GSEE vs. GPIX

Last updated Aug 2, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSEE is a Emerging Markets Equities fund tracking the Solactive GBS Emerging Markets Large & Mid Cap Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. GSEE is passively managed, while GPIX is actively managed. Over the past year, GSEE returned 33.85% vs 21.14% for GPIX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. GSEE charges 0.36%/yr vs 0.29%/yr for GPIX.

Performance

GSEE vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) 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, GSEE achieves a 17.18% return, which is significantly higher than GPIX's 10.23% return.

GSEE

• 1D: 0.71%
• 1M: -2.59%
• 6M: 7.84%
• YTD: 17.18%
• 1Y: 33.85%
• 3Y*: 17.89%
• 5Y*: 7.36%
• 10Y*: —
• ALL TIME*: 12.23%

GPIX

• 1D: 0.62%
• 1M: 0.62%
• 6M: 8.56%
• YTD: 10.23%
• 1Y: 21.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.80%

*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	$55.40M	$53.93M	$51.40M
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	$245.60K	$176.21K	$183.66K

GSEE vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	17.18%	33.38%	4.94%	11.85%
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.23%	16.25%	21.77%	13.04%

Correlation

The correlation between GSEE and GPIX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.64

The correlation between GSEE and GPIX shifts across timeframes, from 0.64 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

GSEE vs. GPIX - Sectors Allocation Comparison

Sectors	GSEE	GPIX
Technology	39.9%	38.5%
Financial Services	19.6%	11.9%
Consumer Cyclical	7.9%	9.5%
Industrials	6.8%	8.4%
Communication Services	6.1%	9.5%
Basic Materials	5.4%	1.7%
Energy	3.2%	3.0%
Healthcare	2.8%	8.9%
Consumer Defensive	2.5%	4.7%
Utilities	2.1%	2.2%
Real Estate	1.0%	1.8%

Return for Risk

GSEE vs. GPIX — Risk / Return Rank

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

GSEE

GSEE Risk / Return Rank: 61
GSEE Sharpe Ratio Rank: 60
GSEE Sortino Ratio Rank: 56
GSEE Omega Ratio Rank: 62
GSEE Calmar Ratio Rank: 68
GSEE Martin Ratio Rank: 61

GPIX

GPIX Risk / Return Rank: 78
GPIX Sharpe Ratio Rank: 77
GPIX Sortino Ratio Rank: 76
GPIX Omega Ratio Rank: 78
GPIX Calmar Ratio Rank: 73
GPIX Martin Ratio Rank: 86

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.

GSEE vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) 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.

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.

	GSEE	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.75	-0.34
Sortino ratio: Return per unit of downside risk	1.94	2.43	-0.50
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	2.38	2.53	-0.16
Martin ratio: Return relative to average drawdown	7.35	11.97	-4.63

GSEE vs. GPIX - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 1.41, which is comparable to the GPIX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of GSEE 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.

Drawdowns

GSEE vs. GPIX - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSEE and GPIX.

Drawdown Indicators

	GSEE	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-17.50%	-20.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.07%	-7.71%	-6.36%
Max Drawdown (3Y) Largest decline over 3 years	-17.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.16%	—	—
Current Drawdown Current decline from peak	-10.05%	-0.57%	-9.48%
Average Drawdown Average peak-to-trough decline	-14.52%	-1.46%	-13.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	1.63%	+2.91%

Volatility

GSEE vs. GPIX - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) has a higher volatility of 8.69% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 3.07%. This indicates that GSEE'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

	GSEE	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.69%	3.07%	+5.62%
Volatility (6M) Calculated over the trailing 6-month period	21.57%	8.97%	+12.60%
Volatility (1Y) Calculated over the trailing 1-year period	23.76%	11.17%	+12.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.11%	13.76%	+5.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.03%	13.76%	+5.27%

GSEE vs. GPIX - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

GSEE vs. GPIX - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 2.16%, less than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.46%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	2.16%	2.53%	2.79%	3.07%	3.05%	6.10%	2.41%

Frequently Asked Questions

Can I hold both GSEE and GPIX in my portfolio?

GSEE and GPIX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEE or GPIX?

GSEE has higher volatility (8.69%) compared to GPIX (3.07%). In terms of maximum drawdown, GSEE dropped -37.51% vs GPIX's -17.50%.

Which ETF is better, GSEE or GPIX?

On 1-year performance, GSEE leads with 33.85% vs 21.14% for GPIX. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEE or GPIX?

Over the 1-year period, GSEE has performed better with a 33.85% return vs 21.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEE or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.36% for GSEE.

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

GPIX has the higher dividend yield at 7.46%, compared with 2.16% for GSEE.

What is the main difference between GSEE and GPIX?

GSEE is categorized as Emerging Markets Equities, while GPIX is Derivative Income. Their fees differ too: 0.36% for GSEE and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.75 vs 1.41), 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.