Which is cheaper, GPIX or NLSI?

GPIX charges 0.29% a year and NLSI charges 2.89%, so GPIX is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

GPIX vs NLSI: Dividend Yield & Total Return

GPIX and NLSI both write options for income.

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Net assets: $6.4bn on Nov 3, 2026 for Goldman Sachs S&P 500 Premium Income ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.

GPIX on its own →NLSI on its own →

At a glance

8.8%

GPIX cash paid, 1 year

5.0%

NLSI cash paid, since launch, Dec 10, 2025

+15.6%

GPIX total return, 1 year

+17.7%

NLSI total return, since launch, Dec 10, 2025

GPIX · 1 year to Nov 4, 2026 0.8 pts ahead of SPY

GPIX

+15.6%

SPY

+14.8%

0.8 pts ahead of SPY

GPIX over 1 year: paid 8.8%, price +6.2%, total +15.6%, SPY +14.8%, +0.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

GPIX

+15.6%

8.8% of it arrived as cash

0.8 pts ahead of SPY

Total return, distributions reinvested

0.8 pts ahead of SPY

GPIX over 1 year: paid 8.8%, price +6.2%, total +15.6%, SPY +14.8%, +0.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

GPIX

+15.6%

8.8% cash

0.8 pts ahead of SPY

8.8% of it arrived as cash. Total return, distributions reinvested. GPIX over 1 year: paid 8.8%, price +6.2%, total +15.6%, SPY +14.8%, +0.8 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

NLSI · since launch to Nov 4, 2026 5 pts ahead of SPY

NLSI

+17.7%

SPY

+12.7%

5 pts ahead of SPY

NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

SPY

+12.7%

NLSI

+17.7%

5.0% as cash

5 pts ahead of SPY

Total return, distributions reinvested

5 pts ahead of SPY

NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

SPY

+12.7%

NLSI

+17.7%

5 pts ahead of SPY

5.0% of it arrived as cash. Both charts share one scale, 0 to +17.7%. NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +17.7%. Data to Nov 4, 2026.

Pair scorecard

GPIX costs 2.60 points a year less; GPIX is far larger, $6.5bn against $5.3m.

Points (pts) are percentage points.

GPIX vs NLSI: Dividend Yield & Total Return
Measure	GPIX	NLSI
Paid and earned
Measure	GPIX	NLSI
Total return, 1 year	+15.6%	not published
Price change	rose 6.2% (1 year)	rose 12.0% (since Dec 10, 2025)
Against its benchmark
Measure	GPIX	NLSI
Benchmark	S&P 500, measured through SPY	S&P 500, measured through SPY
Against its benchmark, same days	ahead by 0.8 pts	ahead by 5.0 pts
Cost and size
Measure	GPIX	NLSI
Expense ratio	0.29%	2.89%
Net assets, as of Oct 28, 2026	$6.5bn	$5.3m
Holdings
Measure	GPIX	NLSI
Holdings in common	6%

Method

What they share

By the books each fund has filed, GPIX and NLSI hold 6% 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

