GPIX vs. HDLB
Compare and contrast key facts about Goldman Sachs S&P 500 Core Premium Income ETF (GPIX) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB).
GPIX and HDLB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GPIX is an actively managed fund by Goldman Sachs. It was launched on Oct 24, 2023. HDLB is a passively managed fund by UBS that tracks the performance of the Solactive US High Dividend Low Volatility (USD)(TR) (200%). It was launched on Oct 24, 2019.
Performance
GPIX vs. HDLB - Performance Comparison
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GPIX vs. HDLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Core Premium Income ETF | -2.58% | 16.25% | 21.77% | 13.45% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 15.23% | 27.26% | 28.21% | 26.26% |
Returns By Period
In the year-to-date period, GPIX achieves a -2.58% return, which is significantly lower than HDLB's 15.23% return.
GPIX
- 1D
- 0.63%
- 1M
- -3.83%
- YTD
- -2.58%
- 6M
- 0.32%
- 1Y
- 17.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDLB
- 1D
- -2.03%
- 1M
- -9.81%
- YTD
- 15.23%
- 6M
- 5.83%
- 1Y
- 18.66%
- 3Y*
- 24.29%
- 5Y*
- 14.62%
- 10Y*
- —
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GPIX vs. HDLB - Expense Ratio Comparison
GPIX has a 0.29% expense ratio, which is lower than HDLB's 1.65% expense ratio.
Return for Risk
GPIX vs. HDLB — Risk / Return Rank
GPIX
HDLB
GPIX vs. HDLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs S&P 500 Core Premium Income ETF (GPIX) and ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB). 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 | HDLB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.57 | +0.44 |
Sortino ratioReturn per unit of downside risk | 1.54 | 0.95 | +0.60 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.53 | 0.86 | +0.66 |
Martin ratioReturn relative to average drawdown | 7.95 | 2.89 | +5.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GPIX | HDLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.57 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 0.12 | +1.34 |
Correlation
The correlation between GPIX and HDLB is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GPIX vs. HDLB - Dividend Comparison
GPIX's dividend yield for the trailing twelve months is around 8.66%, less than HDLB's 11.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Core Premium Income ETF | 8.66% | 8.01% | 7.45% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 11.03% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Drawdowns
GPIX vs. HDLB - Drawdown Comparison
The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum HDLB drawdown of -78.70%. Use the drawdown chart below to compare losses from any high point for GPIX and HDLB.
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Drawdown Indicators
| GPIX | HDLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.50% | -78.70% | +61.20% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -20.94% | +9.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.81% | — |
Current DrawdownCurrent decline from peak | -4.53% | -9.81% | +5.28% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -27.92% | +26.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 6.26% | -4.04% |
Volatility
GPIX vs. HDLB - Volatility Comparison
The current volatility for Goldman Sachs S&P 500 Core Premium Income ETF (GPIX) is 5.11%, while ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a volatility of 8.40%. This indicates that GPIX experiences smaller price fluctuations and is considered to be less risky than HDLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GPIX | HDLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 8.40% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.44% | 20.47% | -12.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.02% | 32.76% | -15.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.06% | 30.43% | -16.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 43.94% | -29.88% |