QQA vs. GPIQ

Last updated Jun 3, 2026

QQA (Invesco QQQ Income Advantage ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - QQA is a Derivative Income fund actively managed by Invesco, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, QQA returned 33.20% vs 38.62% for GPIQ. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.29% expense ratio.

Performance

QQA vs. GPIQ - Performance Comparison

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

Returns By Period

In the year-to-date period, QQA achieves a 14.68% return, which is significantly lower than GPIQ's 18.52% return.

QQA

• 1D: 0.33%
• 1M: 7.02%
• YTD: 14.68%
• 6M: 14.53%
• 1Y: 33.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GPIQ

• 1D: 0.39%
• 1M: 8.59%
• YTD: 18.52%
• 6M: 18.10%
• 1Y: 38.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQA vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQA Invesco QQQ Income Advantage ETF	14.68%	17.24%	7.11%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.52%	19.77%	7.24%

Correlation

The correlation between QQA and GPIQ is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.94

The correlation between QQA and GPIQ has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

QQA vs. GPIQ - Sectors Allocation Comparison

Sectors	QQA	GPIQ
Technology	53.8%	53.8%
Communication Services	15.8%	15.8%
Consumer Cyclical	12.3%	12.3%
Consumer Defensive	7.7%	7.7%
Healthcare	4.2%	4.2%
Industrials	2.8%	2.9%
Utilities	1.4%	1.4%
Basic Materials	1.1%	1.1%
Energy	0.6%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QQA vs. GPIQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQA

QQA Risk / Return Rank: 80
QQA Sharpe Ratio Rank: 81
QQA Sortino Ratio Rank: 78
QQA Omega Ratio Rank: 79
QQA Calmar Ratio Rank: 76
QQA Martin Ratio Rank: 84

GPIQ

GPIQ Risk / Return Rank: 84
GPIQ Sharpe Ratio Rank: 86
GPIQ Sortino Ratio Rank: 84
GPIQ Omega Ratio Rank: 84
GPIQ Calmar Ratio Rank: 80
GPIQ Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QQA vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Income Advantage ETF (QQA) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). 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.

	QQA	GPIQ	Difference
Sharpe ratio Return per unit of total volatility	2.65	2.90	-0.25
Sortino ratio Return per unit of downside risk	3.56	3.81	-0.25
Omega ratio Gain probability vs. loss probability	1.48	1.52	-0.04
Calmar ratio Return relative to maximum drawdown	3.91	4.15	-0.25
Martin ratio Return relative to average drawdown	17.57	18.37	-0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQA vs. GPIQ - Sharpe Ratio Comparison

The current QQA Sharpe Ratio is 2.65, which is comparable to the GPIQ Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of QQA and GPIQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQA	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.90	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	1.79	-0.61

Drawdowns

QQA vs. GPIQ - Drawdown Comparison

The maximum QQA drawdown since its inception was -19.73%, smaller than the maximum GPIQ drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for QQA and GPIQ.

Drawdown Indicators

	QQA	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-21.06%	+1.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-9.51%	+0.75%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.45%	-2.27%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.15%	-0.20%

Volatility

QQA vs. GPIQ - Volatility Comparison

The current volatility for Invesco QQQ Income Advantage ETF (QQA) is 2.91%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 3.38%. This indicates that QQA experiences smaller price fluctuations and is considered to be less risky than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQA	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	3.38%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	10.45%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	13.40%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	17.48%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	17.48%	+0.81%

QQA vs. GPIQ - Expense Ratio Comparison

Both QQA and GPIQ have an expense ratio of 0.29%.

Dividends

QQA vs. GPIQ - Dividend Comparison

QQA's dividend yield for the trailing twelve months is around 9.28%, which matches GPIQ's 9.31% yield.

Position	TTM	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.31%	9.81%	9.18%	1.74%
QQA Invesco QQQ Income Advantage ETF	9.28%	9.78%	4.29%	0.00%

Frequently Asked Questions

Can I hold both QQA and GPIQ in my portfolio?

With a correlation of 0.97, QQA and GPIQ 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, QQA or GPIQ?

GPIQ has higher volatility (3.38%) compared to QQA (2.91%). In terms of maximum drawdown, QQA dropped -19.73% vs GPIQ's -21.06%.

Which ETF is better, QQA or GPIQ?

On 1-year performance, GPIQ leads with 38.62% vs 33.20% for QQA. Both ETFs have the same 0.29% expense ratio. On volatility, QQA has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQA or GPIQ?

Over the 1-year period, GPIQ has performed better with a 38.62% return vs 33.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQA or GPIQ?

QQA and GPIQ have the same expense ratio: 0.29% per year.

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

GPIQ has the higher dividend yield at 9.31%, compared with 9.28% for QQA.

What is the main difference between QQA and GPIQ?

QQA is categorized as Derivative Income, while GPIQ is Nasdaq-100. They also come from different issuers: Invesco and Goldman Sachs.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.90 vs 2.65), 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.