How do the expense ratios of GPIQ and QDVO compare, and what does this difference mean for my returns over time?

GPIQ has an expense ratio of 0.29%, while QDVO's is 0.56%. This means QDVO costs 0.27 percentage points more annually. Over time, higher fees reduce net returns, assuming all other factors remain equal. For every £10,000 invested, this fee difference equates to £27 less in annual returns before any market performance is considered. Lower fees generally improve long-term efficiency, making this a key comparative metric for cost-conscious investors.

What does it mean that both GPIQ and QDVO are classified as 'Derivative Income' ETFs?

Derivative income ETFs use financial instruments like options to generate additional income beyond standard stock dividends. Instead of simply holding stocks, these funds sell options on their underlying holdings, collecting premiums that boost distributions. Both GPIQ and QDVO are actively managed and do not track a specific index, relying instead on manager strategies to balance growth potential with premium income generation. This structure creates unique risk and return profiles compared to traditional index funds.

Why are sector weights listed as 'not available' for both GPIQ and QDVO?

Sector weights are not available for GPIQ and QDVO because they are actively managed funds that use derivatives. Unlike passive index ETFs that mechanically replicate a benchmark's sector allocations, these funds' managers make dynamic decisions about which options to write and which stocks to hold. Consequently, their sector exposure isn't fixed or directly tied to a single index. This lack of transparent sector data means investors cannot easily assess concentration risks at the sector level.

How do the dividend yields of GPIQ and QDVO differ, and are these yields guaranteed?

QDVO offers a dividend yield of 10.43%, which is higher than GPIQ's 9.82%. These yields are based on recent distributions and annualised figures, not fixed contracts. ETF dividends fluctuate based on option premiums collected and underlying stock performance. A higher yield like QDVO's can indicate potentially greater income but may also reflect higher risk or different strategy outcomes. Neither yield is guaranteed, and distribution rates can change quarterly without notice.

How do the net asset sizes of GPIQ and QDVO compare, and why does this matter?

GPIQ has $5.8 billion in net assets, significantly larger than QDVO's $762 million. Larger asset bases generally provide better liquidity, resulting in tighter bid-ask spreads for investors. Conversely, QDVO's smaller size could lead to wider spreads and potentially higher trading costs, especially during volatile market conditions. The substantial difference in scale also suggests GPIQ may have more operational stability, while QDVO remains in an earlier stage of adoption despite its higher yield.

Which investing goal is each fund typically associated with?

GPIQ is typically associated with investors seeking cost-efficient premium income generation, given its lower 0.29% expense ratio and substantial $5.8 billion scale. QDVO is often linked to investors prioritising maximum current income, reflected in its higher 10.43% yield and aggressive option strategy. Both funds target income but differ in execution: one emphasises lower fees and scale, while the other focuses on higher yield potential. Investors should align these characteristics with their personal income needs and cost tolerance.

What risks arise from the extremely short operating histories of both funds?

GPIQ launched in October 2023 and QDVO in August 2024, giving them less than three years of combined history. This limited track record prevents meaningful assessment of how these funds perform across different market cycles, particularly during severe downturns or rising interest rate environments. Without long-term data, it is difficult to gauge the durability of their income strategies or their resilience compared to established ETFs. Investors face uncertainty because these funds haven't been fully stress-tested.

How do the top holdings overlap between GPIQ and QDVO?

GPIQ and QDVO share nine of their top ten holdings: NVDA, AAPL, MSFT, MU, AMZN, GOOGL, META, AVGO, and TSLA. The primary difference is that LLY (Eli Lilly) replaces one position in QDVO's top ten. This significant overlap means both funds are heavily concentrated in large-cap technology and growth stocks. While the underlying equity bases are nearly identical, the key distinction lies in how each fund's managers use these holdings to write options and generate income through derivatives.

What does the lack of a tracked index mean for GPIQ and QDVO?

Both GPIQ and QDVO have no available index tracked, confirming they are actively managed funds. Unlike passive ETFs that replicate a benchmark like the Nasdaq-100 or S&P 500, their managers make discretionary decisions about stock selection and option writing strategies. This means their performance depends heavily on manager skill and strategy execution rather than market beta. Investors cannot predict sector alignment or holdings based on a standard index, requiring trust in the management approach for both income and growth outcomes.

Does a higher expense ratio automatically make QDVO a worse investment than GPIQ?

Not necessarily. While QDVO's 0.56% expense ratio is higher than GPIQ's 0.29%, the fee alone doesn't determine overall value. Investors must weigh this cost against QDVO's higher 10.43% yield and different option strategy. If the additional income generated by the strategy sufficiently exceeds the extra 0.27 percentage points in annual fees, it could still provide superior net outcomes. However, higher costs do create a steeper hurdle for generating consistent positive net returns over time.

