GPIQ vs. XLK

Last updated Jun 13, 2026

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. GPIQ is actively managed, while XLK is passively managed. Over the past year, GPIQ returned 33.15% vs 53.24% for XLK. Their correlation of 0.94 suggests significant overlap in exposure. GPIQ charges 0.29%/yr vs 0.08%/yr for XLK.

Performance

GPIQ vs. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIQ achieves a 15.73% return, which is significantly lower than XLK's 28.52% return.

GPIQ

• 1D: 0.71%
• 1M: 1.26%
• YTD: 15.73%
• 6M: 16.33%
• 1Y: 33.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLK

• 1D: 0.87%
• 1M: 4.50%
• YTD: 28.52%
• 6M: 28.96%
• 1Y: 53.24%
• 3Y*: 30.28%
• 5Y*: 22.02%
• 10Y*: 25.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GPIQ vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	15.73%	19.77%	23.22%	15.17%
XLK State Street Technology Select Sector SPDR ETF	28.52%	24.61%	21.63%	18.12%

Correlation

The correlation between GPIQ and XLK is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.94

The correlation between GPIQ and XLK has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

GPIQ vs. XLK - Sectors Allocation Comparison

Sectors	GPIQ	XLK
Technology	53.8%	99.7%
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.9%	0.1%
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	0.2%
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

GPIQ vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 83
GPIQ Sortino Ratio Rank: 78
GPIQ Omega Ratio Rank: 81
GPIQ Calmar Ratio Rank: 78
GPIQ Martin Ratio Rank: 84

XLK

XLK Risk / Return Rank: 76
XLK Sharpe Ratio Rank: 85
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 78
XLK Calmar Ratio Rank: 75
XLK Martin Ratio Rank: 68

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. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.37	-0.08
Sortino ratio: Return per unit of downside risk	3.00	2.92	+0.09
Omega ratio: Gain probability vs. loss probability	1.42	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	3.50	3.36	+0.14
Martin ratio: Return relative to average drawdown	14.86	10.85	+4.01

GPIQ vs. XLK - Sharpe Ratio Comparison

The current GPIQ Sharpe Ratio is 2.29, which is comparable to the XLK Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of GPIQ and XLK, 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. XLK - Drawdown Comparison

The maximum GPIQ drawdown since its inception was -21.06%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for GPIQ and XLK.

Drawdown Indicators

	GPIQ	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-82.05%	+60.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-15.92%	+6.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-2.35%	-6.77%	+4.42%
Average Drawdown Average peak-to-trough decline	-2.28%	-34.93%	+32.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	4.92%	-2.68%

Volatility

GPIQ vs. XLK - Volatility Comparison

The current volatility for Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) is 6.42%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.86%. This indicates that GPIQ experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIQ	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.42%	10.86%	-4.44%
Volatility (6M) Calculated over the trailing 6-month period	11.92%	18.92%	-7.00%
Volatility (1Y) Calculated over the trailing 1-year period	14.53%	22.55%	-8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	25.18%	-7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	24.64%	-6.92%

GPIQ vs. XLK - Expense Ratio Comparison

GPIQ has a 0.29% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

GPIQ vs. XLK - Dividend Comparison

GPIQ's dividend yield for the trailing twelve months is around 9.53%, more than XLK's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.53%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.41%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both GPIQ and XLK in my portfolio?

With a correlation of 0.93, GPIQ and XLK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GPIQ or XLK?

XLK has higher volatility (10.86%) compared to GPIQ (6.42%). In terms of maximum drawdown, GPIQ dropped -21.06% vs XLK's -82.05%.

Which ETF is better, GPIQ or XLK?

On 1-year performance, XLK leads with 53.24% vs 33.15% for GPIQ. On fees, XLK is cheaper at 0.08% per year. On volatility, GPIQ has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIQ or XLK?

Over the 1-year period, XLK has performed better with a 53.24% return vs 33.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIQ or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.29% for GPIQ.

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

GPIQ has the higher dividend yield at 9.53%, compared with 0.41% for XLK.

What is the main difference between GPIQ and XLK?

GPIQ is categorized as Nasdaq-100, while XLK is Technology Equities. They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.29% for GPIQ and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.37 vs 2.29), 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.