I noticed the same performance and for my brokerage account i now use GPIX and GPIQ as my call income ETFs where I have 'growth' ETFs like XLK, VFLO, SCHG & SCHD and dividend paying stocks. I have JEPQ, SVOL, PBDC, SPYI and QQQI in my largest Roth IRA which I use to withdraw monthly tax free income for retirement. So far so good!
Great to see you as always! For me, I’ve tracked JEPI very closely for a while, and I feel that JEPI should be compared to the Dow in terms of performance, due to its constitution (value focus). I like the balance SPYI brings…and at the end of the day, trust Garret and NEOS.
Thanks! I agree, JEPI is quite a different animal and needs to be seen in the context of its value focus. A lot of people forget how well it held up in 2022.
FYI- If you go to the PDFs in the document section of their site, most of their distributions appear to be between 60-95% RoC, NOT ordinary income. So I do not think we know yet about it's tax efficiency. ISPY, FEPI, etc. also show a lot of ROC.
We must be looking at different pdf's. Here's the June pdf from the GS website that I was referring to (showing 100% ordinary income): www.gsam.com/content/dam/gsam/pdfs/us/en/fund-resources/monthly-highlights/Monthly_ETF_Distribution_Schedule.pdf?sa=n&rd=n
@@armchairincomechannel Not sure how to link as they want you to download the PDFs, but on the GPIX site, under the Resources tab, there are a bunch of files with "SEC19" followed by month/year in there. Each one looks similar to a 19a1 notice. Which while I understand is only a estimate, shows the breakdown between RoC and ordinary income.
Yes. SPYI has that advantage and GPIX doesn't. My apologies but I can't give tax advice regarding account types, I can only share what the funds communicate about their respective tax treatments.
Great points about smoothing out your returns with the various funds. Also, the timing of the dividends is different, so you get to see cash hitting your account many days a month, and you have an incentive to buy more shares on not all the same day. I have all the names in this video. Thanks.
QDPL is still the winner out of all these as far as price return and total return it’s actually beating the sp500 total return since inception according to Seeking Alpha
Another great video ! Interesting to hear about theses new funds as I don’t know them very well yet! I like my Sunday’s dose of armchair Income !! Good job ! 💪💪👌👌
Excellent video as always! Another ETF ISPY (not SPYI) which started Dec. 20, 2023 so far has higher returns than GPIX & SPYI. Yield for ISPY based on 5 distributions so far is 9.9% Putting it in the middle of the other 2 ETFs. Maybe ISPY is the best of both worlds: distributions & CG. I look forward to a future comparison of these 3 ETFs. I understand not including ISPY now since it is newer.
I like the GPIX strategy and will be watching this one. The newness alone wouldn't stop me from investing at least a small amount, but right now, I've got sufficient index and index options coverage, though I'm not averse to adjusting. It's on my watch list.
Great informative video thanks! I'd still be hard pressed to move funds out of SPYI to a different S&P 500 CC ETF, but I'll watching this ETF with interest nevertheless.
Great video, didn't know about GPIX', wish it was tax efficient. I am pretty deep into SPYI and QQQI. GPIX may fill the bill as you stated for diversification in different bull or bearish markets.
Isn’t selling ATM calls the same reason that XYLD has had the mediocre record it has? It seems like this fund is benefiting a lot from the timing of its launch.
I think XYLD is covered at 100% ATM vs lower % on his competitors. That leaves more room for price appreciation if the fund manager use lower coverage % in a tactical way along the market cycle
Exactly why I sold out of it. For me, a covered call fund should be able to catch some appreciation, and that is why I like SPYI. Indeed, in a bear market, it seems to me that ATM CC funds have a hard time trying to recoup their NAV share price because of this dynamic.
@@SummitMan165 But XYLD has a yield of like 9%. How can this fund write calls on a substantially lower percentage of its portfolio and still be a "high-yield" fund?
