Which paid more, GPIQ or PBP?

Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and PBP paid 11.7%, so PBP 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 PBP?

With every distribution reinvested, GPIQ returned +13.0% and PBP +16.2% over the year to Nov 4, 2026.

Which is cheaper, GPIQ or PBP?

GPIQ and PBP 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 PBP: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, PBP paid 11.7% of its price in cash against GPIQ’s 10.9%, and 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 $389m for Invesco S&P 500 BuyWrite ETF.

GPIQ on its own →PBP on its own →

At a glance

10.9%

GPIQ cash paid, 1 year

11.7%

PBP cash paid, 1 year

+13.0%

GPIQ total return, 1 year

+16.2%

PBP 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% 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.

PBP · 1 year to Nov 4, 2026 1.4 pts ahead of SPY

PBP

+16.2%

SPY

+14.8%

1.4 pts ahead of SPY

PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.

SPY

+14.8%

PBP

+16.2%

11.7% of it arrived as cash

1.4 pts ahead of SPY

Total return, distributions reinvested

1.4 pts ahead of SPY

PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.

SPY

+14.8%

PBP

+16.2%

11.7% as cash

1.4 pts ahead of SPY

11.7% of it arrived as cash. Both charts share one scale, 0 to +16.2%. PBP over 1 year: paid 11.7%, price +3.6%, total +16.2%, SPY +14.8%, +1.4 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +16.2%. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.29% a year; their one-year returns differ by 3.2 points; GPIQ is 16.5 times larger.

Points (pts) are percentage points.

GPIQ vs PBP: Dividend Yield & Total Return
Measure	GPIQ	PBP
Paid and earned
Measure	GPIQ	PBP
Total return, 1 year	+13.0%	+16.2%
Price change, 1 year	rose 1.7%	rose 3.6%
Return of capital, issuer estimate		95% of the Oct 23, 2026 payment
Against its benchmark
Measure	GPIQ	PBP
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	GPIQ	PBP
Expense ratio	0.29%	0.29%
Net assets, as of Nov 3, 2026	$6.4bn	$389m
Holdings
Measure	GPIQ	PBP
Holdings in common	50%

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

IQ Income Score69.8GPIQ75.1PBP

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

PBP 75.1

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

What they share

50%

By the books each fund has filed, GPIQ and PBP hold 50% 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

50% in common

Positions both hold · largest shared weight first GPIQ PBP

NVIDIA CORP 7.47% 7.71%

APPLE INC 6.59% 7.47%

MICROSOFT CORP 3.95% 5.96%

AMAZON.COM INC 4.20% 3.79%

ALPHABET INC 3.54% 2.53%

BROADCOM INC 2.68% 2.44%

META PLATFORMS INC 2.77% 2.11%

ALPHABET INC 2.56% 2.04%

TESLA INC 3.17% 1.73%

MICRON TECHNOLOGY INC 5.62% 1.49%

ADVANCED MICRO DEVICES INC 4.10% 1.22%

WALMART INC 2.12% 0.86%

Only in one fund ↓

Only in GPIQ

ASML HOLDING NV 0.83%

ARM HOLDINGS PLC 0.67%

SHOPIFY INC 0.52%

MERCADOLIBRE INC 0.44%

ASTERA LABS INC 0.37%

WARNER BROS. DISCOVERY INC 0.33%

ELECTRONIC ARTS INC 0.28%

NEBIUS GROUP NV 0.28%

Only in PBP

Eli Lilly & Co 1.74%

Berkshire Hathaway Inc 1.60%

JPMorgan Chase & Co 1.39%

ExxonMobil Holdings Corp 1.12%

Visa Inc 1.10%

Johnson & Johnson 0.99%

Mastercard Inc 0.81%

AbbVie Inc 0.78%

Check overlap with more funds →

Side by side

GPIQ Goldman Sachs Nasdaq-100 Premium Income ETF · Covered call on QQQ, paying monthly PBP Invesco S&P 500 BuyWrite ETF · Covered call on SPY, paying monthly

Issuer Goldman Sachs Invesco

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 10.5% 8.5%

Expense ratio 0.29% 0.29%

Cash paid, 1 year 10.9% 11.7%

Price change, 1 year +1.7% +3.6%

Total return, 1 year +13.0% +16.2%

Benchmark return, 1 year +12.3% +14.8%

Ahead or behind +0.7 pts +1.4 pts

Return of capital, latest estimate not published 95%

Age 3.0 years 18.9 years

Net assets, as of Nov 3, 2026 $6.4bn $389m

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 PBP: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	GPIQ	PBP	GPIQ	PBP	GPIQ	PBP
3 months	−2.6%	+2.5%	2.6%	2.5%	+0.8 pts	+2.6 pts
6 months	+0.5%	+8.1%	5.3%	5.3%	+0.9 pts	+3.1 pts
1 year	+13.0%	+16.2%	10.9%	11.7%	+0.7 pts	+1.4 pts
3 years	+80.0%	+49.6%	38.3%	33.4%	−11.4 pts	−33.3 pts
Since launchNot the same days: GPIQ Oct 2023 · PBP Dec 2007	+91.4%	+172.0%	40.7%	92.4%	−13.4 pts	−467.6 pts

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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.

PBP

Over the year to Nov 4, 2026, PBP paid 11.7% of its starting value in cash distributions while its price rose 3.6%. With every distribution reinvested, the fund returned +16.2%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 1.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.5%, paid monthly. Invesco estimates that 95% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, GPIQ or PBP?: Over the year to Nov 4, 2026, GPIQ paid 10.9% of its starting price in cash and PBP paid 11.7%, so PBP 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 PBP?: With every distribution reinvested, GPIQ returned +13.0% and PBP +16.2% over the year to Nov 4, 2026.
Which is cheaper, GPIQ or PBP?: GPIQ and PBP both charge 0.29% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

GPIQ vs SEPI GPIQ vs XSPI GPIQ vs OMAH GPIQ vs OEI PBP vs QYLD PBP vs QQQI PBP vs JEPQ PBP vs ROCQ

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →GPIQ on its own →PBP on its own →GPIQ dividend history →GPIQ holdings →PBP dividend history →PBP holdings →Method →Standards and sources →

Sources and dates

GPIQ filings on SEC EDGAR ↗

GPIQ prospectus with the expense ratio (SEC) ↗

Goldman Sachs website ↗

PBP filings on SEC EDGAR ↗

PBP prospectus with the expense ratio (SEC) ↗

PBP 19a-1 distribution notice ↗

Invesco page for PBP ↗

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 PBP, data as of Nov 4, 2026. https://etfiq.com/compare/income/gpiq-vs-pbp

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