GHYIX vs. SRHMX
GHYIX (Goldman Sachs High Yield Municipal Fund Institutional Class) and SRHMX (Columbia High Yield Municipal Fund) are both High Yield Muni funds. Over the past 10 years, GHYIX returned 3.60%/yr vs 2.73%/yr for SRHMX. A 0.79 correlation means they provide meaningful diversification when combined. GHYIX charges 0.54%/yr vs 0.65%/yr for SRHMX.
Performance
GHYIX vs. SRHMX - Performance Comparison
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Returns By Period
In the year-to-date period, GHYIX achieves a 2.73% return, which is significantly lower than SRHMX's 3.38% return. Over the past 10 years, GHYIX has outperformed SRHMX with an annualized return of 3.60%, while SRHMX has yielded a comparatively lower 2.73% annualized return.
GHYIX
- 1D
- 0.22%
- 1M
- 2.17%
- YTD
- 2.73%
- 6M
- 3.37%
- 1Y
- 7.40%
- 3Y*
- 5.27%
- 5Y*
- 0.88%
- 10Y*
- 3.60%
SRHMX
- 1D
- 0.11%
- 1M
- 2.22%
- YTD
- 3.38%
- 6M
- 3.99%
- 1Y
- 8.98%
- 3Y*
- 6.27%
- 5Y*
- 0.79%
- 10Y*
- 2.73%
GHYIX vs. SRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYIX Goldman Sachs High Yield Municipal Fund Institutional Class | 2.73% | 3.92% | 5.74% | 7.34% | -14.79% | 5.79% | 4.96% | 11.47% | 4.97% | 9.33% |
SRHMX Columbia High Yield Municipal Fund | 3.38% | 4.36% | 7.72% | 6.63% | -17.44% | 6.57% | 3.75% | 9.05% | 2.43% | 7.05% |
Correlation
The correlation between GHYIX and SRHMX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.79 |
The correlation between GHYIX and SRHMX shifts across timeframes, from 0.79 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GHYIX vs. SRHMX — Risk / Return Rank
GHYIX
SRHMX
GHYIX vs. SRHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) and Columbia High Yield Municipal Fund (SRHMX). 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.
| GHYIX | SRHMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.65 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.32 | -0.87 |
| Martin ratioReturn relative to average drawdown | 7.60 | 12.06 | -4.47 |
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Drawdowns
GHYIX vs. SRHMX - Drawdown Comparison
The maximum GHYIX drawdown since its inception was -35.88%, which is greater than SRHMX's maximum drawdown of -26.04%. Use the drawdown chart below to compare losses from any high point for GHYIX and SRHMX.
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Drawdown Indicators
| GHYIX | SRHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -26.04% | -9.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.72% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -8.35% | -8.81% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -19.82% | -22.59% | +2.77% |
Max Drawdown (10Y)Largest decline over 10 years | -19.82% | -22.59% | +2.77% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.60% | -2.99% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.75% | +0.23% |
Volatility
GHYIX vs. SRHMX - Volatility Comparison
The current volatility for Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) is 0.90%, while Columbia High Yield Municipal Fund (SRHMX) has a volatility of 0.95%. This indicates that GHYIX experiences smaller price fluctuations and is considered to be less risky than SRHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHYIX | SRHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.95% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 2.53% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 3.44% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.35% | 5.90% | -0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.39% | 5.61% | -0.22% |
GHYIX vs. SRHMX - Expense Ratio Comparison
GHYIX has a 0.54% expense ratio, which is lower than SRHMX's 0.65% expense ratio.
Dividends
GHYIX vs. SRHMX - Dividend Comparison
GHYIX's dividend yield for the trailing twelve months is around 4.62%, which matches SRHMX's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYIX Goldman Sachs High Yield Municipal Fund Institutional Class | 4.62% | 6.12% | 4.38% | 3.56% | 3.04% | 3.06% | 3.44% | 4.03% | 4.12% | 4.36% | 4.81% | 4.88% |
SRHMX Columbia High Yield Municipal Fund | 4.61% | 5.65% | 4.79% | 4.30% | 4.46% | 3.40% | 3.83% | 4.55% | 5.10% | 4.30% | 4.56% | 4.55% |
Frequently Asked Questions
GHYIX and SRHMX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRHMX has higher volatility (0.95%) compared to GHYIX (0.90%). In terms of maximum drawdown, GHYIX dropped -35.88% vs SRHMX's -26.04%.
SRHMX currently has the higher Sharpe Ratio (2.62 vs 2.12), 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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