GVIP vs. DIVO

Last updated Apr 1, 2026

Compare and contrast key facts about Goldman Sachs Hedge Industry VIP ETF (GVIP) and Amplify CWP Enhanced Dividend Income ETF (DIVO).

GVIP and DIVO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GVIP is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs Hedge Fund VIP Index. It was launched on Nov 1, 2016. DIVO is an actively managed fund by Amplify. It was launched on Dec 13, 2016.

Performance

GVIP vs. DIVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Hedge Industry VIP ETF (GVIP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). The values are adjusted to include any dividend payments, if applicable.

GVIP vs. DIVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GVIP Goldman Sachs Hedge Industry VIP ETF	-5.92%	25.27%	29.82%	39.15%	-31.95%	11.86%	44.12%	30.21%	-6.85%	25.79%
DIVO Amplify CWP Enhanced Dividend Income ETF	2.01%	17.40%	16.22%	6.95%	-1.46%	22.87%	12.40%	24.90%	-3.18%	21.41%

Returns By Period

In the year-to-date period, GVIP achieves a -5.92% return, which is significantly lower than DIVO's 2.01% return.

GVIP

• 1D: 4.35%
• 1M: -6.82%
• YTD: -5.92%
• 6M: -4.60%
• 1Y: 24.04%
• 3Y*: 24.28%
• 5Y*: 8.97%
• 10Y*: —

DIVO

• 1D: 1.93%
• 1M: -3.36%
• YTD: 2.01%
• 6M: 4.92%
• 1Y: 17.49%
• 3Y*: 14.14%
• 5Y*: 10.98%
• 10Y*: —

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

GVIP vs. DIVO - Expense Ratio Comparison

GVIP has a 0.45% expense ratio, which is lower than DIVO's 0.56% expense ratio.

DIVO

Amplify CWP Enhanced Dividend Income ETF

GVIP

Goldman Sachs Hedge Industry VIP ETF

Return for Risk

GVIP vs. DIVO — Risk / Return Rank

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

GVIP

GVIP Risk / Return Rank: 66
GVIP Sharpe Ratio Rank: 61
GVIP Sortino Ratio Rank: 63
GVIP Omega Ratio Rank: 63
GVIP Calmar Ratio Rank: 71
GVIP Martin Ratio Rank: 71

DIVO

DIVO Risk / Return Rank: 80
DIVO Sharpe Ratio Rank: 77
DIVO Sortino Ratio Rank: 79
DIVO Omega Ratio Rank: 80
DIVO Calmar Ratio Rank: 79
DIVO Martin Ratio Rank: 87

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.

GVIP vs. DIVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Hedge Industry VIP ETF (GVIP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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.

	GVIP	DIVO	Difference
Sharpe ratio Return per unit of total volatility	1.04	1.34	-0.30
Sortino ratio Return per unit of downside risk	1.55	1.96	-0.41
Omega ratio Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio Return relative to maximum drawdown	1.76	2.03	-0.27
Martin ratio Return relative to average drawdown	6.94	9.67	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GVIP vs. DIVO - Sharpe Ratio Comparison

The current GVIP Sharpe Ratio is 1.04, which is comparable to the DIVO Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of GVIP and DIVO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GVIP	DIVO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.34	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.92	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.83	-0.12

Correlation

The correlation between GVIP and DIVO is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GVIP vs. DIVO - Dividend Comparison

GVIP's dividend yield for the trailing twelve months is around 0.36%, less than DIVO's 6.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GVIP Goldman Sachs Hedge Industry VIP ETF	0.36%	0.34%	0.29%	0.77%	0.02%	0.00%	0.12%	0.77%	0.44%	0.45%	0.08%
DIVO Amplify CWP Enhanced Dividend Income ETF	6.49%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%	0.00%

Drawdowns

GVIP vs. DIVO - Drawdown Comparison

The maximum GVIP drawdown since its inception was -37.09%, which is greater than DIVO's maximum drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for GVIP and DIVO.

Drawdown Indicators

	GVIP	DIVO	Difference
Max Drawdown Largest peak-to-trough decline	-37.09%	-30.04%	-7.05%
Max Drawdown (1Y) Largest decline over 1 year	-13.67%	-9.21%	-4.46%
Max Drawdown (5Y) Largest decline over 5 years	-37.09%	-13.72%	-23.37%
Current Drawdown Current decline from peak	-9.91%	-4.13%	-5.78%
Average Drawdown Average peak-to-trough decline	-7.71%	-2.62%	-5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	1.93%	+1.54%

Volatility

GVIP vs. DIVO - Volatility Comparison

Goldman Sachs Hedge Industry VIP ETF (GVIP) has a higher volatility of 8.62% compared to Amplify CWP Enhanced Dividend Income ETF (DIVO) at 3.57%. This indicates that GVIP's price experiences larger fluctuations and is considered to be riskier than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVIP	DIVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.62%	3.57%	+5.05%
Volatility (6M) Calculated over the trailing 6-month period	14.52%	7.01%	+7.51%
Volatility (1Y) Calculated over the trailing 1-year period	23.32%	13.17%	+10.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.19%	11.93%	+9.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.68%	14.93%	+6.75%