MAGY vs. GPIX

Last updated Aug 2, 2026

MAGY (Roundhill Magnificent Seven Covered Call ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MAGY returned 1.42% vs 21.14% for GPIX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. MAGY charges 0.99%/yr vs 0.29%/yr for GPIX.

Performance

MAGY vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Magnificent Seven Covered Call ETF (MAGY) 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, MAGY achieves a -6.83% return, which is significantly lower than GPIX's 10.23% return.

MAGY

• 1D: 2.29%
• 1M: 0.52%
• 6M: -7.69%
• YTD: -6.83%
• 1Y: 1.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.75%

GPIX

• 1D: 0.62%
• 1M: 0.62%
• 6M: 8.56%
• YTD: 10.23%
• 1Y: 21.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.80%

*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)
GPIX Goldman Sachs S&P 500 Premium Income ETF	$55.40M	$53.93M	$51.40M
MAGY Roundhill Magnificent Seven Covered Call ETF	$1.76M	$2.00M	$2.81M

MAGY vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	-6.83%	26.42%
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.23%	27.58%

Correlation

The correlation between MAGY and GPIX is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.77

The correlation between MAGY and GPIX has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

MAGY vs. GPIX - Sectors Allocation Comparison

Sectors	MAGY	GPIX
Financial Services	100.0%	11.9%
Basic Materials	-	1.7%
Communication Services	-	9.5%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.7%
Energy	-	3.0%
Healthcare	-	8.9%
Industrials	-	8.4%
Real Estate	-	1.8%
Technology	-	38.5%
Utilities	-	2.2%

Return for Risk

MAGY vs. GPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MAGY

MAGY Risk / Return Rank: 10
MAGY Sharpe Ratio Rank: 10
MAGY Sortino Ratio Rank: 10
MAGY Omega Ratio Rank: 10
MAGY Calmar Ratio Rank: 10
MAGY Martin Ratio Rank: 10

GPIX

GPIX Risk / Return Rank: 78
GPIX Sharpe Ratio Rank: 77
GPIX Sortino Ratio Rank: 76
GPIX Omega Ratio Rank: 78
GPIX Calmar Ratio Rank: 73
GPIX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MAGY vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Magnificent Seven Covered Call ETF (MAGY) 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.

	MAGY	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.75	-1.80
Sortino ratio: Return per unit of downside risk	0.04	2.43	-2.39
Omega ratio: Gain probability vs. loss probability	1.01	1.32	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.06	2.53	-2.59
Martin ratio: Return relative to average drawdown	-0.16	11.97	-12.13

MAGY vs. GPIX - Sharpe Ratio Comparison

The current MAGY Sharpe Ratio is -0.05, which is lower than the GPIX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of MAGY 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

MAGY vs. GPIX - Drawdown Comparison

The maximum MAGY drawdown since its inception was -14.29%, smaller than the maximum GPIX drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for MAGY and GPIX.

Drawdown Indicators

	MAGY	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-17.50%	+3.21%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-7.71%	-6.58%
Current Drawdown Current decline from peak	-8.86%	-0.57%	-8.29%
Average Drawdown Average peak-to-trough decline	-3.41%	-1.46%	-1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	1.63%	+3.90%

Volatility

MAGY vs. GPIX - Volatility Comparison

Roundhill Magnificent Seven Covered Call ETF (MAGY) has a higher volatility of 6.83% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 3.07%. This indicates that MAGY'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

	MAGY	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	3.07%	+3.76%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	8.97%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.87%	11.17%	+5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	13.76%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	13.76%	+2.42%

MAGY vs. GPIX - Expense Ratio Comparison

MAGY has a 0.99% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

MAGY vs. GPIX - Dividend Comparison

MAGY's dividend yield for the trailing twelve months is around 39.90%, more than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.46%	8.01%	7.45%	1.40%
MAGY Roundhill Magnificent Seven Covered Call ETF	38.99%	23.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGY and GPIX in my portfolio?

MAGY and GPIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGY or GPIX?

MAGY has higher volatility (6.83%) compared to GPIX (3.07%). In terms of maximum drawdown, MAGY dropped -14.29% vs GPIX's -17.50%.

Which ETF is better, MAGY or GPIX?

On 1-year performance, GPIX leads with 21.14% vs 1.42% for MAGY. On fees, GPIX is cheaper at 0.29% per year. On volatility, GPIX has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGY or GPIX?

Over the 1-year period, GPIX has performed better with a 21.14% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGY or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.99% for MAGY.

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

MAGY has the higher dividend yield at 38.99%, compared with 7.46% for GPIX.

What is the main difference between MAGY and GPIX?

They also come from different issuers: Roundhill and Goldman Sachs. Their fees differ too: 0.99% for MAGY and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.75 vs -0.05), 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.