GTIP vs. GSST
GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) are both exchange-traded funds - GTIP is a Inflation-Protected Bonds fund tracking the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index, while GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. GTIP is passively managed, while GSST is actively managed. Over the past 5 years, GTIP returned 1.09%/yr vs 3.75%/yr for GSST. At a 0.30 correlation, their price movements are largely independent. GTIP charges 0.12%/yr vs 0.16%/yr for GSST.
Performance
GTIP vs. GSST - Performance Comparison
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Returns By Period
In the year-to-date period, GTIP achieves a 1.70% return, which is significantly higher than GSST's 1.55% return.
GTIP
- 1D
- -0.08%
- 1M
- 0.04%
- YTD
- 1.70%
- 6M
- 1.11%
- 1Y
- 5.10%
- 3Y*
- 4.01%
- 5Y*
- 1.09%
- 10Y*
- —
GSST
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.61%
- 3Y*
- 5.52%
- 5Y*
- 3.75%
- 10Y*
- —
GTIP vs. GSST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 1.70% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 5.59% |
GSST Goldman Sachs Ultra Short Bond ETF | 1.55% | 5.20% | 6.01% | 6.08% | 0.13% | 0.05% | 1.74% | 2.65% |
Correlation
The correlation between GTIP and GSST is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2019 | 0.30 |
The correlation between GTIP and GSST shifts across timeframes, from 0.30 (all time) to 0.41 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GTIP vs. GSST — Risk / Return Rank
GTIP
GSST
GTIP vs. GSST - 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 Goldman Sachs Ultra Short Bond ETF (GSST). 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.
| GTIP | GSST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.44 | ||
| Sortino ratioReturn per unit of downside risk | -14.25 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 3.94 | -2.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 29.99 | -27.45 |
| Martin ratioReturn relative to average drawdown | 8.00 | 185.54 | -177.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GTIP | GSST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 7.98 | -6.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 5.99 | -5.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 3.78 | -3.23 |
Drawdowns
GTIP vs. GSST - Drawdown Comparison
The maximum GTIP drawdown since its inception was -14.31%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for GTIP and GSST.
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Drawdown Indicators
| GTIP | GSST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.31% | -3.51% | -10.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -0.15% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.47% | -0.25% | -4.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -1.19% | -13.12% |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -0.16% | -4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.02% | +0.62% |
Volatility
GTIP vs. GSST - Volatility Comparison
Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) has a higher volatility of 0.97% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.13%. This indicates that GTIP's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTIP | GSST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.13% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 0.41% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 0.58% | +2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 0.63% | +5.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 0.86% | +5.15% |
GTIP vs. GSST - Expense Ratio Comparison
GTIP has a 0.12% expense ratio, which is lower than GSST's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GTIP vs. GSST - Dividend Comparison
GTIP's dividend yield for the trailing twelve months is around 4.69%, more than GSST's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.32% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% | 0.00% |
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 4.69% | 4.58% | 3.52% | 2.77% | 6.47% | 3.82% | 1.04% | 2.34% | 0.66% |
Frequently Asked Questions
GTIP and GSST have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTIP has higher volatility (0.97%) compared to GSST (0.13%). In terms of maximum drawdown, GTIP dropped -14.31% vs GSST's -3.51%.
On 5-year performance, GSST leads with 3.75% vs 1.09% for GTIP. On fees, GTIP is cheaper at 0.12% 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.
Over the 5-year period, GSST has performed better with a 3.75% return vs 1.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTIP is cheaper with a 0.12% expense ratio, compared with 0.16% for GSST.
GTIP has the higher dividend yield at 4.69%, compared with 4.32% for GSST.
GTIP is categorized as Inflation-Protected Bonds, while GSST is Ultrashort Bond. Their fees differ too: 0.12% for GTIP and 0.16% for GSST.
GSST currently has the higher Sharpe Ratio (7.98 vs 1.53), 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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