RYLD vs. GPIX

Last updated Jul 14, 2026

RYLD (Global X Russell 2000 Covered Call ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. RYLD is passively managed, while GPIX is actively managed. Over the past year, RYLD returned 20.13% vs 20.86% for GPIX. A 0.74 correlation means they provide meaningful diversification when combined. RYLD charges 0.60%/yr vs 0.29%/yr for GPIX.

Performance

RYLD vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 Covered Call ETF (RYLD) 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, RYLD achieves a 11.10% return, which is significantly higher than GPIX's 10.17% return.

RYLD

• 1D: -0.37%
• 1M: 2.04%
• 6M: 8.20%
• YTD: 11.10%
• 1Y: 20.13%
• 3Y*: 7.88%
• 5Y*: 3.12%
• 10Y*: —

GPIX

• 1D: -0.63%
• 1M: 1.41%
• 6M: 8.40%
• YTD: 10.17%
• 1Y: 20.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RYLD vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RYLD Global X Russell 2000 Covered Call ETF	11.10%	5.65%	10.13%	7.00%
GPIX Goldman Sachs S&P 500 Premium Income ETF	10.17%	16.25%	21.77%	13.04%

Correlation

The correlation between RYLD and GPIX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.74

The correlation between RYLD and GPIX has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

RYLD vs. GPIX - Sectors Allocation Comparison

Sectors	RYLD	GPIX
Technology	19.0%	39.2%
Industrials	18.0%	7.7%
Healthcare	16.3%	8.3%
Financial Services	15.5%	10.9%
Consumer Cyclical	8.0%	10.1%
Real Estate	5.9%	1.8%
Energy	5.4%	3.2%
Basic Materials	4.7%	1.7%
Utilities	2.8%	2.2%
Communication Services	2.4%	10.7%
Consumer Defensive	2.3%	4.4%

Return for Risk

RYLD vs. GPIX — Risk / Return Rank

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

RYLD

RYLD Risk / Return Rank: 79
RYLD Sharpe Ratio Rank: 75
RYLD Sortino Ratio Rank: 75
RYLD Omega Ratio Rank: 84
RYLD Calmar Ratio Rank: 78
RYLD Martin Ratio Rank: 83

GPIX

GPIX Risk / Return Rank: 76
GPIX Sharpe Ratio Rank: 76
GPIX Sortino Ratio Rank: 75
GPIX Omega Ratio Rank: 78
GPIX Calmar Ratio Rank: 68
GPIX 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.

RYLD vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) 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.

	RYLD	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.93	-0.03
Sortino ratio: Return per unit of downside risk	2.69	2.67	+0.02
Omega ratio: Gain probability vs. loss probability	1.39	1.36	+0.03
Calmar ratio: Return relative to maximum drawdown	3.21	2.72	+0.50
Martin ratio: Return relative to average drawdown	12.98	13.02	-0.04

RYLD vs. GPIX - Sharpe Ratio Comparison

The current RYLD Sharpe Ratio is 1.90, which is comparable to the GPIX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of RYLD 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.

Drawdowns

RYLD vs. GPIX - Drawdown Comparison

The maximum RYLD drawdown since its inception was -41.53%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for RYLD and GPIX.

Drawdown Indicators

	RYLD	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.53%	-17.50%	-24.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-7.71%	+1.42%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.33%	—	—
Current Drawdown Current decline from peak	-0.37%	-0.63%	+0.26%
Average Drawdown Average peak-to-trough decline	-8.72%	-1.47%	-7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.61%	-0.05%

Volatility

RYLD vs. GPIX - Volatility Comparison

The current volatility for Global X Russell 2000 Covered Call ETF (RYLD) is 1.76%, while Goldman Sachs S&P 500 Premium Income ETF (GPIX) has a volatility of 3.62%. This indicates that RYLD experiences smaller price fluctuations and is considered to be less risky than GPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYLD	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	3.62%	-1.86%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	8.85%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	10.90%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	13.80%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	13.80%	+3.29%

RYLD vs. GPIX - Expense Ratio Comparison

RYLD has a 0.60% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

RYLD vs. GPIX - Dividend Comparison

RYLD's dividend yield for the trailing twelve months is around 11.56%, more than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.11%	8.01%	7.45%	1.40%	0.00%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.56%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both RYLD and GPIX in my portfolio?

RYLD and GPIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYLD or GPIX?

GPIX has higher volatility (3.62%) compared to RYLD (1.76%). In terms of maximum drawdown, RYLD dropped -41.53% vs GPIX's -17.50%.

Which ETF is better, RYLD or GPIX?

On 1-year performance, GPIX leads with 20.86% vs 20.13% for RYLD. On fees, GPIX is cheaper at 0.29% per year. On volatility, RYLD has been the lower-risk option at 1.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RYLD or GPIX?

Over the 1-year period, GPIX has performed better with a 20.86% return vs 20.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RYLD or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.60% for RYLD.

Which ETF pays a higher dividend yield, RYLD or GPIX?

RYLD has the higher dividend yield at 11.56%, compared with 8.11% for GPIX.

What is the main difference between RYLD and GPIX?

They also come from different issuers: Global X and Goldman Sachs. Their fees differ too: 0.60% for RYLD and 0.29% for GPIX.

Which has better risk-adjusted returns?

GPIX currently has the higher Sharpe Ratio (1.93 vs 1.90), 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.