GPRF vs. IPPP

Last updated Jun 3, 2026

GPRF (Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF) and IPPP (Preferred-Plus ETF) are both Preferred Stock/Convertible Bonds funds. GPRF is passively managed, while IPPP is actively managed. GPRF charges 0.45%/yr vs 1.27%/yr for IPPP.

Performance

GPRF vs. IPPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and Preferred-Plus ETF (IPPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GPRF

• 1D: -0.04%
• 1M: 0.12%
• YTD: 1.40%
• 6M: 1.70%
• 1Y: 6.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IPPP

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

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

GPRF vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF	-0.12%
IPPP Preferred-Plus ETF	0.00%

GPRF vs. IPPP - Sectors Allocation Comparison

Sectors	GPRF	IPPP
Financial Services	20.6%	-
Real Estate	3.4%	-
Utilities	2.5%	100.0%
Consumer Cyclical	0.9%	-
Communication Services	0.5%	-
Industrials	0.4%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

GPRF vs. IPPP — Risk / Return Rank

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

GPRF

GPRF Risk / Return Rank: 49
GPRF Sharpe Ratio Rank: 52
GPRF Sortino Ratio Rank: 53
GPRF Omega Ratio Rank: 62
GPRF Calmar Ratio Rank: 33
GPRF Martin Ratio Rank: 47

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.

GPRF vs. IPPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and Preferred-Plus ETF (IPPP). 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.

	GPRF	IPPP	Difference
Sharpe ratio Return per unit of total volatility	1.82	—	—
Sortino ratio Return per unit of downside risk	2.59	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	1.64	—	—
Martin ratio Return relative to average drawdown	7.86	—	—
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

	GPRF	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	—	—

Drawdowns

GPRF vs. IPPP - Drawdown Comparison

The maximum GPRF drawdown since its inception was -4.36%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for GPRF and IPPP.

Drawdown Indicators

	GPRF	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-4.36%	0.00%	-4.36%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	—	—
Current Drawdown Current decline from peak	-0.71%	0.00%	-0.71%
Average Drawdown Average peak-to-trough decline	-0.89%	0.00%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	GPRF	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	0.00%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.95%	0.00%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.95%	0.00%	+3.95%

GPRF vs. IPPP - Expense Ratio Comparison

GPRF has a 0.45% expense ratio, which is lower than IPPP's 1.27% expense ratio.

Dividends

GPRF vs. IPPP - Dividend Comparison

GPRF's dividend yield for the trailing twelve months is around 5.64%, while IPPP has not paid dividends to shareholders.

Position	TTM	2025	2024
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF	5.64%	5.38%	2.10%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, GPRF or IPPP?

On fees, GPRF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GPRF or IPPP?

GPRF is cheaper with a 0.45% expense ratio, compared with 1.27% for IPPP.

Which ETF pays a higher dividend yield, GPRF or IPPP?

GPRF has the higher dividend yield at 5.64%, compared with 0.00% for IPPP.

What is the main difference between GPRF and IPPP?

They also come from different issuers: Goldman Sachs and Innovative Portfolios. Their fees differ too: 0.45% for GPRF and 1.27% for IPPP.