HDV vs. GPIX

Last updated Jun 14, 2026

HDV (iShares Core High Dividend ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. HDV is passively managed, while GPIX is actively managed. Over the past year, HDV returned 21.86% vs 23.85% for GPIX. At a 0.30 correlation, their price movements are largely independent. HDV charges 0.08%/yr vs 0.29%/yr for GPIX.

Performance

HDV vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDV achieves a 15.30% return, which is significantly higher than GPIX's 8.64% return.

HDV

• 1D: 0.87%
• 1M: 2.09%
• YTD: 15.30%
• 6M: 15.20%
• 1Y: 21.86%
• 3Y*: 15.16%
• 5Y*: 10.91%
• 10Y*: 9.47%

GPIX

• 1D: 0.55%
• 1M: 0.57%
• YTD: 8.64%
• 6M: 9.22%
• 1Y: 23.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HDV vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HDV iShares Core High Dividend ETF	15.30%	11.90%	14.16%	6.75%
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.64%	16.25%	21.77%	13.04%

Correlation

The correlation between HDV and GPIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.30

The correlation between HDV and GPIX shifts across timeframes, from 0.13 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

HDV vs. GPIX - Sectors Allocation Comparison

Sectors	HDV	GPIX
Consumer Defensive	24.2%	4.4%
Energy	21.0%	3.2%
Healthcare	17.0%	8.3%
Financial Services	10.8%	10.9%
Technology	9.7%	39.2%
Utilities	8.9%	2.2%
Consumer Cyclical	6.0%	10.1%
Industrials	1.3%	7.7%
Basic Materials	1.1%	1.7%
Communication Services	0.1%	10.7%
Real Estate	-	1.8%

Return for Risk

HDV vs. GPIX — Risk / Return Rank

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

HDV

HDV Risk / Return Rank: 80
HDV Sharpe Ratio Rank: 81
HDV Sortino Ratio Rank: 85
HDV Omega Ratio Rank: 76
HDV Calmar Ratio Rank: 86
HDV Martin Ratio Rank: 72

GPIX

GPIX Risk / Return Rank: 77
GPIX Sharpe Ratio Rank: 78
GPIX Sortino Ratio Rank: 76
GPIX Omega Ratio Rank: 80
GPIX Calmar Ratio Rank: 68
GPIX Martin Ratio Rank: 83

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.

HDV vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) 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.

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.

	HDV	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.15	+0.07
Sortino ratio: Return per unit of downside risk	3.29	2.94	+0.35
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	4.18	2.97	+1.21
Martin ratio: Return relative to average drawdown	11.59	14.51	-2.93

HDV vs. GPIX - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 2.23, which is comparable to the GPIX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of HDV and GPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDV vs. GPIX - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for HDV and GPIX.

Drawdown Indicators

	HDV	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-17.50%	-19.54%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-7.71%	+2.53%
Max Drawdown (3Y) Largest decline over 3 years	-10.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.04%	—	—
Current Drawdown Current decline from peak	-0.29%	-1.63%	+1.34%
Average Drawdown Average peak-to-trough decline	-3.08%	-1.49%	-1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.57%	+0.30%

Volatility

HDV vs. GPIX - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.10%, while Goldman Sachs S&P 500 Premium Income ETF (GPIX) has a volatility of 3.77%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than GPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDV	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	3.77%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	7.44%	8.51%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	10.62%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.83%	13.86%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	13.86%	+1.87%

HDV vs. GPIX - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than GPIX's 0.29% expense ratio.

Dividends

HDV vs. GPIX - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.84%, less than GPIX's 8.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.09%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDV iShares Core High Dividend ETF	2.84%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%

Frequently Asked Questions

Can I hold both HDV and GPIX in my portfolio?

HDV and GPIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDV or GPIX?

GPIX has higher volatility (3.77%) compared to HDV (3.10%). In terms of maximum drawdown, HDV dropped -37.04% vs GPIX's -17.50%.

Which ETF is better, HDV or GPIX?

On 1-year performance, GPIX leads with 23.85% vs 21.86% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDV or GPIX?

Over the 1-year period, GPIX has performed better with a 23.85% return vs 21.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDV or GPIX?

HDV is cheaper with a 0.08% expense ratio, compared with 0.29% for GPIX.

Which ETF pays a higher dividend yield, HDV or GPIX?

GPIX has the higher dividend yield at 8.09%, compared with 2.84% for HDV.

What is the main difference between HDV and GPIX?

HDV is categorized as Dividend, while GPIX is Derivative Income. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.08% for HDV and 0.29% for GPIX.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.23 vs 2.15), 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.