GAMPX vs. GSBFX

Last updated Jun 23, 2026

GAMPX (Goldman Sachs Energy Infrastructure Fund Class P) and GSBFX (Goldman Sachs Income Builder Fund) are both mutual funds - GAMPX is a MLPs fund actively managed by Goldman Sachs, while GSBFX is a Diversified Portfolio fund managed by Goldman Sachs. Over the past 5 years, GAMPX returned 23.32%/yr vs 5.82%/yr for GSBFX. A 0.56 correlation means they provide meaningful diversification when combined. GAMPX charges 1.11%/yr vs 0.79%/yr for GSBFX.

Performance

GAMPX vs. GSBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) and Goldman Sachs Income Builder Fund (GSBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAMPX achieves a 20.86% return, which is significantly higher than GSBFX's 5.68% return.

GAMPX

• 1D: 0.19%
• 1M: -6.55%
• YTD: 20.86%
• 6M: 22.27%
• 1Y: 23.51%
• 3Y*: 31.30%
• 5Y*: 23.32%
• 10Y*: —

GSBFX

• 1D: 0.25%
• 1M: 1.50%
• YTD: 5.68%
• 6M: 5.70%
• 1Y: 13.68%
• 3Y*: 10.58%
• 5Y*: 5.82%
• 10Y*: 7.08%

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

GAMPX vs. GSBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	20.86%	5.43%	58.40%	15.11%	19.15%	38.33%	-17.23%	17.00%	-12.69%
GSBFX Goldman Sachs Income Builder Fund	5.68%	10.42%	9.32%	9.64%	-9.53%	10.50%	9.53%	19.38%	-3.46%

Correlation

The correlation between GAMPX and GSBFX is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 7, 2018	0.56

Over the past year, the correlation between GAMPX and GSBFX has dropped to 0.08 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

GAMPX vs. GSBFX — Risk / Return Rank

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

GAMPX

GAMPX Risk / Return Rank: 44
GAMPX Sharpe Ratio Rank: 37
GAMPX Sortino Ratio Rank: 35
GAMPX Omega Ratio Rank: 33
GAMPX Calmar Ratio Rank: 77
GAMPX Martin Ratio Rank: 38

GSBFX

GSBFX Risk / Return Rank: 77
GSBFX Sharpe Ratio Rank: 80
GSBFX Sortino Ratio Rank: 79
GSBFX Omega Ratio Rank: 76
GSBFX Calmar Ratio Rank: 71
GSBFX Martin Ratio Rank: 77

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.

GAMPX vs. GSBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) and Goldman Sachs Income Builder Fund (GSBFX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GAMPX	GSBFX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.41	-0.76
Sortino ratio: Return per unit of downside risk	2.29	3.46	-1.17
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	3.33	3.11	+0.22
Martin ratio: Return relative to average drawdown	7.85	13.45	-5.59

GAMPX vs. GSBFX - Sharpe Ratio Comparison

The current GAMPX Sharpe Ratio is 1.65, which is lower than the GSBFX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of GAMPX and GSBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GAMPX vs. GSBFX - Drawdown Comparison

The maximum GAMPX drawdown since its inception was -59.18%, which is greater than GSBFX's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for GAMPX and GSBFX.

Drawdown Indicators

	GAMPX	GSBFX	Difference
Max Drawdown Largest peak-to-trough decline	-59.18%	-37.04%	-22.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-4.44%	-2.79%
Max Drawdown (3Y) Largest decline over 3 years	-17.08%	-8.14%	-8.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.97%	-15.94%	-6.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.42%	—
Current Drawdown Current decline from peak	-6.88%	-0.25%	-6.63%
Average Drawdown Average peak-to-trough decline	-8.51%	-4.17%	-4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	1.02%	+2.04%

Volatility

GAMPX vs. GSBFX - Volatility Comparison

Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) has a higher volatility of 5.13% compared to Goldman Sachs Income Builder Fund (GSBFX) at 2.02%. This indicates that GAMPX's price experiences larger fluctuations and is considered to be riskier than GSBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAMPX	GSBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	2.02%	+3.11%
Volatility (6M) Calculated over the trailing 6-month period	11.23%	4.68%	+6.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	5.72%	+8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	7.44%	+13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.79%	8.00%	+17.79%

GAMPX vs. GSBFX - Expense Ratio Comparison

GAMPX has a 1.11% expense ratio, which is higher than GSBFX's 0.79% expense ratio.

Dividends

GAMPX vs. GSBFX - Dividend Comparison

GAMPX's dividend yield for the trailing twelve months is around 8.38%, more than GSBFX's 5.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	8.38%	10.13%	25.55%	10.34%	4.76%	8.54%	4.33%	4.99%	3.75%	0.00%	0.00%	0.00%
GSBFX Goldman Sachs Income Builder Fund	5.07%	4.39%	5.12%	3.41%	4.10%	6.66%	3.05%	3.52%	3.98%	3.52%	3.78%	3.93%

Frequently Asked Questions

Can I hold both GAMPX and GSBFX in my portfolio?

GAMPX and GSBFX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAMPX or GSBFX?

GAMPX has higher volatility (5.13%) compared to GSBFX (2.02%). In terms of maximum drawdown, GAMPX dropped -59.18% vs GSBFX's -37.04%.

Which has better risk-adjusted returns?

GSBFX currently has the higher Sharpe Ratio (2.41 vs 1.65), 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.