GPIX vs. USD=X

Last updated Jun 9, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) is Derivative Income fund actively managed by Goldman Sachs, while USD=X (USD Cash) is a currency. Over the past year, GPIX returned 22.98% vs 0.00% for USD=X.

Performance

GPIX vs. USD=X - 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 USD Cash (USD=X). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GPIX

• 1D: 0.29%
• 1M: 0.38%
• YTD: 8.17%
• 6M: 8.56%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

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

GPIX vs. USD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.17%	16.25%	21.77%	13.45%
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%

Return for Risk

GPIX vs. USD=X — Risk / Return Rank

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

GPIX

GPIX Risk / Return Rank: 76
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 79
GPIX Calmar Ratio Rank: 66
GPIX 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. USD=X - 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 USD Cash (USD=X). 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.

	GPIX	USD=X	Difference
Sharpe ratio: Return per unit of total volatility	2.22	—	—
Sortino ratio: Return per unit of downside risk	3.03	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	2.99	—	—
Martin ratio: Return relative to average drawdown	14.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GPIX	USD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	—	—

Drawdowns

GPIX vs. USD=X - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for GPIX and USD=X.

Drawdown Indicators

	GPIX	USD=X	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	0.00%	-17.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	0.00%	-7.71%
Max Drawdown (3Y) Largest decline over 3 years	—	0.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	0.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	0.00%	—
Current Drawdown Current decline from peak	-2.06%	0.00%	-2.06%
Average Drawdown Average peak-to-trough decline	-1.48%	0.00%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	0.00%	+1.54%

Volatility

GPIX vs. USD=X - Volatility Comparison

Goldman Sachs S&P 500 Premium Income ETF (GPIX) has a higher volatility of 3.07% compared to USD Cash (USD=X) at 0.00%. This indicates that GPIX's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	USD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	0.00%	+3.07%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	0.00%	+8.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	0.00%	+10.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	0.00%	+13.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	0.00%	+13.84%

Frequently Asked Questions

Which is riskier, GPIX or USD=X?

GPIX has higher volatility (3.07%) compared to USD=X (0.00%). In terms of maximum drawdown, GPIX dropped -17.50% vs USD=X's 0.00%.