If they sold ATM calls on 100% of the portfolio then yes, it would clone XYLD and I wouldn't be interested because there'd be no room for appreciation. Given that they can sell options on as little as 25% of the portfolio, there is room for appreciation.
Question - are you rolling over your income for compounding, or are you taking all your income and withdrawing it? Or possibly just withdrawing the income that you need and allowing the additional left over to compound?
In round numbers, my portfolio is yielding 11%. I'm withdrawing about 8% and re-investing about 3% to compound. Some of the stocks/funds have increased their dividends (eg. HESM, MAIN) which also helps compounding.
I wouldn't say anything of them are "better". It's too early to tell. QQQI and SPYI are identical except that they track different indexes, so it depends which index you want to follow. SPYI is a lower yield but also less volatile. FEPI is a much higher yield but also far more volatile.
I wonder IF we'll soon have an EFT glut......there's one coming out just about every second week.........on another note, Great Video once again........oh, and the music 🎶 theme of course 😊
You are the best source of the information I am looking for anywhere on the net. Regarding your Armchair Income Portfolio email; Thank you for it, can you add a column that states if the investment issues a K1 or not? Thanks
Thanks for your feedback, I'm glad that the information is helpful! Regarding K-1's...I do not have any investments in my portfolio that issue K-1's, nor have I in the past. I don't have any plans in the near term to add any. If I do, I'll be sure to indicate clearly that they issue a K-1.
It's early days for XDTE, but you're right, it is off to a great start. I'm impressed with its ability to bounce back from the August 5th selloff. One to keep an eye on. Thanks for the feedback.
QQQI works for me but that doesn't mean everybody should invest in it. Each person has different needs based on their tax situation, income, existing portfolio, and approach to risk. I can't tell you what to buy or not buy. Thanks for watching and I hope the information helps you decide what works for you.
Peope have been saying otm has more up side potential than atm, like how muh more? Do u know ? I sold all my gpiq and jump over jepq. Because qyld is atm and it had very bad performance so far.
The exact amount depends on several factors including how far out of the money and the level of volatility. All other things being equal, OTM is better than ATM. What complicated GPIX is that, unlike XYLD, options are not sold on 100% of the portfolio. Let's say options are sold on 50% of the portfolio...there's no upside for that 50% but there is income. However, on the other 50%, there's unlimited upside. To summarize, I don't like ATM if its on 100% of the portfolio or close to 100%.
That's a good point. BALI's total returns so far have been excellent. The payouts vary quite a lot and the yield has been a little lower than I like but the appreciation has been very impressive. It's definitely on my radar. Thanks for mentioning it.
The only problem I see with GPIX is it has extremely low liquidity and at times a very large spread Unlike JEPI. SPYI is a bit better in terms of liquidity. Is this just the byproduct of the strategy?
I haven't purchased GPIX but I looked and saw liquidity varies a lot by day. If you want to buy it you could use limit orders. There are plenty of days where liquidity is high. Also, with GS behind it I'm sure it will grow fairly quickly in AUM. I like SPYI too.
@@armchairincomechannel I started moving some money into GPIX today, the low liquidity must’ve been because people are sitting on the sidelines because this is a very volatile week and most are waiting to see what happens. I also own SPYI and it held up very well this past week with its low bata. I love pull backs because I keep a large cash position to bulk up when needed. I also like the fact it’s backed behind Goldmen and the managers have $1 million each in these funds of their own money.
i'm more concerned with how these will perform in a recession and since one is right around the corner i'll wait until it's over to buy when stocks and etf's are back at lows. i'm mostly cash, commodities and metals right now. i have no plans to lose half my wealth just to collect dividends on the way down.
My worst investment decision (greatest loss) was when I went to cash in 2020 for a few months. Buying back in when the market was higher was stressful.
