GARTX vs. FMUAX

Last updated Jul 17, 2026

GARTX (Goldman Sachs Absolute Return Tracker Fund Class A) and FMUAX (Federated Hermes Municipal and Stock Advantage Fund) are both Diversified Portfolio funds. Over the past 10 years, GARTX returned 5.06%/yr vs 6.06%/yr for FMUAX. A 0.76 correlation means they provide meaningful diversification when combined. GARTX charges 1.10%/yr vs 1.00%/yr for FMUAX.

Performance

GARTX vs. FMUAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Absolute Return Tracker Fund Class A (GARTX) and Federated Hermes Municipal and Stock Advantage Fund (FMUAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GARTX achieves a 6.16% return, which is significantly lower than FMUAX's 6.76% return. Over the past 10 years, GARTX has underperformed FMUAX with an annualized return of 5.06%, while FMUAX has yielded a comparatively higher 6.06% annualized return.

GARTX

• 1D: 0.00%
• 1M: 0.09%
• 6M: 4.62%
• YTD: 6.16%
• 1Y: 11.87%
• 3Y*: 8.41%
• 5Y*: 5.33%
• 10Y*: 5.06%

FMUAX

• 1D: 0.06%
• 1M: 0.66%
• 6M: 5.56%
• YTD: 6.76%
• 1Y: 15.21%
• 3Y*: 9.78%
• 5Y*: 5.03%
• 10Y*: 6.06%

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

GARTX vs. FMUAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GARTX Goldman Sachs Absolute Return Tracker Fund Class A	6.16%	9.36%	6.62%	10.45%	-6.61%	6.06%	3.30%	10.36%	-2.80%	6.93%
FMUAX Federated Hermes Municipal and Stock Advantage Fund	6.76%	9.00%	8.70%	9.81%	-10.68%	10.32%	8.48%	15.16%	-5.24%	11.09%

Correlation

The correlation between GARTX and FMUAX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 2, 2008	0.76

The correlation between GARTX and FMUAX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

Return for Risk

GARTX vs. FMUAX — Risk / Return Rank

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

GARTX

GARTX Risk / Return Rank: 73
GARTX Sharpe Ratio Rank: 71
GARTX Sortino Ratio Rank: 69
GARTX Omega Ratio Rank: 72
GARTX Calmar Ratio Rank: 74
GARTX Martin Ratio Rank: 79

FMUAX

FMUAX Risk / Return Rank: 94
FMUAX Sharpe Ratio Rank: 97
FMUAX Sortino Ratio Rank: 96
FMUAX Omega Ratio Rank: 91
FMUAX Calmar Ratio Rank: 90
FMUAX Martin Ratio Rank: 96

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.

GARTX vs. FMUAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Absolute Return Tracker Fund Class A (GARTX) and Federated Hermes Municipal and Stock Advantage Fund (FMUAX). 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.

	GARTX	FMUAX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	3.00	-1.05
Sortino ratio: Return per unit of downside risk	2.74	4.63	-1.89
Omega ratio: Gain probability vs. loss probability	1.37	1.58	-0.21
Calmar ratio: Return relative to maximum drawdown	2.81	3.77	-0.96
Martin ratio: Return relative to average drawdown	11.67	18.23	-6.57

GARTX vs. FMUAX - Sharpe Ratio Comparison

The current GARTX Sharpe Ratio is 1.95, which is lower than the FMUAX Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of GARTX and FMUAX, 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

GARTX vs. FMUAX - Drawdown Comparison

The maximum GARTX drawdown since its inception was -19.12%, smaller than the maximum FMUAX drawdown of -22.43%. Use the drawdown chart below to compare losses from any high point for GARTX and FMUAX.

Drawdown Indicators

	GARTX	FMUAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.12%	-22.43%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	-4.29%	-4.94%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-8.47%	-10.18%	+1.71%
Max Drawdown (5Y) Largest decline over 5 years	-11.17%	-15.93%	+4.76%
Max Drawdown (10Y) Largest decline over 10 years	-13.24%	-21.46%	+8.22%
Current Drawdown Current decline from peak	-0.46%	-0.06%	-0.40%
Average Drawdown Average peak-to-trough decline	-4.24%	-2.74%	-1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.95%	+0.08%

Volatility

GARTX vs. FMUAX - Volatility Comparison

Goldman Sachs Absolute Return Tracker Fund Class A (GARTX) has a higher volatility of 2.16% compared to Federated Hermes Municipal and Stock Advantage Fund (FMUAX) at 1.57%. This indicates that GARTX's price experiences larger fluctuations and is considered to be riskier than FMUAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GARTX	FMUAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	1.57%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	5.13%	4.86%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	6.19%	6.23%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	7.21%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	8.13%	-1.64%

GARTX vs. FMUAX - Expense Ratio Comparison

GARTX has a 1.10% expense ratio, which is higher than FMUAX's 1.00% expense ratio.

Dividends

GARTX vs. FMUAX - Dividend Comparison

GARTX's dividend yield for the trailing twelve months is around 1.76%, more than FMUAX's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMUAX Federated Hermes Municipal and Stock Advantage Fund	1.42%	1.23%	2.01%	2.53%	2.25%	4.56%	2.12%	4.00%	7.98%	2.17%	2.36%	2.80%
GARTX Goldman Sachs Absolute Return Tracker Fund Class A	1.76%	1.87%	0.81%	2.49%	5.02%	9.26%	0.63%	3.33%	2.38%	3.58%	0.41%	1.37%

Frequently Asked Questions

Can I hold both GARTX and FMUAX in my portfolio?

GARTX and FMUAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GARTX or FMUAX?

GARTX has higher volatility (2.16%) compared to FMUAX (1.57%). In terms of maximum drawdown, GARTX dropped -19.12% vs FMUAX's -22.43%.

Which has better risk-adjusted returns?

FMUAX currently has the higher Sharpe Ratio (3.00 vs 1.95), 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.