TLA vs. GPIX

Last updated Aug 1, 2026

TLA (GraniteShares Autocallable TSLA ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. Both are actively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TLA charges 1.07%/yr vs 0.29%/yr for GPIX.

Performance

TLA vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Autocallable TSLA ETF (TLA) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TLA

• 1D: 0.68%
• 1M: -7.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

GPIX

• 1D: 0.62%
• 1M: 0.49%
• 6M: 8.56%
• YTD: 10.23%
• 1Y: 19.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIX Goldman Sachs S&P 500 Premium Income ETF	$55.40M	$53.93M	$51.40M
TLA GraniteShares Autocallable TSLA ETF	$81.43K	$70.64K	$69.71K

TLA vs. GPIX - Yearly Performance Comparison

	2026 (YTD)
TLA GraniteShares Autocallable TSLA ETF	-2.43%
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.08%

Correlation

The correlation between TLA and GPIX is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.64

Return for Risk

TLA vs. GPIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TLA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GPIX

GPIX Risk / Return Rank: 78
GPIX Sharpe Ratio Rank: 77
GPIX Sortino Ratio Rank: 76
GPIX Omega Ratio Rank: 78
GPIX Calmar Ratio Rank: 73
GPIX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TLA vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable TSLA ETF (TLA) 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.

	TLA	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.75	—
Sortino ratio: Return per unit of downside risk	—	2.43	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.53	—
Martin ratio: Return relative to average drawdown	—	11.97	—

Drawdowns

TLA vs. GPIX - Drawdown Comparison

The maximum TLA drawdown since its inception was -11.80%, smaller than the maximum GPIX drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for TLA and GPIX.

Drawdown Indicators

	TLA	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.80%	-17.50%	+5.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.71%	—
Current Drawdown Current decline from peak	-8.79%	-0.57%	-8.22%
Average Drawdown Average peak-to-trough decline	-1.78%	-1.46%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.63%	—

Volatility

Volatility by Period

	TLA	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.63%	11.17%	+5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	13.76%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	13.76%	+2.87%

TLA vs. GPIX - Expense Ratio Comparison

TLA has a 1.07% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

TLA vs. GPIX - Dividend Comparison

TLA's dividend yield for the trailing twelve months is around 8.86%, more than GPIX's 8.11% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.46%	8.01%	7.45%	1.40%
TLA GraniteShares Autocallable TSLA ETF	8.86%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLA and GPIX in my portfolio?

TLA and GPIX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLA or GPIX?

On fees, GPIX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLA or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 1.07% for TLA.

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

TLA has the higher dividend yield at 8.86%, compared with 8.11% for GPIX.

What is the main difference between TLA and GPIX?

They also come from different issuers: GraniteShares and Goldman Sachs. Their fees differ too: 1.07% for TLA and 0.29% for GPIX.