GPIQ Dividend Calculator
Get monthly income and growth potential with Goldman Sachs Nasdaq-100 Premium Income ETF π
GPIQ ETF is a premium income ETF offered by Goldman Sachs that invests in Nasdaq-100 index stocks while using a covered call options strategy to provide high monthly dividend income.
Use our dividend calculator to forecast your future dividend income and develop your investment strategy.
- - Current Price: $47.80 (as of May 16, 2025)
- - 12-month trailing dividend yield: approximately 10.6%
- - Total assets under management: approximately $600 million
- - Expense ratio: 0.35%
- - Inception date: October 24, 2023
π‘ Note: GPIQ pays dividends monthly, providing a high dividend yield of approximately 10.6% through option premiums and stock dividends. It uses a dynamic covered call strategy, writing call options on 25%-75% of the portfolio based on market conditions.
GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) is a popular ETF among income-focused investors. It holds Nasdaq-100 index stocks and uses an options strategy to generate stable monthly dividend income.
GPIQ Fund Analysis
Check detailed information about GPIQ's complete dividend history and performance trends. Successful dividend investing starts with accurate information.
GPIQ Portfolio Analysis
Check holdings, sector allocation, and financial metrics
GPIQ Dividend History & Returns
Analyze complete dividend records, monthly payments, and return trends
GPIQ Investment Tips
On the dividend information page, you can check GPIQ's complete dividend history, payment trends, and real-time yields. The monthly dividend calendar helps you track upcoming ex-dividend and payment dates for better cash flow management. GPIQ employs Goldman Sachs' dynamic covered call strategy that flexibly uses options based on market conditions to pursue both income and growth potential.
1. What is GPIQ ETF?
GPIQ is a premium income ETF launched by Goldman Sachs in October 2023 that invests in companies included in the Nasdaq-100 index while utilizing a dynamic covered call options strategy to generate high monthly dividend income. This ETF aims to provide investors with both the growth potential of tech stocks and stable monthly dividends.
Key Features
2. Understanding GPIQ's Investment Strategy
2-1. Portfolio Composition
GPIQ primarily invests in stocks of companies included in the Nasdaq-100 index. These include major U.S. tech companies like Apple, Microsoft, Nvidia, Amazon, and others. The fund then applies an options strategy to this equity portfolio to generate additional income.
Top Holdings (Major Portfolio Weightings) - As of May 2025
| Ticker | Company Name | Weight (%) | Sector |
|---|---|---|---|
| AAPL | Apple | 8.9% | Information Technology |
| MSFT | Microsoft | 8.5% | Information Technology |
| NVDA | NVIDIA | 7.2% | Information Technology |
| AMZN | Amazon.com | 6.5% | Consumer Discretionary |
| META | Meta Platforms | 5.2% | Communication Services |
| GOOGL | Alphabet Class A | 4.1% | Communication Services |
| GOOG | Alphabet Class C | 3.8% | Communication Services |
Sector Allocation (As of May 2025)
48.5%
17.6%
14.8%
6.2%
4.3%
4.1%
2.8%
1.7%
Portfolio following the Nasdaq-100 index composition
2-2. Dynamic Covered Call Strategy
How GPIQ's Option Strategy Works
Core Portfolio Construction: Hold stocks from the Nasdaq-100 index
Call Option Writing: Sell call options on 25%-75% of the portfolio
Premium Collection: Collect option premiums to generate additional income
Monthly Distribution: Distribute premium income and stock dividends monthly to investors
Dynamic Adjustment: Adjust option writing ratio (25%-75%) based on market conditions
3. GPIQ Dividend Characteristics
GPIQ's most notable characteristic is its high monthly dividend. Unlike typical dividend ETFs that pay quarterly, GPIQ provides a stable monthly cash flow, making it particularly attractive to investors who need regular income.
GPIQ's Dividend Income Features
Monthly Dividend ETF Comparison
Source: Official ETF data (As of May 2025)
GPIQ Monthly Dividend Trends
GPIQ's 2025 monthly dividend trends:
| Payment Month | Dividend per Share ($) | Change from Previous (%) | Annualized Yield (%) |
|---|---|---|---|
| January 2025 | $0.362 | +2.5% | 9.5% |
| February 2025 | $0.368 | +1.7% | 9.8% |
| March 2025 | $0.378 | +2.7% | 10.1% |
| April 2025 | $0.386 | +2.1% | 10.3% |
| May 2025 | $0.390 | +1.0% | 10.6% |
| 5-Month Average | $0.377 | +2.0% | 10.1% |
* Annualized yield is calculated by annualizing the monthly dividend and dividing by the ETF price at that time.