Thanks for sharing your strategy. Its important to consider how these investments will fare during a recession. Many of them have a history that extends back beyond the 2008 Global Financial Crisis. BDCs like MAIN didn't blink in regards to their distributions. The price fell and then recovered but the income was solid. A recession is always on the horizon but I don't expect one as bad as 2008.
We won't know the true nature of GPIX's tax treatment until the end of year financial statements but I haven't seen anything in their materials that suggests tax efficiency. They refer to "ordinary income and capital gains" but have only reported ordinary income so far.
That's yet to be seen, but I think GPIX and GPIQ will recover faster than the others after a bear market has ended. They seem to be tracking the underlying indexes more closely.
It depends on how the portfolio managers adjust the Overwrite Level in response to a correction. If they time it right, they'll have less exposure during a bear market and more exposure during the recovery phase. That's not easy to do. It has the potential to recover faster because the Overwrite Level can drop as low as 25%. We won't know the actual performance until it actually happens.
I'm sorry that you've changed the format so that you look like a clownish figure on your posts. I suppose you'll get more clicks and money, but is it worth it? I liked the serious format much better.
I don't see that at all? He has some of the most straightforward videos of any income investor on RUclips and none of his titles are clickbait. Where is the clowning? Are you talking about the green screen background? I don't see how that has much to do with anything either?
Snowball Dividend Tracker (Create a Free Account, and the 10% Discount will appear under "Subscribe"):
armchairincome.link/snow
I noticed the same performance and for my brokerage account i now use GPIX and GPIQ as my call income ETFs where I have 'growth' ETFs like XLK, VFLO, SCHG & SCHD and dividend paying stocks. I have JEPQ, SVOL, PBDC, SPYI and QQQI in my largest Roth IRA which I use to withdraw monthly tax free income for retirement. So far so good!
That sounds like a nice blend of growth and income, thanks for sharing!
GPIX ranked number 1 on my Income ETF Power Rankings! I want to hear the full version of this theme song!
It's quite a toe tapper...I just haven't figured out how to share the full song in a way that makes sense for a channel about investing!
Great to see you as always!
For me, I’ve tracked JEPI very closely for a while, and I feel that JEPI should be compared to the Dow in terms of performance, due to its constitution (value focus).
I like the balance SPYI brings…and at the end of the day, trust Garret and NEOS.
Thanks! I agree, JEPI is quite a different animal and needs to be seen in the context of its value focus. A lot of people forget how well it held up in 2022.
I have JEPQ(NASDAQ CC income), SPTM(S&P 1500 Broad market), and I have been contemplating adding GPIX to the mix.
I'm not familiar with SPTM, thanks for sharing.
FYI- If you go to the PDFs in the document section of their site, most of their distributions appear to be between 60-95% RoC, NOT ordinary income. So I do not think we know yet about it's tax efficiency. ISPY, FEPI, etc. also show a lot of ROC.
We must be looking at different pdf's. Here's the June pdf from the GS website that I was referring to (showing 100% ordinary income): www.gsam.com/content/dam/gsam/pdfs/us/en/fund-resources/monthly-highlights/Monthly_ETF_Distribution_Schedule.pdf?sa=n&rd=n
@@armchairincomechannel Not sure how to link as they want you to download the PDFs, but on the GPIX site, under the Resources tab, there are a bunch of files with "SEC19" followed by month/year in there. Each one looks similar to a 19a1 notice. Which while I understand is only a estimate, shows the breakdown between RoC and ordinary income.
Gotcha. Looks like we'll have to wait until the end of the year to get a definitive answer given the conflicting data...
Would you still be able to retire 2017 without high yield?
If I was using a different strategy (eg. 4% rule) then I would have waited longer to retire.
Thanks to your video, we evaluated and are opening a position in GPIX as well. Thanks for the great content!!
My pleasure!
9:43 are you talking about 60 40 contracts ? Would there be any tax benefits in a retirement account?
