GSIE vs. GPIX

Last updated Aug 2, 2026

GSIE (Goldman Sachs ActiveBeta International Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. GSIE is passively managed, while GPIX is actively managed. Over the past year, GSIE returned 24.11% vs 21.14% for GPIX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. GSIE charges 0.25%/yr vs 0.29%/yr for GPIX.

Performance

GSIE vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta International Equity ETF (GSIE) 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, GSIE achieves a 11.28% return, which is significantly higher than GPIX's 10.23% return.

GSIE

• 1D: -0.64%
• 1M: 2.31%
• 6M: 7.16%
• YTD: 11.28%
• 1Y: 24.11%
• 3Y*: 17.11%
• 5Y*: 9.07%
• 10Y*: 9.54%
• ALL TIME*: 9.02%

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
GSIE Goldman Sachs ActiveBeta International Equity ETF	$17.78M	$19.71M	$20.28M

GSIE vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSIE Goldman Sachs ActiveBeta International Equity ETF	11.28%	32.53%	5.23%	13.57%
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.23%	16.25%	21.77%	13.04%

Correlation

The correlation between GSIE 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	0.69

The correlation between GSIE and GPIX has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

GSIE vs. GPIX - Sectors Allocation Comparison

Sectors	GSIE	GPIX
Financial Services	27.3%	11.9%
Industrials	18.6%	8.4%
Technology	10.6%	38.5%
Healthcare	9.6%	8.9%
Consumer Cyclical	8.6%	9.5%
Consumer Defensive	7.5%	4.7%
Basic Materials	5.4%	1.7%
Energy	4.2%	3.0%
Communication Services	3.8%	9.5%
Utilities	3.3%	2.2%
Real Estate	1.2%	1.8%

Return for Risk

GSIE vs. GPIX — Risk / Return Rank

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

GSIE

GSIE Risk / Return Rank: 70
GSIE Sharpe Ratio Rank: 72
GSIE Sortino Ratio Rank: 72
GSIE Omega Ratio Rank: 70
GSIE Calmar Ratio Rank: 64
GSIE Martin Ratio Rank: 70

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.

GSIE vs. GPIX - Risk-Adjusted Trends Comparison

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

	GSIE	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.75	-0.11
Sortino ratio: Return per unit of downside risk	2.34	2.43	-0.09
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.22	2.53	-0.32
Martin ratio: Return relative to average drawdown	8.50	11.97	-3.48

GSIE vs. GPIX - Sharpe Ratio Comparison

The current GSIE Sharpe Ratio is 1.64, which is comparable to the GPIX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of GSIE 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

GSIE vs. GPIX - Drawdown Comparison

The maximum GSIE drawdown since its inception was -34.63%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSIE and GPIX.

Drawdown Indicators

	GSIE	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.63%	-17.50%	-17.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-7.71%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	—	—
Current Drawdown Current decline from peak	-0.64%	-0.57%	-0.07%
Average Drawdown Average peak-to-trough decline	-5.98%	-1.46%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.63%	+1.17%

Volatility

GSIE vs. GPIX - Volatility Comparison

Goldman Sachs ActiveBeta International Equity ETF (GSIE) has a higher volatility of 4.12% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 3.07%. This indicates that GSIE'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

	GSIE	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	3.07%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	8.97%	+3.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	11.17%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	13.76%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	13.76%	+2.75%

GSIE vs. GPIX - Expense Ratio Comparison

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

Dividends

GSIE vs. GPIX - Dividend Comparison

GSIE's dividend yield for the trailing twelve months is around 2.50%, less than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.46%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.50%	2.65%	3.11%	2.87%	3.01%	2.40%	1.60%	2.80%	2.68%	2.31%	2.15%	0.13%

Frequently Asked Questions

Can I hold both GSIE and GPIX in my portfolio?

GSIE 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, GSIE or GPIX?

GSIE has higher volatility (4.12%) compared to GPIX (3.07%). In terms of maximum drawdown, GSIE dropped -34.63% vs GPIX's -17.50%.

Which ETF is better, GSIE or GPIX?

On 1-year performance, GSIE leads with 24.11% vs 21.14% for GPIX. On fees, GSIE is cheaper at 0.25% 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, GSIE or GPIX?

Over the 1-year period, GSIE has performed better with a 24.11% return vs 21.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIE or GPIX?

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

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

GPIX has the higher dividend yield at 7.46%, compared with 2.50% for GSIE.

What is the main difference between GSIE and GPIX?

GSIE is categorized as Foreign Large Cap Equities, while GPIX is Derivative Income. Their fees differ too: 0.25% for GSIE and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.75 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.