GPIX vs PHEQ
Goldman Sachs S&P 500 Premium Income ETF vs Parametric Hedged Equity ETF
Which is better, GPIX or PHEQ?
GPIX has been ahead.
GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. GPIX is less concentrated, with 38.9% of the fund in its ten largest positions against 40.8%.
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 | GPIX | PHEQ |
|---|---|---|
| Expense Ratio | 0.29%Tie | 0.29%Tie |
| AUM | $6.3B | $152M |
| Dividend Yield | 8.16% | 0.82% |
| Holdings | 496 | 374 |
| YTD Return | +13.52%Best | +9.39% |
| 1Y Return | +17.92%Best | +12.67% |
| 3Y Return (annualized) | +23.39%Best | +14.84% |
| Volatility (annualized) | 10.5% | 6.7%Best |
| Max Drawdown | -17.5% | -12.6%Best |
| $10,000 over 3 years | $18,786Best | $15,561 |
| Top 10 Weight | 38.9%Best | 40.8% |
| Fund Family | Goldman Sachs Asset Management | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 24, 2023 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized).
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).
GPIX vs PHEQ 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.
GPIX vs PHEQ Performance
Goldman Sachs S&P 500 Premium Income ETF (GPIX) is an ETF from Goldman Sachs Asset Management and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Over the past year GPIX returned +17.92% while PHEQ returned +12.67%. Year to date, GPIX is up 13.52% versus a gain of 9.39% for PHEQ.
Over three years, GPIX compounded at +23.39% per year against +14.84% for PHEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GPIX has been the more volatile fund, with annualized monthly volatility of 10.5% compared with 6.7% for PHEQ. 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 -17.5% for GPIX and -12.6% for PHEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GPIX charges 0.29% per year while PHEQ charges 0.29%. On a $10,000 position that is $29 vs $29 annually. On income, GPIX currently yields 8.16% against 0.82% for PHEQ.
Holdings Overlap
65.3% of GPIX's money is in holdings PHEQ also owns. 93.9% of PHEQ's money is in holdings GPIX also owns.
Most of PHEQ is already inside GPIX. Owning both mostly buys the same companies twice.
123 positions in common, counted across the 491 positions we hold weights for in GPIX and 174 in PHEQ, against full books of 496 and 374.
What only one of them owns
Our book lists 42 positions for PHEQ that do not appear in our book for GPIX (7.8% of the fund), and 347 for GPIX that do not appear in PHEQ (34.2%).
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 GPIX | Weight in PHEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.14% | 8.63% | 0.49% |
| AAPLApple, Inc | 7.41% | 7.52% | 0.11% |
| MSFTMicrosoft Corp | 5.50% | 5.98% | 0.48% |
| AMZNAmazon.Com Inc | 3.83% | 3.93% | 0.10% |
| GOOGLAlphabet Inc | 3.25% | 3.20% | 0.05% |
| AVGOBroadcom Inc | 2.51% | 2.68% | 0.17% |
| METAMeta Platforms Inc | 1.47% | 2.40% | 0.93% |
| GOOGAlphabet Inc. C | 1.14% | 2.69% | 1.55% |
| MUMicron Technology, Inc. | 1.69% | 1.94% | 0.25% |
| TSLATesla Inc | 1.57% | 1.83% | 0.26% |
93.9% of PHEQ 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, GPIX or PHEQ?
GPIX has an expense ratio of 0.29% while PHEQ charges 0.29%. At the precision these are quoted to, they cost the same.
Which performed better, GPIX or PHEQ?
Over the past year GPIX returned +17.92% vs +12.67% for PHEQ, so GPIX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GPIX or PHEQ?
GPIX has been the more volatile fund at 10.5% annualized versus 6.7% for PHEQ. Worst drawdown: GPIX -17.5% vs PHEQ -12.6%.
Should I hold both GPIX and PHEQ?
GPIX and PHEQ have a monthly-return correlation of 0.92, 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 GPIX and PHEQ?
93.9% of PHEQ's money is in holdings GPIX also owns. 93.9% of PHEQ's is in holdings GPIX also owns. They hold 123 positions in common, counted across the 491 positions we hold weights for in GPIX and 174 in PHEQ.
Which pays a higher dividend, GPIX or PHEQ?
GPIX yields 8.16% while PHEQ yields 0.82%, so GPIX currently pays the higher dividend yield.
Is PHEQ better than GPIX?
GPIX led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. GPIX is less concentrated, with 38.9% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.