GSEU vs. GPIX

Last updated Jun 4, 2026

GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSEU is a Europe Equities fund tracking the Goldman Sachs ActiveBeta Europe Equity Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. GSEU is passively managed, while GPIX is actively managed. Over the past year, GSEU returned 17.47% vs 25.55% for GPIX. A 0.64 correlation means they provide meaningful diversification when combined. GSEU charges 0.25%/yr vs 0.29%/yr for GPIX.

Performance

GSEU vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) 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, GSEU achieves a 5.62% return, which is significantly lower than GPIX's 9.91% return.

GSEU

• 1D: -1.00%
• 1M: 2.97%
• YTD: 5.62%
• 6M: 9.09%
• 1Y: 17.47%
• 3Y*: 16.51%
• 5Y*: 8.08%
• 10Y*: 9.21%

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)

GSEU vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	5.62%	35.70%	2.00%	15.35%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.91%	16.25%	21.77%	13.45%

Correlation

The correlation between GSEU and GPIX is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.64

The correlation between GSEU and GPIX has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

GSEU vs. GPIX - Sectors Allocation Comparison

Sectors	GSEU	GPIX
Financial Services	24.7%	11.6%
Industrials	19.9%	8.4%
Healthcare	13.1%	8.4%
Consumer Defensive	8.4%	4.9%
Technology	8.1%	35.5%
Consumer Cyclical	6.6%	10.1%
Basic Materials	5.0%	1.8%
Utilities	4.8%	2.4%
Communication Services	4.6%	11.5%
Energy	4.4%	3.5%
Real Estate	0.6%	2.0%

Return for Risk

GSEU vs. GPIX — Risk / Return Rank

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

GSEU

GSEU Risk / Return Rank: 32
GSEU Sharpe Ratio Rank: 32
GSEU Sortino Ratio Rank: 31
GSEU Omega Ratio Rank: 31
GSEU Calmar Ratio Rank: 30
GSEU Martin Ratio Rank: 35

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.

GSEU vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) 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.

	GSEU	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	2.52	-1.36
Sortino ratio: Return per unit of downside risk	1.68	3.48	-1.80
Omega ratio: Gain probability vs. loss probability	1.21	1.48	-0.27
Calmar ratio: Return relative to maximum drawdown	1.47	3.33	-1.86
Martin ratio: Return relative to average drawdown	5.54	16.77	-11.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSEU vs. GPIX - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.16, which is lower than the GPIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of GSEU 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

	GSEU	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.52	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.78	-1.26

Drawdowns

GSEU vs. GPIX - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSEU and GPIX.

Drawdown Indicators

	GSEU	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-17.50%	-18.21%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-7.71%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	—	—
Current Drawdown Current decline from peak	-2.16%	-0.48%	-1.68%
Average Drawdown Average peak-to-trough decline	-6.60%	-1.48%	-5.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	1.53%	+1.63%

Volatility

GSEU vs. GPIX - Volatility Comparison

Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) has a higher volatility of 5.58% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that GSEU'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

	GSEU	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	2.26%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	7.89%	+4.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	10.17%	+4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	13.80%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	13.80%	+4.31%

GSEU vs. GPIX - Expense Ratio Comparison

GSEU has a 0.25% expense ratio, which is lower than GPIX's 0.29% expense ratio.

Dividends

GSEU vs. GPIX - Dividend Comparison

GSEU's dividend yield for the trailing twelve months is around 2.58%, less than GPIX's 8.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.00%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.58%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%

Frequently Asked Questions

Can I hold both GSEU and GPIX in my portfolio?

GSEU and GPIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEU or GPIX?

GSEU has higher volatility (5.58%) compared to GPIX (2.26%). In terms of maximum drawdown, GSEU dropped -35.71% vs GPIX's -17.50%.

Which ETF is better, GSEU or GPIX?

On 1-year performance, GPIX leads with 25.55% vs 17.47% for GSEU. On fees, GSEU is cheaper at 0.25% 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, GSEU or GPIX?

Over the 1-year period, GPIX has performed better with a 25.55% return vs 17.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEU or GPIX?

GSEU is cheaper with a 0.25% expense ratio, compared with 0.29% for GPIX.

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

GPIX has the higher dividend yield at 8.00%, compared with 2.58% for GSEU.

What is the main difference between GSEU and GPIX?

GSEU is categorized as Europe Equities, while GPIX is Derivative Income. Their fees differ too: 0.25% for GSEU and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.52 vs 1.16), 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.