GSAWX vs. GSIMX

Last updated Jun 5, 2026

GSAWX (Goldman Sachs Long Short Credit Strategies Fund) and GSIMX (Goldman Sachs GQG Partners International Opportunities Fund) are both mutual funds - GSAWX is a Nontraditional Bonds fund managed by Goldman Sachs, while GSIMX is a Foreign Large Cap Equities fund managed by Goldman Sachs. Over the past 5 years, GSAWX returned 3.40%/yr vs 8.60%/yr for GSIMX. At a 0.23 correlation, their price movements are largely independent. GSAWX charges 1.12%/yr vs 0.76%/yr for GSIMX.

Performance

GSAWX vs. GSIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Long Short Credit Strategies Fund (GSAWX) and Goldman Sachs GQG Partners International Opportunities Fund (GSIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSAWX achieves a 1.45% return, which is significantly lower than GSIMX's 5.38% return.

GSAWX

• 1D: -0.25%
• 1M: 0.23%
• YTD: 1.45%
• 6M: 1.71%
• 1Y: 5.49%
• 3Y*: 7.15%
• 5Y*: 3.40%
• 10Y*: 3.11%

GSIMX

• 1D: -1.00%
• 1M: -1.91%
• YTD: 5.38%
• 6M: 7.01%
• 1Y: 11.66%
• 3Y*: 16.77%
• 5Y*: 8.60%
• 10Y*: —

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

GSAWX vs. GSIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSAWX Goldman Sachs Long Short Credit Strategies Fund	1.45%	7.11%	5.35%	9.90%	-8.40%	3.79%	6.67%	8.12%	-3.27%	0.72%
GSIMX Goldman Sachs GQG Partners International Opportunities Fund	5.38%	20.85%	9.66%	22.10%	-11.06%	12.50%	15.77%	27.64%	-6.04%	29.92%

Correlation

The correlation between GSAWX and GSIMX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.23

The correlation between GSAWX and GSIMX shifts across timeframes, from 0.23 (all time) to 0.34 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

GSAWX vs. GSIMX — Risk / Return Rank

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

GSAWX

GSAWX Risk / Return Rank: 68
GSAWX Sharpe Ratio Rank: 47
GSAWX Sortino Ratio Rank: 77
GSAWX Omega Ratio Rank: 77
GSAWX Calmar Ratio Rank: 63
GSAWX Martin Ratio Rank: 77

GSIMX

GSIMX Risk / Return Rank: 18
GSIMX Sharpe Ratio Rank: 18
GSIMX Sortino Ratio Rank: 16
GSIMX Omega Ratio Rank: 18
GSIMX Calmar Ratio Rank: 18
GSIMX Martin Ratio Rank: 18

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.

GSAWX vs. GSIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Long Short Credit Strategies Fund (GSAWX) and Goldman Sachs GQG Partners International Opportunities Fund (GSIMX). 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.

	GSAWX	GSIMX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.21	+0.74
Sortino ratio: Return per unit of downside risk	3.66	1.70	+1.96
Omega ratio: Gain probability vs. loss probability	1.49	1.22	+0.27
Calmar ratio: Return relative to maximum drawdown	2.96	1.49	+1.46
Martin ratio: Return relative to average drawdown	13.98	4.95	+9.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSAWX vs. GSIMX - Sharpe Ratio Comparison

The current GSAWX Sharpe Ratio is 1.95, which is higher than the GSIMX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GSAWX and GSIMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSAWX	GSIMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.21	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.60	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.81	-0.34

Drawdowns

GSAWX vs. GSIMX - Drawdown Comparison

The maximum GSAWX drawdown since its inception was -16.52%, smaller than the maximum GSIMX drawdown of -28.84%. Use the drawdown chart below to compare losses from any high point for GSAWX and GSIMX.

Drawdown Indicators

	GSAWX	GSIMX	Difference
Max Drawdown Largest peak-to-trough decline	-16.52%	-28.84%	+12.32%
Max Drawdown (1Y) Largest decline over 1 year	-1.92%	-7.81%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-3.13%	-10.32%	+7.19%
Max Drawdown (5Y) Largest decline over 5 years	-12.23%	-25.37%	+13.14%
Max Drawdown (10Y) Largest decline over 10 years	-16.52%	—	—
Current Drawdown Current decline from peak	-0.25%	-4.67%	+4.42%
Average Drawdown Average peak-to-trough decline	-2.79%	-4.82%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	2.35%	-1.95%

Volatility

GSAWX vs. GSIMX - Volatility Comparison

The current volatility for Goldman Sachs Long Short Credit Strategies Fund (GSAWX) is 0.80%, while Goldman Sachs GQG Partners International Opportunities Fund (GSIMX) has a volatility of 2.93%. This indicates that GSAWX experiences smaller price fluctuations and is considered to be less risky than GSIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSAWX	GSIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	2.93%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	2.26%	7.95%	-5.69%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	9.69%	-6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	14.36%	-10.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.25%	15.69%	-11.44%

GSAWX vs. GSIMX - Expense Ratio Comparison

GSAWX has a 1.12% expense ratio, which is higher than GSIMX's 0.76% expense ratio.

Dividends

GSAWX vs. GSIMX - Dividend Comparison

GSAWX's dividend yield for the trailing twelve months is around 6.01%, more than GSIMX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSAWX Goldman Sachs Long Short Credit Strategies Fund	6.01%	6.09%	5.21%	5.49%	6.27%	4.98%	3.51%	4.67%	6.43%	2.37%	3.85%	3.81%
GSIMX Goldman Sachs GQG Partners International Opportunities Fund	4.86%	5.12%	11.18%	2.36%	4.89%	2.23%	0.18%	0.65%	0.53%	0.16%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSAWX and GSIMX in my portfolio?

GSAWX and GSIMX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSAWX or GSIMX?

GSIMX has higher volatility (2.93%) compared to GSAWX (0.80%). In terms of maximum drawdown, GSAWX dropped -16.52% vs GSIMX's -28.84%.

Which has better risk-adjusted returns?

GSAWX currently has the higher Sharpe Ratio (1.95 vs 1.21), 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.