Where can I find accurate and up-to-date information on these ETFs?

For accurate information on GPIQ and QDVO, consult their official issuer websites and prospectuses, which detail strategies, risks, and current fee structures. Reputable financial data platforms provide updated net assets, dividend yields, and holdings. Remember that data like yields and asset sizes change frequently. Always verify current figures before making any decisions. The information presented in comparisons like this is for educational context and does not constitute personal financial advice or recommendations.

GPIQ vs QDVO

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

This comparison page examines GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) and QDVO (Amplify CWP Growth & Income ETF). It details how their fees, holdings, dividends and market tracking differ: GPIQ has a 0.29% expense ratio and 9.82% yield; QDVO has 0.56% fees and 10.43% yield. Both are derivative income funds, though neither index tracked data is available. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

GPIQ

Metric

QDVO

0.29%

Expense Ratio

0.56%

9.82%

Dividend Yield

10.43%

$5.84B

Net Assets

$762.45M

107

Holdings

Oct 24, 2023

Inception Date

Aug 22, 2024

–

Index Tracked

–

Derivative Income

Fund Category

Derivative Income

GPIQ costs about $27.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	GPIQ	QDVO
NVDANVIDIA Corporation	8.52%	10.32%
AAPLApple Inc.	7.91%	9.25%
MSFTMicrosoft Corporation	5.80%	5.85%
MUMicron Technology, Inc.	4.84%	4.06%
AMZNAmazon.com, Inc.	4.35%	5.18%
GOOGLAlphabet Inc.	3.90%	8.41%
METAMeta Platforms, Inc.	3.28%	3.73%
AVGOBroadcom Inc.	2.71%	3.39%
TSLATesla, Inc.	2.66%	3.67%

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Investment Analysis

GPIQ

Pros

The fund offers a high dividend yield of 9.82%, appealing to investors seeking significant income generation.
With $5.8 billion in net assets, the fund demonstrates substantial scale, likely contributing to liquidity and operational stability.
Its 0.29% expense ratio represents a relatively low cost structure for an ETF employing derivative strategies to generate income.

Considerations

The inception date in October 2023 means the fund has a very short track record, limiting historical performance assessment.
A lack of specific sector weight data makes detailed concentration risk analysis difficult for potential investors.
The fund is actively managed using derivatives without a clear benchmark index, which may lead to uncertainty for some investors.

QDVO

Pros

The fund provides a high dividend yield of 10.43%, which exceeds the yield offered by the comparable Fund A.
Its holdings in major technology companies like Nvidia and Apple align with broader market growth trends while generating income.
Despite its small size, the $762 million in net assets indicates it has gained a degree of initial adoption.

Considerations

The 0.56% expense ratio is significantly higher than Fund A's, which could reduce net returns for investors.
An inception date of August 2024 means the fund has an extremely limited operating history for performance evaluation.
Moderate asset size may result in wider bid-ask spreads and less favourable liquidity compared to larger ETFs.

About GPIQ and QDVO

GPIQ (GPIQ)

The Goldman Sachs Nasdaq-100 Premium Income ETF is designed for investors interested in exposure to technology and growth sectors while seeking potential income. This fund tracks the Nasdaq-100, a broad index of non-financial companies listed on the Nasdaq Stock Market. The ETF primarily uses a covered call strategy, selling options on a basket of Nasdaq-100 stocks to generate income. While this approach can provide steady distributions, it may limit capital appreciation in periods of strong market growth. Investors should be aware that derivative strategies introduce unique risks, including option volatility. This fund is part of Goldman Sachs Asset Management's broader range of ETFs focused on income generation. It is suitable for those who understand option mechanics and are seeking yield alongside technology sector exposure.

QDVO (QDVO)

The Amplify CWP Growth & Income ETF (QDVO) is an actively managed fund designed for investors seeking high potential income alongside capital growth opportunities. Launched in August 2024, this derivative income strategy employs options selling techniques on a concentrated portfolio of roughly 50 holdings. It targets large, well-known growth stocks, aiming to generate significant distributions by writing call options against its equity positions. With a stated dividend yield of 10.43% and net assets of USD 762 million, it attracts those looking for enhanced cash flow in volatile markets. The fund carries an expense ratio of 0.56%. However, because it relies on option strategies, participation in major market upswings may be limited, and income levels are not guaranteed. As with all investments, values can rise and fall, so understanding the underlying mechanics of covered calls is essential for prospective investors.

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GPIQ vs QDVO

Fund Snapshot