GPIX vs. ITOT

Last updated Jul 26, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - GPIX is a Derivative Income fund actively managed by Goldman Sachs, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. GPIX is actively managed, while ITOT is passively managed. Over the past year, GPIX returned 17.54% vs 17.56% for ITOT. Their 0.98 correlation means they have historically moved very closely together. GPIX charges 0.29%/yr vs 0.03%/yr for ITOT.

Performance

GPIX vs. ITOT - 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 Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GPIX having a 9.04% return and ITOT slightly higher at 9.48%.

GPIX

• 1D: 0.09%
• 1M: 1.01%
• 6M: 7.83%
• YTD: 9.04%
• 1Y: 17.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.49%

ITOT

• 1D: 0.07%
• 1M: 0.48%
• 6M: 7.83%
• YTD: 9.48%
• 1Y: 17.56%
• 3Y*: 18.70%
• 5Y*: 11.47%
• 10Y*: 14.42%
• ALL TIME*: 10.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIX Goldman Sachs S&P 500 Premium Income ETF	$50.34M	$51.86M	$49.74M
ITOT iShares Core S&P Total U.S. Stock Market ETF	$228.53M	$259.55M	$322.53M

GPIX vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.04%	16.25%	21.77%	13.04%
ITOT iShares Core S&P Total U.S. Stock Market ETF	9.48%	17.00%	23.80%	15.60%

Correlation

The correlation between GPIX and ITOT is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.98

The correlation between GPIX and ITOT has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

GPIX vs. ITOT - Sectors Allocation Comparison

Sectors	GPIX	ITOT
Technology	38.5%	36.4%
Financial Services	11.9%	11.9%
Communication Services	9.5%	9.1%
Consumer Cyclical	9.5%	9.5%
Healthcare	8.9%	9.5%
Industrials	8.4%	9.9%
Consumer Defensive	4.7%	4.3%
Energy	3.0%	3.1%
Utilities	2.2%	2.2%
Real Estate	1.8%	2.3%
Basic Materials	1.7%	1.9%

Return for Risk

GPIX vs. ITOT — Risk / Return Rank

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

GPIX

GPIX Risk / Return Rank: 73
GPIX Sharpe Ratio Rank: 72
GPIX Sortino Ratio Rank: 71
GPIX Omega Ratio Rank: 73
GPIX Calmar Ratio Rank: 67
GPIX Martin Ratio Rank: 82

ITOT

ITOT Risk / Return Rank: 61
ITOT Sharpe Ratio Rank: 60
ITOT Sortino Ratio Rank: 58
ITOT Omega Ratio Rank: 58
ITOT Calmar Ratio Rank: 58
ITOT Martin Ratio Rank: 71

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. ITOT - 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 Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.40	+0.24
Sortino ratio: Return per unit of downside risk	2.30	1.97	+0.33
Omega ratio: Gain probability vs. loss probability	1.30	1.25	+0.05
Calmar ratio: Return relative to maximum drawdown	2.33	2.04	+0.30
Martin ratio: Return relative to average drawdown	11.09	8.79	+2.30

GPIX vs. ITOT - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 1.64, which is comparable to the ITOT Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of GPIX and ITOT, 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. ITOT - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for GPIX and ITOT.

Drawdown Indicators

	GPIX	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-55.20%	+37.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-8.90%	+1.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-1.65%	-2.31%	+0.66%
Average Drawdown Average peak-to-trough decline	-1.46%	-6.94%	+5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	2.06%	-0.44%

Volatility

GPIX vs. ITOT - Volatility Comparison

The current volatility for Goldman Sachs S&P 500 Premium Income ETF (GPIX) is 2.63%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 3.06%. This indicates that GPIX experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	3.06%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	8.74%	10.02%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	12.94%	-1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.75%	17.44%	-3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.75%	18.25%	-4.50%

GPIX vs. ITOT - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

GPIX vs. ITOT - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 8.19%, more than ITOT's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.19%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.02%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both GPIX and ITOT in my portfolio?

With a correlation of 0.99, GPIX and ITOT 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 ITOT?

ITOT has higher volatility (3.06%) compared to GPIX (2.63%). In terms of maximum drawdown, GPIX dropped -17.50% vs ITOT's -55.20%.

Which ETF is better, GPIX or ITOT?

On 1-year performance, ITOT leads with 17.56% vs 17.54% for GPIX. On fees, ITOT is cheaper at 0.03% per year. On volatility, GPIX has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or ITOT?

Over the 1-year period, ITOT has performed better with a 17.56% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.29% for GPIX.

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

GPIX has the higher dividend yield at 8.19%, compared with 1.02% for ITOT.

What is the main difference between GPIX and ITOT?

GPIX is categorized as Derivative Income, while ITOT is Large Cap Blend Equities. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.29% for GPIX and 0.03% for ITOT.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.64 vs 1.40), 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.