Which paid more, GPIQ or JEPQ?

Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and JEPQ paid 11.9%, so JEPQ paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, GPIQ or JEPQ?

With every distribution reinvested, GPIQ returned +13.0% and JEPQ +10.4% over the year to Nov 4, 2026.

Which is cheaper, GPIQ or JEPQ?

GPIQ charges 0.29% a year and JEPQ charges 0.35%, so GPIQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

GPIQ vs JEPQ: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, JEPQ paid 11.9% of its price in cash against GPIQ’s 10.9%, though GPIQ returned more with it reinvested.

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Net assets on Nov 3, 2026: $6.4bn for Goldman Sachs Nasdaq-100 Premium Income ETF and $42.1bn for JPMorgan Nasdaq Equity Premium Income ETF.

GPIQ on its own →JEPQ on its own →

At a glance

10.9%

GPIQ cash paid, 1 year

11.9%

JEPQ cash paid, 1 year

+13.0%

GPIQ total return, 1 year

+10.4%

JEPQ total return, 1 year

GPIQ · 1 year to Nov 4, 2026 0.7 pts ahead of QQQ

GPIQ

+13.0%

QQQ

+12.3%

0.7 pts ahead of QQQ

GPIQ over 1 year: paid 10.9%, price +1.7%, total +13.0%, QQQ +12.3%, +0.7 pts. Data to Nov 4, 2026.

QQQ

+12.3%

GPIQ

+13.0%

10.9% of it arrived as cash

0.7 pts ahead of QQQ

Total return, distributions reinvested

0.7 pts ahead of QQQ

GPIQ over 1 year: paid 10.9%, price +1.7%, total +13.0%, QQQ +12.3%, +0.7 pts. Data to Nov 4, 2026.

QQQ

+12.3%

GPIQ

+13.0%

10.9% as cash

0.7 pts ahead of QQQ

10.9% of it arrived as cash. Total return, distributions reinvested. GPIQ over 1 year: paid 10.9%, price +1.7%, total +13.0%, QQQ +12.3%, +0.7 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

JEPQ · 1 year to Nov 4, 2026 1.9 pts behind QQQ

JEPQ

+10.4%

QQQ

+12.3%

1.9 pts behind QQQ

JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.

QQQ

+12.3%

JEPQ

+10.4%

11.9% of it arrived as cash

1.9 pts behind QQQ

Total return, distributions reinvested

1.9 pts behind QQQ

JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.

QQQ

+12.3%

JEPQ

+10.4%

11.9% as cash

1.9 pts behind QQQ

11.9% of it arrived as cash. Both charts share one scale, with zero at the line. JEPQ over 1 year: paid 11.9%, price −1.9%, total +10.4%, QQQ +12.3%, −1.9 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

GPIQ costs 0.06 points a year less; their one-year returns differ by 2.6 points; JEPQ is 6.6 times larger.

Points (pts) are percentage points.

GPIQ vs JEPQ: Dividend Yield & Total Return
Measure	GPIQ	JEPQ
Paid and earned
Measure	GPIQ	JEPQ
Total return, 1 year	+13.0%	+10.4%
Price change, 1 year	rose 1.7%	fell 1.9%
Against its benchmark
Measure	GPIQ	JEPQ
Benchmark	Nasdaq-100, measured through QQQ	Nasdaq-100, measured through QQQ
Cost and size
Measure	GPIQ	JEPQ
Expense ratio	0.29%	0.35%
Net assets, as of Nov 3, 2026	$6.4bn	$42.1bn
Holdings
Measure	GPIQ	JEPQ
Holdings in common	69%

ETFIQ Distribution Coverage Score · GPIQ scores higher How much of what it paid out did its total return cover?

IQ Income Score69.8GPIQ50JEPQ

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

GPIQ 69.8

JEPQ 50

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

Nov 3, 2023 to Oct 30, 2026 · 156 weekly returns · each against QQQ

GPIQ JEPQ

Return

Total return edge GPIQ +79.5% +66.4%

Annualized edge GPIQ +21.5% +18.5%

Price return edge GPIQ +32.1% +21.2%

Risk

Volatility edge JEPQ 16.5% 14.0%

Max drawdown edge JEPQ (slight) −19.5% −18.5%

Downside capture 88.7% 76.8%

Beta 0.85 0.69

Risk-adjusted

Sharpe edge GPIQ (slight) 1.00 0.97

Sortino edge GPIQ (slight) 1.50 1.40

Treynor 0.194 0.197

Calmar edge GPIQ (slight) 1.10 1.00

Against the benchmark

Alpha +0.3% a year +0.4% a year

Alpha t-stat 0.29 0.17

Information ratio −0.75 −0.74

Tracking error 3.4% 7.4%

Reading

From Nov 2023 to Oct 2026, GPIQ returned more: +79.5% to +66.4%. JEPQ swung less: 14.0% to 16.5%. JEPQ fell slightly less at its worst: −18.5% to −19.5%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GPIQ vs JEPQ: Dividend Yield & Total Return
Measure	GPIQ	JEPQ	QQQ	Edge	How it is measured
Return
Total return	+79.5%	+66.4%		GPIQ	Price change plus distributions, reinvested.
Annualized	+21.5%	+18.5%		GPIQ	Total return as a yearly rate.
Price return	+32.1%	+21.2%		GPIQ	Price change alone, distributions left out.
Risk
Volatility	16.5%	14.0%		JEPQ	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	11.0%	9.7%		JEPQ	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−19.5%	−18.5%		JEPQ (slight)	Deepest fall from a high to the low after it.
Upside capture	76.7%	57.9%	100.0%	GPIQ	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	88.7%	76.8%	100.0%	JEPQ	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.85	0.69	1.00	JEPQ lower	How far it moves for each 1% its benchmark moves.
R squared	0.99	0.91	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	1.00	0.97		GPIQ (slight)	Return above Treasury bills per unit of volatility.
Sortino	1.50	1.40		GPIQ (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.194	0.197	0.190	Tie	Return above Treasury bills per unit of beta.
Calmar	1.10	1.00		GPIQ (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	QQQ	QQQ	QQQ		The ETF each fund is measured against.
Alpha	+0.3% a year	+0.4% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.29	0.17		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−1.7% to +2.3%	−4.5% to +5.4%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.75	−0.74		Tie	Return against its benchmark per unit of tracking error.
Tracking error	3.4%	7.4%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 156 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

