GIMMX vs. GSPKX

Last updated Jun 23, 2026

GIMMX (Goldman Sachs Multi-Manager Alternatives Fund) and GSPKX (Goldman Sachs U.S. Equity Dividend and Premium Fund) are both mutual funds - GIMMX is a Multistrategy fund managed by Goldman Sachs, while GSPKX is a Large Cap Blend Equities fund managed by Goldman Sachs. Over the past 10 years, GIMMX returned 3.33%/yr vs 13.09%/yr for GSPKX. A 0.58 correlation means they provide meaningful diversification when combined. GIMMX charges 1.93%/yr vs 0.71%/yr for GSPKX.

Performance

GIMMX vs. GSPKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Multi-Manager Alternatives Fund (GIMMX) and Goldman Sachs U.S. Equity Dividend and Premium Fund (GSPKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIMMX achieves a 6.56% return, which is significantly lower than GSPKX's 10.12% return. Over the past 10 years, GIMMX has underperformed GSPKX with an annualized return of 3.33%, while GSPKX has yielded a comparatively higher 13.09% annualized return.

GIMMX

• 1D: 0.35%
• 1M: -0.43%
• YTD: 6.56%
• 6M: 6.26%
• 1Y: 17.13%
• 3Y*: 6.51%
• 5Y*: 3.42%
• 10Y*: 3.33%

GSPKX

• 1D: 0.96%
• 1M: 1.12%
• YTD: 10.12%
• 6M: 9.88%
• 1Y: 24.30%
• 3Y*: 19.91%
• 5Y*: 13.19%
• 10Y*: 13.09%

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

GIMMX vs. GSPKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIMMX Goldman Sachs Multi-Manager Alternatives Fund	6.56%	15.44%	-4.85%	2.78%	-4.72%	6.14%	6.45%	7.60%	-3.51%	-0.19%
GSPKX Goldman Sachs U.S. Equity Dividend and Premium Fund	10.12%	13.60%	29.55%	21.39%	-15.20%	22.79%	14.15%	25.11%	-6.29%	15.32%

Correlation

The correlation between GIMMX and GSPKX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.58

Over the past year, GIMMX and GSPKX have become more correlated (0.80) than their long-term average of 0.58, meaning their price movements have been converging.

Return for Risk

GIMMX vs. GSPKX — Risk / Return Rank

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

GIMMX

GIMMX Risk / Return Rank: 67
GIMMX Sharpe Ratio Rank: 56
GIMMX Sortino Ratio Rank: 54
GIMMX Omega Ratio Rank: 63
GIMMX Calmar Ratio Rank: 88
GIMMX Martin Ratio Rank: 73

GSPKX

GSPKX Risk / Return Rank: 77
GSPKX Sharpe Ratio Rank: 78
GSPKX Sortino Ratio Rank: 74
GSPKX Omega Ratio Rank: 76
GSPKX Calmar Ratio Rank: 71
GSPKX Martin Ratio Rank: 87

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.

GIMMX vs. GSPKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Multi-Manager Alternatives Fund (GIMMX) and Goldman Sachs U.S. Equity Dividend and Premium Fund (GSPKX). 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.

	GIMMX	GSPKX	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.38	-0.35
Sortino ratio: Return per unit of downside risk	2.85	3.27	-0.42
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	4.08	3.10	+0.98
Martin ratio: Return relative to average drawdown	12.91	15.48	-2.57

GIMMX vs. GSPKX - Sharpe Ratio Comparison

The current GIMMX Sharpe Ratio is 2.02, which is comparable to the GSPKX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of GIMMX and GSPKX, 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

GIMMX vs. GSPKX - Drawdown Comparison

The maximum GIMMX drawdown since its inception was -12.67%, smaller than the maximum GSPKX drawdown of -51.90%. Use the drawdown chart below to compare losses from any high point for GIMMX and GSPKX.

Drawdown Indicators

	GIMMX	GSPKX	Difference
Max Drawdown Largest peak-to-trough decline	-12.67%	-51.90%	+39.23%
Max Drawdown (1Y) Largest decline over 1 year	-4.18%	-7.83%	+3.65%
Max Drawdown (3Y) Largest decline over 3 years	-10.74%	-20.51%	+9.77%
Max Drawdown (5Y) Largest decline over 5 years	-12.67%	-22.34%	+9.67%
Max Drawdown (10Y) Largest decline over 10 years	-12.67%	-32.70%	+20.03%
Current Drawdown Current decline from peak	-1.20%	-0.30%	-0.90%
Average Drawdown Average peak-to-trough decline	-4.17%	-5.98%	+1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.56%	-0.24%

Volatility

GIMMX vs. GSPKX - Volatility Comparison

The current volatility for Goldman Sachs Multi-Manager Alternatives Fund (GIMMX) is 1.62%, while Goldman Sachs U.S. Equity Dividend and Premium Fund (GSPKX) has a volatility of 3.52%. This indicates that GIMMX experiences smaller price fluctuations and is considered to be less risky than GSPKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIMMX	GSPKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	3.52%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	5.79%	8.34%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	8.43%	10.22%	-1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.86%	16.05%	-10.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.48%	16.92%	-11.44%

GIMMX vs. GSPKX - Expense Ratio Comparison

GIMMX has a 1.93% expense ratio, which is higher than GSPKX's 0.71% expense ratio.

Dividends

GIMMX vs. GSPKX - Dividend Comparison

GIMMX's dividend yield for the trailing twelve months is around 7.86%, more than GSPKX's 6.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIMMX Goldman Sachs Multi-Manager Alternatives Fund	7.86%	8.38%	5.08%	3.43%	0.42%	0.00%	0.00%	0.97%	0.00%	0.00%	1.83%	0.72%
GSPKX Goldman Sachs U.S. Equity Dividend and Premium Fund	6.00%	6.32%	12.77%	6.48%	6.33%	6.01%	7.19%	6.86%	7.95%	6.13%	5.63%	6.29%

Frequently Asked Questions

Can I hold both GIMMX and GSPKX in my portfolio?

GIMMX and GSPKX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIMMX or GSPKX?

GSPKX has higher volatility (3.52%) compared to GIMMX (1.62%). In terms of maximum drawdown, GIMMX dropped -12.67% vs GSPKX's -51.90%.

Which has better risk-adjusted returns?

GSPKX currently has the higher Sharpe Ratio (2.38 vs 2.02), 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.