GPIX vs. AMZN

Last updated Jun 9, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) is Derivative Income fund actively managed by Goldman Sachs, while AMZN (Amazon.com, Inc) is a stock. Over the past year, GPIX returned 22.98% vs 14.82% for AMZN. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

GPIX vs. AMZN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs S&P 500 Premium Income ETF (GPIX) and Amazon.com, Inc (AMZN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIX achieves a 8.17% return, which is significantly higher than AMZN's 6.24% return.

GPIX

• 1D: 0.29%
• 1M: 0.38%
• YTD: 8.17%
• 6M: 8.56%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMZN

• 1D: -0.33%
• 1M: -10.07%
• YTD: 6.24%
• 6M: 8.08%
• 1Y: 14.82%
• 3Y*: 25.71%
• 5Y*: 8.37%
• 10Y*: 21.19%

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

GPIX vs. AMZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.17%	16.25%	21.77%	13.45%
AMZN Amazon.com, Inc	6.24%	5.21%	44.39%	27.07%

Correlation

The correlation between GPIX and AMZN is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.64

The correlation between GPIX and AMZN has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

GPIX vs. AMZN — Risk / Return Rank

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

GPIX

GPIX Risk / Return Rank: 76
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 79
GPIX Calmar Ratio Rank: 66
GPIX Martin Ratio Rank: 82

AMZN

AMZN Risk / Return Rank: 56
AMZN Sharpe Ratio Rank: 59
AMZN Sortino Ratio Rank: 53
AMZN Omega Ratio Rank: 51
AMZN Calmar Ratio Rank: 58
AMZN Martin Ratio Rank: 59

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.

GPIX vs. AMZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs S&P 500 Premium Income ETF (GPIX) and Amazon.com, Inc (AMZN). 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.

	GPIX	AMZN	Difference
Sharpe ratio: Return per unit of total volatility	2.22	0.49	+1.73
Sortino ratio: Return per unit of downside risk	3.03	0.89	+2.13
Omega ratio: Gain probability vs. loss probability	1.42	1.11	+0.31
Calmar ratio: Return relative to maximum drawdown	2.99	0.68	+2.31
Martin ratio: Return relative to average drawdown	14.96	1.64	+13.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPIX vs. AMZN - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.22, which is higher than the AMZN Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of GPIX and AMZN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GPIX	AMZN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	0.49	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	0.56	+1.15

Drawdowns

GPIX vs. AMZN - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for GPIX and AMZN.

Drawdown Indicators

	GPIX	AMZN	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-94.40%	+76.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-21.74%	+14.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.15%	—
Current Drawdown Current decline from peak	-2.06%	-10.83%	+8.77%
Average Drawdown Average peak-to-trough decline	-1.48%	-28.12%	+26.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	9.08%	-7.54%

Volatility

GPIX vs. AMZN - Volatility Comparison

The current volatility for Goldman Sachs S&P 500 Premium Income ETF (GPIX) is 3.07%, while Amazon.com, Inc (AMZN) has a volatility of 7.80%. This indicates that GPIX experiences smaller price fluctuations and is considered to be less risky than AMZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	AMZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	7.80%	-4.73%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	20.58%	-12.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	30.13%	-19.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	35.53%	-21.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	32.48%	-18.64%

Dividends

GPIX vs. AMZN - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 8.13%, while AMZN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AMZN Amazon.com, Inc	0.00%	0.00%	0.00%	0.00%
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.13%	8.01%	7.45%	1.40%

Frequently Asked Questions

Can I hold both GPIX and AMZN in my portfolio?

GPIX and AMZN have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPIX or AMZN?

AMZN has higher volatility (7.80%) compared to GPIX (3.07%). In terms of maximum drawdown, GPIX dropped -17.50% vs AMZN's -94.40%.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.22 vs 0.49), 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.