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GPIQ vs. IEFA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GPIQ vs. IEFA

Last updated Jul 26, 2026
Documentation

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). GPIQ is actively managed, while IEFA is passively managed. Over the past year, GPIQ returned 21.40% vs 17.75% for IEFA. Their 0.62 correlation means they have sometimes moved together and sometimes differently. GPIQ charges 0.29%/yr vs 0.07%/yr for IEFA.

Performance

GPIQ vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) and iShares Core MSCI EAFE ETF (IEFA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GPIQ achieves a 10.98% return, which is significantly higher than IEFA's 9.45% return.

GPIQ

1D
-1.08%
1M
-3.82%
6M
9.18%
YTD
10.98%
1Y
21.40%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
26.03%

IEFA

1D
0.61%
1M
0.32%
6M
4.92%
YTD
9.45%
1Y
17.75%
3Y*
15.52%
5Y*
8.55%
10Y*
9.38%
ALL TIME*
8.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

GPIQ

Goldman Sachs Nasdaq-100 Core Premium Income ETF
$68.84M$77.85M$80.88M

IEFA

iShares Core MSCI EAFE ETF
$895.79M$960.37M$950.39M

GPIQ vs. IEFA - Yearly Performance Comparison

2026 (YTD)202520242023
GPIQ
Goldman Sachs Nasdaq-100 Core Premium Income ETF		10.98%19.77%23.22%15.17%
IEFA
iShares Core MSCI EAFE ETF		9.45%32.08%3.26%15.33%

Correlation

The correlation between GPIQ and IEFA is 0.68, 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.

0.68

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2023

0.62

The correlation between GPIQ and IEFA has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

GPIQ vs. IEFA - Sectors Allocation Comparison

Sectors
GPIQ
IEFA

Technology

60.6%
12.1%

Communication Services

12.2%
3.4%

Consumer Cyclical

10.6%
7.3%

Consumer Defensive

6.2%
6.5%

Industrials

4.0%
19.3%

Healthcare

3.7%
10.0%

Utilities

1.3%
3.5%

Basic Materials

1.1%
6.2%

Energy

0.5%
3.7%

Financial Services

0.2%
25.5%

Real Estate

0.1%
2.2%

Technology

GPIQ
60.6%
IEFA
12.1%

Communication Services

GPIQ
12.2%
IEFA
3.4%

Consumer Cyclical

GPIQ
10.6%
IEFA
7.3%

Consumer Defensive

GPIQ
6.2%
IEFA
6.5%

Industrials

GPIQ
4.0%
IEFA
19.3%

Healthcare

GPIQ
3.7%
IEFA
10.0%

Utilities

GPIQ
1.3%
IEFA
3.5%

Basic Materials

GPIQ
1.1%
IEFA
6.2%

Energy

GPIQ
0.5%
IEFA
3.7%

Financial Services

GPIQ
0.2%
IEFA
25.5%

Real Estate

GPIQ
0.1%
IEFA
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Goldman Sachs Nasdaq-100 Core Premium Income ETF

iShares Core MSCI EAFE ETF

Often compared with GPIQ:
GPIQ vs. QQQIGPIQ vs. JEPQGPIQ vs. GPIXGPIQ vs. QDVOGPIQ vs. JEPIGPIQ vs. SCHDGPIQ vs. QQQM
Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS

Return for Risk

GPIQ vs. IEFA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GPIQ
GPIQ Risk / Return Rank: 6060
Overall Rank
GPIQ Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
GPIQ Sortino Ratio Rank: 5353
Sortino Ratio Rank
GPIQ Omega Ratio Rank: 5555
Omega Ratio Rank
GPIQ Calmar Ratio Rank: 6565
Calmar Ratio Rank
GPIQ Martin Ratio Rank: 7171
Martin Ratio Rank
IEFA
IEFA Risk / Return Rank: 4747
Overall Rank
IEFA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4747
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4646
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4343
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
Martin Ratio Rank
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.

GPIQ vs. IEFA - 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 Core MSCI EAFE ETF (IEFA). 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.

GPIQIEFADifference
Sharpe ratioReturn per unit of total volatility
1.34
1.14

+0.20

Sortino ratioReturn per unit of downside risk
1.85
1.67

+0.18

Omega ratioGain probability vs. loss probability

1.24

1.21

+0.03

Calmar ratioReturn relative to maximum drawdown

2.28

1.54

+0.74

Martin ratioReturn relative to average drawdown

8.75

5.85

+2.90

GPIQ vs. IEFA - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 1.34, which is comparable to the IEFA Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GPIQ and IEFA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GPIQ vs. IEFA - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for GPIQ and IEFA.

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Drawdown Indicators

GPIQIEFADifference

Max Drawdown

Largest peak-to-trough decline

-21.06%

-34.78%

+13.72%

Max Drawdown (1Y)

Largest decline over 1 year

-9.51%

-11.50%

+1.99%

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.76%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-30.41%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.78%

—

Current Drawdown

Current decline from peak

-6.47%

-2.00%

-4.47%

Average Drawdown

Average peak-to-trough decline

-2.30%

-6.63%

+4.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

3.02%

-0.55%

Volatility

GPIQ vs. IEFA - Volatility Comparison

Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a higher volatility of 6.13% compared to iShares Core MSCI EAFE ETF (IEFA) at 4.00%. This indicates that GPIQ's price experiences larger fluctuations and is considered to be riskier than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GPIQIEFADifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

4.00%

+2.13%

Volatility (6M)

Calculated over the trailing 6-month period

13.56%

13.48%

+0.08%

Volatility (1Y)

Calculated over the trailing 1-year period

16.22%

15.55%

+0.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.97%

16.59%

+1.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.97%

17.02%

+0.95%

GPIQ vs. IEFA - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is higher than IEFA's 0.07% expense ratio.

Dividends

GPIQ vs. IEFA - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 10.18%, more than IEFA's 3.41% yield.

PositionTTM20252024202320222021202020192018201720162015
GPIQ
Goldman Sachs Nasdaq-100 Core Premium Income ETF		10.18%9.81%9.18%1.74%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IEFA
iShares Core MSCI EAFE ETF		3.41%3.55%3.47%3.20%2.70%3.32%1.90%3.18%3.46%2.57%2.96%2.63%

Frequently Asked Questions

GPIQ and IEFA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GPIQ has higher volatility (6.13%) compared to IEFA (4.00%). In terms of maximum drawdown, GPIQ dropped -21.06% vs IEFA's -34.78%.

On 1-year performance, GPIQ leads with 21.40% vs 17.75% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 4.00%. 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 21.40% return vs 17.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEFA is cheaper with a 0.07% expense ratio, compared with 0.29% for GPIQ.

GPIQ has the higher dividend yield at 10.18%, compared with 3.41% for IEFA.

GPIQ is categorized as Nasdaq-100, while IEFA is Foreign Large Cap Equities. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIQ and 0.07% for IEFA.

GPIQ currently has the higher Sharpe Ratio (1.34 vs 1.14), 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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