YMAG.L vs. GPIQ

Last updated Jun 5, 2026

YMAG.L (YieldMax Big Tech Option Income UCITS ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - YMAG.L is a Derivative Income fund actively managed by YieldMax, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, YMAG.L returned 13.89% vs 36.75% for GPIQ. A 0.58 correlation means they provide meaningful diversification when combined. YMAG.L charges 0.99%/yr vs 0.29%/yr for GPIQ.

Performance

YMAG.L vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Big Tech Option Income UCITS ETF (YMAG.L) 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, YMAG.L achieves a 5.78% return, which is significantly lower than GPIQ's 17.91% return.

YMAG.L

• 1D: -1.10%
• 1M: 5.50%
• YTD: 5.78%
• 6M: 3.41%
• 1Y: 13.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GPIQ

• 1D: -0.34%
• 1M: 7.05%
• YTD: 17.91%
• 6M: 17.28%
• 1Y: 36.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YMAG.L vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025
YMAG.L YieldMax Big Tech Option Income UCITS ETF	5.78%	17.67%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	17.91%	25.25%

Correlation

The correlation between YMAG.L and GPIQ is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Mar 28, 2025	0.58

The correlation between YMAG.L and GPIQ has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

YMAG.L vs. GPIQ — Risk / Return Rank

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

YMAG.L

YMAG.L Risk / Return Rank: 20
YMAG.L Sharpe Ratio Rank: 23
YMAG.L Sortino Ratio Rank: 22
YMAG.L Omega Ratio Rank: 22
YMAG.L Calmar Ratio Rank: 17
YMAG.L Martin Ratio Rank: 17

GPIQ

GPIQ Risk / Return Rank: 82
GPIQ Sharpe Ratio Rank: 85
GPIQ Sortino Ratio Rank: 82
GPIQ Omega Ratio Rank: 83
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.

YMAG.L vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Big Tech Option Income UCITS ETF (YMAG.L) 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.

	YMAG.L	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.76	2.76	-2.00
Sortino ratio: Return per unit of downside risk	1.15	3.65	-2.50
Omega ratio: Gain probability vs. loss probability	1.14	1.49	-0.35
Calmar ratio: Return relative to maximum drawdown	0.65	3.88	-3.23
Martin ratio: Return relative to average drawdown	1.55	17.13	-15.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YMAG.L vs. GPIQ - Sharpe Ratio Comparison

The current YMAG.L Sharpe Ratio is 0.76, which is lower than the GPIQ Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of YMAG.L 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

	YMAG.L	GPIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	2.76	-2.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	1.77	-0.84

Drawdowns

YMAG.L vs. GPIQ - Drawdown Comparison

The maximum YMAG.L drawdown since its inception was -21.32%, roughly equal to the maximum GPIQ drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for YMAG.L and GPIQ.

Drawdown Indicators

	YMAG.L	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-21.32%	-21.06%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-21.32%	-9.51%	-11.81%
Current Drawdown Current decline from peak	-2.98%	-0.52%	-2.46%
Average Drawdown Average peak-to-trough decline	-6.03%	-2.27%	-3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.94%	2.15%	+6.79%

Volatility

YMAG.L vs. GPIQ - Volatility Comparison

YieldMax Big Tech Option Income UCITS ETF (YMAG.L) has a higher volatility of 5.26% compared to Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) at 3.40%. This indicates that YMAG.L'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

	YMAG.L	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	3.40%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	13.34%	10.44%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	13.39%	+4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.76%	17.45%	+4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	17.45%	+4.31%

YMAG.L vs. GPIQ - Expense Ratio Comparison

YMAG.L has a 0.99% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

YMAG.L vs. GPIQ - Dividend Comparison

YMAG.L's dividend yield for the trailing twelve months is around 25.25%, more than GPIQ's 9.35% yield.

Position	TTM	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	9.35%	9.81%	9.18%	1.74%
YMAG.L YieldMax Big Tech Option Income UCITS ETF	25.25%	17.22%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YMAG.L and GPIQ in my portfolio?

YMAG.L and GPIQ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YMAG.L or GPIQ?

On fees, GPIQ 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, YMAG.L or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.99% for YMAG.L.

What is the main difference between YMAG.L and GPIQ?

YMAG.L is categorized as Derivative Income, while GPIQ is Nasdaq-100. They also come from different issuers: YieldMax and Goldman Sachs. Their fees differ too: 0.99% for YMAG.L and 0.29% for GPIQ.