GPIQ vs QYLD: Which Covered Call ETF Is Better?

GPIQ and QYLD are both covered call ETFs tracking the same benchmark, but with different approaches. GPIQ offers a 9.94% yield, while QYLD provides a 11.49% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.

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GPIQ

Goldman Sachs Nasdaq-100 Premium Income ETF

NasdaqInception: Oct 24, 2023

7.57

Overall Score

QYLD

Global X Nasdaq 100 Covered Call ETF

NasdaqInception: Dec 11, 2013

6.00

Overall Score

CriteriaGPIQQYLD
Overall Score
7.57
6.00
Total Return (25%)
8.57
2.22
Downside Protection (25%)
4.55
8.90
Upside Participation (25%)
8.51
5.03
Consistency (15%)
9.70
8.78
Expense Ratio (5%)
8.88
5.00
Liquidity (5%)
5.27
7.87
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Key Metrics

MetricGPIQQYLD
Expense Ratio0.290%0.600%
Inception DateOct 24, 2023Dec 11, 2013
IssuerGoldman SachsGlobal X
Distribution FrequencyMonthlyMonthly
Maturity Rating2/5 stars5/5 stars

Verdicts

GPIQ

Keeps 85% of Nasdaq-100 upside for a 9.9% yield at 0.29%, with a yield 1.2 to 3.8 points below JEPQ and QQQI.

Investor Profile:

GPIQ is an actively managed Goldman Sachs fund that holds 108 large-cap stocks, mainly from the Nasdaq-100. It sells call options on a variable share of the portfolio, between 25% and 75%, which leaves part of the position free to follow the index. It pays monthly and charges 0.29%.

QYLD

Cut volatility to 11.7% (QQQ 20.9%), but captured 53% of upside against 60% of downside, and total return since 2019 is +109% against QQQ's +362%.

Investor Profile:

QYLD tracks the Cboe NASDAQ-100 BuyWrite V2 Index. It holds the Nasdaq-100 stocks, 104 positions, and sells at-the-money call options on the whole portfolio each month. The rules are mechanical and the fund pays monthly. It gives up the most upside of any Nasdaq income fund in the universe.

Full scores for these funds

GPIQ scorecardQYLD scorecard

Other comparisons in this benchmark group

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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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