GPIX vs. IJR

Last updated Jun 16, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and IJR (iShares Core S&P Small-Cap ETF) are both exchange-traded funds - GPIX is a Derivative Income fund actively managed by Goldman Sachs, while IJR is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. GPIX is actively managed, while IJR is passively managed. Over the past year, GPIX returned 25.72% vs 37.16% for IJR. A 0.72 correlation means they provide meaningful diversification when combined. GPIX charges 0.29%/yr vs 0.06%/yr for IJR.

Performance

GPIX vs. IJR - 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 iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIX achieves a 10.28% return, which is significantly lower than IJR's 19.86% return.

GPIX

• 1D: 1.51%
• 1M: 2.08%
• YTD: 10.28%
• 6M: 10.95%
• 1Y: 25.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IJR

• 1D: 0.11%
• 1M: 7.39%
• YTD: 19.86%
• 6M: 16.97%
• 1Y: 37.16%
• 3Y*: 15.09%
• 5Y*: 6.35%
• 10Y*: 11.21%

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

GPIX vs. IJR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.28%	16.25%	21.77%	13.04%
IJR iShares Core S&P Small-Cap ETF	19.86%	5.89%	8.63%	22.93%

Correlation

The correlation between GPIX and IJR is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.72

The correlation between GPIX and IJR has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

GPIX vs. IJR - Sectors Allocation Comparison

Sectors	GPIX	IJR
Technology	39.2%	15.9%
Financial Services	10.9%	16.0%
Communication Services	10.7%	3.2%
Consumer Cyclical	10.1%	12.5%
Healthcare	8.3%	11.0%
Industrials	7.7%	16.0%
Consumer Defensive	4.4%	3.2%
Energy	3.2%	6.8%
Utilities	2.2%	1.9%
Real Estate	1.8%	7.5%
Basic Materials	1.7%	4.7%

Return for Risk

GPIX vs. IJR — Risk / Return Rank

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

GPIX

GPIX Risk / Return Rank: 83
GPIX Sharpe Ratio Rank: 84
GPIX Sortino Ratio Rank: 84
GPIX Omega Ratio Rank: 86
GPIX Calmar Ratio Rank: 73
GPIX Martin Ratio Rank: 86

IJR

IJR Risk / Return Rank: 77
IJR Sharpe Ratio Rank: 74
IJR Sortino Ratio Rank: 76
IJR Omega Ratio Rank: 68
IJR Calmar Ratio Rank: 86
IJR Martin Ratio Rank: 82

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. IJR - 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 iShares Core S&P Small-Cap ETF (IJR). 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	IJR	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.12	+0.31
Sortino ratio: Return per unit of downside risk	3.30	3.03	+0.27
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.10
Calmar ratio: Return relative to maximum drawdown	3.35	4.30	-0.95
Martin ratio: Return relative to average drawdown	16.40	14.44	+1.96

GPIX vs. IJR - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.42, which is comparable to the IJR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of GPIX and IJR, 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. IJR - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum IJR drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for GPIX and IJR.

Drawdown Indicators

	GPIX	IJR	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-58.15%	+40.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-8.68%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.36%	—
Current Drawdown Current decline from peak	-0.14%	0.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.48%	-9.27%	+7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	2.58%	-1.01%

Volatility

GPIX vs. IJR - Volatility Comparison

The current volatility for Goldman Sachs S&P 500 Premium Income ETF (GPIX) is 4.00%, while iShares Core S&P Small-Cap ETF (IJR) has a volatility of 5.17%. This indicates that GPIX experiences smaller price fluctuations and is considered to be less risky than IJR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	IJR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	5.17%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	11.93%	-3.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	17.67%	-6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	21.44%	-7.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	22.93%	-9.05%

GPIX vs. IJR - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

GPIX vs. IJR - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 7.97%, more than IJR's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.97%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IJR iShares Core S&P Small-Cap ETF	1.42%	1.44%	2.05%	1.31%	1.41%	1.53%	1.11%	1.44%	1.58%	1.20%	1.22%	1.48%

Frequently Asked Questions

Can I hold both GPIX and IJR in my portfolio?

GPIX and IJR have a correlation of 0.73, 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 IJR?

IJR has higher volatility (5.17%) compared to GPIX (4.00%). In terms of maximum drawdown, GPIX dropped -17.50% vs IJR's -58.15%.

Which ETF is better, GPIX or IJR?

On 1-year performance, IJR leads with 37.16% vs 25.72% for GPIX. On fees, IJR is cheaper at 0.06% per year. On volatility, GPIX has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or IJR?

Over the 1-year period, IJR has performed better with a 37.16% return vs 25.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or IJR?

IJR is cheaper with a 0.06% expense ratio, compared with 0.29% for GPIX.

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

GPIX has the higher dividend yield at 7.97%, compared with 1.42% for IJR.

What is the main difference between GPIX and IJR?

GPIX is categorized as Derivative Income, while IJR is Small Cap Blend Equities. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIX and 0.06% for IJR.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.42 vs 2.12), 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.