69%

By the books each fund has filed, GPIQ and JEPQ hold 69% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

69% in common

Positions both hold · largest shared weight first GPIQ JEPQ

NVIDIA CORP 7.47% 7.09%

APPLE INC 6.59% 6.76%

MICRON TECHNOLOGY INC 5.62% 4.19%

AMAZON.COM INC 4.20% 3.98%

MICROSOFT CORP 3.95% 5.61%

ALPHABET INC 3.54% 4.10%

ADVANCED MICRO DEVICES INC 4.10% 3.31%

META PLATFORMS INC 2.77% 2.70%

TESLA INC 3.17% 2.40%

WALMART INC 2.12% 2.03%

BROADCOM INC 2.68% 1.95%

LAM RESEARCH CORP 2.37% 1.58%

Only in one fund ↓

Only in GPIQ

ALPHABET INC 2.56%

FORTINET INC 0.69%

AUTOMATIC DATA PROCESSING INC 0.65%

CADENCE DESIGN SYSTEMS INC 0.58%

AMERICAN ELECTRIC POWER COMPANY INC 0.38%

MONOLITHIC POWER SYSTEMS INC 0.35%

AUTODESK INC 0.35%

WARNER BROS. DISCOVERY INC 0.33%

Only in JEPQ

SPACE EXPLORATION TECHNOLOGIES CORP 1.61%

Nasdaq-100 equity-linked note 12 1.17%

Nasdaq-100 equity-linked note 13 1.17%

Nasdaq-100 equity-linked note 14 1.17%

Nasdaq-100 equity-linked note 15 1.16%

Nasdaq-100 equity-linked note 17 1.16%

Nasdaq-100 equity-linked note 11 1.15%

Nasdaq-100 equity-linked note 16 1.15%

Check overlap with more funds →

Side by side

GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF · Covered call on QQQ, paying monthly JEPQ JPMorgan Nasdaq Equity Premium Income ETF · Writes calls through equity-linked notes (ELNs) on the Nasdaq-100, paying monthly

Issuer Goldman Sachs JPMorgan

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) Nasdaq-100 (QQQ)

Pays monthly monthly

Payout rate, annualized 10.5% 11.3%

Expense ratio 0.29% 0.35%

Cash paid, 1 year 10.9% 11.9%

Price change, 1 year +1.7% −1.9%

Total return, 1 year +13.0% +10.4%

Benchmark return, 1 year +12.3% +12.3%

Ahead or behind +0.7 pts −1.9 pts

Return of capital, latest estimate not published not published

Age 3.0 years 4.5 years

Net assets, as of Nov 3, 2026 $6.4bn $42.1bn

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: GPIQ vs JEPQ: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	GPIQ	JEPQ	GPIQ	JEPQ	GPIQ	JEPQ
3 months	−2.6%	−0.9%	2.6%	3.0%	+0.8 pts	+2.6 pts
6 months	+0.5%	+2.3%	5.3%	6.2%	+0.9 pts	+2.6 pts
1 year	+13.0%	+10.4%	10.9%	11.9%	+0.7 pts	−1.8 pts
3 years	+80.0%	+66.7%	38.3%	38.3%	−11.4 pts	−24.7 pts
Since launchNot the same days: GPIQ Oct 2023 · JEPQ May 2022	+91.4%	+85.2%	40.7%	51.4%	−13.4 pts	−30.6 pts

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Client brief

No client brief for this pair: the two funds' holdings are dated 126 days apart.

Alert

About each fund

GPIQ

Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting value in cash distributions while its price rose 1.7%. With every distribution reinvested, the fund returned +13.0%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 0.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.5%, paid monthly.

JEPQ

Over the year to Nov 4, 2026, JEPQ paid 11.9% of its starting value in cash distributions while its price fell 1.9%. With every distribution reinvested, the fund returned +10.4%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 1.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 11.3%, paid monthly.

Questions people ask

Which paid more, GPIQ or JEPQ?: Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and JEPQ paid 11.9%, so JEPQ paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, GPIQ or JEPQ?: With every distribution reinvested, GPIQ returned +13.0% and JEPQ +10.4% over the year to Nov 4, 2026.
Which is cheaper, GPIQ or JEPQ?: GPIQ charges 0.29% a year and JEPQ charges 0.35%, so GPIQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

GPIQ vs IQQQ GPIQ vs KIQQ GPIQ vs QQQI GPIQ vs QYLD JEPQ vs QQQI JEPQ vs QYLD JEPQ vs QDTE JEPQ vs TDAQ

Where to next

Nasdaq-100 (QQQ) →GPIQ on its own →JEPQ on its own →GPIQ dividend history →GPIQ holdings →JEPQ dividend history →JEPQ holdings →Method →Standards and sources →

Sources and dates

GPIQ filings on SEC EDGAR ↗

GPIQ prospectus with the expense ratio (SEC) ↗

Goldman Sachs website ↗

JEPQ filings on SEC EDGAR ↗

JEPQ prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, GPIQ against JEPQ, data as of Nov 4, 2026. https://etfiq.com/compare/income/gpiq-vs-jepq

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