ETY vs GPIX
Eaton Vance Tax-Managed Diversified Equity Income Fund vs Goldman Sachs S&P 500 Premium Income ETF
Which is better, ETY or GPIX?
GPIX has been ahead.
GPIX has a lower expense ratio. GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.91. GPIX is less concentrated, with 38.9% of the fund in its ten largest positions against 50.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ETY | GPIX |
|---|---|---|
| Expense Ratio | 1.06% | 0.29%Best |
| AUM | $1.8B | $6.3B |
| Dividend Yield | 7.52% | 8.16% |
| Holdings | 61 | 496 |
| YTD Return | -2.20% | +13.52%Best |
| 1Y Return | -2.84% | +17.92%Best |
| 3Y Return (annualized) | +15.48% | +23.39%Best |
| 5Y Return (annualized) | +8.08% | - |
| Volatility (annualized) | 12.6% | 10.5%Best |
| Max Drawdown | -21.3% | -17.5%Best |
| $10,000 over 3 years | $16,674 | $18,786Best |
| Top 10 Weight | 50.5% | 38.9%Best |
| Fund Family | Eaton Vance | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 27, 2006 | Oct 24, 2023 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 26, 2023 to Oct 14, 2026 (3 years).
ETY vs GPIX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
ETY vs GPIX Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance and Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an ETF from Goldman Sachs Asset Management. Over the past year ETY returned -2.84% while GPIX returned +17.92%. Year to date, ETY is down 2.20% versus a gain of 13.52% for GPIX.
Over three years, ETY compounded at +15.48% per year against +23.39% for GPIX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 12.6% compared with 10.5% for GPIX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -21.3% for ETY and -17.5% for GPIX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ETY charges 1.06% per year while GPIX charges 0.29%. On a $10,000 position that is $106 vs $29 annually, a gap of $77 per year that compounds over a long holding period. On income, ETY currently yields 7.52% against 8.16% for GPIX.
Holdings Overlap
88.2% of ETY's money is in holdings GPIX also owns. 44.9% of GPIX's money is in holdings ETY also owns.
Most of ETY is already inside GPIX. Owning both mostly buys the same companies twice.
The two holdings books were reported 46 days apart, ETY as of Jul 31, 2026 and GPIX as of Sep 15, 2026, so some of the difference between them is the time between the two reports rather than the funds.
42 positions in common, counted across the 58 positions we hold weights for in ETY and 491 in GPIX, against full books of 61 and 496.
What only one of them owns
Our book lists 428 positions for GPIX that do not appear in our book for ETY (54.7% of the fund), and 11 for ETY that do not appear in GPIX (8.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ETY | Weight in GPIX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.28% | 8.14% | 1.14% |
| AAPLApple, Inc | 7.05% | 7.41% | 0.36% |
| MSFTMicrosoft Corp | 6.19% | 5.50% | 0.69% |
| AMZNAmazon.Com Inc | 5.50% | 3.83% | 1.67% |
| GOOGAlphabet Inc. C | 7.02% | 1.14% | 5.88% |
| AVGOBroadcom Inc | 4.14% | 2.51% | 1.63% |
| JPMJpmorgan Chase | 3.23% | 1.47% | 1.76% |
| LLYEli Lilly & Co. | 2.66% | 1.36% | 1.30% |
| METAMeta Platforms Inc | 2.35% | 1.47% | 0.88% |
| VVisa Inc Class A | 2.76% | 0.99% | 1.77% |
88.2% of ETY is already inside GPIX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ETY or GPIX?
ETY has an expense ratio of 1.06% while GPIX charges 0.29%. GPIX is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, ETY or GPIX?
Over the past year ETY returned -2.84% vs +17.92% for GPIX, so GPIX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or GPIX?
ETY has been the more volatile fund at 12.6% annualized versus 10.5% for GPIX. Worst drawdown: ETY -21.3% vs GPIX -17.5%.
Should I hold both ETY and GPIX?
ETY and GPIX have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ETY and GPIX?
88.2% of ETY's money is in holdings GPIX also owns. 44.9% of GPIX's is in holdings ETY also owns. They hold 42 positions in common, counted across the 58 positions we hold weights for in ETY and 491 in GPIX.
Which pays a higher dividend, ETY or GPIX?
ETY yields 7.52% while GPIX yields 8.16%, so GPIX currently pays the higher dividend yield.
Is GPIX better than ETY?
GPIX has a lower expense ratio. GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.91. GPIX is less concentrated, with 38.9% of the fund in its ten largest positions against 50.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.