FTHY vs. GPIQ

Last updated Jun 4, 2026

FTHY (First Trust High Yield Opportunities 2027 Term Fund) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both funds - FTHY is a High Yield Bonds fund managed by First Trust, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Over the past year, FTHY returned 2.84% vs 37.50% for GPIQ. At a 0.37 correlation, their price movements are largely independent. FTHY charges 0.02%/yr vs 0.29%/yr for GPIQ.

Performance

FTHY vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust High Yield Opportunities 2027 Term Fund (FTHY) 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, FTHY achieves a -0.35% return, which is significantly lower than GPIQ's 18.30% return.

FTHY

• 1D: -1.85%
• 1M: -0.73%
• YTD: -0.35%
• 6M: -0.35%
• 1Y: 2.84%
• 3Y*: 10.55%
• 5Y*: 2.36%
• 10Y*: —

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)

FTHY vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTHY First Trust High Yield Opportunities 2027 Term Fund	-0.35%	7.80%	15.71%	11.27%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.30%	19.77%	23.22%	15.38%

Correlation

The correlation between FTHY and GPIQ is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.37

The correlation between FTHY and GPIQ shifts across timeframes, from 0.37 (all time) to 0.52 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTHY vs. GPIQ — Risk / Return Rank

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

FTHY

FTHY Risk / Return Rank: 5
FTHY Sharpe Ratio Rank: 5
FTHY Sortino Ratio Rank: 5
FTHY Omega Ratio Rank: 5
FTHY Calmar Ratio Rank: 6
FTHY Martin Ratio Rank: 6

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.

FTHY vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust High Yield Opportunities 2027 Term Fund (FTHY) 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.

	FTHY	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.39	2.81	-2.43
Sortino ratio: Return per unit of downside risk	0.59	3.71	-3.12
Omega ratio: Gain probability vs. loss probability	1.07	1.51	-0.43
Calmar ratio: Return relative to maximum drawdown	0.52	3.96	-3.44
Martin ratio: Return relative to average drawdown	1.44	17.48	-16.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTHY vs. GPIQ - Sharpe Ratio Comparison

The current FTHY Sharpe Ratio is 0.39, which is lower than the GPIQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of FTHY 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

	FTHY	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	2.81	-2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	1.78	-1.56

Drawdowns

FTHY vs. GPIQ - Drawdown Comparison

The maximum FTHY drawdown since its inception was -31.17%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for FTHY and GPIQ.

Drawdown Indicators

	FTHY	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-31.17%	-21.06%	-10.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.44%	-9.51%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-8.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	—	—
Current Drawdown Current decline from peak	-3.10%	-0.19%	-2.91%
Average Drawdown Average peak-to-trough decline	-10.20%	-2.27%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.15%	-0.17%

Volatility

FTHY vs. GPIQ - Volatility Comparison

The current volatility for First Trust High Yield Opportunities 2027 Term Fund (FTHY) is 2.75%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 3.39%. This indicates that FTHY 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

	FTHY	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	3.39%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	5.67%	10.44%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	7.37%	13.40%	-6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	17.47%	-4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	17.47%	-4.19%

FTHY vs. GPIQ - Expense Ratio Comparison

FTHY has a 0.02% expense ratio, which is lower than GPIQ's 0.29% expense ratio.

Dividends

FTHY vs. GPIQ - Dividend Comparison

FTHY's dividend yield for the trailing twelve months is around 11.30%, more than GPIQ's 9.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FTHY First Trust High Yield Opportunities 2027 Term Fund	11.30%	10.66%	10.70%	10.22%	11.85%	7.83%	2.94%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.32%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTHY and GPIQ in my portfolio?

FTHY and GPIQ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTHY or GPIQ?

GPIQ has higher volatility (3.39%) compared to FTHY (2.75%). In terms of maximum drawdown, FTHY dropped -31.17% vs GPIQ's -21.06%.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.81 vs 0.39), 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.