GPIX vs YSPY

GPIXAGoldman Sachs S&P 500 Premium Income ETF

YSPYDGraniteShares YieldBOOST SPY 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.

YSPY Most S&P 500 income funds sell calls on stocks they own. YSPY sells puts on the 3x SPY ETF instead, aiming for triple the option premium, at 1.15% net of a waiver through December 31, 2026.

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.

YSPY The fund seeks to generate income through an options strategy, primarily by selling put options on leveraged ETFs that track the 3x Long SPY Daily ETF.

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.

• YSPY Aims for 3x the income of a plain SPY options-writing strategy by selling puts on ETFs that track 3x daily SPY, where bigger swings mean bigger premiums. Pays monthly.graniteshares.com
• Not a buy-write. Where IVVW and GPIX sell calls against an S&P 500 basket, YSPY writes puts on a leveraged proxy: a different engine aimed at the same income job.graniteshares.com
• Short-dated options cycles feed monthly distributions, so the payout rhythm stays regular even as the dollar amount moves with volatility and strike levels.graniteshares.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.

• YSPY Not cheap: 1.15% net of a waiver through December 31, 2026, against 5.88% gross, and above the category median. IVVW runs 0.25%, GPIX 0.29% net of a waiver through April 30, 2027.
• Short puts cut both ways: the fund takes the leveraged ETF's declines, while its secondary upside exposure is capped at preset strike levels.graniteshares.comgraniteshares.com 2
• A 2025 launch, still small and lightly traded, which can mean wider spreads than the household names in the S&P 500 income category.

Full GPIX profile⁠

Full YSPY profile⁠