Two of the market's most popular income ETFs compared side-by-side. See which one fits your yield strategy.
What this means: Both GPIQ and JEPQ fall intoTier 4: Harvest. This suggests they share a similar risk profile and volatility expectation.
| Metric | GPIQ | JEPQ |
|---|---|---|
| Total Return (1Y) | 20.05% | 16.54% |
| NAV Change (1Y) | 9.22% | 6.84% |
| Max Drawdown | -27.76% | -23.48% |
| Beta | - | 0.85 |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income) and JEPQ (JPMorgan Nasdaq Equity Premium Income) are the high-octane siblings of the covered call ETF world — both targeting the same Nasdaq-100 index, both paying monthly distributions around 10%, and both rated Tier 4 (Volatility Harvest/High) on DivAgent's risk spectrum. The comparison mirrors GPIX vs JEPI but with higher stakes: the Nasdaq-100's tech concentration amplifies both the income opportunity and the downside risk.
GPIQ currently yields approximately 10.2% at $51.57 per share; JEPQ yields approximately 10.7% at $57.58. The 50-basis-point gap slightly favors JEPQ, but both distributions fluctuate with options premium — which spikes in volatile markets and compresses in calm trending markets. Neither ETF offers a guaranteed fixed distribution. Investors modeling income should plan for distribution variability of 25-40% from month to month in different volatility regimes.
GPIQ writes listed Nasdaq-100 index options with exchange-cleared settlement — no single counterparty owns the income stream. JEPQ uses equity-linked notes structured by JPMorgan, introducing counterparty exposure to JPMorgan Chase. This is the same structural distinction as GPIX versus JEPI: listed options offer transparency, ELNs offer engineering flexibility. For most investors, JPMorgan's credit quality makes the counterparty risk theoretical. But investors who prefer structural transparency should give GPIQ the edge on this dimension.
JEPQ launched in May 2022 and has grown to $20B+ in assets, backed by JPMorgan's massive advisor distribution network and the halo effect of JEPI's earlier success. GPIQ is the newer entrant from Goldman Sachs with a smaller but growing asset base. JEPQ's larger AUM translates to better secondary market liquidity and a longer real-world performance record across different market environments — a meaningful advantage for risk-conscious income investors who want to see how a strategy behaves under stress before committing capital.
Choose GPIQ if:
Choose JEPQ if:
Every investor has a unique risk profile. Use our Portfolio Intelligence tool to see the impact of adding these ETFs to your holdings.