Goldman Sachs Nasdaq-100 ETF outperforms JPMorgan's with cleaner structure and lower fees in 2024

The Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) has outperformed the larger JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) in 2024, returning 17% year-to-date versus 12% for JEPQ. GPIQ achieves this through a direct call-writing strategy on its own equity holdings, avoiding the equity-linked notes used by JEPQ, which introduces counterparty risk. While JEPQ offers higher monthly income distributions, GPIQ provides better total returns and lower fees, making it a preferable choice for investors seeking both income and Nasdaq upside participation. The structural differences highlight the trade-off between immediate income and long-term growth potential in covered-call ETFs.