Which paid more, GPIQ or PAPI?

Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and PAPI paid 8.2%, so GPIQ 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 PAPI?

With every distribution reinvested, GPIQ returned +13.0% and PAPI +23.4% over the year to Nov 4, 2026.

Which is cheaper, GPIQ or PAPI?

GPIQ and PAPI both charge 0.29% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

GPIQ vs PAPI: Dividend Yield & Total Return

Share on X Download as PDF

Over the year to Nov 4, 2026, GPIQ paid 10.9% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

askIQ about this page

askIQ about GPIQ and PAPI

Net assets: $6.4bn on Nov 3, 2026 for Goldman Sachs Nasdaq-100 Premium Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

GPIQ on its own →PAPI on its own →

At a glance

10.9%

GPIQ cash paid, 1 year

8.2%

PAPI cash paid, 1 year

+13.0%

GPIQ total return, 1 year

+23.4%

PAPI 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%

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.

PAPI · 1 year to Nov 4, 2026 9.4 pts behind IWD

PAPI

+23.4%

IWD

+32.8%

9.4 pts behind IWD

PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

IWD

+32.8%

PAPI

+23.4%

8.2% as cash

9.4 pts behind IWD

Total return, distributions reinvested

9.4 pts behind IWD

PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

IWD

+32.8%

PAPI

+23.4%

9.4 pts behind IWD

8.2% of it arrived as cash. Both charts share one scale, 0 to +32.8%. PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +32.8%. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.29% a year; their one-year returns differ by 10.4 points.

Points (pts) are percentage points.

GPIQ vs PAPI: Dividend Yield & Total Return
Measure	GPIQ	PAPI
Paid and earned
Measure	GPIQ	PAPI
Total return, 1 year	+13.0%	+23.4%
Price change, 1 year	rose 1.7%	rose 14.3%
Against its benchmark
Measure	GPIQ	PAPI
Benchmark	Nasdaq-100, measured through QQQ	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	GPIQ	PAPI
Expense ratio	0.29%	0.29%
Net assets, GPIQ as of Nov 3, 2026 and PAPI as of Jun 30, 2026	$6.4bn	$400m
Holdings
Measure	GPIQ	PAPI
Holdings in common	9%

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

IQ Income Score69.8GPIQ96.1PAPI

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

PAPI 96.1

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

GPIQ PAPI

Return

Total return edge GPIQ +79.5% +41.5%

Annualized edge GPIQ +21.5% +12.3%

Price return edge GPIQ +32.1% +13.2%

Risk

Volatility edge PAPI 16.5% 10.7%

Max drawdown edge PAPI −19.5% −10.6%

Downside capture 88.7% 82.0%

Beta 0.85 0.69

Risk-adjusted

Sharpe edge GPIQ 1.00 0.72

Sortino edge GPIQ 1.50 1.00

Treynor 0.194 0.129

Calmar edge PAPI (slight) 1.10 1.16

Against the benchmark

Alpha +0.3% a year −3.2% a year

Alpha t-stat 0.29 −0.80

Information ratio −0.75 −1.11

Tracking error 3.4% 7.8%

Each against its own benchmark: GPIQ against QQQ, Nov 3, 2023 to Oct 30, 2026; PAPI against IWD, Oct 27, 2023 to Oct 30, 2026.

Reading

From Nov 2023 to Oct 2026, GPIQ returned more: +79.5% to +41.5%. PAPI swung less: 10.7% to 16.5%. PAPI fell less at its worst: −10.6% to −19.5%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GPIQ vs PAPI: Dividend Yield & Total Return
Measure	GPIQ	PAPI	Edge	How it is measured
Return
Total return	+79.5%	+41.5%	GPIQ	Price change plus distributions, reinvested.
Annualized	+21.5%	+12.3%	GPIQ	Total return as a yearly rate.
Price return	+32.1%	+13.2%	GPIQ	Price change alone, distributions left out.
Risk
Volatility	16.5%	10.7%	PAPI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	11.0%	7.7%	PAPI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−19.5%	−10.6%	PAPI	Deepest fall from a high to the low after it.
Upside capture	76.7%	61.0%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	88.7%	82.0%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.85	0.69	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.99	0.60	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	1.00	0.72	GPIQ	Return above Treasury bills per unit of volatility.
Sortino	1.50	1.00	GPIQ	Return above Treasury bills per unit of downside deviation.
Treynor	0.194	0.129		Return above Treasury bills per unit of beta.
Calmar	1.10	1.16	PAPI (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	QQQ	IWD		The ETF each fund is measured against.
Alpha	+0.3% a year	−3.2% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	0.29	−0.80	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−1.7% to +2.3%	−11.2% to +4.7%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.75	−1.11		Return against its benchmark per unit of tracking error.
Tracking error	3.4%	7.8%	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

By the books each fund has filed, GPIQ and PAPI hold 9% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.

