NNN vs. GPIX

Last updated Jun 4, 2026

NNN (National Retail Properties, Inc.) is a stock, while GPIX (Goldman Sachs S&P 500 Premium Income ETF) is Derivative Income fund actively managed by Goldman Sachs. Over the past year, NNN returned 12.62% vs 25.55% for GPIX. At a 0.15 correlation, their price movements are largely independent.

Performance

NNN vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in National Retail Properties, Inc. (NNN) 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, NNN achieves a 14.71% return, which is significantly higher than GPIX's 9.91% return.

NNN

• 1D: 0.84%
• 1M: 0.30%
• YTD: 14.71%
• 6M: 10.58%
• 1Y: 12.62%
• 3Y*: 6.64%
• 5Y*: 3.52%
• 10Y*: 4.44%

GPIX

• 1D: -0.48%
• 1M: 4.27%
• YTD: 9.91%
• 6M: 10.34%
• 1Y: 25.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NNN vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NNN National Retail Properties, Inc.	14.71%	2.81%	-0.06%	22.80%
GPIX Goldman Sachs S&P 500 Premium Income ETF	9.91%	16.25%	21.77%	13.45%

Correlation

The correlation between NNN and GPIX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.15

The correlation between NNN and GPIX shifts across timeframes, from 0.03 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NNN vs. GPIX — Risk / Return Rank

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

NNN

NNN Risk / Return Rank: 62
NNN Sharpe Ratio Rank: 65
NNN Sortino Ratio Rank: 57
NNN Omega Ratio Rank: 55
NNN Calmar Ratio Rank: 67
NNN Martin Ratio Rank: 67

GPIX

GPIX Risk / Return Rank: 75
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 79
GPIX Calmar Ratio Rank: 66
GPIX Martin Ratio Rank: 82

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.

NNN vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for National Retail Properties, Inc. (NNN) 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.

	NNN	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	2.52	-1.75
Sortino ratio: Return per unit of downside risk	1.17	3.48	-2.31
Omega ratio: Gain probability vs. loss probability	1.14	1.48	-0.34
Calmar ratio: Return relative to maximum drawdown	1.44	3.33	-1.90
Martin ratio: Return relative to average drawdown	3.31	16.77	-13.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NNN vs. GPIX - Sharpe Ratio Comparison

The current NNN Sharpe Ratio is 0.78, which is lower than the GPIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of NNN 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

	NNN	GPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	2.52	-1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.78	-1.38

Drawdowns

NNN vs. GPIX - Drawdown Comparison

The maximum NNN drawdown since its inception was -56.17%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for NNN and GPIX.

Drawdown Indicators

	NNN	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.17%	-17.50%	-38.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.83%	-7.71%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-22.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-54.99%	—	—
Current Drawdown Current decline from peak	-2.45%	-0.48%	-1.97%
Average Drawdown Average peak-to-trough decline	-9.82%	-1.48%	-8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	1.53%	+2.29%

Volatility

NNN vs. GPIX - Volatility Comparison

National Retail Properties, Inc. (NNN) has a higher volatility of 4.61% compared to Goldman Sachs S&P 500 Premium Income ETF (GPIX) at 2.26%. This indicates that NNN'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

	NNN	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	2.26%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	7.89%	+3.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	10.17%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	13.80%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.08%	13.80%	+14.28%

Dividends

NNN vs. GPIX - Dividend Comparison

NNN's dividend yield for the trailing twelve months is around 5.43%, less than GPIX's 8.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.00%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NNN National Retail Properties, Inc.	5.43%	5.96%	5.61%	5.17%	4.72%	4.37%	5.06%	3.79%	4.02%	4.31%	4.03%	4.27%

Frequently Asked Questions

Can I hold both NNN and GPIX in my portfolio?

NNN and GPIX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NNN or GPIX?

NNN has higher volatility (4.61%) compared to GPIX (2.26%). In terms of maximum drawdown, NNN dropped -56.17% vs GPIX's -17.50%.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (2.52 vs 0.78), 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.