GDOC vs. GPIX

Last updated Jun 4, 2026

GDOC (Goldman Sachs Future Health Care Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GDOC is a Health & Biotech Equities fund actively managed by Goldman Sachs, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, GDOC returned 5.18% vs 25.55% for GPIX. A 0.58 correlation means they provide meaningful diversification when combined. GDOC charges 0.75%/yr vs 0.29%/yr for GPIX.

Performance

GDOC vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Future Health Care Equity ETF (GDOC) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDOC achieves a -7.76% return, which is significantly lower than GPIX's 9.91% return.

GDOC

• 1D: 0.41%
• 1M: 1.93%
• YTD: -7.76%
• 6M: -9.87%
• 1Y: 5.18%
• 3Y*: 0.05%
• 5Y*: —
• 10Y*: —

GPIX

• 1D: -0.48%
• 1M: 4.27%
• YTD: 9.91%
• 6M: 10.34%
• 1Y: 25.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDOC vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GDOC Goldman Sachs Future Health Care Equity ETF	-7.76%	10.74%	-1.66%	17.22%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.91%	16.25%	21.77%	13.45%

Correlation

The correlation between GDOC and GPIX is 0.51, 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	0.51
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.58

The correlation between GDOC and GPIX has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

GDOC vs. GPIX - Sectors Allocation Comparison

Sectors	GDOC	GPIX
Healthcare	97.3%	8.4%
Consumer Defensive	1.0%	4.9%
Basic Materials	-	1.8%
Communication Services	-	11.5%
Consumer Cyclical	-	10.1%
Energy	-	3.5%
Financial Services	-	11.6%
Industrials	-	8.4%
Real Estate	-	2.0%
Technology	-	35.5%
Utilities	-	2.4%

Return for Risk

GDOC vs. GPIX — Risk / Return Rank

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

GDOC

GDOC Risk / Return Rank: 13
GDOC Sharpe Ratio Rank: 14
GDOC Sortino Ratio Rank: 14
GDOC Omega Ratio Rank: 13
GDOC Calmar Ratio Rank: 13
GDOC Martin Ratio Rank: 13

GPIX

GPIX Risk / Return Rank: 75
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 79
GPIX Calmar Ratio Rank: 66
GPIX Martin Ratio Rank: 82

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.

GDOC vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Future Health Care Equity ETF (GDOC) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). 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.

	GDOC	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.33	2.52	-2.19
Sortino ratio: Return per unit of downside risk	0.60	3.48	-2.88
Omega ratio: Gain probability vs. loss probability	1.07	1.48	-0.41
Calmar ratio: Return relative to maximum drawdown	0.33	3.33	-3.00
Martin ratio: Return relative to average drawdown	0.76	16.77	-16.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDOC vs. GPIX - Sharpe Ratio Comparison

The current GDOC Sharpe Ratio is 0.33, which is lower than the GPIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of GDOC and GPIX, 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

	GDOC	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	2.52	-2.19
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	1.78	-1.98

Drawdowns

GDOC vs. GPIX - Drawdown Comparison

The maximum GDOC drawdown since its inception was -31.01%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GDOC and GPIX.

Drawdown Indicators

	GDOC	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.01%	-17.50%	-13.51%
Max Drawdown (1Y) Largest decline over 1 year	-15.67%	-7.71%	-7.96%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	—	—
Current Drawdown Current decline from peak	-15.53%	-0.48%	-15.05%
Average Drawdown Average peak-to-trough decline	-15.90%	-1.48%	-14.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	1.53%	+5.30%

Volatility

GDOC vs. GPIX - Volatility Comparison

Goldman Sachs Future Health Care Equity ETF (GDOC) has a higher volatility of 4.90% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that GDOC's price experiences larger fluctuations and is considered to be riskier than GPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDOC	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	2.26%	+2.64%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	7.89%	+3.72%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	10.17%	+5.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	13.80%	+4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	13.80%	+4.99%

GDOC vs. GPIX - Expense Ratio Comparison

GDOC has a 0.75% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

GDOC vs. GPIX - Dividend Comparison

GDOC's dividend yield for the trailing twelve months is around 0.35%, less than GPIX's 8.00% yield.

Position	TTM	2025	2024	2023	2022
GDOC Goldman Sachs Future Health Care Equity ETF	0.35%	0.32%	0.02%	0.55%	0.00%
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.00%	8.01%	7.45%	1.40%	0.00%

Frequently Asked Questions

Can I hold both GDOC and GPIX in my portfolio?

GDOC and GPIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDOC or GPIX?

GDOC has higher volatility (4.90%) compared to GPIX (2.26%). In terms of maximum drawdown, GDOC dropped -31.01% vs GPIX's -17.50%.

Which ETF is better, GDOC or GPIX?

On 1-year performance, GPIX leads with 25.55% vs 5.18% for GDOC. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDOC or GPIX?

Over the 1-year period, GPIX has performed better with a 25.55% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDOC or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.75% for GDOC.

Which ETF pays a higher dividend yield, GDOC or GPIX?

GPIX has the higher dividend yield at 8.00%, compared with 0.35% for GDOC.

What is the main difference between GDOC and GPIX?

GDOC is categorized as Health & Biotech Equities, while GPIX is Derivative Income. Their fees differ too: 0.75% for GDOC and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.52 vs 0.33), 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.