GPIX vs. PIT

Last updated Jun 23, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - GPIX is a Derivative Income fund actively managed by Goldman Sachs, while PIT is a Commodities fund actively managed by VanEck. Both are actively managed. Over the past year, GPIX returned 24.71% vs 38.33% for PIT. At a 0.02 correlation, their price movements are largely independent. GPIX charges 0.29%/yr vs 0.55%/yr for PIT.

Performance

GPIX vs. PIT - 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 VanEck Commodity Strategy ETF (PIT). 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 PIT's 27.31% return.

GPIX

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

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

GPIX vs. PIT - 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%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-7.09%

Correlation

The correlation between GPIX and PIT is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.02

The correlation between GPIX and PIT shifts across timeframes, from -0.09 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GPIX vs. PIT — 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

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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. PIT - 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 VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.78	+0.53
Sortino ratio: Return per unit of downside risk	3.16	2.32	+0.84
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.12
Calmar ratio: Return relative to maximum drawdown	3.22	2.74	+0.48
Martin ratio: Return relative to average drawdown	15.72	10.88	+4.84

GPIX vs. PIT - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.31, which is comparable to the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of GPIX and PIT, 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. PIT - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for GPIX and PIT.

Drawdown Indicators

	GPIX	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-14.05%	-3.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-14.05%	+6.34%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.05%	—
Current Drawdown Current decline from peak	-0.93%	-14.05%	+13.12%
Average Drawdown Average peak-to-trough decline	-1.48%	-4.07%	+2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	3.59%	-2.01%

Volatility

GPIX vs. PIT - Volatility Comparison

The current volatility for Goldman Sachs S&P 500 Premium Income ETF (GPIX) is 4.04%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that GPIX experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	4.67%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	19.36%	-10.71%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	21.66%	-10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	17.50%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.87%	17.50%	-3.63%

GPIX vs. PIT - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

GPIX vs. PIT - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 8.03%, more than PIT's 7.00% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.03%	8.01%	7.45%	1.40%
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both GPIX and PIT in my portfolio?

GPIX and PIT have a correlation of -0.09, 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 PIT?

PIT has higher volatility (4.67%) compared to GPIX (4.04%). In terms of maximum drawdown, GPIX dropped -17.50% vs PIT's -14.05%.

Which ETF is better, GPIX or PIT?

On 1-year performance, PIT leads with 38.33% vs 24.71% for GPIX. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or PIT?

Over the 1-year period, PIT has performed better with a 38.33% 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 PIT?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.55% for PIT.

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

GPIX has the higher dividend yield at 8.03%, compared with 7.00% for PIT.

What is the main difference between GPIX and PIT?

GPIX is categorized as Derivative Income, while PIT is Commodities. They also come from different issuers: Goldman Sachs and VanEck. Their fees differ too: 0.29% for GPIX and 0.55% for PIT.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.31 vs 1.78), 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.