSPI payments⁠

GPIX vs XSPI 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%XSPI No data
Return per unit of riskSharpe ratio, 3 years: GPIX 1.49XSPI No data
Worst fallMax drawdown, 5 years: GPIX −17.5%since Oct 2023XSPI No data
Market sensitivityBeta, 5 years: GPIX 0.84XSPI 1.06; Market = 1

GPIX and XSPI 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 XSPI

In short

Stated mandate

Why people hold it

Worth knowing

How GPIX and XSPI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in XSPI

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 XSPI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GPIX

Only in XSPI

Weight gaps