ASMF vs. GSST

Last updated Jun 4, 2026

ASMF (Virtus AlphaSimplex Managed Futures ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) are both exchange-traded funds - ASMF is a Systematic Trend fund actively managed by Virtus, while GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, ASMF returned 17.16% vs 4.61% for GSST. At a correlation of -0.08, they often move in opposite directions. ASMF charges 0.80%/yr vs 0.16%/yr for GSST.

Performance

ASMF vs. GSST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus AlphaSimplex Managed Futures ETF (ASMF) and Goldman Sachs Ultra Short Bond ETF (GSST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASMF achieves a 9.39% return, which is significantly higher than GSST's 1.55% return.

ASMF

• 1D: 0.01%
• 1M: 1.73%
• YTD: 9.39%
• 6M: 11.45%
• 1Y: 17.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSST

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.61%
• 3Y*: 5.52%
• 5Y*: 3.75%
• 10Y*: —

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

ASMF vs. GSST - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ASMF Virtus AlphaSimplex Managed Futures ETF	9.39%	1.16%	-3.56%
GSST Goldman Sachs Ultra Short Bond ETF	1.55%	5.20%	3.72%

Correlation

The correlation between ASMF and GSST is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since May 17, 2024	-0.08

Return for Risk

ASMF vs. GSST — Risk / Return Rank

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

ASMF

ASMF Risk / Return Rank: 51
ASMF Sharpe Ratio Rank: 44
ASMF Sortino Ratio Rank: 42
ASMF Omega Ratio Rank: 46
ASMF Calmar Ratio Rank: 69
ASMF Martin Ratio Rank: 54

GSST

GSST Risk / Return Rank: 99
GSST Sharpe Ratio Rank: 99
GSST Sortino Ratio Rank: 99
GSST Omega Ratio Rank: 99
GSST Calmar Ratio Rank: 99
GSST Martin Ratio Rank: 99

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.

ASMF vs. GSST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Managed Futures ETF (ASMF) and Goldman Sachs Ultra Short Bond ETF (GSST). 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.

	ASMF	GSST	Difference
Sharpe ratio: Return per unit of total volatility	1.55	7.98	-6.43
Sortino ratio: Return per unit of downside risk	2.15	16.58	-14.43
Omega ratio: Gain probability vs. loss probability	1.29	3.94	-2.65
Calmar ratio: Return relative to maximum drawdown	3.43	29.99	-26.56
Martin ratio: Return relative to average drawdown	9.07	185.54	-176.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASMF vs. GSST - Sharpe Ratio Comparison

The current ASMF Sharpe Ratio is 1.55, which is lower than the GSST Sharpe Ratio of 7.98. The chart below compares the historical Sharpe Ratios of ASMF and GSST, 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

	ASMF	GSST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	7.98	-6.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	5.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	3.78	-3.49

Drawdowns

ASMF vs. GSST - Drawdown Comparison

The maximum ASMF drawdown since its inception was -15.31%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for ASMF and GSST.

Drawdown Indicators

	ASMF	GSST	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-3.51%	-11.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-0.15%	-4.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.19%	—
Current Drawdown Current decline from peak	-1.34%	0.00%	-1.34%
Average Drawdown Average peak-to-trough decline	-7.61%	-0.16%	-7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	0.02%	+1.88%

Volatility

ASMF vs. GSST - Volatility Comparison

Virtus AlphaSimplex Managed Futures ETF (ASMF) has a higher volatility of 2.59% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.13%. This indicates that ASMF's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASMF	GSST	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	0.13%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	9.28%	0.41%	+8.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	0.58%	+10.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	0.63%	+10.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	0.86%	+10.11%

ASMF vs. GSST - Expense Ratio Comparison

ASMF has a 0.80% expense ratio, which is higher than GSST's 0.16% expense ratio.

Dividends

ASMF vs. GSST - Dividend Comparison

ASMF's dividend yield for the trailing twelve months is around 0.20%, less than GSST's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ASMF Virtus AlphaSimplex Managed Futures ETF	0.20%	0.22%	1.66%	0.00%	0.00%	0.00%	0.00%	0.00%
GSST Goldman Sachs Ultra Short Bond ETF	4.32%	4.56%	5.45%	4.98%	1.97%	0.71%	1.12%	1.66%

Frequently Asked Questions

Can I hold both ASMF and GSST in my portfolio?

ASMF and GSST have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASMF or GSST?

ASMF has higher volatility (2.59%) compared to GSST (0.13%). In terms of maximum drawdown, ASMF dropped -15.31% vs GSST's -3.51%.

Which ETF is better, ASMF or GSST?

On 1-year performance, ASMF leads with 17.16% vs 4.61% for GSST. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASMF or GSST?

Over the 1-year period, ASMF has performed better with a 17.16% return vs 4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASMF or GSST?

GSST is cheaper with a 0.16% expense ratio, compared with 0.80% for ASMF.

Which ETF pays a higher dividend yield, ASMF or GSST?

GSST has the higher dividend yield at 4.32%, compared with 0.20% for ASMF.

What is the main difference between ASMF and GSST?

ASMF is categorized as Systematic Trend, while GSST is Ultrashort Bond. They also come from different issuers: Virtus and Goldman Sachs. Their fees differ too: 0.80% for ASMF and 0.16% for GSST.

Which has better risk-adjusted returns?

GSST currently has the higher Sharpe Ratio (7.98 vs 1.55), 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.