GSG vs. GPIX
GSG (iShares S&P GSCI Commodity-Indexed Trust) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSG is a Commodities fund tracking the S&P GSCI Total Return Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. GSG is passively managed, while GPIX is actively managed. Over the past year, GSG returned 46.16% vs 17.54% for GPIX. Their 0.00 correlation means their historical movements had little consistent relationship. GSG charges 0.75%/yr vs 0.29%/yr for GPIX.
Performance
GSG vs. GPIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GSG achieves a 42.11% return, which is significantly higher than GPIX's 9.04% return.
GSG
- 1D
- -1.12%
- 1M
- 13.47%
- 6M
- 32.35%
- YTD
- 42.11%
- 1Y
- 46.16%
- 3Y*
- 15.32%
- 5Y*
- 15.35%
- 10Y*
- 8.71%
- ALL TIME*
- -2.03%
GPIX
- 1D
- 0.09%
- 1M
- 1.01%
- 6M
- 7.83%
- YTD
- 9.04%
- 1Y
- 17.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $50.34M | $51.86M | $49.74M | |
| $14.36M | $16.94M | $27.13M |
GSG vs. GPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.11% | 5.93% | 8.52% | -8.74% |
GPIX Goldman Sachs S&P 500 Premium Income ETF | 9.04% | 16.25% | 21.77% | 13.04% |
Correlation
The correlation between GSG and GPIX is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023 | 0.00 |
The correlation between GSG and GPIX shifts across timeframes, from -0.16 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GSG vs. GPIX — Risk / Return Rank
GSG
GPIX
GSG vs. GPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) 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.
| GSG | GPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.33 | +0.06 |
| Martin ratioReturn relative to average drawdown | 7.82 | 11.09 | -3.27 |
Loading charts...
Drawdowns
GSG vs. GPIX - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSG and GPIX.
Loading charts...
Drawdown Indicators
| GSG | GPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -17.50% | -72.12% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -7.71% | -11.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | — | — |
Current DrawdownCurrent decline from peak | -57.10% | -1.65% | -55.45% |
Average DrawdownAverage peak-to-trough decline | -63.68% | -1.46% | -62.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 1.62% | +4.13% |
Volatility
GSG vs. GPIX - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 6.47% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.63%. This indicates that GSG'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.
Loading charts...
Volatility by Period
| GSG | GPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 2.63% | +3.84% |
Volatility (6M)Calculated over the trailing 6-month period | 21.68% | 8.74% | +12.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 10.98% | +12.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.75% | 13.75% | +9.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 13.75% | +8.26% |
GSG vs. GPIX - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than GPIX's 0.29% expense ratio.
Dividends
GSG vs. GPIX - Dividend Comparison
GSG has not paid dividends to shareholders, while GPIX's dividend yield for the trailing twelve months is around 8.19%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 8.19% | 8.01% | 7.45% | 1.40% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSG and GPIX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (6.47%) compared to GPIX (2.63%). In terms of maximum drawdown, GSG dropped -89.62% vs GPIX's -17.50%.
On 1-year performance, GSG leads with 46.16% vs 17.54% for GPIX. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 46.16% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GPIX is cheaper with a 0.29% expense ratio, compared with 0.75% for GSG.
GPIX has the higher dividend yield at 8.19%, compared with 0.00% for GSG.
GSG is categorized as Commodities, while GPIX is Derivative Income. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.75% for GSG and 0.29% for GPIX.
GSG currently has the higher Sharpe Ratio (1.90 vs 1.64), 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.
Find the right allocation for GSG and GPIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer