ECAT vs. GPIQ

Last updated Aug 1, 2026

ECAT (BlackRock ESG Capital Allocation Term Trust) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both funds - ECAT is a Tactical Allocation fund managed by BlackRock, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Over the past year, ECAT returned 14.04% vs 24.16% for GPIQ. Their 0.64 correlation means they have sometimes moved together and sometimes differently. ECAT charges 1.43%/yr vs 0.29%/yr for GPIQ.

Performance

ECAT vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock ESG Capital Allocation Term Trust (ECAT) 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, ECAT achieves a 10.45% return, which is significantly lower than GPIQ's 11.67% return.

ECAT

• 1D: -0.47%
• 1M: -3.56%
• 6M: 8.10%
• YTD: 10.45%
• 1Y: 14.04%
• 3Y*: 17.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.71%

GPIQ

• 1D: 0.58%
• 1M: -2.85%
• 6M: 9.86%
• YTD: 11.67%
• 1Y: 24.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ECAT BlackRock ESG Capital Allocation Term Trust	$7.46M	$7.38M	$7.72M
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	$86.57M	$81.60M	$83.20M

ECAT vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ECAT BlackRock ESG Capital Allocation Term Trust	10.45%	16.64%	19.96%	15.76%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	11.67%	19.77%	23.22%	15.17%

Correlation

The correlation between ECAT and GPIQ is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.64

The correlation between ECAT and GPIQ has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.

Return for Risk

ECAT vs. GPIQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECAT

ECAT Risk / Return Rank: 29
ECAT Sharpe Ratio Rank: 31
ECAT Sortino Ratio Rank: 30
ECAT Omega Ratio Rank: 30
ECAT Calmar Ratio Rank: 27
ECAT Martin Ratio Rank: 30

GPIQ

GPIQ Risk / Return Rank: 60
GPIQ Sharpe Ratio Rank: 57
GPIQ Sortino Ratio Rank: 54
GPIQ Omega Ratio Rank: 55
GPIQ Calmar Ratio Rank: 68
GPIQ Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECAT vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock ESG Capital Allocation Term Trust (ECAT) 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.

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.

	ECAT	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.34	-0.37
Sortino ratio: Return per unit of downside risk	1.42	1.87	-0.45
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.16	2.35	-1.19
Martin ratio: Return relative to average drawdown	4.22	8.33	-4.11

ECAT vs. GPIQ - Sharpe Ratio Comparison

The current ECAT Sharpe Ratio is 0.97, which is comparable to the GPIQ Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of ECAT 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.

Drawdowns

ECAT vs. GPIQ - Drawdown Comparison

The maximum ECAT drawdown since its inception was -32.23%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for ECAT and GPIQ.

Drawdown Indicators

	ECAT	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-32.23%	-21.06%	-11.17%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-9.51%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	—	—
Current Drawdown Current decline from peak	-4.28%	-5.90%	+1.62%
Average Drawdown Average peak-to-trough decline	-8.86%	-2.33%	-6.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.68%	+0.56%

Volatility

ECAT vs. GPIQ - Volatility Comparison

The current volatility for BlackRock ESG Capital Allocation Term Trust (ECAT) is 3.75%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 6.39%. This indicates that ECAT 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

	ECAT	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	6.39%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	14.09%	-2.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	16.69%	-2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	18.06%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	18.06%	-1.24%

ECAT vs. GPIQ - Expense Ratio Comparison

ECAT has a 1.43% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

ECAT vs. GPIQ - Dividend Comparison

ECAT's dividend yield for the trailing twelve months is around 22.31%, more than GPIQ's 10.12% yield.

Position	TTM	2025	2024	2023	2022	2021
ECAT BlackRock ESG Capital Allocation Term Trust	22.31%	23.00%	17.44%	9.14%	8.94%	0.54%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.32%	9.81%	9.18%	1.74%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECAT and GPIQ in my portfolio?

ECAT and GPIQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECAT or GPIQ?

GPIQ has higher volatility (6.39%) compared to ECAT (3.75%). In terms of maximum drawdown, ECAT dropped -32.23% vs GPIQ's -21.06%.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (1.34 vs 0.97), 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.