GPPIX vs. PTSHX

Last updated Jun 23, 2026

GPPIX (Goldman Sachs Short-Term Conservative Income Fund) and PTSHX (PIMCO Short Term Fund) are both Ultrashort Bond funds. Over the past 10 years, GPPIX returned 2.55%/yr vs 3.00%/yr for PTSHX. At a 0.28 correlation, their price movements are largely independent. GPPIX charges 0.24%/yr vs 0.45%/yr for PTSHX.

Performance

GPPIX vs. PTSHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Short-Term Conservative Income Fund (GPPIX) and PIMCO Short Term Fund (PTSHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPPIX achieves a 1.56% return, which is significantly lower than PTSHX's 2.03% return. Over the past 10 years, GPPIX has underperformed PTSHX with an annualized return of 2.55%, while PTSHX has yielded a comparatively higher 3.00% annualized return.

GPPIX

• 1D: 0.00%
• 1M: 0.33%
• YTD: 1.56%
• 6M: 1.91%
• 1Y: 4.43%
• 3Y*: 4.76%
• 5Y*: 3.34%
• 10Y*: 2.55%

PTSHX

• 1D: 0.00%
• 1M: 0.46%
• YTD: 2.03%
• 6M: 2.42%
• 1Y: 5.09%
• 3Y*: 5.72%
• 5Y*: 3.71%
• 10Y*: 3.00%

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

GPPIX vs. PTSHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPPIX Goldman Sachs Short-Term Conservative Income Fund	1.56%	4.83%	5.21%	4.50%	0.73%	-0.00%	1.43%	3.05%	2.16%	1.44%
PTSHX PIMCO Short Term Fund	2.03%	4.88%	6.43%	6.09%	-0.55%	0.02%	2.75%	2.74%	1.51%	2.43%

Correlation

The correlation between GPPIX and PTSHX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.28

The correlation between GPPIX and PTSHX shifts across timeframes, from 0.21 (5 years) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GPPIX vs. PTSHX — Risk / Return Rank

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

GPPIX

GPPIX Risk / Return Rank: 99
GPPIX Sharpe Ratio Rank: 98
GPPIX Sortino Ratio Rank: 100
GPPIX Omega Ratio Rank: 99
GPPIX Calmar Ratio Rank: 99
GPPIX Martin Ratio Rank: 99

PTSHX

PTSHX Risk / Return Rank: 99
PTSHX Sharpe Ratio Rank: 98
PTSHX Sortino Ratio Rank: 100
PTSHX Omega Ratio Rank: 99
PTSHX Calmar Ratio Rank: 100
PTSHX Martin Ratio Rank: 100

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.

GPPIX vs. PTSHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Short-Term Conservative Income Fund (GPPIX) and PIMCO Short Term Fund (PTSHX). 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.

	GPPIX	PTSHX	Difference
Sharpe ratio: Return per unit of total volatility	3.45	3.47	-0.02
Sortino ratio: Return per unit of downside risk	11.79	11.49	+0.30
Omega ratio: Gain probability vs. loss probability	4.14	3.78	+0.36
Calmar ratio: Return relative to maximum drawdown	15.07	24.33	-9.26
Martin ratio: Return relative to average drawdown	68.46	79.33	-10.87

GPPIX vs. PTSHX - Sharpe Ratio Comparison

The current GPPIX Sharpe Ratio is 3.45, which is comparable to the PTSHX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of GPPIX and PTSHX, 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

GPPIX vs. PTSHX - Drawdown Comparison

The maximum GPPIX drawdown since its inception was -3.08%, smaller than the maximum PTSHX drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for GPPIX and PTSHX.

Drawdown Indicators

	GPPIX	PTSHX	Difference
Max Drawdown Largest peak-to-trough decline	-3.08%	-5.12%	+2.04%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	-0.21%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-0.40%	-0.41%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-0.77%	-2.33%	+1.56%
Max Drawdown (10Y) Largest decline over 10 years	-3.08%	-4.79%	+1.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.19%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.07%	-0.01%

Volatility

GPPIX vs. PTSHX - Volatility Comparison

The current volatility for Goldman Sachs Short-Term Conservative Income Fund (GPPIX) is 0.33%, while PIMCO Short Term Fund (PTSHX) has a volatility of 0.42%. This indicates that GPPIX experiences smaller price fluctuations and is considered to be less risky than PTSHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPPIX	PTSHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	0.42%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	0.84%	0.97%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	1.30%	1.45%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.25%	1.40%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.07%	1.35%	-0.28%

GPPIX vs. PTSHX - Expense Ratio Comparison

GPPIX has a 0.24% expense ratio, which is lower than PTSHX's 0.45% expense ratio.

Dividends

GPPIX vs. PTSHX - Dividend Comparison

GPPIX's dividend yield for the trailing twelve months is around 4.23%, less than PTSHX's 4.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPPIX Goldman Sachs Short-Term Conservative Income Fund	4.23%	4.51%	4.77%	3.68%	1.22%	0.30%	1.12%	2.61%	2.24%	1.33%	0.94%	0.49%
PTSHX PIMCO Short Term Fund	4.43%	4.75%	5.16%	4.51%	2.80%	0.63%	1.78%	2.92%	2.65%	1.69%	1.67%	1.57%

Frequently Asked Questions

Can I hold both GPPIX and PTSHX in my portfolio?

GPPIX and PTSHX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPPIX or PTSHX?

PTSHX has higher volatility (0.42%) compared to GPPIX (0.33%). In terms of maximum drawdown, GPPIX dropped -3.08% vs PTSHX's -5.12%.

Which has better risk-adjusted returns?

PTSHX currently has the higher Sharpe Ratio (3.47 vs 3.45), 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.