GIPIX vs. PASAX

Last updated Aug 1, 2026

GIPIX (Goldman Sachs Balanced Strategy Portfolio) and PASAX (PIMCO All Asset Fund Class A) are both Tactical Allocation funds. Over the past 10 years, GIPIX returned 5.79%/yr vs 6.21%/yr for PASAX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. GIPIX charges 0.19%/yr vs 2.24%/yr for PASAX.

Performance

GIPIX vs. PASAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Balanced Strategy Portfolio (GIPIX) and PIMCO All Asset Fund Class A (PASAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIPIX achieves a 4.38% return, which is significantly lower than PASAX's 9.33% return. Over the past 10 years, GIPIX has underperformed PASAX with an annualized return of 5.79%, while PASAX has yielded a comparatively higher 6.21% annualized return.

GIPIX

• 1D: 0.85%
• 1M: -0.76%
• 6M: 2.76%
• YTD: 4.38%
• 1Y: 11.25%
• 3Y*: 9.30%
• 5Y*: 4.13%
• 10Y*: 5.79%
• ALL TIME*: 5.19%

PASAX

• 1D: 0.00%
• 1M: 0.58%
• 6M: 5.90%
• YTD: 9.33%
• 1Y: 17.27%
• 3Y*: 8.89%
• 5Y*: 4.34%
• 10Y*: 6.21%
• ALL TIME*: 5.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GIPIX Goldman Sachs Balanced Strategy Portfolio	$0.00	$0.00	$0.00
PASAX PIMCO All Asset Fund Class A	$0.00	$0.00	$0.00

GIPIX vs. PASAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIPIX Goldman Sachs Balanced Strategy Portfolio	4.38%	10.80%	8.51%	12.49%	-14.43%	7.94%	11.09%	15.68%	-6.52%	11.63%
PASAX PIMCO All Asset Fund Class A	9.33%	12.85%	3.66%	7.66%	-11.90%	15.14%	7.93%	11.72%	-5.47%	13.50%

Correlation

The correlation between GIPIX and PASAX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Apr 30, 2003	0.67

The correlation between GIPIX and PASAX shifts across timeframes, from 0.67 (all time) to 0.79 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GIPIX vs. PASAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIPIX

GIPIX Risk / Return Rank: 62
GIPIX Sharpe Ratio Rank: 64
GIPIX Sortino Ratio Rank: 64
GIPIX Omega Ratio Rank: 65
GIPIX Calmar Ratio Rank: 55
GIPIX Martin Ratio Rank: 65

PASAX

PASAX Risk / Return Rank: 94
PASAX Sharpe Ratio Rank: 97
PASAX Sortino Ratio Rank: 96
PASAX Omega Ratio Rank: 93
PASAX Calmar Ratio Rank: 91
PASAX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GIPIX vs. PASAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Balanced Strategy Portfolio (GIPIX) and PIMCO All Asset Fund Class A (PASAX). 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.

	GIPIX	PASAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.86	-1.33
Sortino ratio: Return per unit of downside risk	2.20	4.11	-1.91
Omega ratio: Gain probability vs. loss probability	1.29	1.55	-0.26
Calmar ratio: Return relative to maximum drawdown	1.94	3.49	-1.54
Martin ratio: Return relative to average drawdown	8.16	13.83	-5.68

GIPIX vs. PASAX - Sharpe Ratio Comparison

The current GIPIX Sharpe Ratio is 1.54, which is lower than the PASAX Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of GIPIX and PASAX, 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

GIPIX vs. PASAX - Drawdown Comparison

The maximum GIPIX drawdown since its inception was -29.46%, which is greater than PASAX's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for GIPIX and PASAX.

Drawdown Indicators

	GIPIX	PASAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.46%	-27.81%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-4.88%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-9.11%	-7.65%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	-20.65%	-20.00%	-0.65%
Max Drawdown (10Y) Largest decline over 10 years	-20.65%	-22.70%	+2.05%
Current Drawdown Current decline from peak	-1.21%	-0.16%	-1.05%
Average Drawdown Average peak-to-trough decline	-3.67%	-4.06%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.23%	+0.09%

Volatility

GIPIX vs. PASAX - Volatility Comparison

Goldman Sachs Balanced Strategy Portfolio (GIPIX) has a higher volatility of 2.06% compared to PIMCO All Asset Fund Class A (PASAX) at 1.12%. This indicates that GIPIX's price experiences larger fluctuations and is considered to be riskier than PASAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIPIX	PASAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	1.12%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	4.74%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	7.07%	5.97%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.10%	7.71%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.12%	7.70%	+0.42%

GIPIX vs. PASAX - Expense Ratio Comparison

GIPIX has a 0.19% expense ratio, which is lower than PASAX's 2.24% expense ratio.

Dividends

GIPIX vs. PASAX - Dividend Comparison

GIPIX's dividend yield for the trailing twelve months is around 5.63%, less than PASAX's 7.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIPIX Goldman Sachs Balanced Strategy Portfolio	5.63%	5.22%	4.06%	2.12%	4.56%	6.37%	2.25%	2.51%	4.70%	4.51%	1.46%	5.73%
PASAX PIMCO All Asset Fund Class A	7.67%	6.80%	5.47%	2.81%	7.19%	11.47%	3.18%	2.90%	5.02%	4.07%	3.12%	3.36%

Frequently Asked Questions

Can I hold both GIPIX and PASAX in my portfolio?

GIPIX and PASAX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GIPIX or PASAX?

GIPIX has higher volatility (2.06%) compared to PASAX (1.12%). In terms of maximum drawdown, GIPIX dropped -29.46% vs PASAX's -27.81%.

Which has better risk-adjusted returns?

PASAX currently has the higher Sharpe Ratio (2.86 vs 1.54), 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.