Yes. SPYI has that advantage and GPIX doesn't. My apologies but I can't give tax advice regarding account types, I can only share what the funds communicate about their respective tax treatments.
@@armchairincomechannel i meant holding spyi in a tax deferred account would eliminate the 60 40 contract tax benefit right
Great points about smoothing out your returns with the various funds. Also, the timing of the dividends is different, so you get to see cash hitting your account many days a month, and you have an incentive to buy more shares on not all the same day. I have all the names in this video. Thanks.
I didn't think about the payout dates, that's a good point. I like receiving payments often too!
I switched my jepi to gpix pretty early on , pretty happy with how its done.
This bull market suits GPIX quite well!
QDPL is still the winner out of all these as far as price return and total return it’s actually beating the sp500 total return since inception according to Seeking Alpha
Yes, it's the quiet achiever.
Another great video ! Interesting to hear about theses new funds as I don’t know them very well yet! I like my Sunday’s dose of armchair Income !! Good job ! 💪💪👌👌
Glad you find these videos useful :)
Thanks for sending your July update to your holdings
I now look forward to these arriving!!
Regards
Glad you like them!
Always waiting your video... Perhaps can you include ISPY for the comparison?
Thank you
Thanks for the suggestion. ISPY is on my radar.
Excellent video as always! Another ETF ISPY (not SPYI) which started Dec. 20, 2023 so far has higher returns than GPIX & SPYI. Yield for ISPY based on 5 distributions so far is 9.9% Putting it in the middle of the other 2 ETFs. Maybe ISPY is the best of both worlds: distributions & CG. I look forward to a future comparison of these 3 ETFs. I understand not including ISPY now since it is newer.
ISPY is getting a lot of attention. Thanks for mentioning it...worth keeping an eye on that one too.
@@armchairincomechannel Thanks. Also ISPY 's sister fund IQQQ, while only 3 months old, has a better Total Return than JEPQ & QQQI so far.
I like the GPIX strategy and will be watching this one. The newness alone wouldn't stop me from investing at least a small amount, but right now, I've got sufficient index and index options coverage, though I'm not averse to adjusting. It's on my watch list.
Thanks for your feedback. I agree that its worth keeping an eye on.
Great comparative analysis, thank you as always.
Thanks for taking the time to comment!
as long as spyi's nav can stay flat or go up, im taking that 12% yield over anything
I share your appreciation of the 12% yield. It's been working quite nicely.
GPIX looks good will add it to watch list & consider to adding a new one or dropping something else.
It's worth keeping an eye on.
Thanks ive had GPIX for most this year. Im keeping it into retirement.
It's off to a good start.
Great informative video thanks! I'd still be hard pressed to move funds out of SPYI to a different S&P 500 CC ETF, but I'll watching this ETF with interest nevertheless.
I have a similar view, but will keep an eye on it.
Great video, didn't know about GPIX', wish it was tax efficient. I am pretty deep into SPYI and QQQI. GPIX may fill the bill as you stated for diversification in different bull or bearish markets.
Thanks for your feedback. I think its worth knowing the differences between these funds to help decide which ones to hold.
Thank you. I appreciate your videos and investing thesis.
I'm glad you find the information helpful, thanks for letting me know :)
Thanks for the analysis! I enjoy your videos!
I appreciate that!
Isn’t selling ATM calls the same reason that XYLD has had the mediocre record it has? It seems like this fund is benefiting a lot from the timing of its launch.
I think XYLD is covered at 100% ATM vs lower % on his competitors. That leaves more room for price appreciation if the fund manager use lower coverage % in a tactical way along the market cycle
Exactly why I sold out of it. For me, a covered call fund should be able to catch some appreciation, and that is why I like SPYI. Indeed, in a bear market, it seems to me that ATM CC funds have a hard time trying to recoup their NAV share price because of this dynamic.
@@SummitMan165 But XYLD has a yield of like 9%. How can this fund write calls on a substantially lower percentage of its portfolio and still be a "high-yield" fund?
