JEPQ vs. GPIQ: Top Investor Selects the Superior High-Yield Dividend ETF to Buy

Dividend ETFs have become a go-to choice for investors seeking dependable income while still maintaining exposure to the stock market’s long-term upside potential. That appeal has grown stronger during periods when economic uncertainty, elevated interest rates, and market volatility make traditional growth investing feel far less predictable. Covered-call ETFs, in particular, have gained popularity because they combine ownership of large-cap stocks with option-income strategies designed to generate sizable distributions throughout the year.

Among the most widely followed funds in that category are the J.P. Morgan Nasdaq Equity Premium Income ETF (JEPQ) and the Goldman Sachs Nasdaq 100 Core Premium Income ETF (GPIQ). Both funds provide exposure to many of the technology sector’s largest companies while paying high yields through monthly distributions.

Yet, top investor Steven Fiorillo, who ranks 6 out of 28,384 financial experts on TipRanks, believes only one currently stands out as attractive enough to buy. Let’s take a closer look.

J.P. Morgan Nasdaq Equity Premium Income ETF (JEPQ)

J.P. Morgan Nasdaq Equity Premium Income ETF (JEPQ) has become one of the most popular covered-call ETFs because it gives investors exposure to Nasdaq-100 companies while generating income through equity-linked notes and option premiums. The ETF carries a 0.35% expense ratio and distributes income on a monthly basis, with the current distribution yield sitting at 10.39%.

The portfolio leans heavily toward large technology companies that dominate the broader Nasdaq index. Its five largest positions currently include Microsoft (MSFT), Nvidia (NVDA), Apple (AAPL), Amazon (AMZN), and Meta Platforms (META). That combination of technology exposure alongside recurring monthly income has helped JEPQ draw substantial interest among investors looking for both cash flow and equity participation.

Still, Fiorillo has become much less enthusiastic about the ETF’s recent performance. The investor argues that competing strategies are delivering stronger results while JEPQ continues falling behind both peers and the Nasdaq itself. Comparing year-to-date returns, Fiorillo points out that GPIQ has outperformed JEPQ through both capital appreciation and income generation. While the investor still believes JEPQ can remain profitable for shareholders, he warned that “the opportunity cost is real and it’s getting hard not to exit the position.” Fiorillo also stated there is “certainly a chance” he downgrades the ETF again later this year if the strategy continues lagging alternative approaches.

Goldman Sachs Nasdaq 100 Core Premium Income ETF (GPIQ)

Goldman Sachs Nasdaq 100 Core Premium Income ETF (GPIQ) has also emerged as one of the stronger alternatives within the covered-call ETF category because it combines Nasdaq-100 exposure with an income-focused options strategy while maintaining strong participation in technology upside. The ETF currently carries a 0.29% expense ratio, which comes in slightly below JEPQ’s fee structure, and it also distributes income monthly, with the trailing distribution yield hovering near 9.55%.

Much like JEPQ, the portfolio remains concentrated in large-cap technology leaders driving market performance. The ETF’s top five holdings currently include Microsoft, Nvidia, Apple, Amazon, and Meta Platforms. However, GPIQ’s recent total-return performance has exceeded several competing income-focused ETFs, helping the fund gain traction among investors seeking a better balance between income generation and share-price appreciation.

Fiorillo remains highly bullish on GPIQ and continues adding to his position as he believes the ETF is built well for the current investing environment. The top investor argues that elevated volatility, uncertain economic conditions, and geopolitical concerns all support stronger option premiums, which directly benefit the fund’s distribution income. Fiorillo said GPIQ “checks off all the boxes,” while adding that the ETF “doesn’t need optimal conditions or a rising market to work.” According to Fiorillo, the combination of exposure to elite technology companies alongside a tax-advantaged double-digit yield makes GPIQ the more compelling opportunity today.