PSK vs. GPIQ

Last updated Jun 3, 2026

PSK (SPDR ICE Preferred Securities ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - PSK is a Preferred Stock/Convertible Bonds fund tracking the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. PSK is passively managed, while GPIQ is actively managed. Over the past year, PSK returned 4.79% vs 38.62% for GPIQ. At a 0.35 correlation, their price movements are largely independent. PSK charges 0.45%/yr vs 0.29%/yr for GPIQ.

Performance

PSK vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR ICE Preferred Securities ETF (PSK) 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, PSK achieves a -0.09% return, which is significantly lower than GPIQ's 18.52% return.

PSK

• 1D: -0.19%
• 1M: -1.29%
• YTD: -0.09%
• 6M: -0.18%
• 1Y: 4.79%
• 3Y*: 3.19%
• 5Y*: -0.80%
• 10Y*: 2.12%

GPIQ

• 1D: 0.39%
• 1M: 8.59%
• YTD: 18.52%
• 6M: 18.10%
• 1Y: 38.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSK vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PSK SPDR ICE Preferred Securities ETF	-0.09%	2.69%	4.81%	11.42%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	18.52%	19.77%	23.22%	15.38%

Correlation

The correlation between PSK and GPIQ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023	0.35

The correlation between PSK and GPIQ shifts across timeframes, from 0.35 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.

PSK vs. GPIQ - Sectors Allocation Comparison

Sectors	PSK	GPIQ
Financial Services	66.9%	0.2%
Utilities	9.5%	1.4%
Real Estate	4.8%	0.1%
Consumer Cyclical	1.8%	12.3%
Communication Services	1.6%	15.8%
Industrials	0.8%	2.9%
Basic Materials	-	1.1%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Technology	-	53.8%

Return for Risk

PSK vs. GPIQ — Risk / Return Rank

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

PSK

PSK Risk / Return Rank: 21
PSK Sharpe Ratio Rank: 23
PSK Sortino Ratio Rank: 22
PSK Omega Ratio Rank: 21
PSK Calmar Ratio Rank: 20
PSK Martin Ratio Rank: 17

GPIQ

GPIQ Risk / Return Rank: 84
GPIQ Sharpe Ratio Rank: 86
GPIQ Sortino Ratio Rank: 84
GPIQ Omega Ratio Rank: 84
GPIQ Calmar Ratio Rank: 80
GPIQ Martin Ratio Rank: 86

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.

PSK vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) 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.

	PSK	GPIQ	Difference
Sharpe ratio Return per unit of total volatility	0.80	2.90	-2.10
Sortino ratio Return per unit of downside risk	1.19	3.81	-2.62
Omega ratio Gain probability vs. loss probability	1.14	1.52	-0.38
Calmar ratio Return relative to maximum drawdown	0.86	4.15	-3.29
Martin ratio Return relative to average drawdown	1.91	18.37	-16.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSK vs. GPIQ - Sharpe Ratio Comparison

The current PSK Sharpe Ratio is 0.80, which is lower than the GPIQ Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of PSK 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.

Sharpe Ratios by Period

	PSK	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	2.90	-2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	1.79	-1.35

Drawdowns

PSK vs. GPIQ - Drawdown Comparison

The maximum PSK drawdown since its inception was -30.10%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for PSK and GPIQ.

Drawdown Indicators

	PSK	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-30.10%	-21.06%	-9.04%
Max Drawdown (1Y) Largest decline over 1 year	-5.50%	-9.51%	+4.01%
Max Drawdown (3Y) Largest decline over 3 years	-10.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.10%	—	—
Current Drawdown Current decline from peak	-5.51%	0.00%	-5.51%
Average Drawdown Average peak-to-trough decline	-3.98%	-2.27%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.15%	+0.33%

Volatility

PSK vs. GPIQ - Volatility Comparison

The current volatility for SPDR ICE Preferred Securities ETF (PSK) is 1.68%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 3.38%. This indicates that PSK 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

	PSK	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	3.38%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	4.18%	10.45%	-6.27%
Volatility (1Y) Calculated over the trailing 1-year period	6.04%	13.40%	-7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.72%	17.48%	-6.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.91%	17.48%	-5.57%

PSK vs. GPIQ - Expense Ratio Comparison

PSK has a 0.45% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

PSK vs. GPIQ - Dividend Comparison

PSK's dividend yield for the trailing twelve months is around 7.02%, less than GPIQ's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.31%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSK SPDR ICE Preferred Securities ETF	7.02%	6.82%	6.55%	6.44%	6.55%	5.03%	5.08%	5.44%	6.47%	6.91%	5.92%	5.35%

Frequently Asked Questions

Can I hold both PSK and GPIQ in my portfolio?

PSK and GPIQ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSK or GPIQ?

GPIQ has higher volatility (3.38%) compared to PSK (1.68%). In terms of maximum drawdown, PSK dropped -30.10% vs GPIQ's -21.06%.

Which ETF is better, PSK or GPIQ?

On 1-year performance, GPIQ leads with 38.62% vs 4.79% for PSK. On fees, GPIQ is cheaper at 0.29% per year. On volatility, PSK has been the lower-risk option at 1.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSK or GPIQ?

Over the 1-year period, GPIQ has performed better with a 38.62% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSK or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.45% for PSK.

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

GPIQ has the higher dividend yield at 9.31%, compared with 7.02% for PSK.

What is the main difference between PSK and GPIQ?

PSK is categorized as Preferred Stock/Convertible Bonds, while GPIQ is Nasdaq-100. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.45% for PSK and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.90 vs 0.80), 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.