Goldman Sachs S&P 500 Premium Income ETF (GPIX)
$55.60−0.89%close of Oct 16, 2026
Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an exchange-traded fund (ETF) run by Goldman Sachs Asset Management. This fund owns mostly stocks from the S&P 500 and sells call options to earn extra cash for monthly payouts. It charges 0.29% a year. From October 2023 to October 2026 it returned about 22.5% a year, and its worst drop was −17.5%.
Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 16, 2026.
- Yearly fee
- 0.29%
- about $29 on $10,000
- 1-year return
- 17.4%
- to Oct 16, 2026
- Return per year
- 22.5%
- since October 2023
- Worst drop
- −17.5%
- since 2023
- Below its high
- −1.5%
- now
- Volatility
- 13.5%
- yearly swings
- Issuer
- Goldman Sachs Asset Management
- Tracks
- No index (actively managed)
- Started trading
- October 24, 2023
- Type
- US stocks, ETF
- Holdings
- 492 holdings as of June 30, 2026
- Expense ratio
- 0.29% a year
How has GPIX done since 2023?#
From October 2023 to October 2026, GPIX returned about 22.5% a year. The S&P 500 returned about 24.7% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $18,264 at the end, with every dividend reinvested.
| Period | GPIX | S&P 500 (SPY) |
|---|---|---|
| 1 month | 1.7% | 1.5% |
| 3 months | 2.4% | 1.9% |
| 6 months | 9.4% | 9.3% |
| Year to date | 13.1% | 12.8% |
| 1 year | 17.4% | 16.8% |
| Since 2023 per year | 22.5% | 24.7% |
Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.
GPIX returns by month and year#
GPIX rose in 28 of its 37 months (76%). Its best month was April 2026, at 8.9%. Its worst was March 2025, at −5.2%.
| Year | Total | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 13.1% | 1.5 | −0.3 | −4.4 | 8.9 | 4.4 | −0.3 | 0.4 | 2.2 | 0.0 | 0.3 | ||
| 2025 | 16.3% | 2.4 | −0.8 | −5.2 | −0.9 | 5.6 | 4.3 | 2.1 | 2.0 | 2.9 | 2.3 | 0.5 | 0.5 |
| 2024 | 21.8% | 1.6 | 4.1 | 2.7 | −3.7 | 4.6 | 2.4 | 1.2 | 2.4 | 1.9 | −0.5 | 5.2 | −1.7 |
| 2023 | 14.1% | 2.0 | 7.3 | 4.3 |
Each month runs from the last close of the month before. The first month counts from the first close.
How risky is GPIX compared with the S&P 500?#
Measured from October 2023 to October 2026, on the days both traded.
- Beta 0.87. When the S&P 500 moved 1% in a day, GPIX tended to move about 0.87%.
- Correlation 0.99. GPIX mostly moved with the S&P 500.
- Up and down months. In months the S&P 500 rose, GPIX rose 88% as much on average. In months it fell, GPIX fell 79% as much.
| Measure | GPIX | S&P 500 (SPY) |
|---|---|---|
| Return per year | 22.5% | 24.7% |
| Volatility | 13.5% | 15.3% |
| Worst drop | −17.5% | −18.8% |
| Sharpe ratio | 1.58 | 1.53 |
| Sortino ratio | 2.37 | 2.32 |
| Calmar ratio | 1.28 | 1.32 |
Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.
Is GPIX above its 200-day average?#
GPIX closed 6.0% above its 200-day average on October 16, 2026. A rule that holds GPIX only above that average would hold it today.
- vs 200-day average
- +6.0%
- above it
- 50-day vs 200-day
- +6.0%
- trend rising
- vs 52-week high
- −1.5%
- high of $56.44
A moving average is the average close over the last so many days. Trend rules such as the 10-month moving average strategy hold a fund only while it is above one. You can build that rule for GPIX and backtest it in a minute.
What was GPIX’s worst drop?#
A drawdown is how far a fund falls from its last high point. GPIX’s worst fall was −17.5%, from February 19, 2025 to April 8, 2025. It got back to that high on June 26, 2025. On October 16, 2026 it was 1.5% below its highest close.
| Drop | From the high | To the bottom | Back to the high |
|---|---|---|---|
| −17.5% | Feb 19, 2025 | Apr 8, 20252 months | Jun 26, 20253 months |
| −7.7% | Feb 25, 2026 | Mar 30, 202633 days | Apr 14, 202615 days |
| −7.0% | Jul 16, 2024 | Aug 5, 202420 days | Aug 21, 202416 days |
| −5.0% | Mar 28, 2024 | Apr 19, 202422 days | May 15, 202426 days |
| −4.2% | Oct 28, 2025 | Nov 20, 202523 days | Dec 4, 202514 days |
Big drops are normal for some funds. They matter because selling during a drop locks in the loss.
What does GPIX hold?#
This fund owns mostly stocks from the S&P 500 and sells call options to earn extra cash for monthly payouts. Its managers choose the stocks and decide how many options to sell. Selling options means it may trail the stock market when prices rise quickly.
It does not track an index. Its managers choose what it holds. It had 492 holdings as of June 30, 2026, according to Goldman Sachs Asset Management.
What is the GPIX expense ratio?#
GPIX charges 0.29% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.29% fee comes to about $29 a year. Of the 162 ETFs on Tactfolio, 26% charge more.
You never get a bill for it. The fund takes the fee out of its own value a little each day.
Which Tactfolio strategies hold GPIX?#
No classic strategy holds GPIX yet. You can add it to your own rules in the builder and see how they would have done.
How does GPIX compare with similar ETFs?#
Funds that can stand in for GPIX:
- JEPI: JPMorgan Equity Premium Income ETF, 0.35% a year
- JEPQ: JPMorgan Nasdaq Equity Premium Income ETF, 0.35% a year
- DIVO: Amplify CWP Enhanced Dividend Income ETF, 0.56% a year
- QYLD: Global X NASDAQ 100 Covered Call ETF, 0.6% a year
See all 8 GPIX alternatives, compared on the same dates as GPIX.
Test GPIX in your own rules#
Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add GPIX, and see how a rule such as “hold it only above its 200-day average” would have done. Strategies run on daily prices and hold US stocks and ETFs only.
The details#
Prices come from Tactfolio’s stored daily prices for GPIX and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.
Fund facts come from Goldman Sachs Asset Management. We checked them on October 17, 2026. Read what a backtest simulates and how to read drawdown and CAGR for more on these measures.
Common questions#
What is the expense ratio of GPIX?#
GPIX charges 0.29% a year, according to Goldman Sachs Asset Management as of October 17, 2026. That is about $29 a year for every $10,000 you hold.
When did GPIX start trading?#
GPIX started trading on October 24, 2023. It is run by Goldman Sachs Asset Management.
What does GPIX track?#
GPIX does not track an index. Its managers choose what it holds.
How much has GPIX returned per year?#
From October 2023 to October 2026, GPIX returned about 22.5% a year with dividends reinvested. Its worst drop was −17.5%. Past returns do not tell you what it will do next.
Is GPIX above its 200-day moving average?#
On October 16, 2026, GPIX closed 6.0% above its 200-day moving average. This page updates after each US market close.
Which strategies use GPIX?#
None of Tactfolio’s classic strategies hold GPIX yet. You can test it in your own rules in the builder.