* Based on Goldman Sachs official data (As of May 2025)
Advantages of GPIQ's Monthly Dividends
- β’ Provides regular cash flow with monthly dividend payments
- β’ High yield (approximately 10.6%) through option premiums
- β’ Dynamic option strategy adjusted to market conditions
- β’ Only partially covered with options, allowing participation in market upside
4. Considerations When Investing in GPIQ
Advantages
- βHigh dividend yield (approximately 10.6%)
- βStable monthly dividend payments
- βDynamic option strategy flexibly adapts to market conditions
- βInvestment in high-growth Nasdaq-100 companies
- βProfessional management by Goldman Sachs
Disadvantages
- β’Potential upside limitations in strong bull markets
- β’Complex tax treatment due to options strategy
- β’Relatively high expense ratio (0.35%)
- β’Short operating history requiring longer-term performance validation
- β’Sector concentration risk due to tech focus
5. GPIQ Performance Analysis
Performance Since Inception
GPIQ is a relatively new ETF launched in October 2023, so long-term performance data is limited:
| Period | Total Return (%) | Dividend Yield (%) | Nasdaq-100 Return (%) |
|---|---|---|---|
| 2024 Q1 | 6.8% | 2.6% | 9.5% |
| 2024 Q2 | 4.2% | 2.7% | 5.8% |
| 2024 Q3 | -2.3% | 2.5% | -5.6% |
| 2024 Q4 | 8.5% | 2.5% | 12.3% |
| 2025 YTD | -0.1% | 4.2% | 3.1% |
| Since Inception | 22.4% | 15.8% | 28.6% |
Source: Goldman Sachs official data (As of May 15, 2025)
GPIQ Performance Analysis by Market Conditions
Despite its short operating history, GPIQ has shown characteristic performance in different market conditions:
Defensive in Down Markets
In Q3 2024, when the Nasdaq-100 fell 5.6%, GPIQ only declined by 2.3%, demonstrating excellent defensive capabilities. Option premium income acts as a cushion during market downturns.
Strength in Sideways Markets
When markets move sideways without clear direction, GPIQ generates steady income through option premiums. In such environments, it can outperform standard index ETFs.
Limited in Strong Bull Markets
In Q4 2024, when the Nasdaq-100 rose 12.3%, GPIQ gained 8.5%. This shows that in strongly rising markets, the options strategy may limit some upside potential.
Key Insights
- GPIQ uses a dynamic options strategy adjusting between 25%-75% to flexibly respond to market conditions
- Relatively strong performance in down and sideways markets, with some limitations in strong bull markets
- Monthly dividends are relatively stable with a slight upward trend
- Dividend yield has consistently maintained around 10% since inception
6. GPIQ's Distinctive Features
GPIQ's Unique Investment Philosophy
π― Dynamic Covered Call Strategy
Flexible Option Ratio
Adjusts call option writing percentage flexibly between 25%-75% of the portfolio
Customized Option Contracts
Uses FLEX options to optimize strike prices, expiration dates, and other terms
Market-Responsive Strategy
Adjusts option strategy based on market conditions to balance downside protection and upside participation
π Benefits of High-Yield Monthly Dividends
- β’ Stable Cash Flow: Monthly regular dividends for easier cash management
- β’ High Yield: Approximately 10.6% annualized dividend yield
- β’ Power of Compounding: Monthly dividend reinvestment maximizes compounding effects
- β’ Income Planning: Ideal cash flow for retirees and income-focused investors
π Quality Tech Portfolio
- β’ Nasdaq-100 Exposure: Investment in leading U.S. innovation companies
- β’ Growth-Focused: Includes Apple, Microsoft, NVIDIA, and other growth stocks
- β’ Innovation Access: Exposure to future technology trends like AI and cloud
- β’ Proven Companies: Focus on financially stable large-cap technology firms
π GPIQ vs Similar Option ETFs
QYLD
Fixed 100% covered calls
Strong downside protection but limited upside
GPIQ
Dynamic 25-75% covered calls
Balance of protection and growth potential
JEPQ
ELN-based OTM option mix
Low volatility with some upside participation
7. Frequently Asked Questions
What's the difference between GPIQ and QYLD?