@@ramrod2298 good question to as them !!
If they sold ATM calls on 100% of the portfolio then yes, it would clone XYLD and I wouldn't be interested because there'd be no room for appreciation. Given that they can sell options on as little as 25% of the portfolio, there is room for appreciation.
Question - are you rolling over your income for compounding, or are you taking all your income and withdrawing it? Or possibly just withdrawing the income that you need and allowing the additional left over to compound?
In round numbers, my portfolio is yielding 11%. I'm withdrawing about 8% and re-investing about 3% to compound. Some of the stocks/funds have increased their dividends (eg. HESM, MAIN) which also helps compounding.
@@armchairincomechannel thanks for the reply :)
@@armchairincomechannel now question is out of that 8%, how much taxes you need to put aside. lol
Sticking with spyi
SPYI is more my style too but I'll keep an eye on GPIX to see how it does during a dip.
Hi Armchair. On another stock SVOL if I buy tonight will I get the dividend ex date is 25 June.
Hi. Yes, and the alternative is to buy it a day later and it will be slightly cheaper to compensate for the payout.
Any feeling on QDTE and XDTE from roundhill. Writing poor man cover calls on qqq and s and p. Pays weekly.
Those are too young and the distributions are too volatile for me to have an opinion yet. Will keep an eye on them.
@@armchairincomechannel I bought a little. Uneven distributions but even the low is above 8%. Weekely payments is nice too.
Isn’t QQQI better than spyi? And Fepi?
I wouldn't say anything of them are "better". It's too early to tell. QQQI and SPYI are identical except that they track different indexes, so it depends which index you want to follow. SPYI is a lower yield but also less volatile. FEPI is a much higher yield but also far more volatile.
I wonder IF we'll soon have an EFT glut......there's one coming out just about every second week.........on another note, Great Video once again........oh, and the music 🎶 theme of course 😊
An abundance of alternatives would be great! I'd rather have too many good options to choose from than not enough. Glad you like the music :)
You are the best source of the information I am looking for anywhere on the net. Regarding your Armchair Income Portfolio email; Thank you for it, can you add a column that states if the investment issues a K1 or not? Thanks
Thanks for your feedback, I'm glad that the information is helpful! Regarding K-1's...I do not have any investments in my portfolio that issue K-1's, nor have I in the past. I don't have any plans in the near term to add any. If I do, I'll be sure to indicate clearly that they issue a K-1.
So far XDTE is beating GPIX in the important ways. XDTE has a higher: Total Return, Distributions, Sharpe & Sortino Ratios. Consider XDTE before GPIX.
It's early days for XDTE, but you're right, it is off to a great start. I'm impressed with its ability to bounce back from the August 5th selloff. One to keep an eye on. Thanks for the feedback.
EARN, starting position Monday. A little FEPI, for fun. Thanks for the info.
I'm not familiar with EARN. Thanks for your feedback.
I want tu start investing im 30 yers old . i like QQQi what du you fink ? Grate video 😊
QQQI works for me but that doesn't mean everybody should invest in it. Each person has different needs based on their tax situation, income, existing portfolio, and approach to risk. I can't tell you what to buy or not buy. Thanks for watching and I hope the information helps you decide what works for you.
Is this the new studio 🎙 ?
I just made a few minor adjustments this week. Still experimenting.
Peope have been saying otm has more up side potential than atm, like how muh more? Do u know ? I sold all my gpiq and jump over jepq. Because qyld is atm and it had very bad performance so far.
The exact amount depends on several factors including how far out of the money and the level of volatility. All other things being equal, OTM is better than ATM. What complicated GPIX is that, unlike XYLD, options are not sold on 100% of the portfolio. Let's say options are sold on 50% of the portfolio...there's no upside for that 50% but there is income. However, on the other 50%, there's unlimited upside. To summarize, I don't like ATM if its on 100% of the portfolio or close to 100%.
