JEPI and GPIX are both covered call ETFs tracking the same benchmark, but with different approaches. JEPI offers a 8.20% yield, while GPIX provides a 8.22% yield. 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
JPMorgan Equity Premium Income ETF
6.90
Overall Score
Goldman Sachs S&P 500 Premium Income ETF
7.60
Overall Score
| Criteria | JEPI | GPIX |
|---|---|---|
| Overall Score | 6.90 7.60 | |
| Total Return (25%) | 5.05 8.82 | |
| Downside Protection (25%) | 8.27 4.10 | |
| Upside Participation (25%) | 6.00 8.76 | |
| Consistency (15%) | 8.12 9.70 | |
| Expense Ratio (5%) | 8.12 8.88 | |
| Liquidity (5%) | 8.89 5.54 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | JEPI | GPIX |
|---|---|---|
| Expense Ratio | 0.350% | 0.290% |
| Inception Date | May 20, 2020 | Mar 1, 2023 |
| Issuer | JPMorgan | Goldman Sachs |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 2/5 stars |
Cut volatility by a third (10.0% vs 15.7%) and the 2022 loss to -3.5%, but captured only 60% of S&P 500 upside, so five-year return is half of SPY's.
Investor Profile:
JEPI is an actively managed JPMorgan fund that holds a low-volatility basket of about 142 large-cap U.S. stocks. It earns option income through equity-linked notes (ELNs) on the S&P 500, about 15% of the portfolio against a 20% regulatory cap. The ELNs are unsecured bank obligations spread across at least six issuers. It pays monthly and charges 0.35%.
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%.
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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