GPIX vs. JELM
GPIX (Goldman Sachs S&P 500 Premium Income ETF) and JELM (Janus Henderson Equity Linked Moderate Income ETF) are both Derivative Income funds. GPIX is passively managed, while JELM is actively managed. Their 0.03 correlation means their historical movements had little consistent relationship. GPIX charges 0.29%/yr vs 0.59%/yr for JELM.
Performance
GPIX vs. JELM - Performance Comparison
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Returns By Period
GPIX
- 1D
- -0.07%
- 1M
- 2.02%
- 6M
- 11.73%
- YTD
- 12.64%
- 1Y
- 22.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.64%
JELM
- 1D
- -0.10%
- 1M
- 1.05%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.42M | $57.17M | $53.50M | |
| $214.60K | $418.55K | $965.66K |
GPIX vs. JELM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 8.64% |
JELM Janus Henderson Equity Linked Moderate Income ETF | 2.24% |
Correlation
The correlation between GPIX and JELM is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026 | 0.03 |
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Return for Risk
GPIX vs. JELM — Risk / Return Rank
GPIX
JELM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GPIX vs. JELM - 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 Janus Henderson Equity Linked Moderate Income ETF (JELM). 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 | JELM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | — | — |
| Martin ratioReturn relative to average drawdown | 13.92 | — | — |
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Drawdowns
GPIX vs. JELM - Drawdown Comparison
The maximum GPIX drawdown since its inception was -17.50%, which is greater than JELM's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for GPIX and JELM.
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Drawdown Indicators
| GPIX | JELM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.50% | -0.69% | -16.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.35% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -0.21% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | — | — |
Volatility
GPIX vs. JELM - Volatility Comparison
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Volatility by Period
| GPIX | JELM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 9.05% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.09% | 3.67% | +7.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.76% | 3.67% | +10.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 3.67% | +10.09% |
GPIX vs. JELM - Expense Ratio Comparison
GPIX has a 0.29% expense ratio, which is lower than JELM's 0.59% expense ratio.
Dividends
GPIX vs. JELM - Dividend Comparison
GPIX's dividend yield for the trailing twelve months is around 8.05%, more than JELM's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 8.05% | 8.01% | 7.45% | 1.40% |
JELM Janus Henderson Equity Linked Moderate Income ETF | 1.21% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GPIX and JELM have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GPIX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GPIX is cheaper with a 0.29% expense ratio, compared with 0.59% for JELM.
GPIX has the higher dividend yield at 8.05%, compared with 1.21% for JELM.
They also come from different issuers: Goldman Sachs Asset Management and Janus Henderson. Their fees differ too: 0.29% for GPIX and 0.59% for JELM.
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