MSR vs. GPIX
MSR (GraniteShares Autocallable MSTR ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. MSR charges 1.07%/yr vs 0.29%/yr for GPIX.
Performance
MSR vs. GPIX - Performance Comparison
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Returns By Period
MSR
- 1D
- 3.32%
- 1M
- -15.44%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GPIX
- 1D
- -0.11%
- 1M
- -0.25%
- 6M
- 8.00%
- YTD
- 9.42%
- 1Y
- 19.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.75%
MSR vs. GPIX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MSR GraniteShares Autocallable MSTR ETF | -39.20% |
GPIX Goldman Sachs S&P 500 Premium Income ETF | 1.39% |
Correlation
The correlation between MSR and GPIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 12, 2026 | 0.48 |
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Return for Risk
MSR vs. GPIX — Risk / Return Rank
MSR
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GPIX
MSR vs. GPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable MSTR ETF (MSR) 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.
| MSR | GPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.52 | — |
| Martin ratioReturn relative to average drawdown | — | 12.02 | — |
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Drawdowns
MSR vs. GPIX - Drawdown Comparison
The maximum MSR drawdown since its inception was -50.94%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for MSR and GPIX.
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Drawdown Indicators
| MSR | GPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.94% | -17.50% | -33.44% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.71% | — |
Current DrawdownCurrent decline from peak | -41.12% | -1.31% | -39.81% |
Average DrawdownAverage peak-to-trough decline | -26.61% | -1.47% | -25.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.61% | — |
Volatility
MSR vs. GPIX - Volatility Comparison
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Volatility by Period
| MSR | GPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.89% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 75.10% | 10.93% | +64.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.10% | 13.77% | +61.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 75.10% | 13.77% | +61.33% |
MSR vs. GPIX - Expense Ratio Comparison
MSR has a 1.07% expense ratio, which is higher than GPIX's 0.29% expense ratio.
Dividends
MSR vs. GPIX - Dividend Comparison
MSR's dividend yield for the trailing twelve months is around 5.05%, less than GPIX's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 8.17% | 8.01% | 7.45% | 1.40% |
MSR GraniteShares Autocallable MSTR ETF | 5.05% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSR and GPIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GPIX is cheaper with a 0.29% expense ratio, compared with 1.07% for MSR.
GPIX has the higher dividend yield at 8.17%, compared with 5.05% for MSR.
They also come from different issuers: GraniteShares and Goldman Sachs. Their fees differ too: 1.07% for MSR and 0.29% for GPIX.
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