GPIX
Goldman Sachs ETF Trust Goldman Sachs S&P 500 Premium Income ETF
stock NASDAQ ETF

Not an expert, may be put the 401K in GPIX, GPIQ, SCHD, PBDC and CEFS. May be some part of it IWY/SCHG to leave room for growth.

SCHD is old news, move on from it. Try SPYI or QQQI or JEPQ or GPIQ/GPIX.

I am retired. My initial strategy was dividend growers such as SCHD, DGRO, VIG, etc. spending all dividends while not touching principle. Recently I have sold some of these to experiment with covered calls (DIVO and JEPQ). Those have been winners in both growth and dividend since I bought them. Meanwhile the growers like SCHD have been a drag on my portfolio balance.
I am considering shifting all equities to higher dividend funds like GPIX, GPIQ and IDVO and reinvesting half of the (over doubled) dividends. My thinking is that with reinvested dividends, this new approach would lead to both higher income and growth over time. Thoughts?

Check this out.
Let me know what you think
https://totalrealreturns.com/n/VT,SCHD,MAIN,GPIX

I dumped mine and replaced it with SPYI but I am now favoring GPIX and GPIQ they are more NAV stable with some growth. I also like MAIN. SCHD was a dog in my income portfolio.

Try GPIQ and GPIX. For 2024, their dividends were classified as > 90% return of capital. There are a number of closed end funds which invest in municipal bonds, no federal tax. Try PMF or NMZ. CEFs offer a higher dividend. Master Limited Partnerships (MLP) give out 100% ROC. There are several to choose from, like EPD ET MPLX WES.

Total return? GPIX without a doubt.

Tried both! But I like GPIX more, better returns!

JEPI vs. GPIX

I own SPYI, QQQI, GPIX, GPIQ, and others. I’m just not “all in” on anything. I value diversification. That includes diversification of strategies, not just holdings.

SPYI and GPIX all sell out of the money therefore you are wrong that all CC Funds sell ITM (some do like QYLD). Therefore certain funds capture some upside. It's a balance, GPIX which sells further out of money has more capital appreciation but less income. SPYI is the opposite, they sell closer to the money which is higher income but less capital appreciation if the underlying makes a massive move up. It is all dependent on the individual fund and investor needs to decide whether they prefer more income over appreciation and to what degree.