GSC vs. GPIX

Last updated Jun 3, 2026

GSC (Goldman Sachs Small Cap Core Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSC is a Small Cap Blend Equities fund actively managed by Goldman Sachs, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, GSC returned 29.31% vs 25.55% for GPIX. A 0.59 correlation means they provide meaningful diversification when combined. GSC charges 0.75%/yr vs 0.29%/yr for GPIX.

Performance

GSC vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Core Equity ETF (GSC) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSC achieves a 15.94% return, which is significantly higher than GPIX's 9.91% return.

GSC

• 1D: 1.50%
• 1M: 4.33%
• YTD: 15.94%
• 6M: 16.68%
• 1Y: 29.31%
• 3Y*: 26.33%
• 5Y*: 21.12%
• 10Y*: 10.86%

GPIX

• 1D: -0.48%
• 1M: 4.27%
• YTD: 9.91%
• 6M: 10.34%
• 1Y: 25.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSC vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSC Goldman Sachs Small Cap Core Equity ETF	15.94%	6.29%	13.79%	18.12%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.91%	16.25%	21.77%	13.45%

Correlation

The correlation between GSC and GPIX is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.59

The correlation between GSC and GPIX has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

GSC vs. GPIX - Sectors Allocation Comparison

Sectors	GSC	GPIX
Technology	23.6%	35.5%
Industrials	17.5%	8.4%
Financial Services	16.5%	11.6%
Healthcare	12.4%	8.4%
Consumer Cyclical	8.8%	10.1%
Basic Materials	6.4%	1.8%
Energy	4.2%	3.5%
Consumer Defensive	3.8%	4.9%
Utilities	3.1%	2.4%
Real Estate	2.6%	2.0%
Communication Services	0.9%	11.5%

Return for Risk

GSC vs. GPIX — Risk / Return Rank

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

GSC

GSC Risk / Return Rank: 45
GSC Sharpe Ratio Rank: 10
GSC Sortino Ratio Rank: 84
GSC Omega Ratio Rank: 98
GSC Calmar Ratio Rank: 15
GSC Martin Ratio Rank: 17

GPIX

GPIX Risk / Return Rank: 75
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.

GSC vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Core Equity ETF (GSC) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). 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.

	GSC	GPIX	Difference
Sharpe ratio Return per unit of total volatility	0.07	2.52	-2.45
Sortino ratio Return per unit of downside risk	3.81	3.48	+0.33
Omega ratio Gain probability vs. loss probability	1.99	1.48	+0.51
Calmar ratio Return relative to maximum drawdown	0.51	3.33	-2.83
Martin ratio Return relative to average drawdown	1.74	16.77	-15.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSC vs. GPIX - Sharpe Ratio Comparison

The current GSC Sharpe Ratio is 0.07, which is lower than the GPIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of GSC and GPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSC	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.07	2.52	-2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	1.78	-1.78

Drawdowns

GSC vs. GPIX - Drawdown Comparison

The maximum GSC drawdown since its inception was -88.63%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSC and GPIX.

Drawdown Indicators

	GSC	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-17.50%	-71.13%
Max Drawdown (1Y) Largest decline over 1 year	-58.25%	-7.71%	-50.54%
Max Drawdown (3Y) Largest decline over 3 years	-58.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-58.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.06%	—	—
Current Drawdown Current decline from peak	-31.14%	-0.48%	-30.66%
Average Drawdown Average peak-to-trough decline	-59.28%	-1.48%	-57.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.91%	1.53%	+15.38%

Volatility

GSC vs. GPIX - Volatility Comparison

Goldman Sachs Small Cap Core Equity ETF (GSC) has a higher volatility of 5.99% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that GSC's price experiences larger fluctuations and is considered to be riskier than GPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSC	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	2.26%	+3.73%
Volatility (6M) Calculated over the trailing 6-month period	203.12%	7.89%	+195.23%
Volatility (1Y) Calculated over the trailing 1-year period	403.79%	10.17%	+393.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	218.93%	13.80%	+205.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	160.41%	13.80%	+146.61%

GSC vs. GPIX - Expense Ratio Comparison

GSC has a 0.75% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

GSC vs. GPIX - Dividend Comparison

GSC's dividend yield for the trailing twelve months is around 0.17%, less than GPIX's 8.00% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.00%	8.01%	7.45%	1.40%
GSC Goldman Sachs Small Cap Core Equity ETF	0.17%	0.16%	0.66%	0.11%

Frequently Asked Questions

Can I hold both GSC and GPIX in my portfolio?

GSC and GPIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSC or GPIX?

GSC has higher volatility (5.99%) compared to GPIX (2.26%). In terms of maximum drawdown, GSC dropped -88.63% vs GPIX's -17.50%.

Which ETF is better, GSC or GPIX?

On 1-year performance, GSC leads with 29.31% vs 25.55% for GPIX. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSC or GPIX?

Over the 1-year period, GSC has performed better with a 29.31% return vs 25.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSC or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.75% for GSC.

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

GPIX has the higher dividend yield at 8.00%, compared with 0.17% for GSC.

What is the main difference between GSC and GPIX?

GSC is categorized as Small Cap Blend Equities, while GPIX is Derivative Income. Their fees differ too: 0.75% for GSC and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.52 vs 0.07), 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.