IAUI vs. GPIX

Last updated Jul 14, 2026

IAUI (NEOS Gold High Income ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IAUI returned 10.51% vs 20.86% for GPIX. At a 0.25 correlation, their price movements are largely independent. IAUI charges 0.78%/yr vs 0.29%/yr for GPIX.

Performance

IAUI vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Gold High Income ETF (IAUI) 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, IAUI achieves a -7.82% return, which is significantly lower than GPIX's 10.17% return.

IAUI

• 1D: -2.12%
• 1M: -4.57%
• 6M: -12.10%
• YTD: -7.82%
• 1Y: 10.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GPIX

• 1D: -0.63%
• 1M: 1.41%
• 6M: 8.40%
• YTD: 10.17%
• 1Y: 20.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAUI vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	-7.82%	20.00%
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.17%	14.24%

Correlation

The correlation between IAUI and GPIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.25

Return for Risk

IAUI vs. GPIX — Risk / Return Rank

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

IAUI

IAUI Risk / Return Rank: 17
IAUI Sharpe Ratio Rank: 18
IAUI Sortino Ratio Rank: 17
IAUI Omega Ratio Rank: 19
IAUI Calmar Ratio Rank: 16
IAUI Martin Ratio Rank: 17

GPIX

GPIX Risk / Return Rank: 76
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 78
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.

IAUI vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Gold High Income ETF (IAUI) 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.

	IAUI	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.93	-1.44
Sortino ratio: Return per unit of downside risk	0.77	2.67	-1.90
Omega ratio: Gain probability vs. loss probability	1.11	1.36	-0.25
Calmar ratio: Return relative to maximum drawdown	0.47	2.72	-2.25
Martin ratio: Return relative to average drawdown	1.26	13.02	-11.75

IAUI vs. GPIX - Sharpe Ratio Comparison

The current IAUI Sharpe Ratio is 0.48, which is lower than the GPIX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of IAUI 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

IAUI vs. GPIX - Drawdown Comparison

The maximum IAUI drawdown since its inception was -22.50%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for IAUI and GPIX.

Drawdown Indicators

	IAUI	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-17.50%	-5.00%
Max Drawdown (1Y) Largest decline over 1 year	-22.50%	-7.71%	-14.79%
Current Drawdown Current decline from peak	-21.82%	-0.63%	-21.19%
Average Drawdown Average peak-to-trough decline	-4.92%	-1.47%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	1.61%	+6.74%

Volatility

IAUI vs. GPIX - Volatility Comparison

NEOS Gold High Income ETF (IAUI) has a higher volatility of 7.21% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 3.62%. This indicates that IAUI'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.

Volatility by Period

	IAUI	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	3.62%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	8.85%	+11.09%
Volatility (1Y) Calculated over the trailing 1-year period	21.83%	10.90%	+10.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.10%	13.80%	+7.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.10%	13.80%	+7.30%

IAUI vs. GPIX - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

IAUI vs. GPIX - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 14.07%, more than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.11%	8.01%	7.45%	1.40%
IAUI NEOS Gold High Income ETF	14.07%	6.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAUI and GPIX in my portfolio?

IAUI and GPIX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUI or GPIX?

IAUI has higher volatility (7.21%) compared to GPIX (3.62%). In terms of maximum drawdown, IAUI dropped -22.50% vs GPIX's -17.50%.

Which ETF is better, IAUI or GPIX?

On 1-year performance, GPIX leads with 20.86% vs 10.51% for IAUI. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUI or GPIX?

Over the 1-year period, GPIX has performed better with a 20.86% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUI or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.78% for IAUI.

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

IAUI has the higher dividend yield at 14.07%, compared with 8.11% for GPIX.

What is the main difference between IAUI and GPIX?

They also come from different issuers: Neos and Goldman Sachs. Their fees differ too: 0.78% for IAUI and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.93 vs 0.48), 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.