AVSF vs. GZIRX

Last updated Jun 4, 2026

AVSF (Avantis Short-Term Fixed Income ETF) and GZIRX (Goldman Sachs Strategic Income Fund) are both funds - AVSF is a Short-Term Bond fund actively managed by Avantis, while GZIRX is a Nontraditional Bonds fund managed by Goldman Sachs. Over the past 5 years, AVSF returned 1.83%/yr vs 4.16%/yr for GZIRX. At a 0.42 correlation, their price movements are largely independent. AVSF charges 0.15%/yr vs 0.78%/yr for GZIRX.

Performance

AVSF vs. GZIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Short-Term Fixed Income ETF (AVSF) and Goldman Sachs Strategic Income Fund (GZIRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVSF achieves a 0.43% return, which is significantly lower than GZIRX's 0.77% return.

AVSF

• 1D: -0.09%
• 1M: 0.10%
• YTD: 0.43%
• 6M: 0.72%
• 1Y: 4.02%
• 3Y*: 4.80%
• 5Y*: 1.83%
• 10Y*: —

GZIRX

• 1D: -0.10%
• 1M: 0.72%
• YTD: 0.77%
• 6M: 1.63%
• 1Y: 7.44%
• 3Y*: 7.48%
• 5Y*: 4.16%
• 10Y*: 3.51%

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

AVSF vs. GZIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AVSF Avantis Short-Term Fixed Income ETF	0.43%	6.57%	3.81%	5.25%	-5.52%	-1.17%	0.53%
GZIRX Goldman Sachs Strategic Income Fund	0.77%	8.49%	6.13%	10.37%	-3.83%	-1.44%	3.17%

Correlation

The correlation between AVSF and GZIRX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020	0.42

The correlation between AVSF and GZIRX shifts across timeframes, from 0.42 (5 years) to 0.52 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AVSF vs. GZIRX — Risk / Return Rank

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

AVSF

AVSF Risk / Return Rank: 64
AVSF Sharpe Ratio Rank: 64
AVSF Sortino Ratio Rank: 72
AVSF Omega Ratio Rank: 67
AVSF Calmar Ratio Rank: 57
AVSF Martin Ratio Rank: 60

GZIRX

GZIRX Risk / Return Rank: 74
GZIRX Sharpe Ratio Rank: 82
GZIRX Sortino Ratio Rank: 85
GZIRX Omega Ratio Rank: 85
GZIRX Calmar Ratio Rank: 52
GZIRX Martin Ratio Rank: 66

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.

AVSF vs. GZIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Short-Term Fixed Income ETF (AVSF) and Goldman Sachs Strategic Income Fund (GZIRX). 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.

	AVSF	GZIRX	Difference
Sharpe ratio Return per unit of total volatility	2.15	2.67	-0.52
Sortino ratio Return per unit of downside risk	3.28	4.05	-0.77
Omega ratio Gain probability vs. loss probability	1.40	1.58	-0.18
Calmar ratio Return relative to maximum drawdown	2.85	2.76	+0.09
Martin ratio Return relative to average drawdown	10.80	12.94	-2.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVSF vs. GZIRX - Sharpe Ratio Comparison

The current AVSF Sharpe Ratio is 2.15, which is comparable to the GZIRX Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of AVSF and GZIRX, 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

	AVSF	GZIRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.67	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	1.23	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.91	-0.25

Drawdowns

AVSF vs. GZIRX - Drawdown Comparison

The maximum AVSF drawdown since its inception was -8.85%, smaller than the maximum GZIRX drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for AVSF and GZIRX.

Drawdown Indicators

	AVSF	GZIRX	Difference
Max Drawdown Largest peak-to-trough decline	-8.85%	-13.90%	+5.05%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-2.72%	+1.30%
Max Drawdown (3Y) Largest decline over 3 years	-1.42%	-3.15%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-8.85%	-7.86%	-0.99%
Max Drawdown (10Y) Largest decline over 10 years	—	-13.90%	—
Current Drawdown Current decline from peak	-0.55%	-0.21%	-0.34%
Average Drawdown Average peak-to-trough decline	-2.20%	-1.78%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	0.58%	-0.21%

Volatility

AVSF vs. GZIRX - Volatility Comparison

The current volatility for Avantis Short-Term Fixed Income ETF (AVSF) is 0.56%, while Goldman Sachs Strategic Income Fund (GZIRX) has a volatility of 0.80%. This indicates that AVSF experiences smaller price fluctuations and is considered to be less risky than GZIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVSF	GZIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	0.80%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	2.41%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	1.88%	2.81%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	3.39%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.52%	3.72%	-1.20%

AVSF vs. GZIRX - Expense Ratio Comparison

AVSF has a 0.15% expense ratio, which is lower than GZIRX's 0.78% expense ratio.

Dividends

AVSF vs. GZIRX - Dividend Comparison

AVSF's dividend yield for the trailing twelve months is around 4.02%, less than GZIRX's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVSF Avantis Short-Term Fixed Income ETF	4.02%	4.31%	4.34%	3.93%	1.78%	0.48%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%
GZIRX Goldman Sachs Strategic Income Fund	4.32%	4.06%	6.61%	3.36%	2.38%	2.34%	3.76%	3.38%	2.66%	1.33%	2.18%	4.59%

Frequently Asked Questions

Can I hold both AVSF and GZIRX in my portfolio?

AVSF and GZIRX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVSF or GZIRX?

GZIRX has higher volatility (0.80%) compared to AVSF (0.56%). In terms of maximum drawdown, AVSF dropped -8.85% vs GZIRX's -13.90%.

Which has better risk-adjusted returns?

GZIRX currently has the higher Sharpe Ratio (2.67 vs 2.15), 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.