NPFI vs. GSST

Last updated Jun 4, 2026

NPFI (Nuveen Preferred And Income ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) are both exchange-traded funds - NPFI is a Preferred Stock/Convertible Bonds fund actively managed by Nuveen, while GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, NPFI returned 7.90% vs 4.61% for GSST. At a 0.20 correlation, their price movements are largely independent. NPFI charges 0.55%/yr vs 0.16%/yr for GSST.

Performance

NPFI vs. GSST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Preferred And Income ETF (NPFI) and Goldman Sachs Ultra Short Bond ETF (GSST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NPFI having a 1.62% return and GSST slightly lower at 1.55%.

NPFI

• 1D: -0.11%
• 1M: 0.76%
• YTD: 1.62%
• 6M: 2.06%
• 1Y: 7.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSST

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.61%
• 3Y*: 5.52%
• 5Y*: 3.75%
• 10Y*: —

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

NPFI vs. GSST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NPFI Nuveen Preferred And Income ETF	1.62%	9.21%	6.56%
GSST Goldman Sachs Ultra Short Bond ETF	1.55%	5.20%	4.89%

Correlation

The correlation between NPFI and GSST is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.21

Return for Risk

NPFI vs. GSST — Risk / Return Rank

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

NPFI

NPFI Risk / Return Rank: 76
NPFI Sharpe Ratio Rank: 83
NPFI Sortino Ratio Rank: 89
NPFI Omega Ratio Rank: 92
NPFI Calmar Ratio Rank: 50
NPFI Martin Ratio Rank: 65

GSST

GSST Risk / Return Rank: 99
GSST Sharpe Ratio Rank: 99
GSST Sortino Ratio Rank: 99
GSST Omega Ratio Rank: 99
GSST Calmar Ratio Rank: 99
GSST Martin Ratio Rank: 99

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.

NPFI vs. GSST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and Goldman Sachs Ultra Short Bond ETF (GSST). 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.

	NPFI	GSST	Difference
Sharpe ratio: Return per unit of total volatility	2.72	7.98	-5.25
Sortino ratio: Return per unit of downside risk	4.18	16.58	-12.40
Omega ratio: Gain probability vs. loss probability	1.64	3.94	-2.30
Calmar ratio: Return relative to maximum drawdown	2.49	29.99	-27.49
Martin ratio: Return relative to average drawdown	12.02	185.54	-173.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NPFI vs. GSST - Sharpe Ratio Comparison

The current NPFI Sharpe Ratio is 2.72, which is lower than the GSST Sharpe Ratio of 7.98. The chart below compares the historical Sharpe Ratios of NPFI and GSST, 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

	NPFI	GSST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	7.98	-5.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	5.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	3.78	-1.14

Drawdowns

NPFI vs. GSST - Drawdown Comparison

The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum GSST drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for NPFI and GSST.

Drawdown Indicators

	NPFI	GSST	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-3.51%	+0.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-0.15%	-3.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.19%	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.16%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.02%	+0.64%

Volatility

NPFI vs. GSST - Volatility Comparison

Nuveen Preferred And Income ETF (NPFI) has a higher volatility of 0.83% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.13%. This indicates that NPFI's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPFI	GSST	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	0.13%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	0.41%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	0.58%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	0.63%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.95%	0.86%	+2.09%

NPFI vs. GSST - Expense Ratio Comparison

NPFI has a 0.55% expense ratio, which is higher than GSST's 0.16% expense ratio.

Dividends

NPFI vs. GSST - Dividend Comparison

NPFI's dividend yield for the trailing twelve months is around 6.41%, more than GSST's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GSST Goldman Sachs Ultra Short Bond ETF	4.32%	4.56%	5.45%	4.98%	1.97%	0.71%	1.12%	1.66%
NPFI Nuveen Preferred And Income ETF	6.41%	6.33%	5.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NPFI and GSST in my portfolio?

NPFI and GSST have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NPFI or GSST?

NPFI has higher volatility (0.83%) compared to GSST (0.13%). In terms of maximum drawdown, NPFI dropped -3.18% vs GSST's -3.51%.

Which ETF is better, NPFI or GSST?

On 1-year performance, NPFI leads with 7.90% vs 4.61% for GSST. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NPFI or GSST?

Over the 1-year period, NPFI has performed better with a 7.90% return vs 4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NPFI or GSST?

GSST is cheaper with a 0.16% expense ratio, compared with 0.55% for NPFI.

Which ETF pays a higher dividend yield, NPFI or GSST?

NPFI has the higher dividend yield at 6.41%, compared with 4.32% for GSST.

What is the main difference between NPFI and GSST?

NPFI is categorized as Preferred Stock/Convertible Bonds, while GSST is Ultrashort Bond. They also come from different issuers: Nuveen and Goldman Sachs. Their fees differ too: 0.55% for NPFI and 0.16% for GSST.

Which has better risk-adjusted returns?

GSST currently has the higher Sharpe Ratio (7.98 vs 2.72), 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.