SPHD vs. GPIX
SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both exchange-traded funds - SPHD is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Index, while GPIX is a Derivative Income fund actively managed by Goldman Sachs. SPHD is passively managed, while GPIX is actively managed. Over the past year, SPHD returned 12.70% vs 25.72% for GPIX. At a 0.33 correlation, their price movements are largely independent. SPHD charges 0.30%/yr vs 0.29%/yr for GPIX.
Performance
SPHD vs. GPIX - Performance Comparison
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Returns By Period
In the year-to-date period, SPHD achieves a 8.51% return, which is significantly lower than GPIX's 10.28% return.
SPHD
- 1D
- -1.12%
- 1M
- 4.38%
- YTD
- 8.51%
- 6M
- 7.65%
- 1Y
- 12.70%
- 3Y*
- 11.55%
- 5Y*
- 6.57%
- 10Y*
- 7.41%
GPIX
- 1D
- 1.51%
- 1M
- 2.08%
- YTD
- 10.28%
- 6M
- 10.95%
- 1Y
- 25.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPHD vs. GPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 8.51% | 3.41% | 18.08% | 12.73% |
GPIX Goldman Sachs S&P 500 Premium Income ETF | 10.28% | 16.25% | 21.77% | 13.04% |
Correlation
The correlation between SPHD and GPIX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023 | 0.33 |
The correlation between SPHD and GPIX shifts across timeframes, from 0.21 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPHD vs. GPIX — Risk / Return Rank
SPHD
GPIX
SPHD vs. GPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) 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.
| SPHD | GPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.46 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.35 | -1.61 |
| Martin ratioReturn relative to average drawdown | 4.31 | 16.40 | -12.10 |
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Drawdowns
SPHD vs. GPIX - Drawdown Comparison
The maximum SPHD drawdown since its inception was -41.39%, which is greater than GPIX's maximum drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for SPHD and GPIX.
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Drawdown Indicators
| SPHD | GPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.39% | -17.50% | -23.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -7.71% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.39% | — | — |
Current DrawdownCurrent decline from peak | -1.63% | -0.14% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -1.48% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 1.57% | +1.39% |
Volatility
SPHD vs. GPIX - Volatility Comparison
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) and Goldman Sachs S&P 500 Premium Income ETF (GPIX) have volatilities of 3.91% and 4.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPHD | GPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 4.00% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 8.63% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.27% | 10.69% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 13.88% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 13.88% | +3.78% |
SPHD vs. GPIX - Expense Ratio Comparison
SPHD has a 0.30% expense ratio, which is higher than GPIX's 0.29% expense ratio.
Dividends
SPHD vs. GPIX - Dividend Comparison
SPHD's dividend yield for the trailing twelve months is around 4.45%, less than GPIX's 7.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GPIX Goldman Sachs S&P 500 Premium Income ETF | 7.97% | 8.01% | 7.45% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.45% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Frequently Asked Questions
SPHD and GPIX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GPIX has higher volatility (4.00%) compared to SPHD (3.91%). In terms of maximum drawdown, SPHD dropped -41.39% vs GPIX's -17.50%.
On 1-year performance, GPIX leads with 25.72% vs 12.70% for SPHD. On fees, GPIX is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GPIX has performed better with a 25.72% return vs 12.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GPIX is cheaper with a 0.29% expense ratio, compared with 0.30% for SPHD.
GPIX has the higher dividend yield at 7.97%, compared with 4.45% for SPHD.
SPHD is categorized as Dividend, while GPIX is Derivative Income. They also come from different issuers: Invesco and Goldman Sachs. Their fees differ too: 0.30% for SPHD and 0.29% for GPIX.
GPIX currently has the higher Sharpe Ratio (2.42 vs 1.13), 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.
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