GTIP vs. ^GSPC
GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) is Inflation-Protected Bonds fund tracking the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, GTIP returned 0.90%/yr vs 11.99%/yr for ^GSPC. At a 0.10 correlation, their price movements are largely independent.
Performance
GTIP vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, GTIP achieves a 0.84% return, which is significantly lower than ^GSPC's 9.16% return.
GTIP
- 1D
- -0.49%
- 1M
- -0.13%
- YTD
- 0.84%
- 6M
- 0.90%
- 1Y
- 3.50%
- 3Y*
- 3.61%
- 5Y*
- 0.90%
- 10Y*
- —
^GSPC
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GTIP vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 0.84% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.32% |
^GSPC S&P 500 Index | 9.16% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -14.31% |
Correlation
The correlation between GTIP and ^GSPC is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.10 |
The correlation between GTIP and ^GSPC shifts across timeframes, from 0.10 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GTIP vs. ^GSPC — Risk / Return Rank
GTIP
^GSPC
GTIP vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) and S&P 500 Index (^GSPC). 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.
| GTIP | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.78 | -1.04 |
| Martin ratioReturn relative to average drawdown | 5.43 | 12.44 | -7.00 |
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Drawdowns
GTIP vs. ^GSPC - Drawdown Comparison
The maximum GTIP drawdown since its inception was -14.31%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for GTIP and ^GSPC.
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Drawdown Indicators
| GTIP | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.31% | -56.78% | +42.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -9.10% | +7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -18.90% | +14.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -25.43% | +11.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.01% | -1.80% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -10.71% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.03% | -1.38% |
Volatility
GTIP vs. ^GSPC - Volatility Comparison
The current volatility for Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) is 1.15%, while S&P 500 Index (^GSPC) has a volatility of 4.67%. This indicates that GTIP experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTIP | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 4.67% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 9.84% | -7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.37% | 12.50% | -9.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 16.99% | -10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.00% | 18.11% | -12.11% |
Frequently Asked Questions
GTIP and ^GSPC have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (4.67%) compared to GTIP (1.15%). In terms of maximum drawdown, GTIP dropped -14.31% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.03 vs 1.05), 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.
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