GPZ vs. PSP

Last updated Jun 4, 2026

GPZ (VanEck Alternative Asset Manager ETF) and PSP (Invesco Global Listed Private Equity ETF) are both exchange-traded funds - GPZ is a Financials Equities fund tracking the MarketVector Alternative Asset Managers Index, while PSP is a Global Equities fund tracking the Red Rocks Global Listed Private Equity Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. GPZ charges 0.40%/yr vs 1.44%/yr for PSP.

Performance

GPZ vs. PSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Alternative Asset Manager ETF (GPZ) and Invesco Global Listed Private Equity ETF (PSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPZ achieves a -19.37% return, which is significantly lower than PSP's -13.50% return.

GPZ

• 1D: -4.70%
• 1M: -6.69%
• YTD: -19.37%
• 6M: -16.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSP

• 1D: -4.75%
• 1M: -5.00%
• YTD: -13.50%
• 6M: -10.48%
• 1Y: -7.74%
• 3Y*: 10.19%
• 5Y*: -0.12%
• 10Y*: 7.53%

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

GPZ vs. PSP - Yearly Performance Comparison

	2026 (YTD)	2025
GPZ VanEck Alternative Asset Manager ETF	-19.37%	9.43%
PSP Invesco Global Listed Private Equity ETF	-13.50%	6.11%

Correlation

The correlation between GPZ and PSP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.91

GPZ vs. PSP - Sectors Allocation Comparison

Sectors	GPZ	PSP
Financial Services	100.0%	90.7%
Real Estate	2.3%	-
Basic Materials	-	0.1%
Communication Services	-	1.0%
Consumer Cyclical	-	-
Consumer Defensive	-	5.4%
Energy	-	-
Healthcare	-	0.5%
Industrials	-	3.2%
Technology	-	0.1%
Utilities	-	-

Return for Risk

GPZ vs. PSP — Risk / Return Rank

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

PSP

PSP Risk / Return Rank: 5
PSP Sharpe Ratio Rank: 5
PSP Sortino Ratio Rank: 5
PSP Omega Ratio Rank: 5
PSP Calmar Ratio Rank: 6
PSP Martin Ratio Rank: 5

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.

GPZ vs. PSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Alternative Asset Manager ETF (GPZ) and Invesco Global Listed Private Equity ETF (PSP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GPZ	PSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.39	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.01	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.08	-0.52

Drawdowns

GPZ vs. PSP - Drawdown Comparison

The maximum GPZ drawdown since its inception was -31.72%, smaller than the maximum PSP drawdown of -85.40%. Use the drawdown chart below to compare losses from any high point for GPZ and PSP.

Drawdown Indicators

	GPZ	PSP	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-85.40%	+53.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-22.37%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.16%	—
Current Drawdown Current decline from peak	-25.93%	-17.72%	-8.21%
Average Drawdown Average peak-to-trough decline	-11.74%	-30.69%	+18.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.67%	—

Volatility

Volatility by Period

	GPZ	PSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.33%	19.91%	+7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.33%	23.79%	+3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	22.45%	+4.88%

GPZ vs. PSP - Expense Ratio Comparison

GPZ has a 0.40% expense ratio, which is lower than PSP's 1.44% expense ratio.

Dividends

GPZ vs. PSP - Dividend Comparison

GPZ's dividend yield for the trailing twelve months is around 1.03%, less than PSP's 6.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPZ VanEck Alternative Asset Manager ETF	1.03%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSP Invesco Global Listed Private Equity ETF	6.68%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%

Frequently Asked Questions

Can I hold both GPZ and PSP in my portfolio?

With a correlation of 0.91, GPZ and PSP 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 ETF is better, GPZ or PSP?

On fees, GPZ is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GPZ or PSP?

GPZ is cheaper with a 0.40% expense ratio, compared with 1.44% for PSP.

Which ETF pays a higher dividend yield, GPZ or PSP?

PSP has the higher dividend yield at 6.68%, compared with 1.03% for GPZ.

What is the main difference between GPZ and PSP?

GPZ is categorized as Financials Equities, while PSP is Global Equities. GPZ tracks MarketVector Alternative Asset Managers Index, while PSP tracks Red Rocks Global Listed Private Equity Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.40% for GPZ and 1.44% for PSP.