Both ETFs use options strategies to generate high dividends, but with key differences. QYLD writes ATM (at-the-money) call options on 100% of its portfolio using a fixed approach. In contrast, GPIQ uses a dynamic approach, adjusting its call option writing between 25%-75% of the portfolio based on market conditions. This means QYLD may provide stronger downside protection in declining markets, but more limited upside participation in rising markets. GPIQ, with options on only part of its portfolio, may allow for more upside participation in bull markets.
Is GPIQ's high dividend sustainable?
GPIQ's high dividend yield (approximately 10.6%) is primarily based on income generated from option premiums, which differs from traditional dividends. This option-based income has different characteristics - it may increase during periods of high market volatility when option premiums are higher, and decrease during low volatility periods. Additionally, a portion of the distributions may be classified as return of capital, which differs from traditional dividend ETFs in terms of long-term sustainability. However, Goldman Sachs' professional management and dynamic strategy adjustments aim to maintain relatively stable monthly dividends.
How are GPIQ's dividends taxed?
Dividends from option strategy ETFs like GPIQ can be classified into various tax categories. Some portions may be qualified dividends, some non-qualified dividends, and some return of capital. Return of capital is not immediately taxed but reduces your cost basis, affecting capital gains tax when you eventually sell the shares. Income from options strategies is mostly treated as non-qualified dividend income and taxed at ordinary income rates. The exact tax treatment is detailed in the annual Form 1099-DIV issued by the ETF. Due to this complexity, consultation with a tax professional is recommended.
Which investors is GPIQ most suitable for?
GPIQ is particularly suitable for these types of investors: β Income-focused investors: Retirees or income-oriented investors needing high regular income, β‘ Monthly cash flow seekers: Investors needing monthly cash flow for living expenses, rent, etc., β’ Tech sector exposure seekers: Investors wanting high dividends while maintaining exposure to tech companies, β£ Volatility management investors: Those looking to partially manage volatility through options strategies. Conversely, other ETFs might be more suitable for investors primarily seeking maximum long-term capital growth, tax efficiency, aggressive bull market participation, or those preferring simpler investment strategies.
What's the optimal strategy when investing in GPIQ?
The key to GPIQ investing lies in utilizing its monthly high-dividend income: β Income utilization: Use as a monthly income source for regular expenses or other spending, β‘ Hybrid portfolio: Allocate a portion (e.g., 20-30%) of your portfolio to high-dividend ETFs like GPIQ and the rest to growth-oriented assets, β’ Dividend reinvestment: If current income is not needed, reinvest monthly dividends to maximize compounding effects, β£ Tax-efficient accounts: When possible, hold in tax-advantaged accounts like IRAs or 401(k)s to optimize dividend tax effects, β€ Market correction opportunity: Consider purchasing during market corrections to benefit from both higher dividend yields and potential price recovery.
8. Conclusion and Investment Strategy
Who is GPIQ suitable for?
Suitable investor types:
- Retirees and income-oriented investors needing monthly regular income
- Investors wanting high yields while maintaining exposure to the tech sector
- Investors seeking to partially mitigate stock market volatility
- Investors wanting to leverage Goldman Sachs' professional options management
- Investors seeking balance between stock appreciation potential and income generation
Investor types who should be cautious:
- Investors primarily pursuing long-term capital growth maximization
- Tax-sensitive investors in taxable accounts
- Investors wanting maximum participation in bull markets
- Conservative investors who prefer ETFs with longer track records
- Investors who prefer simple investment strategies without options complexity
Effective GPIQ utilization strategies:
- Income generation portfolio: Use as a core asset in portfolios needing monthly cash flow
- Diversified portfolio: Allocate 20-30% of total portfolio to high-dividend ETFs for income and growth balance
- Market cycle response: Leverage defensive characteristics in bear and sideways markets
- Income reinvestment: Maximize compounding effects by reinvesting monthly dividends if direct income is not needed
- Tax optimization: When possible, hold in retirement or tax-advantaged accounts to optimize tax efficiency