GPIX vs ISPY: Which Covered Call ETF Is Better?

GPIX and ISPY are both covered call ETFs tracking the same benchmark, but with different approaches. GPIX offers a 8.22% yield, while ISPY provides a 5.26% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.

Compare ETFs

Compare covered call ETFs with the same benchmark side by side

Step 1: Select Benchmark

Step 2: Select ETFs to Compare

GPIX

Goldman Sachs S&P 500 Premium Income ETF

S&P 500Inception: Mar 1, 2023

7.60

Overall Score

ISPY

ProShares S&P 500 High Income ETF

S&P 500Inception: Mar 22, 2023

5.61

Overall Score

CriteriaGPIXISPY
Overall Score
7.60
5.61
Total Return (25%)
8.82
7.63
Downside Protection (25%)
4.10
—
Upside Participation (25%)
8.76
8.95
Consistency (15%)
9.70
6.00
Expense Ratio (5%)
8.88
5.62
Liquidity (5%)
5.54
5.74
🔒

Compare Across All Time Windows

Since Inception

3 Years

Pro only

1 Year

Pro only

3 Months

Pro only

Upgrade to Pro — $34/month

Key Metrics

MetricGPIXISPY
Expense Ratio0.290%0.550%
Inception DateMar 1, 2023Mar 22, 2023
IssuerGoldman SachsProShares
Distribution FrequencyMonthlyMonthly
Maturity Rating2/5 stars2/5 stars

Verdicts

GPIX

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%.

ISPY

Daily calls leave 89% of S&P 500 upside but 111% of the downside, for a 5.3% yield.

Investor Profile:

ISPY holds 514 S&P 500 stocks and describes its approach as a covered call strategy using daily options. It aims for monthly income and long-term returns in line with the S&P 500, and its page compares it with the S&P 500 Daily Covered Call Index. The page does not say whether the options are on an index or an ETF, or how much of the portfolio is covered.

Full scores for these funds

GPIX scorecardISPY scorecard

Other comparisons in this benchmark group

See where these rank against every SPY fund

Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.

View the full rankingsHow the scores are built

Get the monthly ranking by email

28 covered call ETFs, rescored every month on total return, downside protection and NAV stability. One email a month, no promotions.

We store your email to send the monthly ranking. Unsubscribe any time by replying to any email. We never share or sell it.