GDOC vs. GHYB
GDOC (Goldman Sachs Future Health Care Equity ETF) and GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) are both exchange-traded funds - GDOC is a Health & Biotech Equities fund actively managed by Goldman Sachs, while GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index. GDOC is actively managed, while GHYB is passively managed. Over the past 3 years, GDOC returned 0.05%/yr vs 8.55%/yr for GHYB. A 0.59 correlation means they provide meaningful diversification when combined. GDOC charges 0.75%/yr vs 0.34%/yr for GHYB.
Performance
GDOC vs. GHYB - Performance Comparison
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Returns By Period
In the year-to-date period, GDOC achieves a -7.76% return, which is significantly lower than GHYB's 1.16% return.
GDOC
- 1D
- 0.41%
- 1M
- 1.93%
- YTD
- -7.76%
- 6M
- -9.87%
- 1Y
- 5.18%
- 3Y*
- 0.05%
- 5Y*
- —
- 10Y*
- —
GHYB
- 1D
- -0.36%
- 1M
- 0.33%
- YTD
- 1.16%
- 6M
- 1.43%
- 1Y
- 6.91%
- 3Y*
- 8.55%
- 5Y*
- 3.99%
- 10Y*
- —
GDOC vs. GHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GDOC Goldman Sachs Future Health Care Equity ETF | -7.76% | 10.74% | -1.66% | 4.60% | -17.12% | -2.77% |
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.16% | 9.38% | 7.76% | 12.13% | -11.02% | 0.69% |
Correlation
The correlation between GDOC and GHYB is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2021 | 0.59 |
The correlation between GDOC and GHYB shifts across timeframes, from 0.47 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDOC vs. GHYB — Risk / Return Rank
GDOC
GHYB
GDOC vs. GHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Future Health Care Equity ETF (GDOC) and Goldman Sachs Access High Yield Corporate Bond ETF (GHYB). 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.
| GDOC | GHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.38 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 2.59 | -2.26 |
| Martin ratioReturn relative to average drawdown | 0.76 | 11.87 | -11.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDOC | GHYB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 1.98 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.19 | 0.55 | -0.74 |
Drawdowns
GDOC vs. GHYB - Drawdown Comparison
The maximum GDOC drawdown since its inception was -31.01%, which is greater than GHYB's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for GDOC and GHYB.
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Drawdown Indicators
| GDOC | GHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.01% | -21.48% | -9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -15.67% | -2.67% | -13.00% |
Max Drawdown (3Y)Largest decline over 3 years | -22.51% | -4.66% | -17.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.08% | — |
Current DrawdownCurrent decline from peak | -15.53% | -0.36% | -15.17% |
Average DrawdownAverage peak-to-trough decline | -15.90% | -2.57% | -13.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.83% | 0.58% | +6.25% |
Volatility
GDOC vs. GHYB - Volatility Comparison
Goldman Sachs Future Health Care Equity ETF (GDOC) has a higher volatility of 4.90% compared to Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) at 1.08%. This indicates that GDOC's price experiences larger fluctuations and is considered to be riskier than GHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDOC | GHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 1.08% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 11.61% | 2.72% | +8.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.64% | 3.51% | +12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.79% | 7.69% | +11.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 8.28% | +10.51% |
GDOC vs. GHYB - Expense Ratio Comparison
GDOC has a 0.75% expense ratio, which is higher than GHYB's 0.34% expense ratio.
Dividends
GDOC vs. GHYB - Dividend Comparison
GDOC's dividend yield for the trailing twelve months is around 0.35%, less than GHYB's 6.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GDOC Goldman Sachs Future Health Care Equity ETF | 0.35% | 0.32% | 0.02% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.81% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% |
Frequently Asked Questions
GDOC and GHYB have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDOC has higher volatility (4.90%) compared to GHYB (1.08%). In terms of maximum drawdown, GDOC dropped -31.01% vs GHYB's -21.48%.
On 3-year performance, GHYB leads with 8.55% vs 0.05% for GDOC. On fees, GHYB is cheaper at 0.34% per year. On volatility, GHYB has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GHYB has performed better with a 8.55% return vs 0.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GHYB is cheaper with a 0.34% expense ratio, compared with 0.75% for GDOC.
GHYB has the higher dividend yield at 6.81%, compared with 0.35% for GDOC.
GDOC is categorized as Health & Biotech Equities, while GHYB is High Yield Bonds. Their fees differ too: 0.75% for GDOC and 0.34% for GHYB.
GHYB currently has the higher Sharpe Ratio (1.98 vs 0.33), 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.
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