QUAL vs. GPIQ

Last updated Jun 9, 2026

QUAL (iShares MSCI USA Quality Factor ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - QUAL is a Large Cap Blend Equities fund tracking the MSCI USA Sector Neutral Quality Index, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. QUAL is passively managed, while GPIQ is actively managed. Over the past year, QUAL returned 19.70% vs 33.04% for GPIQ. Their correlation of 0.88 suggests significant overlap in exposure. QUAL charges 0.15%/yr vs 0.29%/yr for GPIQ.

Performance

QUAL vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Quality Factor ETF (QUAL) 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, QUAL achieves a 7.89% return, which is significantly lower than GPIQ's 14.88% return.

QUAL

• 1D: 0.32%
• 1M: 1.62%
• YTD: 7.89%
• 6M: 8.26%
• 1Y: 19.70%
• 3Y*: 19.43%
• 5Y*: 11.82%
• 10Y*: 14.19%

GPIQ

• 1D: 1.46%
• 1M: 0.97%
• YTD: 14.88%
• 6M: 14.06%
• 1Y: 33.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QUAL vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QUAL iShares MSCI USA Quality Factor ETF	7.89%	12.65%	22.29%	13.37%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	14.88%	19.77%	23.22%	15.17%

Correlation

The correlation between QUAL and GPIQ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.88

The correlation between QUAL and GPIQ has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

QUAL vs. GPIQ - Sectors Allocation Comparison

Sectors	QUAL	GPIQ
Technology	36.5%	53.8%
Financial Services	11.5%	0.2%
Communication Services	11.1%	15.8%
Consumer Cyclical	9.3%	12.3%
Healthcare	9.0%	4.2%
Industrials	8.2%	2.9%
Consumer Defensive	4.9%	7.7%
Energy	4.0%	0.6%
Utilities	1.9%	1.4%
Real Estate	1.8%	0.1%
Basic Materials	1.7%	1.1%

Return for Risk

QUAL vs. GPIQ — Risk / Return Rank

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

QUAL

QUAL Risk / Return Rank: 54
QUAL Sharpe Ratio Rank: 53
QUAL Sortino Ratio Rank: 53
QUAL Omega Ratio Rank: 52
QUAL Calmar Ratio Rank: 49
QUAL Martin Ratio Rank: 61

GPIQ

GPIQ Risk / Return Rank: 79
GPIQ Sharpe Ratio Rank: 81
GPIQ Sortino Ratio Rank: 76
GPIQ Omega Ratio Rank: 80
GPIQ Calmar Ratio Rank: 75
GPIQ Martin Ratio Rank: 83

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.

QUAL vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Quality Factor ETF (QUAL) 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.

	QUAL	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.36	-0.71
Sortino ratio: Return per unit of downside risk	2.34	3.06	-0.72
Omega ratio: Gain probability vs. loss probability	1.29	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	2.19	3.49	-1.30
Martin ratio: Return relative to average drawdown	9.96	15.21	-5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QUAL vs. GPIQ - Sharpe Ratio Comparison

The current QUAL Sharpe Ratio is 1.65, which is lower than the GPIQ Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of QUAL 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

	QUAL	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.36	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	1.67	-0.88

Drawdowns

QUAL vs. GPIQ - Drawdown Comparison

The maximum QUAL drawdown since its inception was -34.06%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for QUAL and GPIQ.

Drawdown Indicators

	QUAL	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-34.06%	-21.06%	-13.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.03%	-9.51%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.06%	—	—
Current Drawdown Current decline from peak	-1.61%	-3.08%	+1.47%
Average Drawdown Average peak-to-trough decline	-4.10%	-2.27%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.18%	-0.20%

Volatility

QUAL vs. GPIQ - Volatility Comparison

The current volatility for iShares MSCI USA Quality Factor ETF (QUAL) is 3.12%, while Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) has a volatility of 5.54%. This indicates that QUAL 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

	QUAL	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	5.54%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	11.32%	-2.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.01%	14.07%	-2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	17.63%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	17.63%	+0.48%

QUAL vs. GPIQ - Expense Ratio Comparison

QUAL has a 0.15% expense ratio, which is lower than GPIQ's 0.29% expense ratio.

Dividends

QUAL vs. GPIQ - Dividend Comparison

QUAL's dividend yield for the trailing twelve months is around 0.88%, less than GPIQ's 9.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.60%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QUAL iShares MSCI USA Quality Factor ETF	0.88%	0.94%	1.02%	1.23%	1.59%	1.20%	1.39%	1.60%	2.00%	1.76%	1.96%	1.63%

Frequently Asked Questions

Can I hold both QUAL and GPIQ in my portfolio?

QUAL and GPIQ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUAL or GPIQ?

GPIQ has higher volatility (5.54%) compared to QUAL (3.12%). In terms of maximum drawdown, QUAL dropped -34.06% vs GPIQ's -21.06%.

Which ETF is better, QUAL or GPIQ?

On 1-year performance, GPIQ leads with 33.04% vs 19.70% for QUAL. On fees, QUAL is cheaper at 0.15% per year. On volatility, QUAL has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QUAL or GPIQ?

Over the 1-year period, GPIQ has performed better with a 33.04% return vs 19.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUAL or GPIQ?

QUAL is cheaper with a 0.15% expense ratio, compared with 0.29% for GPIQ.

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

GPIQ has the higher dividend yield at 9.60%, compared with 0.88% for QUAL.

What is the main difference between QUAL and GPIQ?

QUAL is categorized as Large Cap Blend Equities, while GPIQ is Nasdaq-100. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.15% for QUAL and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (2.36 vs 1.65), 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.