GPIX vs XYLG: Which Covered Call ETF Is Better?

GPIX and XYLG are both covered call ETFs tracking the same benchmark, but with different approaches. GPIX offers a 8.22% yield, while XYLG provides a 12.83% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.

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Compare covered call ETFs with the same benchmark side by side

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GPIX

Goldman Sachs S&P 500 Premium Income ETF

S&P 500Inception: Mar 1, 2023

7.60

Overall Score

XYLG

Global X S&P 500 Covered Call & Growth ETF

S&P 500Inception: Oct 5, 2020

6.89

Overall Score

CriteriaGPIXXYLG
Overall Score
7.60
6.89
Total Return (25%)
8.82
7.58
Downside Protection (25%)
4.10
5.05
Upside Participation (25%)
8.76
7.83
Consistency (15%)
9.70
8.03
Expense Ratio (5%)
8.88
5.00
Liquidity (5%)
5.54
6.29
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Key Metrics

MetricGPIXXYLG
Expense Ratio0.290%0.600%
Inception DateMar 1, 2023Oct 5, 2020
IssuerGoldman SachsGlobal X
Distribution FrequencyMonthlyMonthly
Maturity Rating2/5 stars4/5 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%.

XYLG

Captured 78% of S&P 500 upside and 76% of the downside; the 12.8% TTM yield includes a one-off, and the regular yield is 5.6%.

Investor Profile:

XYLG tracks the Cboe S&P 500 Half BuyWrite Index. It holds the S&P 500 stocks, 506 positions, and sells one-month at-the-money calls on up to half of each holding, which leaves the rest free to follow the index. It paid a one-time distribution of $2.14 per share on Dec 30, 2025. It pays monthly.

Full scores for these funds

GPIX scorecardXYLG 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.

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