MFDX vs. GPIQ

Last updated Jun 13, 2026

MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - MFDX is a Foreign Large Cap Equities fund tracking the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. MFDX is passively managed, while GPIQ is actively managed. Over the past year, MFDX returned 22.35% vs 33.15% for GPIQ. A 0.56 correlation means they provide meaningful diversification when combined. MFDX charges 0.39%/yr vs 0.29%/yr for GPIQ.

Performance

MFDX vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) 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, MFDX achieves a 10.49% return, which is significantly lower than GPIQ's 15.73% return.

MFDX

• 1D: 0.55%
• 1M: -0.50%
• YTD: 10.49%
• 6M: 12.25%
• 1Y: 22.35%
• 3Y*: 18.20%
• 5Y*: 10.06%
• 10Y*: —

GPIQ

• 1D: 0.71%
• 1M: 1.26%
• YTD: 15.73%
• 6M: 16.33%
• 1Y: 33.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MFDX vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	10.49%	34.27%	4.40%	13.79%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	15.73%	19.77%	23.22%	15.17%

Correlation

The correlation between MFDX and GPIQ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.56

The correlation between MFDX and GPIQ has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

MFDX vs. GPIQ - Sectors Allocation Comparison

Sectors	MFDX	GPIQ
Industrials	19.9%	2.9%
Financial Services	16.4%	0.2%
Basic Materials	10.8%	1.1%
Consumer Cyclical	8.6%	12.3%
Consumer Defensive	8.0%	7.7%
Technology	7.1%	53.8%
Communication Services	7.0%	15.8%
Energy	6.8%	0.6%
Utilities	6.4%	1.4%
Healthcare	6.0%	4.2%
Real Estate	3.0%	0.1%

Return for Risk

MFDX vs. GPIQ — Risk / Return Rank

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

MFDX

MFDX Risk / Return Rank: 52
MFDX Sharpe Ratio Rank: 53
MFDX Sortino Ratio Rank: 52
MFDX Omega Ratio Rank: 52
MFDX Calmar Ratio Rank: 48
MFDX Martin Ratio Rank: 54

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 83
GPIQ Sortino Ratio Rank: 78
GPIQ Omega Ratio Rank: 81
GPIQ Calmar Ratio Rank: 78
GPIQ Martin Ratio Rank: 84

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.

MFDX vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) 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.

	MFDX	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.29	-0.71
Sortino ratio: Return per unit of downside risk	2.23	3.00	-0.78
Omega ratio: Gain probability vs. loss probability	1.29	1.42	-0.13
Calmar ratio: Return relative to maximum drawdown	2.11	3.50	-1.39
Martin ratio: Return relative to average drawdown	8.26	14.86	-6.60

MFDX vs. GPIQ - Sharpe Ratio Comparison

The current MFDX Sharpe Ratio is 1.58, which is lower than the GPIQ Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of MFDX 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

MFDX vs. GPIQ - Drawdown Comparison

The maximum MFDX drawdown since its inception was -36.05%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for MFDX and GPIQ.

Drawdown Indicators

	MFDX	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-36.05%	-21.06%	-14.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-9.51%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.58%	—	—
Current Drawdown Current decline from peak	-1.16%	-2.35%	+1.19%
Average Drawdown Average peak-to-trough decline	-6.48%	-2.28%	-4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.24%	+0.48%

Volatility

MFDX vs. GPIQ - Volatility Comparison

The current volatility for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) is 5.15%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 6.42%. This indicates that MFDX 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

	MFDX	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	6.42%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	11.92%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.23%	14.53%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	17.72%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.44%	17.72%	-1.28%

MFDX vs. GPIQ - Expense Ratio Comparison

MFDX has a 0.39% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

MFDX vs. GPIQ - Dividend Comparison

MFDX's dividend yield for the trailing twelve months is around 2.77%, less than GPIQ's 9.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.53%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.77%	2.97%	3.16%	3.12%	2.85%	2.99%	1.58%	2.88%	2.13%	0.71%

Frequently Asked Questions

Can I hold both MFDX and GPIQ in my portfolio?

MFDX and GPIQ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFDX or GPIQ?

GPIQ has higher volatility (6.42%) compared to MFDX (5.15%). In terms of maximum drawdown, MFDX dropped -36.05% vs GPIQ's -21.06%.

Which ETF is better, MFDX or GPIQ?

On 1-year performance, GPIQ leads with 33.15% vs 22.35% for MFDX. On fees, GPIQ is cheaper at 0.29% per year. On volatility, MFDX has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFDX or GPIQ?

Over the 1-year period, GPIQ has performed better with a 33.15% return vs 22.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFDX or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.39% for MFDX.

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

GPIQ has the higher dividend yield at 9.53%, compared with 2.77% for MFDX.

What is the main difference between MFDX and GPIQ?

MFDX is categorized as Foreign Large Cap Equities, while GPIQ is Nasdaq-100. They also come from different issuers: PIMCO and Goldman Sachs. Their fees differ too: 0.39% for MFDX and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.29 vs 1.58), 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.