GPIX vs. BALI

Last updated Jun 23, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, GPIX returned 24.71% vs 25.38% for BALI. Their correlation of 0.94 suggests significant overlap in exposure. GPIX charges 0.29%/yr vs 0.35%/yr for BALI.

Performance

GPIX vs. BALI - 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 Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIX achieves a 9.41% return, which is significantly lower than BALI's 10.07% return.

GPIX

• 1D: -0.25%
• 1M: 0.53%
• YTD: 9.41%
• 6M: 9.08%
• 1Y: 24.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALI

• 1D: -0.30%
• 1M: -0.31%
• YTD: 10.07%
• 6M: 10.01%
• 1Y: 25.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GPIX vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.41%	16.25%	21.77%	13.04%
BALI Blackrock Advantage Large Cap Income ETF	10.07%	14.51%	22.38%	11.11%

Correlation

The correlation between GPIX and BALI is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.94

The correlation between GPIX and BALI has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

GPIX vs. BALI - Sectors Allocation Comparison

Sectors	GPIX	BALI
Technology	39.2%	35.4%
Financial Services	10.9%	9.2%
Communication Services	10.7%	10.1%
Consumer Cyclical	10.1%	9.7%
Healthcare	8.3%	9.5%
Industrials	7.7%	7.0%
Consumer Defensive	4.4%	5.8%
Energy	3.2%	4.0%
Utilities	2.2%	2.0%
Real Estate	1.8%	2.1%
Basic Materials	1.7%	1.4%

Return for Risk

GPIX vs. BALI — Risk / Return Rank

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

GPIX

GPIX Risk / Return Rank: 75
GPIX Sharpe Ratio Rank: 75
GPIX Sortino Ratio Rank: 73
GPIX Omega Ratio Rank: 78
GPIX Calmar Ratio Rank: 67
GPIX Martin Ratio Rank: 82

BALI

BALI Risk / Return Rank: 81
BALI Sharpe Ratio Rank: 80
BALI Sortino Ratio Rank: 79
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 76
BALI Martin Ratio Rank: 88

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. BALI - 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 Blackrock Advantage Large Cap Income ETF (BALI). 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.

	GPIX	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.45	-0.13
Sortino ratio: Return per unit of downside risk	3.16	3.34	-0.19
Omega ratio: Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio: Return relative to maximum drawdown	3.22	3.80	-0.58
Martin ratio: Return relative to average drawdown	15.72	18.28	-2.56

GPIX vs. BALI - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.31, which is comparable to the BALI Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of GPIX and BALI, 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

GPIX vs. BALI - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for GPIX and BALI.

Drawdown Indicators

	GPIX	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-16.65%	-0.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-6.71%	-1.00%
Current Drawdown Current decline from peak	-0.93%	-1.44%	+0.51%
Average Drawdown Average peak-to-trough decline	-1.48%	-1.63%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.39%	+0.19%

Volatility

GPIX vs. BALI - Volatility Comparison

Goldman Sachs S&P 500 Premium Income ETF (GPIX) and Blackrock Advantage Large Cap Income ETF (BALI) have volatilities of 4.04% and 3.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	3.95%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	8.24%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	10.44%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	13.01%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.87%	13.01%	+0.86%

GPIX vs. BALI - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is lower than BALI's 0.35% expense ratio.

Dividends

GPIX vs. BALI - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 8.03%, more than BALI's 7.74% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.74%	8.51%	7.13%	2.13%
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.03%	8.01%	7.45%	1.40%

Frequently Asked Questions

Can I hold both GPIX and BALI in my portfolio?

With a correlation of 0.95, GPIX and BALI 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, GPIX or BALI?

GPIX has higher volatility (4.04%) compared to BALI (3.95%). In terms of maximum drawdown, GPIX dropped -17.50% vs BALI's -16.65%.

Which ETF is better, GPIX or BALI?

On 1-year performance, BALI leads with 25.38% vs 24.71% for GPIX. On fees, GPIX is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or BALI?

Over the 1-year period, BALI has performed better with a 25.38% return vs 24.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or BALI?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.35% for BALI.

Which ETF pays a higher dividend yield, GPIX or BALI?

GPIX has the higher dividend yield at 8.03%, compared with 7.74% for BALI.

What is the main difference between GPIX and BALI?

They also come from different issuers: Goldman Sachs and BlackRock. Their fees differ too: 0.29% for GPIX and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.45 vs 2.31), 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.