GVLE vs. GVIP

Last updated Jun 6, 2026

GVLE (Goldman Sachs Value Opportunities ETF) and GVIP (Goldman Sachs Hedge Industry VIP ETF) are both exchange-traded funds - GVLE is a Large Cap Value Equities fund actively managed by Goldman Sachs, while GVIP is a Large Cap Growth Equities fund tracking the Goldman Sachs Hedge Fund VIP Index. GVLE is actively managed, while GVIP is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

GVLE vs. GVIP - Performance Comparison

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

Returns By Period

In the year-to-date period, GVLE achieves a 10.29% return, which is significantly lower than GVIP's 11.65% return.

GVLE

• 1D: -2.20%
• 1M: 1.23%
• YTD: 10.29%
• 6M: 10.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GVIP

• 1D: -4.51%
• 1M: -1.42%
• YTD: 11.65%
• 6M: 12.21%
• 1Y: 31.19%
• 3Y*: 28.68%
• 5Y*: 12.01%
• 10Y*: —

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

GVLE vs. GVIP - Yearly Performance Comparison

	2026 (YTD)	2025
GVLE Goldman Sachs Value Opportunities ETF	10.29%	4.29%
GVIP Goldman Sachs Hedge Industry VIP ETF	11.65%	3.93%

Correlation

The correlation between GVLE and GVIP is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.80

Return for Risk

GVLE vs. GVIP — Risk / Return Rank

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

GVIP

GVIP Risk / Return Rank: 51
GVIP Sharpe Ratio Rank: 51
GVIP Sortino Ratio Rank: 47
GVIP Omega Ratio Rank: 50
GVIP Calmar Ratio Rank: 48
GVIP Martin Ratio Rank: 58

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.

GVLE vs. GVIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Value Opportunities ETF (GVLE) and Goldman Sachs Hedge Industry VIP ETF (GVIP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GVLE	GVIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.67	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.12	0.79	+1.33

Drawdowns

GVLE vs. GVIP - Drawdown Comparison

The maximum GVLE drawdown since its inception was -7.88%, smaller than the maximum GVIP drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for GVLE and GVIP.

Drawdown Indicators

	GVLE	GVIP	Difference
Max Drawdown Largest peak-to-trough decline	-7.88%	-37.09%	+29.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.09%	—
Current Drawdown Current decline from peak	-2.20%	-4.51%	+2.31%
Average Drawdown Average peak-to-trough decline	-1.31%	-7.59%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.15%	—

Volatility

Volatility by Period

	GVLE	GVIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.86%	18.71%	-4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	21.38%	-7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	21.69%	-7.83%

GVLE vs. GVIP - Expense Ratio Comparison

Both GVLE and GVIP have an expense ratio of 0.45%.

Dividends

GVLE vs. GVIP - Dividend Comparison

GVLE's dividend yield for the trailing twelve months is around 1.05%, more than GVIP's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GVIP Goldman Sachs Hedge Industry VIP ETF	0.30%	0.34%	0.29%	0.77%	0.02%	0.00%	0.12%	0.77%	0.44%	0.45%	0.08%
GVLE Goldman Sachs Value Opportunities ETF	1.05%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVLE and GVIP in my portfolio?

GVLE and GVIP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GVLE or GVIP?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GVLE or GVIP?

GVLE and GVIP have the same expense ratio: 0.45% per year.

Which ETF pays a higher dividend yield, GVLE or GVIP?

GVLE has the higher dividend yield at 1.05%, compared with 0.30% for GVIP.

What is the main difference between GVLE and GVIP?

GVLE is categorized as Large Cap Value Equities, while GVIP is Large Cap Growth Equities.