GPIX vs. USMF

Last updated Jun 16, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and USMF (WisdomTree US Multifactor Fund) are both exchange-traded funds - GPIX is a Derivative Income fund actively managed by Goldman Sachs, while USMF is a Mid Cap Blend Equities fund tracking the WisdomTree US Multifactor Index. GPIX is actively managed, while USMF is passively managed. Over the past year, GPIX returned 25.72% vs 9.68% for USMF. A 0.72 correlation means they provide meaningful diversification when combined. GPIX charges 0.29%/yr vs 0.28%/yr for USMF.

Performance

GPIX vs. USMF - 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 WisdomTree US Multifactor Fund (USMF). 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 USMF's 6.65% return.

GPIX

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

USMF

• 1D: 1.25%
• 1M: 5.30%
• YTD: 6.65%
• 6M: 6.40%
• 1Y: 9.68%
• 3Y*: 13.99%
• 5Y*: 8.31%
• 10Y*: —

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

GPIX vs. USMF - 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%
USMF WisdomTree US Multifactor Fund	6.65%	4.60%	19.65%	12.65%

Correlation

The correlation between GPIX and USMF is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.72

The correlation between GPIX and USMF has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

GPIX vs. USMF - Sectors Allocation Comparison

Sectors	GPIX	USMF
Technology	39.2%	33.2%
Financial Services	10.9%	10.7%
Communication Services	10.7%	9.8%
Consumer Cyclical	10.1%	10.5%
Healthcare	8.3%	9.0%
Industrials	7.7%	8.2%
Consumer Defensive	4.4%	4.3%
Energy	3.2%	4.8%
Utilities	2.2%	1.9%
Real Estate	1.8%	2.0%
Basic Materials	1.7%	0.9%

Return for Risk

GPIX vs. USMF — 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

USMF

USMF Risk / Return Rank: 28
USMF Sharpe Ratio Rank: 26
USMF Sortino Ratio Rank: 25
USMF Omega Ratio Rank: 24
USMF Calmar Ratio Rank: 32
USMF Martin Ratio Rank: 32

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. USMF - 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 WisdomTree US Multifactor Fund (USMF). 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	USMF	Difference
Sharpe ratio: Return per unit of total volatility	2.42	0.86	+1.56
Sortino ratio: Return per unit of downside risk	3.30	1.29	+2.00
Omega ratio: Gain probability vs. loss probability	1.46	1.15	+0.31
Calmar ratio: Return relative to maximum drawdown	3.35	1.50	+1.85
Martin ratio: Return relative to average drawdown	16.40	4.47	+11.93

GPIX vs. USMF - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.42, which is higher than the USMF Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of GPIX and USMF, 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. USMF - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum USMF drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for GPIX and USMF.

Drawdown Indicators

	GPIX	USMF	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-36.24%	+18.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-6.47%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.10%	—
Current Drawdown Current decline from peak	-0.14%	0.00%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.48%	-4.15%	+2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	2.17%	-0.60%

Volatility

GPIX vs. USMF - Volatility Comparison

Goldman Sachs S&P 500 Premium Income ETF (GPIX) and WisdomTree US Multifactor Fund (USMF) have volatilities of 4.00% and 4.10%, 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	USMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	4.10%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	8.13%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	11.31%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	14.34%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.88%	16.97%	-3.09%

GPIX vs. USMF - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is higher than USMF's 0.28% expense ratio.

Dividends

GPIX vs. USMF - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 7.97%, more than USMF's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
USMF WisdomTree US Multifactor Fund	1.29%	1.37%	1.22%	1.33%	1.74%	1.42%	1.34%	1.38%	1.45%	0.67%

Frequently Asked Questions

Can I hold both GPIX and USMF in my portfolio?

GPIX and USMF have a correlation of 0.67, 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 USMF?

USMF has higher volatility (4.10%) compared to GPIX (4.00%). In terms of maximum drawdown, GPIX dropped -17.50% vs USMF's -36.24%.

Which ETF is better, GPIX or USMF?

On 1-year performance, GPIX leads with 25.72% vs 9.68% for USMF. On fees, USMF is cheaper at 0.28% per year. On volatility, GPIX has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or USMF?

Over the 1-year period, GPIX has performed better with a 25.72% return vs 9.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or USMF?

USMF is cheaper with a 0.28% expense ratio, compared with 0.29% for GPIX.

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

GPIX has the higher dividend yield at 7.97%, compared with 1.29% for USMF.

What is the main difference between GPIX and USMF?

GPIX is categorized as Derivative Income, while USMF is Mid Cap Blend Equities. They also come from different issuers: Goldman Sachs and WisdomTree. Their fees differ too: 0.29% for GPIX and 0.28% for USMF.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.42 vs 0.86), 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.