GDOC vs. GVIP

Last updated Jun 4, 2026

GDOC (Goldman Sachs Future Health Care Equity ETF) and GVIP (Goldman Sachs Hedge Industry VIP ETF) are both exchange-traded funds - GDOC is a Health & Biotech Equities fund actively managed by Goldman Sachs, while GVIP is a Large Cap Growth Equities fund tracking the Goldman Sachs Hedge Fund VIP Index. GDOC is actively managed, while GVIP is passively managed. Over the past 3 years, GDOC returned 0.05%/yr vs 30.49%/yr for GVIP. A 0.66 correlation means they provide meaningful diversification when combined. GDOC charges 0.75%/yr vs 0.45%/yr for GVIP.

Performance

GDOC vs. GVIP - 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 Hedge Industry VIP ETF (GVIP). 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 GVIP's 16.17% return.

GDOC

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

GVIP

• 1D: -0.33%
• 1M: 6.71%
• YTD: 16.17%
• 6M: 18.08%
• 1Y: 36.94%
• 3Y*: 30.49%
• 5Y*: 12.90%
• 10Y*: —

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

GDOC vs. GVIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GDOC Goldman Sachs Future Health Care Equity ETF	-7.76%	10.74%	-1.66%	4.60%	-17.12%	-2.77%
GVIP Goldman Sachs Hedge Industry VIP ETF	16.17%	25.27%	29.82%	39.15%	-31.95%	-2.08%

Correlation

The correlation between GDOC and GVIP is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 12, 2021	0.66

Over the past year, the correlation between GDOC and GVIP has dropped to 0.40 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

GDOC vs. GVIP - Sectors Allocation Comparison

Sectors	GDOC	GVIP
Healthcare	97.3%	8.0%
Consumer Defensive	1.0%	1.2%
Basic Materials	-	-
Communication Services	-	11.5%
Consumer Cyclical	-	8.0%
Energy	-	-
Financial Services	-	15.8%
Industrials	-	9.5%
Real Estate	-	-
Technology	-	38.6%
Utilities	-	8.4%

Return for Risk

GDOC vs. GVIP — 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

GVIP

GVIP Risk / Return Rank: 58
GVIP Sharpe Ratio Rank: 59
GVIP Sortino Ratio Rank: 56
GVIP Omega Ratio Rank: 58
GVIP Calmar Ratio Rank: 54
GVIP Martin Ratio Rank: 64

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. GVIP - 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 Hedge Industry VIP ETF (GVIP). 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	GVIP	Difference
Sharpe ratio: Return per unit of total volatility	0.33	2.05	-1.72
Sortino ratio: Return per unit of downside risk	0.60	2.74	-2.14
Omega ratio: Gain probability vs. loss probability	1.07	1.36	-0.29
Calmar ratio: Return relative to maximum drawdown	0.33	2.71	-2.38
Martin ratio: Return relative to average drawdown	0.76	11.81	-11.05
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. GVIP - Sharpe Ratio Comparison

The current GDOC Sharpe Ratio is 0.33, which is lower than the GVIP Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of GDOC and GVIP, 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	GVIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	2.05	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.82	-1.01

Drawdowns

GDOC vs. GVIP - Drawdown Comparison

The maximum GDOC drawdown since its inception was -31.01%, smaller than the maximum GVIP drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for GDOC and GVIP.

Drawdown Indicators

	GDOC	GVIP	Difference
Max Drawdown Largest peak-to-trough decline	-31.01%	-37.09%	+6.08%
Max Drawdown (1Y) Largest decline over 1 year	-15.67%	-13.67%	-2.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	-23.29%	+0.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-37.09%	—
Current Drawdown Current decline from peak	-15.53%	-0.33%	-15.20%
Average Drawdown Average peak-to-trough decline	-15.90%	-7.59%	-8.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	3.14%	+3.69%

Volatility

GDOC vs. GVIP - Volatility Comparison

The current volatility for Goldman Sachs Future Health Care Equity ETF (GDOC) is 4.90%, while Goldman Sachs Hedge Industry VIP ETF (GVIP) has a volatility of 5.42%. This indicates that GDOC experiences smaller price fluctuations and is considered to be less risky than GVIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDOC	GVIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	5.42%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	14.47%	-2.86%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	18.13%	-2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	21.29%	-2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.79%	21.65%	-2.86%

GDOC vs. GVIP - Expense Ratio Comparison

GDOC has a 0.75% expense ratio, which is higher than GVIP's 0.45% expense ratio.

Dividends

GDOC vs. GVIP - Dividend Comparison

GDOC's dividend yield for the trailing twelve months is around 0.35%, more than GVIP's 0.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GDOC Goldman Sachs Future Health Care Equity ETF	0.35%	0.32%	0.02%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GVIP Goldman Sachs Hedge Industry VIP ETF	0.29%	0.34%	0.29%	0.77%	0.02%	0.00%	0.12%	0.77%	0.44%	0.45%	0.08%

Frequently Asked Questions

Can I hold both GDOC and GVIP in my portfolio?

GDOC and GVIP have a correlation of 0.40, 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 GVIP?

GVIP has higher volatility (5.42%) compared to GDOC (4.90%). In terms of maximum drawdown, GDOC dropped -31.01% vs GVIP's -37.09%.

Which ETF is better, GDOC or GVIP?

On 3-year performance, GVIP leads with 30.49% vs 0.05% for GDOC. On fees, GVIP is cheaper at 0.45% per year. On volatility, GDOC has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDOC or GVIP?

Over the 3-year period, GVIP has performed better with a 30.49% return vs 0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDOC or GVIP?

GVIP is cheaper with a 0.45% expense ratio, compared with 0.75% for GDOC.

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

GDOC has the higher dividend yield at 0.35%, compared with 0.29% for GVIP.

What is the main difference between GDOC and GVIP?

GDOC is categorized as Health & Biotech Equities, while GVIP is Large Cap Growth Equities. Their fees differ too: 0.75% for GDOC and 0.45% for GVIP.

Which has better risk-adjusted returns?

GVIP currently has the higher Sharpe Ratio (2.05 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.