GSAWX vs. DFLEX
GSAWX (Goldman Sachs Long Short Credit Strategies Fund) and DFLEX (DoubleLine Flexible Income Fund) are both Nontraditional Bonds funds. Over the past 10 years, GSAWX returned 3.13%/yr vs 3.73%/yr for DFLEX. At a 0.34 correlation, their price movements are largely independent. GSAWX charges 1.12%/yr vs 0.74%/yr for DFLEX.
Performance
GSAWX vs. DFLEX - Performance Comparison
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Returns By Period
In the year-to-date period, GSAWX achieves a 1.19% return, which is significantly lower than DFLEX's 1.72% return. Over the past 10 years, GSAWX has underperformed DFLEX with an annualized return of 3.13%, while DFLEX has yielded a comparatively higher 3.73% annualized return.
GSAWX
- 1D
- -0.13%
- 1M
- 0.11%
- YTD
- 1.19%
- 6M
- 1.84%
- 1Y
- 4.70%
- 3Y*
- 7.06%
- 5Y*
- 3.28%
- 10Y*
- 3.13%
DFLEX
- 1D
- 0.11%
- 1M
- 0.34%
- YTD
- 1.72%
- 6M
- 1.83%
- 1Y
- 5.05%
- 3Y*
- 7.36%
- 5Y*
- 3.19%
- 10Y*
- 3.73%
GSAWX vs. DFLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSAWX Goldman Sachs Long Short Credit Strategies Fund | 1.19% | 7.11% | 5.35% | 9.90% | -8.40% | 3.79% | 6.67% | 8.12% | -3.27% | 0.83% |
DFLEX DoubleLine Flexible Income Fund | 1.72% | 6.58% | 8.65% | 7.84% | -8.48% | 3.79% | 2.93% | 7.21% | 0.10% | 5.27% |
Correlation
The correlation between GSAWX and DFLEX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2014 | 0.34 |
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Return for Risk
GSAWX vs. DFLEX — Risk / Return Rank
GSAWX
DFLEX
GSAWX vs. DFLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Long Short Credit Strategies Fund (GSAWX) and DoubleLine Flexible Income Fund (DFLEX). 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.
| GSAWX | DFLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 2.09 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 5.70 | -3.23 |
| Martin ratioReturn relative to average drawdown | 11.47 | 25.43 | -13.96 |
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Drawdowns
GSAWX vs. DFLEX - Drawdown Comparison
The maximum GSAWX drawdown since its inception was -16.52%, roughly equal to the maximum DFLEX drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for GSAWX and DFLEX.
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Drawdown Indicators
| GSAWX | DFLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.52% | -17.29% | +0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -0.91% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -3.13% | -1.15% | -1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -12.23% | -11.00% | -1.23% |
Max Drawdown (10Y)Largest decline over 10 years | -16.52% | -17.29% | +0.77% |
Current DrawdownCurrent decline from peak | -0.51% | -0.11% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -1.55% | -1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.20% | +0.21% |
Volatility
GSAWX vs. DFLEX - Volatility Comparison
Goldman Sachs Long Short Credit Strategies Fund (GSAWX) has a higher volatility of 0.88% compared to DoubleLine Flexible Income Fund (DFLEX) at 0.57%. This indicates that GSAWX's price experiences larger fluctuations and is considered to be riskier than DFLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSAWX | DFLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 0.57% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 1.09% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 1.37% | +1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.01% | 1.94% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 2.73% | +1.52% |
GSAWX vs. DFLEX - Expense Ratio Comparison
GSAWX has a 1.12% expense ratio, which is higher than DFLEX's 0.74% expense ratio.
Dividends
GSAWX vs. DFLEX - Dividend Comparison
GSAWX's dividend yield for the trailing twelve months is around 6.03%, more than DFLEX's 5.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFLEX DoubleLine Flexible Income Fund | 5.53% | 5.68% | 6.05% | 5.95% | 4.72% | 3.86% | 3.96% | 4.46% | 4.46% | 3.82% | 3.75% | 4.32% |
GSAWX Goldman Sachs Long Short Credit Strategies Fund | 6.03% | 6.09% | 5.21% | 5.49% | 6.27% | 4.98% | 3.51% | 4.67% | 6.43% | 2.37% | 3.85% | 3.81% |
Frequently Asked Questions
GSAWX and DFLEX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSAWX has higher volatility (0.88%) compared to DFLEX (0.57%). In terms of maximum drawdown, GSAWX dropped -16.52% vs DFLEX's -17.29%.
DFLEX currently has the higher Sharpe Ratio (3.79 vs 1.62), 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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