- ISIN
- US3814305450
- CUSIP
- 381430545
- Issuer
- Goldman Sachs
- Inception Date
- Nov 1, 2016
- Region
- North America (U.S.)
- Category
- Large Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Goldman Sachs Hedge Fund VIP Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $582M
Share Price Chart
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Performance
GVIP Performance Chart
Goldman Sachs Hedge Industry VIP ETF (GVIP) is up 17.1% since the beginning of the year. GVIP is currently trading at $181 per share. Investors who bought $1,000 worth of GVIP shares 5 years ago would now be looking at an investment worth $1,804.
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Returns By Period
Goldman Sachs Hedge Industry VIP ETF (GVIP) has returned 17.09% so far this year and 31.79% over the past 12 months.
Goldman Sachs Hedge Industry VIP ETF
- 1D
- -0.16%
- 1M
- 2.35%
- 6M
- 14.46%
- YTD
- 17.09%
- 1Y
- 31.79%
- 3Y*
- 28.61%
- 5Y*
- 12.52%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 1.94%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 21.02%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
GVIP Monthly Returns History
Based on dividend-adjusted daily data since Nov 3, 2016, GVIP's average daily return is +0.07%, while the average monthly return is +1.48%. At this rate, an investment would double in approximately 3.9 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2026 with a return of +14.7%, while the worst month was Mar 2020 at -16.0%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 3 months.
On a daily basis, GVIP closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +10.6%, while the worst single day was Mar 16, 2020 at -12.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.58% | -1.57% | -6.82% | 14.66% | 7.38% | 5.18% | -3.89% | 17.09% | |||||
| 2025 | 4.75% | -1.13% | -8.26% | 2.17% | 8.05% | 6.32% | 1.90% | 1.70% | 6.88% | 1.30% | -0.90% | 1.02% | 25.27% |
| 2024 | 4.09% | 5.84% | 3.49% | -3.66% | 4.16% | 0.84% | 0.56% | 4.36% | 3.08% | 0.09% | 7.06% | -2.93% | 29.82% |
| 2023 | 10.36% | -1.21% | 1.73% | 0.66% | 3.49% | 6.44% | 4.58% | -0.41% | -3.81% | -2.49% | 11.53% | 3.86% | 39.15% |
| 2022 | -8.17% | -2.79% | 1.27% | -11.62% | -4.10% | -10.33% | 9.95% | -2.07% | -8.98% | 4.55% | 3.48% | -6.60% | -31.95% |
| 2021 | -1.58% | 6.44% | -1.28% | 4.88% | -0.20% | 2.99% | -0.31% | 1.83% | -4.46% | 3.69% | -1.15% | 0.94% | 11.86% |
Benchmark Metrics
Goldman Sachs Hedge Industry VIP ETF has an annualized alpha of 2.04%, beta of 1.10, and R2 of 0.85 versus S&P 500 Index. Calculated based on daily prices since November 03, 2016.
- This ETF captured 110.98% of S&P 500 Index gains but only 98.63% of its losses - a favorable profile for investors.
- This ETF generated an annualized alpha of 2.04% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.10 and R2 of 0.85, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 2.04%
- Beta
- 1.10
- R²
- 0.85
- Upside Capture
- 110.98%
- Downside Capture
- 98.63%
Expense Ratio
GVIP has an expense ratio of 0.45%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GVIP ranks 55 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Goldman Sachs Hedge Industry VIP ETF (GVIP) and compare them to S&P 500 Index.
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.
| GVIP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.28 | +0.01 |
| Martin ratioReturn relative to average drawdown | 9.11 | 9.88 | -0.77 |
Dividends
Dividend History
Goldman Sachs Hedge Industry VIP ETF provided a 0.29% dividend yield over the last twelve months, with an annual payout of $0.52 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.52 | $0.35 | $0.74 | $0.01 | $0.00 | $0.11 | $0.49 | $0.22 | $0.24 | $0.04 |
Dividend yield | 0.29% | 0.34% | 0.29% | 0.77% | 0.02% | 0.00% | 0.12% | 0.77% | 0.44% | 0.45% | 0.08% |
Monthly Dividends
The table displays the monthly dividend distributions for Goldman Sachs Hedge Industry VIP ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.52 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.74 | $0.74 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Goldman Sachs Hedge Industry VIP ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Goldman Sachs Hedge Industry VIP ETF was 37.09%, occurring on Oct 14, 2022. Recovery took 344 trading sessions.
The current Goldman Sachs Hedge Industry VIP ETF drawdown is 5.41%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -37.09%Oct 2022 | 11mo 1d | 1y 4mo | 2y 3moNov 2021 - Feb 2024 |
COVID crash2020 | -36.63%Mar 2020 | 27d | 4mo 4d | 5mo 1dFeb 2020 - Jul 2020 |
2025 selloff2025 | -23.29%Apr 2025 | 1mo 19d | 2mo 19d | 4mo 8dFeb 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -21.48%Dec 2018 | 3mo 4d | 3mo 17d | 6mo 21dSep 2018 - Apr 2019 |
2026 correction2026 | -13.67%Mar 2026 | 1mo 25d | 15d | 2mo 10dFeb 2026 - Apr 2026 |
Drawdown Indicators
| GVIP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.09% | -56.78% | +19.69% |
Max Drawdown (1Y)Largest decline over 1 year | -13.67% | -9.10% | -4.57% |
Max Drawdown (3Y)Largest decline over 3 years | -23.29% | -18.90% | -4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -37.09% | -25.43% | -11.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -5.41% | -0.45% | -4.96% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -10.71% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 2.09% | +1.34% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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