GMSAX vs. GFIRX
Compare and contrast key facts about Goldman Sachs Managed Futures Strategy Fund Class A (GMSAX) and Goldman Sachs Managed Futures Strategy Fund (GFIRX).
GMSAX is managed by Goldman Sachs. It was launched on Feb 29, 2012. GFIRX is managed by Goldman Sachs. It was launched on Feb 28, 2012.
Performance
GMSAX vs. GFIRX - Performance Comparison
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GMSAX vs. GFIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GMSAX Goldman Sachs Managed Futures Strategy Fund Class A | 0.34% | 0.22% | -5.31% | -4.18% | 20.08% | 4.68% | 6.64% | 2.29% | -2.37% | 2.29% |
GFIRX Goldman Sachs Managed Futures Strategy Fund | 0.33% | 0.54% | -5.17% | -3.87% | 20.44% | 4.86% | 6.94% | 2.61% | -2.24% | 2.56% |
Returns By Period
The year-to-date returns for both stocks are quite close, with GMSAX having a 0.34% return and GFIRX slightly lower at 0.33%. Over the past 10 years, GMSAX has underperformed GFIRX with an annualized return of 2.09%, while GFIRX has yielded a comparatively higher 2.34% annualized return.
GMSAX
- 1D
- 0.22%
- 1M
- -1.75%
- YTD
- 0.34%
- 6M
- 3.11%
- 1Y
- 8.34%
- 3Y*
- -0.48%
- 5Y*
- 2.20%
- 10Y*
- 2.09%
GFIRX
- 1D
- 0.11%
- 1M
- -1.80%
- YTD
- 0.33%
- 6M
- 3.12%
- 1Y
- 8.56%
- 3Y*
- -0.25%
- 5Y*
- 2.45%
- 10Y*
- 2.34%
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GMSAX vs. GFIRX - Expense Ratio Comparison
GMSAX has a 1.54% expense ratio, which is higher than GFIRX's 1.33% expense ratio.
Return for Risk
GMSAX vs. GFIRX — Risk / Return Rank
GMSAX
GFIRX
GMSAX vs. GFIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Managed Futures Strategy Fund Class A (GMSAX) and Goldman Sachs Managed Futures Strategy Fund (GFIRX). 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.
| GMSAX | GFIRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.92 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.30 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.37 | -0.06 |
Martin ratioReturn relative to average drawdown | 4.02 | 4.20 | -0.18 |
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
| GMSAX | GFIRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.92 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.24 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.26 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.23 | -0.03 |
Correlation
The correlation between GMSAX and GFIRX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GMSAX vs. GFIRX - Dividend Comparison
Neither GMSAX nor GFIRX has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMSAX Goldman Sachs Managed Futures Strategy Fund Class A | 0.00% | 0.00% | 0.00% | 0.00% | 20.24% | 7.31% | 1.24% | 6.90% | 0.16% | 0.49% | 0.00% | 3.88% |
GFIRX Goldman Sachs Managed Futures Strategy Fund | 0.00% | 0.00% | 0.00% | 0.00% | 20.11% | 7.35% | 1.21% | 7.06% | 0.16% | 0.49% | 0.00% | 3.98% |
Drawdowns
GMSAX vs. GFIRX - Drawdown Comparison
The maximum GMSAX drawdown since its inception was -23.58%, roughly equal to the maximum GFIRX drawdown of -23.09%. Use the drawdown chart below to compare losses from any high point for GMSAX and GFIRX.
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Drawdown Indicators
| GMSAX | GFIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.58% | -23.09% | -0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.19% | -5.15% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -23.58% | -23.09% | -0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -23.58% | -23.09% | -0.49% |
Current DrawdownCurrent decline from peak | -12.88% | -12.19% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -7.23% | -7.00% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.83% | +0.02% |
Volatility
GMSAX vs. GFIRX - Volatility Comparison
Goldman Sachs Managed Futures Strategy Fund Class A (GMSAX) and Goldman Sachs Managed Futures Strategy Fund (GFIRX) have volatilities of 2.78% and 2.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMSAX | GFIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 2.79% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.27% | 6.23% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.90% | 8.79% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.38% | 10.37% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.05% | 9.04% | +0.01% |