GSST vs. GPIQ

Last updated Jun 4, 2026

GSST (Goldman Sachs Ultra Short Bond ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - GSST is a Ultrashort Bond fund actively managed by Goldman Sachs, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, GSST returned 4.61% vs 37.50% for GPIQ. At a 0.10 correlation, their price movements are largely independent. GSST charges 0.16%/yr vs 0.29%/yr for GPIQ.

Performance

GSST vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Ultra Short Bond ETF (GSST) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSST achieves a 1.55% return, which is significantly lower than GPIQ's 18.30% return.

GSST

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.61%
• 3Y*: 5.52%
• 5Y*: 3.75%
• 10Y*: —

GPIQ

• 1D: -0.19%
• 1M: 8.51%
• YTD: 18.30%
• 6M: 17.64%
• 1Y: 37.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSST vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSST Goldman Sachs Ultra Short Bond ETF	1.55%	5.20%	6.01%	1.66%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.30%	19.77%	23.22%	15.38%

Correlation

The correlation between GSST and GPIQ is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.10

Return for Risk

GSST vs. GPIQ — Risk / Return Rank

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

GSST

GSST Risk / Return Rank: 99
GSST Sharpe Ratio Rank: 99
GSST Sortino Ratio Rank: 99
GSST Omega Ratio Rank: 99
GSST Calmar Ratio Rank: 99
GSST Martin Ratio Rank: 99

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 84
GPIQ Sortino Ratio Rank: 81
GPIQ Omega Ratio Rank: 82
GPIQ Calmar Ratio Rank: 77
GPIQ Martin Ratio Rank: 83

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.

GSST vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Ultra Short Bond ETF (GSST) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). 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.

	GSST	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	7.98	2.81	+5.16
Sortino ratio: Return per unit of downside risk	16.58	3.71	+12.87
Omega ratio: Gain probability vs. loss probability	3.94	1.51	+2.44
Calmar ratio: Return relative to maximum drawdown	29.99	3.96	+26.03
Martin ratio: Return relative to average drawdown	185.54	17.48	+168.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSST vs. GPIQ - Sharpe Ratio Comparison

The current GSST Sharpe Ratio is 7.98, which is higher than the GPIQ Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of GSST and GPIQ, 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

	GSST	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.98	2.81	+5.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	5.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.78	1.78	+2.00

Drawdowns

GSST vs. GPIQ - Drawdown Comparison

The maximum GSST drawdown since its inception was -3.51%, smaller than the maximum GPIQ drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for GSST and GPIQ.

Drawdown Indicators

	GSST	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-3.51%	-21.06%	+17.55%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-9.51%	+9.36%
Max Drawdown (3Y) Largest decline over 3 years	-0.25%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-1.19%	—	—
Current Drawdown Current decline from peak	0.00%	-0.19%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.16%	-2.27%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	2.15%	-2.13%

Volatility

GSST vs. GPIQ - Volatility Comparison

The current volatility for Goldman Sachs Ultra Short Bond ETF (GSST) is 0.13%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 3.39%. This indicates that GSST experiences smaller price fluctuations and is considered to be less risky than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSST	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	3.39%	-3.26%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	10.44%	-10.03%
Volatility (1Y) Calculated over the trailing 1-year period	0.58%	13.40%	-12.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.63%	17.47%	-16.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	17.47%	-16.61%

GSST vs. GPIQ - Expense Ratio Comparison

GSST has a 0.16% expense ratio, which is lower than GPIQ's 0.29% expense ratio.

Dividends

GSST vs. GPIQ - Dividend Comparison

GSST's dividend yield for the trailing twelve months is around 4.32%, less than GPIQ's 9.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.32%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%
GSST Goldman Sachs Ultra Short Bond ETF	4.32%	4.56%	5.45%	4.98%	1.97%	0.71%	1.12%	1.66%

Frequently Asked Questions

Can I hold both GSST and GPIQ in my portfolio?

GSST and GPIQ have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSST or GPIQ?

GPIQ has higher volatility (3.39%) compared to GSST (0.13%). In terms of maximum drawdown, GSST dropped -3.51% vs GPIQ's -21.06%.

Which ETF is better, GSST or GPIQ?

On 1-year performance, GPIQ leads with 37.50% vs 4.61% for GSST. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSST or GPIQ?

Over the 1-year period, GPIQ has performed better with a 37.50% return vs 4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSST or GPIQ?

GSST is cheaper with a 0.16% expense ratio, compared with 0.29% for GPIQ.

Which ETF pays a higher dividend yield, GSST or GPIQ?

GPIQ has the higher dividend yield at 9.32%, compared with 4.32% for GSST.

What is the main difference between GSST and GPIQ?

GSST is categorized as Ultrashort Bond, while GPIQ is Nasdaq-100. Their fees differ too: 0.16% for GSST and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GSST currently has the higher Sharpe Ratio (7.98 vs 2.81), 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.