6% in common

Positions both hold · largest shared weight first GPIX NLSI

MICRON TECHNOLOGY INC 2.02% 12.00%

CHEVRON CORP 0.55% 4.51%

WESTERN DIGITAL CORP 0.34% 2.46%

SEAGATE TECHNOLOGY HOLDINGS PLC 0.34% 4.06%

UBER TECHNOLOGIES INC 0.26% 3.74%

WALT DISNEY COMPANY (THE) 0.26% 4.42%

PROGRESSIVE CORP (THE) 0.25% 4.11%

APPLOVIN CORP 0.25% 2.75%

SERVICENOW INC 0.23% 4.07%

CAPITAL ONE FINANCIAL CORP 0.22% 3.59%

KKR & CO. INC 0.18% 4.25%

NXP SEMICONDUCTORS NV 0.14% 3.23%

Only in one fund ↓

Only in GPIX

NVIDIA CORP 7.31%

APPLE INC 6.45%

MICROSOFT CORP 3.89%

BROADCOM INC 2.79%

TESLA INC 1.88%

BERKSHIRE HATHAWAY INC 1.50%

ADVANCED MICRO DEVICES INC 1.48%

ELI LILLY & COMPANY 1.48%

Only in NLSI

Goldman Sachs Group Inc 3.27%

SPXW US 11/12/26 P7000 0.03%

SPXW US 11/12/26 P6850 0.02%

SPXW US 11/12/26 P6950 0.02%

SPXW US 11/12/26 P7175 -0.05%

SPXW US 11/12/26 P7250 -0.07%

SPXW US 11/12/26 P7310 -0.09%

Check overlap with more funds →

Side by side

GPIX Goldman Sachs S&P 500 Premium Income ETF · Covered call on SPY, paying monthly NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly

Issuer Goldman Sachs NEOS

Strategy covered call option income

Benchmark S&P 500 (SPY) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 8.4% 5.6%

Expense ratio 0.29% 2.89%

Cash paid, 1 year 8.8% 5.0% (since launch, Dec 10, 2025)

Price change, 1 year +6.2% +12.0% (since launch, Dec 10, 2025)

Total return, 1 year +15.6% +17.7% (since launch, Dec 10, 2025)

Benchmark return, 1 year +14.8% +12.7% (since launch, Dec 10, 2025)

Ahead or behind +0.8 pts +5.0 pts (since launch, Dec 10, 2025)

Return of capital, latest estimate not published 100%

Age 3.0 years 329 days

Net assets, GPIX as of Nov 3, 2026 and NLSI as of Oct 28, 2026 $6.4bn $5.3m

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: GPIX vs NLSI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	GPIX	NLSI	GPIX	NLSI	GPIX	NLSI
3 months	+0.9%	+6.7%	2.1%	1.4%	+1.0 pts	+6.9 pts
6 months	+6.0%	+21.4%	4.3%	3.0%	+1.0 pts	+16.4 pts
1 year	+15.6%	–	8.8%	–	+0.9 pts	–
3 years	+73.9%	–	31.0%	–	−9.0 pts	–
Since launchNot the same days: GPIX Oct 2023 · NLSI Dec 2025	+82.5%	+17.7%	32.5%	5.0%	−10.2 pts	+4.9 pts

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Alert

About each fund

GPIX

Over the year to Nov 4, 2026, GPIX paid 8.8% of its starting value in cash distributions while its price rose 6.2%. With every distribution reinvested, the fund returned +15.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.4%, paid monthly.

NLSI

Over the period from its first trade on Dec 10, 2025 to Nov 4, 2026, NLSI paid 5.0% of its starting value in cash distributions while its price rose 12.0%. With every distribution reinvested, the fund returned +17.7%. S&P 500 (SPY) returned +12.7% over the same days, so a holder was ahead by 5.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.6%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, GPIX or NLSI?: GPIX charges 0.29% a year and NLSI charges 2.89%, so GPIX is cheaper. Fees come from each fund's prospectus.

Other comparisons

GPIX vs TPRY GPIX vs JULJ GPIX vs JULH GPIX vs SCLZ NLSI vs SPYI NLSI vs ROCY NLSI vs PBP NLSI vs XDTE

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →GPIX on its own →NLSI on its own →GPIX dividend history →GPIX holdings →NLSI dividend history →NLSI holdings →Method →Standards and sources →

Sources and dates

GPIX filings on SEC EDGAR ↗

GPIX prospectus with the expense ratio (SEC) ↗

Goldman Sachs website ↗

NLSI filings on SEC EDGAR ↗

NLSI prospectus with the expense ratio (SEC) ↗

NLSI 19a-1 distribution notice ↗

NEOS page for NLSI ↗

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

How this is computed

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, GPIX against NLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/gpix-vs-nlsi

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