GPIX and ISPY are both covered call ETFs tracking the same benchmark, but with different approaches. GPIX offers ~8.6% yield with a focus on investor seeking s&p 500 covered call with minimum costs, while ISPY provides ~10% yield targeting yield-focused investor accepting minimal downside protection. 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
Goldman Sachs S&P 500 Premium Income ETF
6.5
Overall Score
ProShares S&P 500 High Income ETF
5.6
Overall Score
| Criteria | GPIX | ISPY |
|---|---|---|
| Overall Score | 6.5 5.6 | |
| Total Return (25%) | 8.6 8.0 | |
| Downside Protection (25%) | 3.3 — | |
| Upside Participation (25%) | 8.7 9.0 | |
| Consistency (15%) | 4.4 5.3 | |
| Expense Ratio (5%) | 8.9 5.6 | |
| Liquidity (5%) | 5.5 5.7 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | GPIX | ISPY |
|---|---|---|
| Expense Ratio | 0.290% | 0.550% |
| Inception Date | Mar 1, 2023 | Mar 22, 2023 |
| Issuer | Goldman Sachs | ProShares |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 2/5 stars | 2/5 stars |
Direct competitor to SPYI — GPIX wins on fees, SPYI wins on yield
Investor Profile:
Investor seeking S&P 500 covered call with minimum costs
High yield but zero downside protection is a significant red flag — not suitable as a defensive holding
Investor Profile:
Yield-focused investor accepting minimal downside protection
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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