PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
GPIQ vs. MTUM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GPIQ vs. MTUM

Last updated Jul 26, 2026
Documentation

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and MTUM (iShares MSCI USA Momentum Factor ETF) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while MTUM is a Momentum fund tracking the MSCI USA Momentum SR Variant Index. GPIQ is actively managed, while MTUM is passively managed. Over the past year, GPIQ returned 21.40% vs 27.88% for MTUM. Their correlation of 0.87 means they have usually moved in the same direction. GPIQ charges 0.29%/yr vs 0.15%/yr for MTUM.

Performance

GPIQ vs. MTUM - 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 MSCI USA Momentum Factor ETF (MTUM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, GPIQ achieves a 10.98% return, which is significantly lower than MTUM's 22.65% return.

GPIQ

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

MTUM

1D
-2.42%
1M
-9.70%
6M
20.16%
YTD
22.65%
1Y
27.88%
3Y*
28.98%
5Y*
13.15%
10Y*
16.00%
ALL TIME*
15.84%
*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

MTUM

iShares MSCI USA Momentum Factor ETF
$620.00M$622.73M$495.72M

GPIQ vs. MTUM - Yearly Performance Comparison

2026 (YTD)202520242023
GPIQ
Goldman Sachs Nasdaq-100 Core Premium Income ETF		10.98%19.77%23.22%15.17%
MTUM
iShares MSCI USA Momentum Factor ETF		22.65%22.15%32.89%14.16%

Correlation

The correlation between GPIQ and MTUM is 0.87, 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.

0.87

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

0.87

The correlation between GPIQ and MTUM has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

GPIQ vs. MTUM - Sectors Allocation Comparison

Sectors
GPIQ
MTUM

Technology

60.6%
48.0%

Communication Services

12.2%
4.9%

Consumer Cyclical

10.6%
3.0%

Consumer Defensive

6.2%
3.9%

Industrials

4.0%
15.3%

Healthcare

3.7%
4.0%

Utilities

1.3%
0.6%

Basic Materials

1.1%
2.1%

Energy

0.5%
11.3%

Financial Services

0.2%
5.2%

Real Estate

0.1%
1.5%

Technology

GPIQ
60.6%
MTUM
48.0%

Communication Services

GPIQ
12.2%
MTUM
4.9%

Consumer Cyclical

GPIQ
10.6%
MTUM
3.0%

Consumer Defensive

GPIQ
6.2%
MTUM
3.9%

Industrials

GPIQ
4.0%
MTUM
15.3%

Healthcare

GPIQ
3.7%
MTUM
4.0%

Utilities

GPIQ
1.3%
MTUM
0.6%

Basic Materials

GPIQ
1.1%
MTUM
2.1%

Energy

GPIQ
0.5%
MTUM
11.3%

Financial Services

GPIQ
0.2%
MTUM
5.2%

Real Estate

GPIQ
0.1%
MTUM
1.5%

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 MSCI USA Momentum Factor ETF

Often compared with GPIQ:
GPIQ vs. QQQIGPIQ vs. JEPQGPIQ vs. GPIXGPIQ vs. QDVOGPIQ vs. JEPIGPIQ vs. SCHDGPIQ vs. QQQM
Often compared with MTUM:
MTUM vs. SPMOMTUM vs. SPYMTUM vs. QQQMTUM vs. QUALMTUM vs. VFMOMTUM vs. VOOMTUM vs. QMOM

Return for Risk

GPIQ vs. MTUM — 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
MTUM
MTUM Risk / Return Rank: 5555
Overall Rank
MTUM Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
MTUM Sortino Ratio Rank: 4646
Sortino Ratio Rank
MTUM Omega Ratio Rank: 5050
Omega Ratio Rank
MTUM Calmar Ratio Rank: 6666
Calmar Ratio Rank
MTUM Martin Ratio Rank: 6262
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. MTUM - 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 MSCI USA Momentum Factor ETF (MTUM). 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.

GPIQMTUMDifference
Sharpe ratioReturn per unit of total volatility
1.34
1.18

+0.16

Sortino ratioReturn per unit of downside risk
1.85
1.66

+0.20

Omega ratioGain probability vs. loss probability

1.24

1.22

+0.02

Calmar ratioReturn relative to maximum drawdown

2.28

2.31

-0.03

Martin ratioReturn relative to average drawdown

8.75

7.45

+1.30

GPIQ vs. MTUM - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 1.34, which is comparable to the MTUM Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of GPIQ and MTUM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

GPIQ vs. MTUM - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum MTUM drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for GPIQ and MTUM.

Loading charts...

Drawdown Indicators

GPIQMTUMDifference

Max Drawdown

Largest peak-to-trough decline

-21.06%

-34.08%

+13.02%

Max Drawdown (1Y)

Largest decline over 1 year

-9.51%

-12.49%

+2.98%

Max Drawdown (3Y)

Largest decline over 3 years

—

-20.99%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-32.28%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.08%

—

Current Drawdown

Current decline from peak

-6.47%

-11.25%

+4.78%

Average Drawdown

Average peak-to-trough decline

-2.30%

-6.20%

+3.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

3.87%

-1.40%

Volatility

GPIQ vs. MTUM - Volatility Comparison

The current volatility for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) is 6.13%, while iShares MSCI USA Momentum Factor ETF (MTUM) has a volatility of 11.65%. This indicates that GPIQ experiences smaller price fluctuations and is considered to be less risky than MTUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

GPIQMTUMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

11.65%

-5.52%

Volatility (6M)

Calculated over the trailing 6-month period

13.56%

22.19%

-8.63%

Volatility (1Y)

Calculated over the trailing 1-year period

16.22%

24.47%

-8.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.97%

21.65%

-3.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.97%

21.60%

-3.63%

GPIQ vs. MTUM - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is higher than MTUM's 0.15% expense ratio.

Dividends

GPIQ vs. MTUM - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 10.18%, more than MTUM's 0.60% 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%
MTUM
iShares MSCI USA Momentum Factor ETF		0.60%0.91%0.75%1.35%1.80%0.55%0.83%1.48%1.27%1.02%1.43%1.12%

Frequently Asked Questions

GPIQ and MTUM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MTUM has higher volatility (11.65%) compared to GPIQ (6.13%). In terms of maximum drawdown, GPIQ dropped -21.06% vs MTUM's -34.08%.

On 1-year performance, MTUM leads with 27.88% vs 21.40% for GPIQ. On fees, MTUM is cheaper at 0.15% 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, MTUM has performed better with a 27.88% return vs 21.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MTUM is cheaper with a 0.15% expense ratio, compared with 0.29% for GPIQ.

GPIQ has the higher dividend yield at 10.18%, compared with 0.60% for MTUM.

GPIQ is categorized as Nasdaq-100, while MTUM is Momentum. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIQ and 0.15% for MTUM.

GPIQ currently has the higher Sharpe Ratio (1.34 vs 1.18), 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.

Portfolio Optimizer

Find the right allocation for GPIQ and MTUM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer