GSWO vs. GPIX

Last updated Jun 4, 2026

GSWO (Goldman Sachs ActiveBeta World Equity ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. GSWO is passively managed, while GPIX is actively managed. Over the past year, GSWO returned 20.17% vs 25.55% for GPIX. Their correlation of 0.80 suggests significant overlap in exposure. GSWO charges 0.25%/yr vs 0.29%/yr for GPIX.

Performance

GSWO vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta World Equity ETF (GSWO) 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, GSWO achieves a 11.00% return, which is significantly higher than GPIX's 9.91% return.

GSWO

• 1D: -0.71%
• 1M: 4.81%
• YTD: 11.00%
• 6M: 11.56%
• 1Y: 20.17%
• 3Y*: 18.70%
• 5Y*: —
• 10Y*: —

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)

GSWO vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSWO Goldman Sachs ActiveBeta World Equity ETF	11.00%	18.97%	15.29%	12.71%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.91%	16.25%	21.77%	13.45%

Correlation

The correlation between GSWO and GPIX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.80

The correlation between GSWO and GPIX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

GSWO vs. GPIX — Risk / Return Rank

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

GSWO

GSWO Risk / Return Rank: 56
GSWO Sharpe Ratio Rank: 55
GSWO Sortino Ratio Rank: 59
GSWO Omega Ratio Rank: 56
GSWO Calmar Ratio Rank: 46
GSWO Martin Ratio Rank: 61

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.

GSWO vs. GPIX - Risk-Adjusted Trends Comparison

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

	GSWO	GPIX	Difference
Sharpe ratio Return per unit of total volatility	1.88	2.52	-0.64
Sortino ratio Return per unit of downside risk	2.77	3.48	-0.71
Omega ratio Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio Return relative to maximum drawdown	2.27	3.33	-1.06
Martin ratio Return relative to average drawdown	10.87	16.77	-5.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSWO vs. GPIX - Sharpe Ratio Comparison

The current GSWO Sharpe Ratio is 1.88, which is comparable to the GPIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of GSWO 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

	GSWO	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.52	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.78	-0.79

Drawdowns

GSWO vs. GPIX - Drawdown Comparison

The maximum GSWO drawdown since its inception was -17.77%, roughly equal to the maximum GPIX drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for GSWO and GPIX.

Drawdown Indicators

	GSWO	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.77%	-17.50%	-0.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-7.71%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-9.97%	—	—
Current Drawdown Current decline from peak	-0.71%	-0.48%	-0.23%
Average Drawdown Average peak-to-trough decline	-3.25%	-1.48%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.53%	+0.33%

Volatility

GSWO vs. GPIX - Volatility Comparison

Goldman Sachs ActiveBeta World Equity ETF (GSWO) has a higher volatility of 3.22% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that GSWO'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

	GSWO	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	2.26%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	9.02%	7.89%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	10.17%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.96%	13.80%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.96%	13.80%	-0.84%

GSWO vs. GPIX - Expense Ratio Comparison

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

Dividends

GSWO vs. GPIX - Dividend Comparison

GSWO's dividend yield for the trailing twelve months is around 1.61%, less than GPIX's 8.00% yield.

Position	TTM	2025	2024	2023	2022
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.00%	8.01%	7.45%	1.40%	0.00%
GSWO Goldman Sachs ActiveBeta World Equity ETF	1.61%	1.74%	1.75%	2.06%	1.73%

Frequently Asked Questions

Can I hold both GSWO and GPIX in my portfolio?

GSWO and GPIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSWO or GPIX?

GSWO has higher volatility (3.22%) compared to GPIX (2.26%). In terms of maximum drawdown, GSWO dropped -17.77% vs GPIX's -17.50%.

Which ETF is better, GSWO or GPIX?

On 1-year performance, GPIX leads with 25.55% vs 20.17% for GSWO. On fees, GSWO 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, GSWO or GPIX?

Over the 1-year period, GPIX has performed better with a 25.55% return vs 20.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSWO or GPIX?

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

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

GPIX has the higher dividend yield at 8.00%, compared with 1.61% for GSWO.

What is the main difference between GSWO and GPIX?

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

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.52 vs 1.88), 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.