GPIX vs. XYLD

Last updated Aug 4, 2026

GPIX (Goldman Sachs S&P 500 Premium Income ETF) and XYLD (Global X S&P 500 Covered Call ETF) are both Derivative Income funds. GPIX is actively managed, while XYLD is passively managed. Over the past year, GPIX returned 22.46% vs 19.53% for XYLD. Their correlation of 0.84 means they have usually moved in the same direction. GPIX charges 0.29%/yr vs 0.60%/yr for XYLD.

Performance

GPIX vs. XYLD - 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 Global X S&P 500 Covered Call ETF (XYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPIX achieves a 11.44% return, which is significantly higher than XYLD's 8.63% return.

GPIX

• 1D: 1.09%
• 1M: 1.72%
• 6M: 9.26%
• YTD: 11.44%
• 1Y: 22.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.21%

XYLD

• 1D: 0.53%
• 1M: 2.36%
• 6M: 6.99%
• YTD: 8.63%
• 1Y: 19.53%
• 3Y*: 12.12%
• 5Y*: 7.92%
• 10Y*: 8.27%
• ALL TIME*: 8.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIX Goldman Sachs S&P 500 Premium Income ETF	$56.77M	$53.71M	$51.99M
XYLD Global X S&P 500 Covered Call ETF	$33.43M	$34.54M	$32.48M

GPIX vs. XYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	11.44%	16.25%	21.77%	13.04%
XYLD Global X S&P 500 Covered Call ETF	8.63%	8.02%	19.49%	5.25%

Correlation

The correlation between GPIX and XYLD is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.84

The correlation between GPIX and XYLD has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

GPIX vs. XYLD - Sectors Allocation Comparison

Sectors	GPIX	XYLD
Technology	38.5%	38.5%
Financial Services	11.9%	11.6%
Communication Services	9.5%	9.9%
Consumer Cyclical	9.5%	9.5%
Healthcare	8.9%	8.9%
Industrials	8.4%	8.4%
Consumer Defensive	4.7%	4.5%
Energy	3.0%	3.0%
Utilities	2.2%	2.2%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

GPIX vs. XYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GPIX

GPIX Risk / Return Rank: 85
GPIX Sharpe Ratio Rank: 85
GPIX Sortino Ratio Rank: 84
GPIX Omega Ratio Rank: 85
GPIX Calmar Ratio Rank: 80
GPIX Martin Ratio Rank: 89

XYLD

XYLD Risk / Return Rank: 94
XYLD Sharpe Ratio Rank: 95
XYLD Sortino Ratio Rank: 95
XYLD Omega Ratio Rank: 96
XYLD Calmar Ratio Rank: 89
XYLD Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GPIX vs. XYLD - 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 Global X S&P 500 Covered Call ETF (XYLD). 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	XYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.77	-0.74
Sortino ratio: Return per unit of downside risk	2.81	3.95	-1.14
Omega ratio: Gain probability vs. loss probability	1.38	1.63	-0.25
Calmar ratio: Return relative to maximum drawdown	2.93	3.71	-0.78
Martin ratio: Return relative to average drawdown	13.84	19.28	-5.45

GPIX vs. XYLD - Sharpe Ratio Comparison

The current GPIX Sharpe Ratio is 2.03, which is comparable to the XYLD Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of GPIX and XYLD, 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. XYLD - Drawdown Comparison

The maximum GPIX drawdown since its inception was -17.50%, smaller than the maximum XYLD drawdown of -33.46%. Use the drawdown chart below to compare losses from any high point for GPIX and XYLD.

Drawdown Indicators

	GPIX	XYLD	Difference
Max Drawdown Largest peak-to-trough decline	-17.50%	-33.46%	+15.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-5.29%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.46%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.46%	-3.68%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.02%	+0.61%

Volatility

GPIX vs. XYLD - Volatility Comparison

Goldman Sachs S&P 500 Premium Income ETF (GPIX) has a higher volatility of 3.25% compared to Global X S&P 500 Covered Call ETF (XYLD) at 1.97%. This indicates that GPIX's price experiences larger fluctuations and is considered to be riskier than XYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPIX	XYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	1.97%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	5.99%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	7.10%	+4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	11.27%	+2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	14.16%	-0.40%

GPIX vs. XYLD - Expense Ratio Comparison

GPIX has a 0.29% expense ratio, which is lower than XYLD's 0.60% expense ratio.

Dividends

GPIX vs. XYLD - Dividend Comparison

GPIX's dividend yield for the trailing twelve months is around 8.14%, less than XYLD's 10.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.14%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XYLD Global X S&P 500 Covered Call ETF	10.47%	10.51%	11.54%	10.51%	13.43%	9.07%	7.93%	5.76%	7.12%	5.18%	3.23%	4.65%

Frequently Asked Questions

Can I hold both GPIX and XYLD in my portfolio?

With a correlation of 0.92, GPIX and XYLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GPIX or XYLD?

GPIX has higher volatility (3.25%) compared to XYLD (1.97%). In terms of maximum drawdown, GPIX dropped -17.50% vs XYLD's -33.46%.

Which ETF is better, GPIX or XYLD?

On 1-year performance, GPIX leads with 22.46% vs 19.53% for XYLD. On fees, GPIX is cheaper at 0.29% per year. On volatility, XYLD has been the lower-risk option at 1.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPIX or XYLD?

Over the 1-year period, GPIX has performed better with a 22.46% return vs 19.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPIX or XYLD?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.60% for XYLD.

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

XYLD has the higher dividend yield at 10.47%, compared with 8.14% for GPIX.

What is the main difference between GPIX and XYLD?

They also come from different issuers: Goldman Sachs and Global X. Their fees differ too: 0.29% for GPIX and 0.60% for XYLD.

Which has better risk-adjusted returns?

XYLD currently has the higher Sharpe Ratio (2.77 vs 2.03), 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.