GDOC vs. XLVI

Last updated Aug 4, 2026

GDOC (Goldman Sachs Future Health Care Equity ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - GDOC is a Health & Biotech Equities fund actively managed by Goldman Sachs, while XLVI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, GDOC returned 15.93% vs 22.96% for XLVI. Their correlation of 0.81 means they have usually moved in the same direction. GDOC charges 0.75%/yr vs 0.35%/yr for XLVI.

Performance

GDOC vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Future Health Care Equity ETF (GDOC) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDOC achieves a 0.66% return, which is significantly lower than XLVI's 6.89% return.

GDOC

• 1D: -0.22%
• 1M: -3.14%
• 6M: 0.88%
• YTD: 0.66%
• 1Y: 15.93%
• 3Y*: 3.79%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.65%

XLVI

• 1D: -0.20%
• 1M: 0.97%
• 6M: 6.00%
• YTD: 6.89%
• 1Y: 22.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.93%

*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)
GDOC Goldman Sachs Future Health Care Equity ETF	$19.39K	$11.72K	$75.91K
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$940.40K	$699.80K	$484.44K

GDOC vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
GDOC Goldman Sachs Future Health Care Equity ETF	0.66%	13.16%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	6.89%	12.41%

Correlation

The correlation between GDOC and XLVI is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.81

The correlation between GDOC and XLVI has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

GDOC vs. XLVI - Sectors Allocation Comparison

Sectors	GDOC	XLVI
Healthcare	100.0%	100.0%
Consumer Defensive	1.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	-
Financial Services	-	100.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GDOC vs. XLVI — Risk / Return Rank

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

GDOC

GDOC Risk / Return Rank: 33
GDOC Sharpe Ratio Rank: 37
GDOC Sortino Ratio Rank: 40
GDOC Omega Ratio Rank: 34
GDOC Calmar Ratio Rank: 30
GDOC Martin Ratio Rank: 26

XLVI

XLVI Risk / Return Rank: 80
XLVI Sharpe Ratio Rank: 85
XLVI Sortino Ratio Rank: 89
XLVI Omega Ratio Rank: 87
XLVI Calmar Ratio Rank: 75
XLVI Martin Ratio Rank: 62

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.

GDOC vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Future Health Care Equity ETF (GDOC) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). 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.

	GDOC	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.00	2.15	-1.15
Sortino ratio: Return per unit of downside risk	1.58	3.23	-1.65
Omega ratio: Gain probability vs. loss probability	1.17	1.41	-0.23
Calmar ratio: Return relative to maximum drawdown	1.02	2.83	-1.81
Martin ratio: Return relative to average drawdown	2.21	8.00	-5.79

GDOC vs. XLVI - Sharpe Ratio Comparison

The current GDOC Sharpe Ratio is 1.00, which is lower than the XLVI Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of GDOC and XLVI, 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

GDOC vs. XLVI - Drawdown Comparison

The maximum GDOC drawdown since its inception was -31.01%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for GDOC and XLVI.

Drawdown Indicators

	GDOC	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-31.01%	-8.14%	-22.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.67%	-8.14%	-7.53%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	—	—
Current Drawdown Current decline from peak	-7.82%	-1.66%	-6.16%
Average Drawdown Average peak-to-trough decline	-15.66%	-1.78%	-13.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.22%	2.88%	+4.34%

Volatility

GDOC vs. XLVI - Volatility Comparison

Goldman Sachs Future Health Care Equity ETF (GDOC) has a higher volatility of 3.77% compared to State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) at 3.36%. This indicates that GDOC's price experiences larger fluctuations and is considered to be riskier than XLVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDOC	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.36%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	8.73%	+3.73%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	10.75%	+5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	11.04%	+7.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	11.04%	+7.68%

GDOC vs. XLVI - Expense Ratio Comparison

GDOC has a 0.75% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

GDOC vs. XLVI - Dividend Comparison

GDOC's dividend yield for the trailing twelve months is around 0.32%, less than XLVI's 12.76% yield.

Position	TTM	2025	2024	2023	2022
GDOC Goldman Sachs Future Health Care Equity ETF	0.32%	0.32%	0.02%	0.55%	0.00%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	12.76%	5.73%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GDOC and XLVI in my portfolio?

GDOC and XLVI have a correlation of 0.81, 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 XLVI?

GDOC has higher volatility (3.77%) compared to XLVI (3.36%). In terms of maximum drawdown, GDOC dropped -31.01% vs XLVI's -8.14%.

Which ETF is better, GDOC or XLVI?

On 1-year performance, XLVI leads with 22.96% vs 15.93% for GDOC. On fees, XLVI is cheaper at 0.35% per year. On volatility, XLVI has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDOC or XLVI?

Over the 1-year period, XLVI has performed better with a 22.96% return vs 15.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDOC or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.75% for GDOC.

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

XLVI has the higher dividend yield at 12.76%, compared with 0.32% for GDOC.

What is the main difference between GDOC and XLVI?

GDOC is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.75% for GDOC and 0.35% for XLVI.

Which has better risk-adjusted returns?

XLVI currently has the higher Sharpe Ratio (2.15 vs 1.00), 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.