XME vs. GPIQ

Last updated Jun 13, 2026

XME (SPDR S&P Metals & Mining ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. XME is passively managed, while GPIQ is actively managed. Over the past year, XME returned 86.41% vs 33.15% for GPIQ. At a 0.50 correlation, their price movements are largely independent. XME charges 0.35%/yr vs 0.29%/yr for GPIQ.

Performance

XME vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Metals & Mining ETF (XME) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XME having a 16.32% return and GPIQ slightly lower at 15.73%.

XME

• 1D: 1.77%
• 1M: -2.35%
• YTD: 16.32%
• 6M: 18.13%
• 1Y: 86.41%
• 3Y*: 35.23%
• 5Y*: 21.78%
• 10Y*: 19.60%

GPIQ

• 1D: 0.71%
• 1M: 1.26%
• YTD: 15.73%
• 6M: 16.33%
• 1Y: 33.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XME vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XME SPDR S&P Metals & Mining ETF	16.32%	83.47%	-4.54%	22.46%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	15.73%	19.77%	23.22%	15.17%

Correlation

The correlation between XME and GPIQ is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.50

The correlation between XME and GPIQ has been stable across timeframes, ranging from 0.50 to 0.54 - a consistent structural relationship.

XME vs. GPIQ - Sectors Allocation Comparison

Sectors	XME	GPIQ
Basic Materials	75.3%	1.1%
Energy	23.4%	0.6%
Technology	2.2%	53.8%
Consumer Defensive	0.8%	7.7%
Industrials	0.4%	2.9%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Financial Services	-	0.2%
Healthcare	-	4.2%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

XME vs. GPIQ — Risk / Return Rank

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

XME

XME Risk / Return Rank: 75
XME Sharpe Ratio Rank: 86
XME Sortino Ratio Rank: 74
XME Omega Ratio Rank: 73
XME Calmar Ratio Rank: 82
XME Martin Ratio Rank: 61

GPIQ

GPIQ Risk / Return Rank: 81
GPIQ Sharpe Ratio Rank: 83
GPIQ Sortino Ratio Rank: 78
GPIQ Omega Ratio Rank: 81
GPIQ Calmar Ratio Rank: 78
GPIQ Martin Ratio Rank: 84

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.

XME vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) 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.

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.

	XME	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.29	+0.11
Sortino ratio: Return per unit of downside risk	2.86	3.00	-0.14
Omega ratio: Gain probability vs. loss probability	1.37	1.42	-0.05
Calmar ratio: Return relative to maximum drawdown	3.84	3.50	+0.34
Martin ratio: Return relative to average drawdown	9.58	14.86	-5.28

XME vs. GPIQ - Sharpe Ratio Comparison

The current XME Sharpe Ratio is 2.41, which is comparable to the GPIQ Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of XME 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.

Drawdowns

XME vs. GPIQ - Drawdown Comparison

The maximum XME drawdown since its inception was -85.89%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for XME and GPIQ.

Drawdown Indicators

	XME	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-21.06%	-64.83%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-9.51%	-13.09%
Max Drawdown (3Y) Largest decline over 3 years	-30.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.69%	—	—
Current Drawdown Current decline from peak	-9.33%	-2.35%	-6.98%
Average Drawdown Average peak-to-trough decline	-44.09%	-2.28%	-41.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.05%	2.24%	+6.81%

Volatility

XME vs. GPIQ - Volatility Comparison

SPDR S&P Metals & Mining ETF (XME) has a higher volatility of 15.26% compared to Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) at 6.42%. This indicates that XME's price experiences larger fluctuations and is considered to be riskier than GPIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XME	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.26%	6.42%	+8.84%
Volatility (6M) Calculated over the trailing 6-month period	28.51%	11.92%	+16.59%
Volatility (1Y) Calculated over the trailing 1-year period	36.11%	14.53%	+21.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.84%	17.72%	+15.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.96%	17.72%	+15.24%

XME vs. GPIQ - Expense Ratio Comparison

XME has a 0.35% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

XME vs. GPIQ - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.32%, less than GPIQ's 9.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.53%	9.81%	9.18%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.32%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both XME and GPIQ in my portfolio?

XME and GPIQ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XME or GPIQ?

XME has higher volatility (15.26%) compared to GPIQ (6.42%). In terms of maximum drawdown, XME dropped -85.89% vs GPIQ's -21.06%.

Which ETF is better, XME or GPIQ?

On 1-year performance, XME leads with 86.41% vs 33.15% for GPIQ. On fees, GPIQ is cheaper at 0.29% per year. On volatility, GPIQ has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XME or GPIQ?

Over the 1-year period, XME has performed better with a 86.41% return vs 33.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XME or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.35% for XME.

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

GPIQ has the higher dividend yield at 9.53%, compared with 0.32% for XME.

What is the main difference between XME and GPIQ?

XME is categorized as Materials, while GPIQ is Nasdaq-100. They also come from different issuers: State Street and Goldman Sachs. Their fees differ too: 0.35% for XME and 0.29% for GPIQ.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (2.41 vs 2.29), 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.