Goldman Sachs' GPIX Surpasses JEPI by Nearly Ten Percentage Points

The JPMorgan Equity Premium Income ETF (JEPI) has been a go-to investment for those seeking equity exposure and regular income. However, a newer competitor from Goldman Sachs, the Goldman Sachs S&P 500 Premium Income ETF (GPIX), is gaining attention with its competitive fee structure and higher yields.

GPIX offers an S&P 500 portfolio with direct short-dated call options on the index, covering approximately 25% to 75% of the notional value. This approach allows for more exposure to the mega-cap leaders that drove the S&P 500's gains, while sacrificing less upside than JEPI's ELN-wrapped defensive basket.

In terms of fees and yields, GPIX charges a net expense ratio of 0.29%, six basis points lower than JEPI's 0.35%. The distribution side also favors GPIX, with a forward annualized dividend of $4.72428 against a price of $55.38, implying a yield near 8.53%.

Over the past year, GPIX has posted an adjusted return of 19.44%, significantly outperforming JEPI's 10.17%. On a matched twelve-month window ending July 31, 2026, GPIX returned 21.13% versus JEPI's 11.18%, a gap of nearly ten percentage points.