GPIX and SPYI 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 SPYI provides ~11.7% yield targeting investor in taxable accounts seeking tax-efficient income. 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
NEOS S&P 500 High Income ETF
6.2
Overall Score
| Criteria | GPIX | SPYI |
|---|---|---|
| Overall Score | 6.5 6.2 | |
| Total Return (25%) | 8.6 7.1 | |
| Downside Protection (25%) | 3.3 5.5 | |
| Upside Participation (25%) | 8.7 7.5 | |
| Consistency (15%) | 4.4 4.3 | |
| Expense Ratio (5%) | 8.9 4.0 | |
| Liquidity (5%) | 5.5 7.4 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | GPIX | SPYI |
|---|---|---|
| Expense Ratio | 0.290% | 0.680% |
| Inception Date | Mar 1, 2023 | Aug 30, 2022 |
| Issuer | Goldman Sachs | NEOS |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 2/5 stars | 3/5 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
The optimal choice for taxable accounts — the Section 1256 tax advantage is underappreciated by the market
Investor Profile:
Investor in taxable accounts seeking tax-efficient income
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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