GIDHX vs. NIE

Last updated Aug 1, 2026

GIDHX (Goldman Sachs International Equity Dividend and Premium Fund) and NIE (Virtus Equity & Convertible Income Fund) are both Derivative Income funds. Over the past 10 years, GIDHX returned 7.02%/yr vs 13.53%/yr for NIE. Their 0.65 correlation means they have sometimes moved together and sometimes differently. GIDHX charges 0.89%/yr vs 1.12%/yr for NIE.

Performance

GIDHX vs. NIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs International Equity Dividend and Premium Fund (GIDHX) and Virtus Equity & Convertible Income Fund (NIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIDHX achieves a 13.24% return, which is significantly higher than NIE's 8.69% return. Over the past 10 years, GIDHX has underperformed NIE with an annualized return of 7.02%, while NIE has yielded a comparatively higher 13.53% annualized return.

GIDHX

• 1D: 2.61%
• 1M: 3.73%
• 6M: 7.67%
• YTD: 13.24%
• 1Y: 24.76%
• 3Y*: 13.99%
• 5Y*: 7.74%
• 10Y*: 7.02%
• ALL TIME*: 6.04%

NIE

• 1D: 0.93%
• 1M: -1.82%
• 6M: 6.42%
• YTD: 8.69%
• 1Y: 20.42%
• 3Y*: 16.45%
• 5Y*: 9.57%
• 10Y*: 13.53%
• ALL TIME*: 9.44%

*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)
GIDHX Goldman Sachs International Equity Dividend and Premium Fund	$0.00	$0.00	$0.00
NIE Virtus Equity & Convertible Income Fund	$1.43M	$1.33M	$1.69M

GIDHX vs. NIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIDHX Goldman Sachs International Equity Dividend and Premium Fund	13.24%	28.92%	-2.17%	16.16%	-13.41%	9.36%	1.20%	14.82%	-12.96%	23.84%
NIE Virtus Equity & Convertible Income Fund	8.69%	12.15%	28.64%	26.71%	-26.73%	18.89%	33.78%	31.09%	-5.69%	23.68%

Correlation

The correlation between GIDHX and NIE is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.65

The correlation between GIDHX and NIE has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

GIDHX vs. NIE — Risk / Return Rank

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

GIDHX

GIDHX Risk / Return Rank: 80
GIDHX Sharpe Ratio Rank: 75
GIDHX Sortino Ratio Rank: 76
GIDHX Omega Ratio Rank: 73
GIDHX Calmar Ratio Rank: 85
GIDHX Martin Ratio Rank: 89

NIE

NIE Risk / Return Rank: 64
NIE Sharpe Ratio Rank: 64
NIE Sortino Ratio Rank: 62
NIE Omega Ratio Rank: 60
NIE Calmar Ratio Rank: 64
NIE Martin Ratio Rank: 68

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.

GIDHX vs. NIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs International Equity Dividend and Premium Fund (GIDHX) and Virtus Equity & Convertible Income Fund (NIE). 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.

	GIDHX	NIE	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.54	+0.24
Sortino ratio: Return per unit of downside risk	2.60	2.18	+0.43
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio: Return relative to maximum drawdown	2.99	2.15	+0.84
Martin ratio: Return relative to average drawdown	12.07	8.40	+3.67

GIDHX vs. NIE - Sharpe Ratio Comparison

The current GIDHX Sharpe Ratio is 1.78, which is comparable to the NIE Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of GIDHX and NIE, 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

GIDHX vs. NIE - Drawdown Comparison

The maximum GIDHX drawdown since its inception was -36.19%, smaller than the maximum NIE drawdown of -57.90%. Use the drawdown chart below to compare losses from any high point for GIDHX and NIE.

Drawdown Indicators

	GIDHX	NIE	Difference
Max Drawdown Largest peak-to-trough decline	-36.19%	-57.90%	+21.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.99%	+0.85%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-20.79%	+7.91%
Max Drawdown (5Y) Largest decline over 5 years	-28.46%	-31.04%	+2.58%
Max Drawdown (10Y) Largest decline over 10 years	-36.19%	-38.99%	+2.80%
Current Drawdown Current decline from peak	0.00%	-3.39%	+3.39%
Average Drawdown Average peak-to-trough decline	-8.11%	-7.96%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.30%	-0.29%

Volatility

GIDHX vs. NIE - Volatility Comparison

Goldman Sachs International Equity Dividend and Premium Fund (GIDHX) and Virtus Equity & Convertible Income Fund (NIE) have volatilities of 4.07% and 3.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIDHX	NIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.96%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	10.47%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	12.59%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	17.67%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.17%	19.80%	-4.63%

GIDHX vs. NIE - Expense Ratio Comparison

GIDHX has a 0.89% expense ratio, which is lower than NIE's 1.12% expense ratio.

Dividends

GIDHX vs. NIE - Dividend Comparison

GIDHX's dividend yield for the trailing twelve months is around 2.85%, less than NIE's 10.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIDHX Goldman Sachs International Equity Dividend and Premium Fund	2.85%	2.58%	3.27%	3.56%	0.58%	3.09%	2.65%	3.24%	3.42%	2.54%	3.08%	4.13%
NIE Virtus Equity & Convertible Income Fund	10.04%	10.14%	8.11%	9.56%	21.81%	10.86%	5.37%	6.71%	8.20%	7.19%	8.25%	8.46%

Frequently Asked Questions

Can I hold both GIDHX and NIE in my portfolio?

GIDHX and NIE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIDHX or NIE?

GIDHX has higher volatility (4.07%) compared to NIE (3.96%). In terms of maximum drawdown, GIDHX dropped -36.19% vs NIE's -57.90%.

Which has better risk-adjusted returns?

GIDHX currently has the higher Sharpe Ratio (1.78 vs 1.54), 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.