HDLB vs. GPIX
HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%), while GPIX is a Derivative Income fund actively managed by Goldman Sachs. HDLB is passively managed, while GPIX is actively managed. Over the past year, HDLB returned 17.78% vs 25.55% for GPIX. At a 0.24 correlation, their price movements are largely independent. HDLB charges 1.65%/yr vs 0.29%/yr for GPIX.
Performance
HDLB vs. GPIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HDLB having a 9.69% return and GPIX slightly higher at 9.91%.
HDLB
- 1D
- -1.72%
- 1M
- -4.18%
- YTD
- 9.69%
- 6M
- 8.78%
- 1Y
- 17.78%
- 3Y*
- 26.82%
- 5Y*
- 11.24%
- 10Y*
- —
GPIX
- 1D
- -0.48%
- 1M
- 4.27%
- YTD
- 9.91%
- 6M
- 10.34%
- 1Y
- 25.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDLB vs. GPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 9.69% | 27.26% | 28.21% | 26.26% |
GPIX Goldman Sachs S&P 500 Premium Income ETF | 9.91% | 16.25% | 21.77% | 13.45% |
Correlation
The correlation between HDLB and GPIX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023 | 0.24 |
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Return for Risk
HDLB vs. GPIX — Risk / Return Rank
HDLB
GPIX
HDLB vs. GPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) 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.
| HDLB | GPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.48 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 3.33 | -2.10 |
| Martin ratioReturn relative to average drawdown | 2.69 | 16.77 | -14.08 |
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
| HDLB | GPIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 2.52 | -1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 1.78 | -1.69 |
Drawdowns
HDLB vs. GPIX - Drawdown Comparison
The maximum HDLB drawdown since its inception was -78.70%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for HDLB and GPIX.
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Drawdown Indicators
| HDLB | GPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.70% | -17.50% | -61.20% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -7.71% | -6.79% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.81% | — | — |
Current DrawdownCurrent decline from peak | -14.15% | -0.48% | -13.67% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -1.48% | -25.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 1.53% | +5.09% |
Volatility
HDLB vs. GPIX - Volatility Comparison
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a higher volatility of 6.21% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that HDLB'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.
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Volatility by Period
| HDLB | GPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 2.26% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 7.89% | +10.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.46% | 10.17% | +16.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 13.80% | +16.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.58% | 13.80% | +29.78% |
HDLB vs. GPIX - Expense Ratio Comparison
HDLB has a 1.65% expense ratio, which is higher than GPIX's 0.29% expense ratio.
Dividends
HDLB vs. GPIX - Dividend Comparison
HDLB's dividend yield for the trailing twelve months is around 12.13%, more than GPIX's 8.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 8.00% | 8.01% | 7.45% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% |
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.13% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
Frequently Asked Questions
HDLB and GPIX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDLB has higher volatility (6.21%) compared to GPIX (2.26%). In terms of maximum drawdown, HDLB dropped -78.70% vs GPIX's -17.50%.
On 1-year performance, GPIX leads with 25.55% vs 17.78% for HDLB. On fees, GPIX is cheaper at 0.29% 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.
Over the 1-year period, GPIX has performed better with a 25.55% return vs 17.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GPIX is cheaper with a 0.29% expense ratio, compared with 1.65% for HDLB.
HDLB has the higher dividend yield at 12.13%, compared with 8.00% for GPIX.
HDLB is categorized as Leveraged Equities, while GPIX is Derivative Income. They also come from different issuers: UBS and Goldman Sachs. Their fees differ too: 1.65% for HDLB and 0.29% for GPIX.
GPIX currently has the higher Sharpe Ratio (2.52 vs 0.68), 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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