ETV and GPIX are both covered call ETFs tracking the same benchmark, but with different approaches. ETV offers a 7.99% yield, while GPIX provides a 8.22% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
Goldman Sachs S&P 500 Premium Income ETF
7.60
Overall Score
| Criteria | ETV | GPIX |
|---|---|---|
| Overall Score | 5.96 7.60 | |
| Total Return (25%) | 5.09 8.82 | |
| Downside Protection (25%) | 3.71 4.10 | |
| Upside Participation (25%) | 7.82 8.76 | |
| Consistency (15%) | 9.89 9.70 | |
| Expense Ratio (5%) | 1.38 8.88 | |
| Liquidity (5%) | 4.98 5.54 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ETV | GPIX |
|---|---|---|
| Expense Ratio | 0.890% | 0.290% |
| Inception Date | Sep 30, 2005 | Mar 1, 2023 |
| Issuer | Eaton Vance | Goldman Sachs |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 2/5 stars |
The call overlay costs upside (78% captured) without cushioning losses (95% down capture), and a 1.08% expense ratio adds to the drag.
Investor Profile:
ETV is a closed-end fund that holds two stock segments: one seeks to beat the S&P 500, the other the Nasdaq-100. It sells index call options continuously on at least 80% of each segment, with S&P 500 calls on the first and Nasdaq-100 calls on the second. The fund is tax-managed, uses no leverage, and pays monthly. Its shares trade at a discount to NAV of about 9%.
Matched SPY's 2026 return (+12.7%) while paying 8.2%, but yields 3.7 points less than SPYI.
Investor Profile:
GPIX is an actively managed Goldman Sachs fund that holds 488 stocks in the S&P 500. It sells call options on a variable share of the portfolio, between 25% and 75%, which keeps part of the portfolio exposed to rallies. It pays monthly and charges 0.29%.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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