IEFA vs. GPIQ

Last updated Jul 26, 2026

IEFA (iShares Core MSCI EAFE ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. IEFA is passively managed, while GPIQ is actively managed. Over the past year, IEFA returned 17.75% vs 21.40% for GPIQ. Their 0.62 correlation means they have sometimes moved together and sometimes differently. IEFA charges 0.07%/yr vs 0.29%/yr for GPIQ.

Performance

IEFA vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EAFE ETF (IEFA) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IEFA achieves a 9.45% return, which is significantly lower than GPIQ's 10.98% return.

IEFA

• 1D: 0.61%
• 1M: 0.32%
• 6M: 4.92%
• YTD: 9.45%
• 1Y: 17.75%
• 3Y*: 15.52%
• 5Y*: 8.55%
• 10Y*: 9.38%
• ALL TIME*: 8.38%

GPIQ

• 1D: -1.08%
• 1M: -3.82%
• 6M: 9.18%
• YTD: 10.98%
• 1Y: 21.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	$68.84M	$77.85M	$80.88M
IEFA iShares Core MSCI EAFE ETF	$895.79M	$960.37M	$950.39M

IEFA vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IEFA iShares Core MSCI EAFE ETF	9.45%	32.08%	3.26%	15.33%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	10.98%	19.77%	23.22%	15.17%

Correlation

The correlation between IEFA and GPIQ is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.62

The correlation between IEFA and GPIQ has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

IEFA vs. GPIQ - Sectors Allocation Comparison

Sectors	IEFA	GPIQ
Financial Services	25.5%	0.2%
Industrials	19.3%	4.0%
Technology	12.1%	60.6%
Healthcare	10.0%	3.7%
Consumer Cyclical	7.3%	10.6%
Consumer Defensive	6.5%	6.2%
Basic Materials	6.2%	1.1%
Energy	3.7%	0.5%
Utilities	3.5%	1.3%
Communication Services	3.4%	12.2%
Real Estate	2.2%	0.1%

Return for Risk

IEFA vs. GPIQ — Risk / Return Rank

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

IEFA

IEFA Risk / Return Rank: 47
IEFA Sharpe Ratio Rank: 47
IEFA Sortino Ratio Rank: 47
IEFA Omega Ratio Rank: 46
IEFA Calmar Ratio Rank: 43
IEFA Martin Ratio Rank: 51

GPIQ

GPIQ Risk / Return Rank: 60
GPIQ Sharpe Ratio Rank: 57
GPIQ Sortino Ratio Rank: 53
GPIQ Omega Ratio Rank: 55
GPIQ Calmar Ratio Rank: 65
GPIQ Martin Ratio Rank: 71

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.

IEFA vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). 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.

	IEFA	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.34	-0.20
Sortino ratio: Return per unit of downside risk	1.67	1.85	-0.18
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	1.54	2.28	-0.74
Martin ratio: Return relative to average drawdown	5.85	8.75	-2.90

IEFA vs. GPIQ - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.14, which is comparable to the GPIQ Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of IEFA and GPIQ, 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

IEFA vs. GPIQ - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for IEFA and GPIQ.

Drawdown Indicators

	IEFA	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.78%	-21.06%	-13.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	-9.51%	-1.99%
Max Drawdown (3Y) Largest decline over 3 years	-13.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.78%	—	—
Current Drawdown Current decline from peak	-2.00%	-6.47%	+4.47%
Average Drawdown Average peak-to-trough decline	-6.63%	-2.30%	-4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.47%	+0.55%

Volatility

IEFA vs. GPIQ - Volatility Comparison

The current volatility for iShares Core MSCI EAFE ETF (IEFA) is 4.00%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 6.13%. This indicates that IEFA experiences smaller price fluctuations and is considered to be less risky than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEFA	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	6.13%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	13.56%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	16.22%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.59%	17.97%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	17.97%	-0.95%

IEFA vs. GPIQ - Expense Ratio Comparison

IEFA has a 0.07% expense ratio, which is lower than GPIQ's 0.29% expense ratio.

Dividends

IEFA vs. GPIQ - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.41%, less than GPIQ's 10.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	10.18%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEFA iShares Core MSCI EAFE ETF	3.41%	3.55%	3.47%	3.20%	2.70%	3.32%	1.90%	3.18%	3.46%	2.57%	2.96%	2.63%

Frequently Asked Questions

Can I hold both IEFA and GPIQ in my portfolio?

IEFA and GPIQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEFA or GPIQ?

GPIQ has higher volatility (6.13%) compared to IEFA (4.00%). In terms of maximum drawdown, IEFA dropped -34.78% vs GPIQ's -21.06%.

Which ETF is better, IEFA or GPIQ?

On 1-year performance, GPIQ leads with 21.40% vs 17.75% for IEFA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEFA or GPIQ?

Over the 1-year period, GPIQ has performed better with a 21.40% return vs 17.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEFA or GPIQ?

IEFA is cheaper with a 0.07% expense ratio, compared with 0.29% for GPIQ.

Which ETF pays a higher dividend yield, IEFA or GPIQ?

GPIQ has the higher dividend yield at 10.18%, compared with 3.41% for IEFA.

What is the main difference between IEFA and GPIQ?

IEFA is categorized as Foreign Large Cap Equities, while GPIQ is Nasdaq-100. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.07% for IEFA and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (1.34 vs 1.14), 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.