GPIQ vs. QTOP

Last updated Aug 4, 2026

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both Nasdaq-100 funds. GPIQ is actively managed, while QTOP is passively managed. Over the past year, GPIQ returned 25.84% vs 28.78% for QTOP. Their 0.98 correlation means they have historically moved very closely together. GPIQ charges 0.29%/yr vs 0.20%/yr for QTOP.

Performance

GPIQ vs. QTOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and iShares Nasdaq Top 30 Stocks ETF (QTOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIQ achieves a 13.18% return, which is significantly lower than QTOP's 14.73% return.

GPIQ

• 1D: 1.36%
• 1M: -1.54%
• 6M: 10.62%
• YTD: 13.18%
• 1Y: 25.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.64%

QTOP

• 1D: 2.18%
• 1M: -1.61%
• 6M: 12.36%
• YTD: 14.73%
• 1Y: 28.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	$89.39M	$82.61M	$83.97M
QTOP iShares Nasdaq Top 30 Stocks ETF	$6.54M	$5.91M	$7.12M

GPIQ vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	13.18%	19.77%	4.71%
QTOP iShares Nasdaq Top 30 Stocks ETF	14.73%	22.19%	6.25%

Correlation

The correlation between GPIQ and QTOP is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.98

The correlation between GPIQ and QTOP has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

GPIQ vs. QTOP - Sectors Allocation Comparison

Sectors	GPIQ	QTOP
Technology	60.7%	67.0%
Communication Services	11.8%	15.2%
Consumer Cyclical	10.1%	9.1%
Consumer Defensive	6.4%	7.2%
Industrials	4.2%	0.9%
Healthcare	3.7%	2.9%
Utilities	1.4%	-
Basic Materials	1.1%	1.5%
Energy	0.5%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

GPIQ vs. QTOP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GPIQ

GPIQ Risk / Return Rank: 69
GPIQ Sharpe Ratio Rank: 66
GPIQ Sortino Ratio Rank: 64
GPIQ Omega Ratio Rank: 64
GPIQ Calmar Ratio Rank: 76
GPIQ Martin Ratio Rank: 76

QTOP

QTOP Risk / Return Rank: 56
QTOP Sharpe Ratio Rank: 55
QTOP Sortino Ratio Rank: 53
QTOP Omega Ratio Rank: 52
QTOP Calmar Ratio Rank: 62
QTOP Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GPIQ vs. QTOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and iShares Nasdaq Top 30 Stocks ETF (QTOP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GPIQ	QTOP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.35	+0.21
Sortino ratio: Return per unit of downside risk	2.15	1.89	+0.26
Omega ratio: Gain probability vs. loss probability	1.28	1.24	+0.04
Calmar ratio: Return relative to maximum drawdown	2.73	2.22	+0.51
Martin ratio: Return relative to average drawdown	9.62	6.87	+2.75

GPIQ vs. QTOP - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 1.56, which is comparable to the QTOP Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of GPIQ and QTOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GPIQ vs. QTOP - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum QTOP drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for GPIQ and QTOP.

Drawdown Indicators

	GPIQ	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-23.28%	+2.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-13.02%	+3.51%
Current Drawdown Current decline from peak	-4.62%	-6.70%	+2.08%
Average Drawdown Average peak-to-trough decline	-2.34%	-3.93%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	4.20%	-1.51%

Volatility

GPIQ vs. QTOP - Volatility Comparison

The current volatility for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) is 6.41%, while iShares Nasdaq Top 30 Stocks ETF (QTOP) has a volatility of 8.45%. This indicates that GPIQ experiences smaller price fluctuations and is considered to be less risky than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIQ	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	8.45%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	18.07%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	21.41%	-4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	23.81%	-5.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	23.81%	-5.75%

GPIQ vs. QTOP - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is higher than QTOP's 0.20% expense ratio.

Dividends

GPIQ vs. QTOP - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 10.15%, more than QTOP's 0.34% yield.

Position	TTM	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	10.15%	9.81%	9.18%	1.74%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.34%	0.38%	0.11%	0.00%

Frequently Asked Questions

Can I hold both GPIQ and QTOP in my portfolio?

With a correlation of 0.98, GPIQ and QTOP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GPIQ or QTOP?

QTOP has higher volatility (8.45%) compared to GPIQ (6.41%). In terms of maximum drawdown, GPIQ dropped -21.06% vs QTOP's -23.28%.

Which ETF is better, GPIQ or QTOP?

On 1-year performance, QTOP leads with 28.78% vs 25.84% for GPIQ. On fees, QTOP is cheaper at 0.20% per year. On volatility, GPIQ has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIQ or QTOP?

Over the 1-year period, QTOP has performed better with a 28.78% return vs 25.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIQ or QTOP?

QTOP is cheaper with a 0.20% expense ratio, compared with 0.29% for GPIQ.

Which ETF pays a higher dividend yield, GPIQ or QTOP?

GPIQ has the higher dividend yield at 10.15%, compared with 0.34% for QTOP.

What is the main difference between GPIQ and QTOP?

They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIQ and 0.20% for QTOP.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (1.56 vs 1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.