EFC vs. GPIQ

Last updated Jun 4, 2026

EFC (Ellington Financial Inc.) is a stock, while GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) is Nasdaq-100 fund actively managed by Goldman Sachs. Over the past year, EFC returned 20.29% vs 37.50% for GPIQ. At a 0.36 correlation, their price movements are largely independent.

Performance

EFC vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ellington Financial Inc. (EFC) 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, EFC achieves a 3.50% return, which is significantly lower than GPIQ's 18.30% return.

EFC

• 1D: -1.76%
• 1M: 3.68%
• YTD: 3.50%
• 6M: 3.72%
• 1Y: 20.29%
• 3Y*: 14.78%
• 5Y*: 5.51%
• 10Y*: 9.08%

GPIQ

• 1D: -0.19%
• 1M: 8.51%
• YTD: 18.30%
• 6M: 17.64%
• 1Y: 37.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EFC vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EFC Ellington Financial Inc.	3.50%	26.13%	8.68%	9.78%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.30%	19.77%	23.22%	15.38%

Correlation

The correlation between EFC and GPIQ is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.36

The correlation between EFC and GPIQ shifts across timeframes, from 0.21 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EFC vs. GPIQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFC

EFC Risk / Return Rank: 69
EFC Sharpe Ratio Rank: 75
EFC Sortino Ratio Rank: 69
EFC Omega Ratio Rank: 67
EFC Calmar Ratio Rank: 63
EFC Martin Ratio Rank: 69

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 84
GPIQ Sortino Ratio Rank: 81
GPIQ Omega Ratio Rank: 82
GPIQ Calmar Ratio Rank: 77
GPIQ Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EFC vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ellington Financial Inc. (EFC) 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.

	EFC	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.16	2.81	-1.66
Sortino ratio: Return per unit of downside risk	1.70	3.71	-2.02
Omega ratio: Gain probability vs. loss probability	1.21	1.51	-0.30
Calmar ratio: Return relative to maximum drawdown	1.15	3.96	-2.81
Martin ratio: Return relative to average drawdown	3.74	17.48	-13.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFC vs. GPIQ - Sharpe Ratio Comparison

The current EFC Sharpe Ratio is 1.16, which is lower than the GPIQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of EFC 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.

Sharpe Ratios by Period

	EFC	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.81	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.78	-1.52

Drawdowns

EFC vs. GPIQ - Drawdown Comparison

The maximum EFC drawdown since its inception was -79.08%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for EFC and GPIQ.

Drawdown Indicators

	EFC	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-79.08%	-21.06%	-58.02%
Max Drawdown (1Y) Largest decline over 1 year	-17.71%	-9.51%	-8.20%
Max Drawdown (3Y) Largest decline over 3 years	-18.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-79.08%	—	—
Current Drawdown Current decline from peak	-1.76%	-0.19%	-1.57%
Average Drawdown Average peak-to-trough decline	-9.95%	-2.27%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	2.15%	+3.28%

Volatility

EFC vs. GPIQ - Volatility Comparison

Ellington Financial Inc. (EFC) has a higher volatility of 4.98% compared to Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) at 3.39%. This indicates that EFC's price experiences larger fluctuations and is considered to be riskier than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFC	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	3.39%	+1.59%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	10.44%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	13.40%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	17.47%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.26%	17.47%	+24.79%

Dividends

EFC vs. GPIQ - Dividend Comparison

EFC's dividend yield for the trailing twelve months is around 11.68%, more than GPIQ's 9.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFC Ellington Financial Inc.	11.68%	11.49%	13.20%	14.16%	14.55%	9.60%	8.49%	9.87%	10.70%	12.13%	12.56%	14.60%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.32%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EFC and GPIQ in my portfolio?

EFC and GPIQ have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFC or GPIQ?

EFC has higher volatility (4.98%) compared to GPIQ (3.39%). In terms of maximum drawdown, EFC dropped -79.08% vs GPIQ's -21.06%.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.81 vs 1.16), 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.