IHYG.L vs. GPIX

Last updated Jun 5, 2026

IHYG.L (iShares € High Yield Corp Bond UCITS ETF EUR (Dist)) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - IHYG.L is a European High Yield Bonds fund tracking the Markit iBoxx Euro Liquid High Yield Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. IHYG.L is passively managed, while GPIX is actively managed. Over the past year, IHYG.L returned 3.29% vs 22.87% for GPIX. At a 0.27 correlation, their price movements are largely independent. IHYG.L charges 0.50%/yr vs 0.29%/yr for GPIX.

Performance

IHYG.L vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IHYG.L is traded in EUR, while GPIX is traded in USD. To make them comparable, the GPIX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IHYG.L achieves a 0.69% return, which is significantly lower than GPIX's 9.97% return.

IHYG.L

• 1D: 0.07%
• 1M: 0.48%
• YTD: 0.69%
• 6M: 1.34%
• 1Y: 3.29%
• 3Y*: 6.31%
• 5Y*: 2.68%
• 10Y*: 3.09%

GPIX

• 1D: -1.39%
• 1M: 2.57%
• YTD: 9.97%
• 6M: 9.17%
• 1Y: 22.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IHYG.L vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist)	0.69%	5.32%	5.71%	6.60%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.97%	2.45%	29.81%	8.58%

Correlation

The correlation between IHYG.L and GPIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.27

The correlation between IHYG.L and GPIX shifts across timeframes, from 0.27 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

IHYG.L vs. GPIX - Sectors Allocation Comparison

Sectors	IHYG.L	GPIX
Financial Services	100.0%	11.6%
Basic Materials	-	1.8%
Communication Services	-	11.5%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.4%
Industrials	-	8.4%
Real Estate	-	2.0%
Technology	-	35.5%
Utilities	-	2.4%

Return for Risk

IHYG.L vs. GPIX — Risk / Return Rank

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

IHYG.L

IHYG.L Risk / Return Rank: 27
IHYG.L Sharpe Ratio Rank: 26
IHYG.L Sortino Ratio Rank: 27
IHYG.L Omega Ratio Rank: 26
IHYG.L Calmar Ratio Rank: 25
IHYG.L Martin Ratio Rank: 32

GPIX

GPIX Risk / Return Rank: 72
GPIX Sharpe Ratio Rank: 72
GPIX Sortino Ratio Rank: 70
GPIX Omega Ratio Rank: 75
GPIX Calmar Ratio Rank: 63
GPIX Martin Ratio Rank: 80

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.

IHYG.L vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) 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.

	IHYG.L	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.88	2.10	-1.21
Sortino ratio: Return per unit of downside risk	1.43	2.74	-1.31
Omega ratio: Gain probability vs. loss probability	1.17	1.40	-0.22
Calmar ratio: Return relative to maximum drawdown	1.14	3.83	-2.70
Martin ratio: Return relative to average drawdown	4.71	14.91	-10.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHYG.L vs. GPIX - Sharpe Ratio Comparison

The current IHYG.L Sharpe Ratio is 0.88, which is lower than the GPIX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IHYG.L 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.

Sharpe Ratios by Period

	IHYG.L	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	2.10	-1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.27	-0.64

Drawdowns

IHYG.L vs. GPIX - Drawdown Comparison

The maximum IHYG.L drawdown since its inception was -25.61%, which is greater than GPIX's maximum drawdown of -22.74%. Use the drawdown chart below to compare losses from any high point for IHYG.L and GPIX.

Drawdown Indicators

	IHYG.L	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-22.74%	-2.87%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-5.99%	+3.23%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.61%	—	—
Current Drawdown Current decline from peak	-0.16%	-1.41%	+1.25%
Average Drawdown Average peak-to-trough decline	-2.05%	-3.12%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.54%	-0.87%

Volatility

IHYG.L vs. GPIX - Volatility Comparison

The current volatility for iShares € High Yield Corp Bond UCITS ETF EUR (Dist) (IHYG.L) is 1.01%, while Goldman Sachs S&P 500 Premium Income ETF (GPIX) has a volatility of 2.30%. This indicates that IHYG.L 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

	IHYG.L	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	2.30%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	3.07%	7.82%	-4.75%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	10.98%	-7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	15.36%	-9.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.79%	15.36%	-8.57%

IHYG.L vs. GPIX - Expense Ratio Comparison

IHYG.L has a 0.50% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

IHYG.L vs. GPIX - Dividend Comparison

IHYG.L's dividend yield for the trailing twelve months is around 5.17%, less than GPIX's 8.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.15%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IHYG.L iShares € High Yield Corp Bond UCITS ETF EUR (Dist)	5.17%	5.44%	6.10%	5.41%	3.70%	3.07%	3.67%	3.76%	3.68%	3.77%	4.03%	4.59%

Frequently Asked Questions

Can I hold both IHYG.L and GPIX in my portfolio?

IHYG.L and GPIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IHYG.L or GPIX?

On fees, GPIX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IHYG.L or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.50% for IHYG.L.

What is the main difference between IHYG.L and GPIX?

IHYG.L is categorized as European High Yield Bonds, while GPIX is Derivative Income. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.50% for IHYG.L and 0.29% for GPIX.