GPIQ vs. JUST

Last updated Aug 6, 2026

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and JUST (Goldman Sachs JUST U.S. Large Cap Equity ETF) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while JUST is a Large Cap Growth Equities fund tracking the JUST US Large Cap Diversified Index. GPIQ is actively managed, while JUST is passively managed. Over the past year, GPIQ returned 27.03% vs 25.83% for JUST. Their correlation of 0.90 means they have usually moved in the same direction. GPIQ charges 0.29%/yr vs 0.20%/yr for JUST.

Performance

GPIQ vs. JUST - 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 Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GPIQ having a 15.41% return and JUST slightly lower at 15.37%.

GPIQ

• 1D: -0.68%
• 1M: -0.86%
• 6M: 16.15%
• YTD: 15.41%
• 1Y: 27.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.47%

JUST

• 1D: -0.09%
• 1M: 3.44%
• 6M: 14.24%
• YTD: 15.37%
• 1Y: 25.83%
• 3Y*: 21.77%
• 5Y*: 12.93%
• 10Y*: —
• ALL TIME*: 14.87%

*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)
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	$96.19M	$82.14M	$83.71M
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	$426.25K	$476.15K	$729.52K

GPIQ vs. JUST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	15.41%	19.77%	23.22%	15.17%
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	15.37%	17.60%	23.73%	14.56%

Correlation

The correlation between GPIQ and JUST is 0.90, 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.	0.90
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.90

The correlation between GPIQ and JUST has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

GPIQ vs. JUST - Sectors Allocation Comparison

Sectors	GPIQ	JUST
Technology	60.7%	37.6%
Communication Services	11.8%	7.7%
Consumer Cyclical	10.1%	8.9%
Consumer Defensive	6.4%	5.1%
Industrials	4.2%	7.9%
Healthcare	3.7%	9.2%
Utilities	1.4%	2.5%
Basic Materials	1.1%	2.1%
Energy	0.5%	3.5%
Financial Services	0.2%	13.2%
Real Estate	0.1%	2.1%

Return for Risk

GPIQ vs. JUST — Risk / Return Rank

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

GPIQ

GPIQ Risk / Return Rank: 63
GPIQ Sharpe Ratio Rank: 59
GPIQ Sortino Ratio Rank: 56
GPIQ Omega Ratio Rank: 57
GPIQ Calmar Ratio Rank: 72
GPIQ Martin Ratio Rank: 71

JUST

JUST Risk / Return Rank: 78
JUST Sharpe Ratio Rank: 79
JUST Sortino Ratio Rank: 78
JUST Omega Ratio Rank: 77
JUST Calmar Ratio Rank: 74
JUST Martin Ratio Rank: 84

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.

GPIQ vs. JUST - 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 JUST U.S. Large Cap Equity ETF (JUST). 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	JUST	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.04	-0.42
Sortino ratio: Return per unit of downside risk	2.23	2.83	-0.60
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.85	2.96	-0.11
Martin ratio: Return relative to average drawdown	10.04	12.85	-2.82

GPIQ vs. JUST - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 1.62, which is comparable to the JUST Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of GPIQ and JUST, 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

GPIQ vs. JUST - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum JUST drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for GPIQ and JUST.

Drawdown Indicators

	GPIQ	JUST	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-33.83%	+12.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-8.76%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.72%	—
Current Drawdown Current decline from peak	-2.74%	-0.09%	-2.65%
Average Drawdown Average peak-to-trough decline	-2.34%	-5.03%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.01%	+0.69%

Volatility

GPIQ vs. JUST - Volatility Comparison

Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a higher volatility of 6.66% compared to Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) at 3.94%. This indicates that GPIQ's price experiences larger fluctuations and is considered to be riskier than JUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIQ	JUST	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	3.94%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	14.27%	10.11%	+4.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	12.74%	+4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.11%	16.90%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	19.03%	-0.92%

GPIQ vs. JUST - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is higher than JUST's 0.20% expense ratio.

Dividends

GPIQ vs. JUST - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 9.95%, more than JUST's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.95%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	0.92%	1.02%	1.11%	1.37%	1.51%	1.07%	1.36%	1.86%	1.11%

Frequently Asked Questions

Can I hold both GPIQ and JUST in my portfolio?

GPIQ and JUST have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPIQ or JUST?

GPIQ has higher volatility (6.66%) compared to JUST (3.94%). In terms of maximum drawdown, GPIQ dropped -21.06% vs JUST's -33.83%.

Which ETF is better, GPIQ or JUST?

On 1-year performance, GPIQ leads with 27.03% vs 25.83% for JUST. On fees, JUST is cheaper at 0.20% per year. On volatility, JUST has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIQ or JUST?

Over the 1-year period, GPIQ has performed better with a 27.03% return vs 25.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIQ or JUST?

JUST is cheaper with a 0.20% expense ratio, compared with 0.29% for GPIQ.

Which ETF pays a higher dividend yield, GPIQ or JUST?

GPIQ has the higher dividend yield at 9.95%, compared with 0.92% for JUST.

What is the main difference between GPIQ and JUST?

GPIQ is categorized as Nasdaq-100, while JUST is Large Cap Growth Equities. Their fees differ too: 0.29% for GPIQ and 0.20% for JUST.

Which has better risk-adjusted returns?

JUST currently has the higher Sharpe Ratio (2.04 vs 1.62), 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.