50%

0 half 100%

half

9% in common

Positions both hold · largest shared weight first GPIQ PAPI

CISCO SYSTEMS INC 2.04% 0.76%

TEXAS INSTRUMENTS INC 1.23% 0.70%

ANALOG DEVICES INC 0.88% 0.62%

AUTOMATIC DATA PROCESSING INC 0.65% 0.59%

ALPHABET INC 3.54% 0.59%

QUALCOMM INC 0.87% 0.58%

LINDE PLC 1.11% 0.54%

COSTCO WHOLESALE CORP 1.97% 0.48%

GILEAD SCIENCES INC 0.72% 0.48%

PEPSICO INC 0.83% 0.46%

COMCAST CORP 0.51% 0.39%

MICROSOFT CORP 3.95% 0.39%

Only in one fund ↓

Only in GPIQ

NVIDIA CORP 7.47%

APPLE INC 6.59%

MICRON TECHNOLOGY INC 5.62%

AMAZON.COM INC 4.20%

ADVANCED MICRO DEVICES INC 4.10%

TESLA INC 3.17%

INTEL CORP 3.01%

META PLATFORMS INC 2.77%

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Power Integrations, Inc. 0.73%

Royalty Pharma plc 0.72%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Cummins, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Check overlap with more funds →

Side by side

GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF · Covered call on QQQ, paying monthly PAPI Parametric Equity Premium Income ETF · Writes options on the S&P 500, measured against the Russell 1000 Value Index, paying monthly

Issuer Goldman Sachs Parametric

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) iShares Russell 1000 Value ETF (IWD)

Pays monthly monthly

Payout rate, annualized 10.5% 6.8%

Expense ratio 0.29% 0.29%

Cash paid, 1 year 10.9% 8.2%

Price change, 1 year +1.7% +14.3%

Total return, 1 year +13.0% +23.4%

Benchmark return, 1 year +12.3% +32.8%

Ahead or behind +0.7 pts −9.4 pts

Return of capital, latest estimate not published not published

Age 3.0 years 3.0 years

Net assets, GPIQ as of Nov 3, 2026 and PAPI as of Jun 30, 2026 $6.4bn $400m

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 PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	GPIQ	PAPI	GPIQ	PAPI	GPIQ	PAPI
3 months	−2.6%	+6.6%	2.6%	1.8%	+0.8 pts	+2.6 pts
6 months	+0.5%	+13.2%	5.3%	3.9%	+0.9 pts	−0.7 pts
1 year	+13.0%	+23.4%	10.9%	8.2%	+0.7 pts	−9.4 pts
3 years	+80.0%	+44.5%	38.3%	23.7%	−11.4 pts	−39.8 pts
Since launchNot the same days: GPIQ Oct 2023 · PAPI Oct 2023	+91.4%	+45.5%	40.7%	23.9%	−13.4 pts	−42.4 pts

Open this comparison in the app →

Client brief:

The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.

Your saved page · Privacy.

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.

PAPI

Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting value in cash distributions while its price rose 14.3%. With every distribution reinvested, the fund returned +23.4%. iShares Russell 1000 Value ETF (IWD) returned +32.8% over the same days, so a holder was behind by 9.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.8%, paid monthly.

Questions people ask

Which paid more, GPIQ or PAPI?: Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and PAPI paid 8.2%, so GPIQ 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 PAPI?: With every distribution reinvested, GPIQ returned +13.0% and PAPI +23.4% over the year to Nov 4, 2026.
Which is cheaper, GPIQ or PAPI?: GPIQ and PAPI both charge 0.29% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

GPIQ vs TSLY GPIQ vs YLDE GPIQ vs SDVD GPIQ vs MSTY PAPI vs QYLD PAPI vs QQQI PAPI vs JEPQ PAPI vs QLDY

Where to next

Nasdaq-100 (QQQ) →iShares Russell 1000 Value ETF (IWD) →GPIQ on its own →PAPI on its own →GPIQ dividend history →GPIQ holdings →PAPI dividend history →PAPI holdings →Method →Standards and sources →

Sources and dates

GPIQ filings on SEC EDGAR ↗

GPIQ prospectus with the expense ratio (SEC) ↗

Goldman Sachs website ↗

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric 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 PAPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/gpiq-vs-papi

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.