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IEFA vs. GPIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFA vs. GPIX

Last updated Jul 26, 2026
Documentation

IEFA (iShares Core MSCI EAFE ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net), while GPIX is a Derivative Income fund actively managed by Goldman Sachs. IEFA is passively managed, while GPIX is actively managed. Over the past year, IEFA returned 17.75% vs 17.54% for GPIX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. IEFA charges 0.07%/yr vs 0.29%/yr for GPIX.

Performance

IEFA vs. GPIX - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with IEFA having a 9.45% return and GPIX slightly lower at 9.04%.

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%

GPIX

1D
0.09%
1M
1.01%
6M
7.83%
YTD
9.04%
1Y
17.54%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
22.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

GPIX

Goldman Sachs S&P 500 Premium Income ETF
$50.34M$51.86M$49.74M

IEFA

iShares Core MSCI EAFE ETF
$895.79M$960.37M$950.39M

IEFA vs. GPIX - Yearly Performance Comparison

2026 (YTD)202520242023
IEFA
iShares Core MSCI EAFE ETF		9.45%32.08%3.26%15.33%
GPIX
Goldman Sachs S&P 500 Premium Income ETF		9.04%16.25%21.77%13.04%

Correlation

The correlation between IEFA and GPIX is 0.77, 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.

0.77

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2023

0.69

The correlation between IEFA and GPIX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

IEFA vs. GPIX - Sectors Allocation Comparison

Sectors
IEFA
GPIX

Financial Services

25.5%
11.9%

Industrials

19.3%
8.4%

Technology

12.1%
38.5%

Healthcare

10.0%
8.9%

Consumer Cyclical

7.3%
9.5%

Consumer Defensive

6.5%
4.7%

Basic Materials

6.2%
1.7%

Energy

3.7%
3.0%

Utilities

3.5%
2.2%

Communication Services

3.4%
9.5%

Real Estate

2.2%
1.8%

Financial Services

IEFA
25.5%
GPIX
11.9%

Industrials

IEFA
19.3%
GPIX
8.4%

Technology

IEFA
12.1%
GPIX
38.5%

Healthcare

IEFA
10.0%
GPIX
8.9%

Consumer Cyclical

IEFA
7.3%
GPIX
9.5%

Consumer Defensive

IEFA
6.5%
GPIX
4.7%

Basic Materials

IEFA
6.2%
GPIX
1.7%

Energy

IEFA
3.7%
GPIX
3.0%

Utilities

IEFA
3.5%
GPIX
2.2%

Communication Services

IEFA
3.4%
GPIX
9.5%

Real Estate

IEFA
2.2%
GPIX
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core MSCI EAFE ETF

Goldman Sachs S&P 500 Premium Income ETF

Often compared with IEFA:
IEFA vs. VEAIEFA vs. VXUSIEFA vs. EFAIEFA vs. FSPSXIEFA vs. IEMGIEFA vs. XEF.TOIEFA vs. IXUS
Often compared with GPIX:
GPIX vs. GPIQGPIX vs. SPYIGPIX vs. JEPIGPIX vs. VOOGPIX vs. SPYGPIX vs. JEPQGPIX vs. BALI

Return for Risk

IEFA vs. GPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFA
IEFA Risk / Return Rank: 4747
Overall Rank
IEFA Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IEFA Sortino Ratio Rank: 4747
Sortino Ratio Rank
IEFA Omega Ratio Rank: 4646
Omega Ratio Rank
IEFA Calmar Ratio Rank: 4343
Calmar Ratio Rank
IEFA Martin Ratio Rank: 5151
Martin Ratio Rank
GPIX
GPIX Risk / Return Rank: 7373
Overall Rank
GPIX Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
GPIX Sortino Ratio Rank: 7171
Sortino Ratio Rank
GPIX Omega Ratio Rank: 7373
Omega Ratio Rank
GPIX Calmar Ratio Rank: 6767
Calmar Ratio Rank
GPIX Martin Ratio Rank: 8282
Martin Ratio Rank
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. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EAFE ETF (IEFA) 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.

IEFAGPIXDifference
Sharpe ratioReturn per unit of total volatility
1.14
1.64

-0.50

Sortino ratioReturn per unit of downside risk
1.67
2.30

-0.62

Omega ratioGain probability vs. loss probability

1.21

1.30

-0.10

Calmar ratioReturn relative to maximum drawdown

1.54

2.33

-0.80

Martin ratioReturn relative to average drawdown

5.85

11.09

-5.25

IEFA vs. GPIX - Sharpe Ratio Comparison

The current IEFA Sharpe Ratio is 1.14, which is lower than the GPIX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of IEFA 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.

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Drawdowns

IEFA vs. GPIX - Drawdown Comparison

The maximum IEFA drawdown since its inception was -34.78%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for IEFA and GPIX.

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Drawdown Indicators

IEFAGPIXDifference

Max Drawdown

Largest peak-to-trough decline

-34.78%

-17.50%

-17.28%

Max Drawdown (1Y)

Largest decline over 1 year

-11.50%

-7.71%

-3.79%

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%

-1.65%

-0.35%

Average Drawdown

Average peak-to-trough decline

-6.63%

-1.46%

-5.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

1.62%

+1.40%

Volatility

IEFA vs. GPIX - Volatility Comparison

iShares Core MSCI EAFE ETF (IEFA) has a higher volatility of 4.00% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.63%. This indicates that IEFA'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

IEFAGPIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.00%

2.63%

+1.37%

Volatility (6M)

Calculated over the trailing 6-month period

13.48%

8.74%

+4.74%

Volatility (1Y)

Calculated over the trailing 1-year period

15.55%

10.98%

+4.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.59%

13.75%

+2.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.02%

13.75%

+3.27%

IEFA vs. GPIX - Expense Ratio Comparison

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

Dividends

IEFA vs. GPIX - Dividend Comparison

IEFA's dividend yield for the trailing twelve months is around 3.41%, less than GPIX's 8.19% yield.

PositionTTM20252024202320222021202020192018201720162015
GPIX
Goldman Sachs S&P 500 Premium Income ETF		8.19%8.01%7.45%1.40%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

IEFA and GPIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEFA has higher volatility (4.00%) compared to GPIX (2.63%). In terms of maximum drawdown, IEFA dropped -34.78% vs GPIX's -17.50%.

On 1-year performance, IEFA leads with 17.75% vs 17.54% for GPIX. On fees, IEFA is cheaper at 0.07% per year. On volatility, GPIX has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, IEFA has performed better with a 17.75% return vs 17.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

GPIX has the higher dividend yield at 8.19%, compared with 3.41% for IEFA.

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

GPIX currently has the higher Sharpe Ratio (1.64 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.

Portfolio Optimizer

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