GPIQ vs. GHYB
GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index. GPIQ is actively managed, while GHYB is passively managed. Over the past year, GPIQ returned 37.50% vs 6.91% for GHYB. A 0.56 correlation means they provide meaningful diversification when combined. GPIQ charges 0.29%/yr vs 0.34%/yr for GHYB.
Performance
GPIQ vs. GHYB - Performance Comparison
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Returns By Period
In the year-to-date period, GPIQ achieves a 18.30% return, which is significantly higher than GHYB's 1.16% return.
GPIQ
- 1D
- -0.19%
- 1M
- 8.51%
- YTD
- 18.30%
- 6M
- 17.64%
- 1Y
- 37.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GHYB
- 1D
- -0.36%
- 1M
- 0.33%
- YTD
- 1.16%
- 6M
- 1.43%
- 1Y
- 6.91%
- 3Y*
- 8.55%
- 5Y*
- 3.99%
- 10Y*
- —
GPIQ vs. GHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF | 18.30% | 19.77% | 23.22% | 15.38% |
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.16% | 9.38% | 7.76% | 8.11% |
Correlation
The correlation between GPIQ and GHYB is 0.63, 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 | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023 | 0.56 |
The correlation between GPIQ and GHYB has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
GPIQ vs. GHYB — Risk / Return Rank
GPIQ
GHYB
GPIQ vs. GHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). 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.
| GPIQ | GHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.38 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 2.59 | +1.36 |
| Martin ratioReturn relative to average drawdown | 17.48 | 11.87 | +5.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GPIQ | GHYB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.81 | 1.98 | +0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.78 | 0.55 | +1.24 |
Drawdowns
GPIQ vs. GHYB - Drawdown Comparison
The maximum GPIQ drawdown since its inception was -21.06%, roughly equal to the maximum GHYB drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for GPIQ and GHYB.
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Drawdown Indicators
| GPIQ | GHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -21.48% | +0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -2.67% | -6.84% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.08% | — |
Current DrawdownCurrent decline from peak | -0.19% | -0.36% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -2.57% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.58% | +1.57% |
Volatility
GPIQ vs. GHYB - Volatility Comparison
Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a higher volatility of 3.39% compared to Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) at 1.08%. This indicates that GPIQ's price experiences larger fluctuations and is considered to be riskier than GHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPIQ | GHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 1.08% | +2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 2.72% | +7.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.40% | 3.51% | +9.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.47% | 7.69% | +9.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 8.28% | +9.19% |
GPIQ vs. GHYB - Expense Ratio Comparison
GPIQ has a 0.29% expense ratio, which is lower than GHYB's 0.34% expense ratio.
Dividends
GPIQ vs. GHYB - Dividend Comparison
GPIQ's dividend yield for the trailing twelve months is around 9.32%, more than GHYB's 6.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.81% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% |
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF | 9.32% | 9.81% | 9.18% | 1.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GPIQ and GHYB have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GPIQ has higher volatility (3.39%) compared to GHYB (1.08%). In terms of maximum drawdown, GPIQ dropped -21.06% vs GHYB's -21.48%.
On 1-year performance, GPIQ leads with 37.50% vs 6.91% for GHYB. On fees, GPIQ is cheaper at 0.29% per year. On volatility, GHYB has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GPIQ has performed better with a 37.50% return vs 6.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GPIQ is cheaper with a 0.29% expense ratio, compared with 0.34% for GHYB.
GPIQ has the higher dividend yield at 9.32%, compared with 6.81% for GHYB.
GPIQ is categorized as Nasdaq-100, while GHYB is High Yield Bonds. Their fees differ too: 0.29% for GPIQ and 0.34% for GHYB.
GPIQ currently has the higher Sharpe Ratio (2.81 vs 1.98), 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.
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