BALI is another new horse with just as good returns. Why omitted?
That's a good point. BALI's total returns so far have been excellent. The payouts vary quite a lot and the yield has been a little lower than I like but the appreciation has been very impressive. It's definitely on my radar. Thanks for mentioning it.
I rather just do a 50/50 split with SPY & SPYI
That'll work too :)
The only problem I see with GPIX is it has extremely low liquidity and at times a very large spread Unlike JEPI. SPYI is a bit better in terms of liquidity. Is this just the byproduct of the strategy?
I haven't purchased GPIX but I looked and saw liquidity varies a lot by day. If you want to buy it you could use limit orders. There are plenty of days where liquidity is high. Also, with GS behind it I'm sure it will grow fairly quickly in AUM. I like SPYI too.
@@armchairincomechannel I started moving some money into GPIX today, the low liquidity must’ve been because people are sitting on the sidelines because this is a very volatile week and most are waiting to see what happens. I also own SPYI and it held up very well this past week with its low bata. I love pull backs because I keep a large cash position to bulk up when needed. I also like the fact it’s backed behind Goldmen and the managers have $1 million each in these funds of their own money.
i'm more concerned with how these will perform in a recession and since one is right around the corner i'll wait until it's over to buy when stocks and etf's are back at lows. i'm mostly cash, commodities and metals right now. i have no plans to lose half my wealth just to collect dividends on the way down.
Are you 100% in cash/t-bills?
According to Peter Lynch, people lose more money waiting for a crash (opportunity loss) than in an actual crash.
My worst investment decision (greatest loss) was when I went to cash in 2020 for a few months. Buying back in when the market was higher was stressful.
Thanks for sharing your strategy. Its important to consider how these investments will fare during a recession. Many of them have a history that extends back beyond the 2008 Global Financial Crisis. BDCs like MAIN didn't blink in regards to their distributions. The price fell and then recovered but the income was solid. A recession is always on the horizon but I don't expect one as bad as 2008.
I'm curious about tax implications with GPIX, since one of SPYI stated goals has tax efficiency....damn, i knew i should have waited to the very end 😂
We won't know the true nature of GPIX's tax treatment until the end of year financial statements but I haven't seen anything in their materials that suggests tax efficiency. They refer to "ordinary income and capital gains" but have only reported ordinary income so far.
Can a ROTH IRA WORK using this ETF to avoid taxes?
Having more appreciation does it mean it will recover better during bear market?
That's yet to be seen, but I think GPIX and GPIQ will recover faster than the others after a bear market has ended. They seem to be tracking the underlying indexes more closely.
It depends on how the portfolio managers adjust the Overwrite Level in response to a correction. If they time it right, they'll have less exposure during a bear market and more exposure during the recovery phase. That's not easy to do. It has the potential to recover faster because the Overwrite Level can drop as low as 25%. We won't know the actual performance until it actually happens.
@@armchairincomechannel sometimes on a red day ,qqq drop 0.80% and qqqi only drop 0.30%. can u explain that ,thank you so much.
ISPY might be better than GPIX
Too early to know, but its possible. Let's see how they do after a correction.
I'm sorry that you've changed the format so that you look like a clownish figure on your posts. I suppose you'll get more clicks and money, but is it worth it? I liked the serious format much better.
I don't understand your comment. When you say "posts", are you referring to my thumbnails?
I don't see that at all? He has some of the most straightforward videos of any income investor on RUclips and none of his titles are clickbait. Where is the clowning? Are you talking about the green screen background? I don't see how that has much to do with anything either?
@@armchairincomechannelYes. You have a great and serious channel and it's not reflected in your thumbnails anymore.
@@crmmedicine9701 so you click on videos depend on thumbnails instead of the information that video provide?... ok....
Thank you for complimenting my channel. If you have any suggestions regarding design concepts for future thumbnails, I'm open to new ideas.