GPIQ vs. GSG
GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. GPIQ is actively managed, while GSG is passively managed. Over the past year, GPIQ returned 21.40% vs 46.16% for GSG. Their 0.02 correlation means their historical movements had little consistent relationship. GPIQ charges 0.29%/yr vs 0.75%/yr for GSG.
Performance
GPIQ vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, GPIQ achieves a 10.98% return, which is significantly lower than GSG's 42.11% return.
GPIQ
- 1D
- -1.08%
- 1M
- -3.82%
- 6M
- 9.18%
- YTD
- 10.98%
- 1Y
- 21.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.03%
GSG
- 1D
- -1.12%
- 1M
- 13.47%
- 6M
- 32.35%
- YTD
- 42.11%
- 1Y
- 46.16%
- 3Y*
- 15.32%
- 5Y*
- 15.35%
- 10Y*
- 8.71%
- ALL TIME*
- -2.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $68.84M | $77.85M | $80.88M | |
| $14.36M | $16.94M | $27.13M |
GPIQ vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF | 10.98% | 19.77% | 23.22% | 15.17% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.11% | 5.93% | 8.52% | -8.74% |
Correlation
The correlation between GPIQ and GSG is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023 | 0.02 |
The correlation between GPIQ and GSG shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GPIQ vs. GSG — Risk / Return Rank
GPIQ
GSG
GPIQ vs. GSG - 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 iShares S&P GSCI Commodity-Indexed Trust (GSG). 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.
| GPIQ | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.39 | -0.11 |
| Martin ratioReturn relative to average drawdown | 8.75 | 7.82 | +0.93 |
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Drawdowns
GPIQ vs. GSG - Drawdown Comparison
The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for GPIQ and GSG.
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Drawdown Indicators
| GPIQ | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -89.62% | +68.56% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -18.81% | +9.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -6.47% | -57.10% | +50.63% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -63.68% | +61.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 5.75% | -3.28% |
Volatility
GPIQ vs. GSG - Volatility Comparison
The current volatility for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) is 6.13%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 6.47%. This indicates that GPIQ experiences smaller price fluctuations and is considered to be less risky than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPIQ | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 6.47% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 21.68% | -8.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.22% | 23.69% | -7.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 22.75% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.97% | 22.01% | -4.04% |
GPIQ vs. GSG - Expense Ratio Comparison
GPIQ has a 0.29% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
GPIQ vs. GSG - Dividend Comparison
GPIQ's dividend yield for the trailing twelve months is around 10.18%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF | 10.18% | 9.81% | 9.18% | 1.74% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GPIQ and GSG have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (6.47%) compared to GPIQ (6.13%). In terms of maximum drawdown, GPIQ dropped -21.06% vs GSG's -89.62%.
On 1-year performance, GSG leads with 46.16% vs 21.40% for GPIQ. On fees, GPIQ is cheaper at 0.29% per year. On volatility, GPIQ has been the lower-risk option at 6.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 46.16% return vs 21.40%. 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 0.75% for GSG.
GPIQ has the higher dividend yield at 10.18%, compared with 0.00% for GSG.
GPIQ is categorized as Nasdaq-100, while GSG is Commodities. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIQ and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.90 vs 1.34), 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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