GCSIX vs. AZBIX

Last updated Jun 4, 2026

GCSIX (Goldman Sachs Small Cap Equity Insights Fund) and AZBIX (Virtus Small-Cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, GCSIX returned 13.50%/yr vs 11.87%/yr for AZBIX. With a 0.96 correlation, they move nearly in lockstep. GCSIX charges 0.84%/yr vs 0.89%/yr for AZBIX.

Performance

GCSIX vs. AZBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Equity Insights Fund (GCSIX) and Virtus Small-Cap Fund (AZBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCSIX achieves a 20.38% return, which is significantly higher than AZBIX's 18.19% return. Over the past 10 years, GCSIX has outperformed AZBIX with an annualized return of 13.50%, while AZBIX has yielded a comparatively lower 11.87% annualized return.

GCSIX

• 1D: 0.92%
• 1M: 4.81%
• YTD: 20.38%
• 6M: 19.64%
• 1Y: 45.58%
• 3Y*: 27.76%
• 5Y*: 12.62%
• 10Y*: 13.50%

AZBIX

• 1D: 1.46%
• 1M: 4.03%
• YTD: 18.19%
• 6M: 17.67%
• 1Y: 33.37%
• 3Y*: 18.23%
• 5Y*: 8.33%
• 10Y*: 11.87%

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

GCSIX vs. AZBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCSIX Goldman Sachs Small Cap Equity Insights Fund	20.38%	15.66%	33.50%	19.76%	-19.98%	23.56%	6.95%	25.43%	-8.82%	11.82%
AZBIX Virtus Small-Cap Fund	18.19%	8.49%	19.06%	14.09%	-18.04%	18.92%	16.98%	24.13%	-9.25%	21.27%

Correlation

The correlation between GCSIX and AZBIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 3, 2013	0.96

The correlation between GCSIX and AZBIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

GCSIX vs. AZBIX — Risk / Return Rank

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

GCSIX

GCSIX Risk / Return Rank: 74
GCSIX Sharpe Ratio Rank: 72
GCSIX Sortino Ratio Rank: 64
GCSIX Omega Ratio Rank: 54
GCSIX Calmar Ratio Rank: 91
GCSIX Martin Ratio Rank: 88

AZBIX

AZBIX Risk / Return Rank: 59
AZBIX Sharpe Ratio Rank: 51
AZBIX Sortino Ratio Rank: 50
AZBIX Omega Ratio Rank: 44
AZBIX Calmar Ratio Rank: 81
AZBIX Martin Ratio Rank: 68

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.

GCSIX vs. AZBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Equity Insights Fund (GCSIX) and Virtus Small-Cap Fund (AZBIX). 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.

	GCSIX	AZBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.09	+0.37
Sortino ratio: Return per unit of downside risk	3.36	2.98	+0.38
Omega ratio: Gain probability vs. loss probability	1.40	1.36	+0.04
Calmar ratio: Return relative to maximum drawdown	4.79	3.74	+1.05
Martin ratio: Return relative to average drawdown	17.30	13.11	+4.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCSIX vs. AZBIX - Sharpe Ratio Comparison

The current GCSIX Sharpe Ratio is 2.47, which is comparable to the AZBIX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of GCSIX and AZBIX, 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

	GCSIX	AZBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.09	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.41	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.56	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.55	-0.18

Drawdowns

GCSIX vs. AZBIX - Drawdown Comparison

The maximum GCSIX drawdown since its inception was -63.23%, which is greater than AZBIX's maximum drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for GCSIX and AZBIX.

Drawdown Indicators

	GCSIX	AZBIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.23%	-40.80%	-22.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.06%	-9.33%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-29.01%	+3.82%
Max Drawdown (5Y) Largest decline over 5 years	-30.97%	-29.85%	-1.12%
Max Drawdown (10Y) Largest decline over 10 years	-45.08%	-40.80%	-4.28%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.41%	-7.71%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.66%	+0.12%

Volatility

GCSIX vs. AZBIX - Volatility Comparison

Goldman Sachs Small Cap Equity Insights Fund (GCSIX) has a higher volatility of 5.56% compared to Virtus Small-Cap Fund (AZBIX) at 4.98%. This indicates that GCSIX's price experiences larger fluctuations and is considered to be riskier than AZBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCSIX	AZBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	4.98%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	12.17%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	16.69%	+2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.05%	20.50%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.76%	21.36%	+2.40%

GCSIX vs. AZBIX - Expense Ratio Comparison

GCSIX has a 0.84% expense ratio, which is lower than AZBIX's 0.89% expense ratio.

Dividends

GCSIX vs. AZBIX - Dividend Comparison

GCSIX's dividend yield for the trailing twelve months is around 8.75%, more than AZBIX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AZBIX Virtus Small-Cap Fund	4.15%	4.90%	10.82%	2.31%	4.78%	13.82%	0.45%	0.38%	9.62%	13.80%	0.03%	3.59%
GCSIX Goldman Sachs Small Cap Equity Insights Fund	8.75%	10.54%	25.02%	0.75%	0.87%	30.90%	0.50%	0.54%	6.50%	0.27%	0.60%	0.58%

Frequently Asked Questions

Can I hold both GCSIX and AZBIX in my portfolio?

With a correlation of 0.95, GCSIX and AZBIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GCSIX or AZBIX?

GCSIX has higher volatility (5.56%) compared to AZBIX (4.98%). In terms of maximum drawdown, GCSIX dropped -63.23% vs AZBIX's -40.80%.

Which has better risk-adjusted returns?

GCSIX currently has the higher Sharpe Ratio (2.47 vs 2.09), 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.