Forget QYLD: Goldman’s GPIQ Has Beaten It by 3 Points Over the Past Year

1 hour ago 5

David Beren

Thu, July 30, 2026 astatine 10:30 AM CDT 5 min read

Quick Read

GPIQ bushed QYLD by 3 points implicit the past twelvemonth and 4 points year-to-date, owning the aforesaid Nasdaq-100 stocks astatine fractional the fee.
QYLD writes calls connected 100% of its portfolio at-the-money each month, capping astir each upside and grinding its NAV little implicit time.
QYLD inactive pays a higher ~12% output versus GPIQ's ~10%, but GPIQ holders besides captured share-price gains that QYLD's operation cannot deliver.
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Income investors emotion the Global X NASDAQ 100 Covered Call ETF (NASDAQ:QYLD) for 1 reason: a abdominous monthly cheque tied to the Nasdaq-100. QYLD writes at-the-money calls connected the afloat scale each month, collects the premium, and pays astir of it out. The trailing output sits adjacent 11.7%, and the money has grown to $8.33 cardinal successful nett assets connected that pitch. The tradeoff is baked into the strategy: merchantability each telephone astatine the wealth and you headdress astir each upside successful a rising Nasdaq. There is simply a circumstantial alternate that keeps the monthly-income operation but changes the mechanics capable to matter, and QYLD holders should look astatine it directly.

A smartphone displaying a fiscal candlestick illustration with greenish and reddish lines, and 'BUY' and 'SELL' buttons astatine the bottom. To the close of the telephone are 3 airy brownish woody blocks, each with a azygous achromatic superior letter, spelling 'E', 'T', 'F' from near to right. The inheritance is simply a textured acheronian grey surface.

That alternate is the Goldman Sachs Nasdaq-100 Premium Income ETF (NASDAQ:GPIQ). Same underlying index, aforesaid monthly payout cadence, antithetic overlay motor and a overmuch little fee.

Why QYLD Holders Should Pay Attention

Over the past year, GPIQ returned 21.6% connected a full instrumentality ground against QYLD's 18.52%. That is simply a spread of astir 3 percent points successful a azygous twelvemonth connected funds that ain efficaciously the aforesaid stocks. Year to date, the dispersed is wider still, astatine 10.97% for GPIQ versus 6.62% for QYLD. For a covered-call product, a 3-to-4 constituent yearly spread is not cosmetic. It is the quality betwixt keeping gait with the market's amended months and giving them away.

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Where QYLD Falls Short

The rulebook present calls 100% of the portfolio astatine the money every month. That maximizes premium postulation but leaves astir nary country for the scale to tally earlier the calls headdress the fund. The effect implicit clip is good documented successful the stock terms itself: QYLD trades astatine $18.03, and its five-year full instrumentality of 44.13% lags the Nasdaq-100 by a wide borderline due to the fact that the NAV grinds little portion distributions bash the dense lifting.

Fees compound the drag. QYLD carries a 0.60% disbursal ratio. That is the 2nd headwind connected apical of the capped-upside structure.

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