GPIX vs. SPLV

Last updated Jun 16, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and SPLV (Invesco S&P 500 Low Volatility ETF) are both exchange-traded funds - GPIX is a Derivative Income fund actively managed by Goldman Sachs, while SPLV is a S&P 500 fund tracking the S&P 500 Low Volatility Index. GPIX is actively managed, while SPLV is passively managed. Over the past year, GPIX returned 25.72% vs 4.71% for SPLV. At a 0.34 correlation, their price movements are largely independent. GPIX charges 0.29%/yr vs 0.25%/yr for SPLV.

Performance

GPIX vs. SPLV - 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 Invesco S&P 500 Low Volatility ETF (SPLV). 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 higher than SPLV's 4.85% return.

GPIX

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

SPLV

• 1D: -0.36%
• 1M: 2.76%
• YTD: 4.85%
• 6M: 4.17%
• 1Y: 4.71%
• 3Y*: 8.01%
• 5Y*: 6.29%
• 10Y*: 8.33%

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

GPIX vs. SPLV - 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%
SPLV Invesco S&P 500 Low Volatility ETF	4.85%	4.10%	13.93%	7.81%

Correlation

The correlation between GPIX and SPLV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.34

Over the past year, the correlation between GPIX and SPLV has dropped to 0.13 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

GPIX vs. SPLV - Sectors Allocation Comparison

Sectors	GPIX	SPLV
Technology	39.2%	0.8%
Financial Services	10.9%	21.3%
Communication Services	10.7%	0.8%
Consumer Cyclical	10.1%	4.0%
Healthcare	8.3%	4.0%
Industrials	7.7%	12.2%
Consumer Defensive	4.4%	9.4%
Energy	3.2%	2.7%
Utilities	2.2%	24.9%
Real Estate	1.8%	17.8%
Basic Materials	1.7%	2.1%

Return for Risk

GPIX vs. SPLV — 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

SPLV

SPLV Risk / Return Rank: 17
SPLV Sharpe Ratio Rank: 17
SPLV Sortino Ratio Rank: 16
SPLV Omega Ratio Rank: 15
SPLV Calmar Ratio Rank: 18
SPLV Martin Ratio Rank: 17

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. SPLV - 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 Invesco S&P 500 Low Volatility ETF (SPLV). 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	SPLV	Difference
Sharpe ratio: Return per unit of total volatility	2.42	0.47	+1.95
Sortino ratio: Return per unit of downside risk	3.30	0.73	+2.56
Omega ratio: Gain probability vs. loss probability	1.46	1.08	+0.38
Calmar ratio: Return relative to maximum drawdown	3.35	0.64	+2.71
Martin ratio: Return relative to average drawdown	16.40	1.50	+14.90

GPIX vs. SPLV - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.42, which is higher than the SPLV Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of GPIX and SPLV, 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. SPLV - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum SPLV drawdown of -36.26%. Use the drawdown chart below to compare losses from any high point for GPIX and SPLV.

Drawdown Indicators

	GPIX	SPLV	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-36.26%	+18.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-7.41%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.64%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.26%	—
Current Drawdown Current decline from peak	-0.14%	-3.66%	+3.52%
Average Drawdown Average peak-to-trough decline	-1.48%	-3.55%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	3.15%	-1.58%

Volatility

GPIX vs. SPLV - Volatility Comparison

Goldman Sachs S&P 500 Premium Income ETF (GPIX) and Invesco S&P 500 Low Volatility ETF (SPLV) have volatilities of 4.00% and 4.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	SPLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	4.03%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	7.20%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	10.08%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	12.51%	+1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	15.38%	-1.50%

GPIX vs. SPLV - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is higher than SPLV's 0.25% expense ratio.

Dividends

GPIX vs. SPLV - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 7.97%, more than SPLV's 2.15% 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%
SPLV Invesco S&P 500 Low Volatility ETF	2.15%	2.04%	1.88%	2.45%	2.11%	1.51%	2.12%	2.08%	2.18%	2.03%	2.03%	2.28%

Frequently Asked Questions

Can I hold both GPIX and SPLV in my portfolio?

GPIX and SPLV have a correlation of 0.13, 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 SPLV?

SPLV has higher volatility (4.03%) compared to GPIX (4.00%). In terms of maximum drawdown, GPIX dropped -17.50% vs SPLV's -36.26%.

Which ETF is better, GPIX or SPLV?

On 1-year performance, GPIX leads with 25.72% vs 4.71% for SPLV. On fees, SPLV is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or SPLV?

Over the 1-year period, GPIX has performed better with a 25.72% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or SPLV?

SPLV is cheaper with a 0.25% expense ratio, compared with 0.29% for GPIX.

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

GPIX has the higher dividend yield at 7.97%, compared with 2.15% for SPLV.

What is the main difference between GPIX and SPLV?

GPIX is categorized as Derivative Income, while SPLV is S&P 500. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.29% for GPIX and 0.25% for SPLV.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.42 vs 0.47), 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.