GSAWX vs. SCFZX

Last updated Jun 5, 2026

GSAWX (Goldman Sachs Long Short Credit Strategies Fund) and SCFZX (PGIM Securitized Credit Fund) are both Nontraditional Bonds funds. Over the past 5 years, GSAWX returned 3.40%/yr vs 5.28%/yr for SCFZX. At a 0.27 correlation, their price movements are largely independent. GSAWX charges 1.12%/yr vs 0.65%/yr for SCFZX.

Performance

GSAWX vs. SCFZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Long Short Credit Strategies Fund (GSAWX) and PGIM Securitized Credit Fund (SCFZX). 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 SCFZX's 2.28% 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%

SCFZX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 2.28%
• 6M: 2.84%
• 1Y: 6.11%
• 3Y*: 7.69%
• 5Y*: 5.28%
• 10Y*: —

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

GSAWX vs. SCFZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GSAWX Goldman Sachs Long Short Credit Strategies Fund	1.45%	7.11%	5.35%	9.90%	-8.40%	3.79%	6.67%	2.68%
SCFZX PGIM Securitized Credit Fund	2.28%	5.75%	9.41%	8.67%	-0.84%	5.27%	-0.33%	1.73%

Correlation

The correlation between GSAWX and SCFZX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jul 2, 2019	0.27

Return for Risk

GSAWX vs. SCFZX — 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

SCFZX

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

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. SCFZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Long Short Credit Strategies Fund (GSAWX) and PGIM Securitized Credit Fund (SCFZX). 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	SCFZX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	4.09	-2.14
Sortino ratio: Return per unit of downside risk	3.66	17.53	-13.87
Omega ratio: Gain probability vs. loss probability	1.49	6.28	-4.78
Calmar ratio: Return relative to maximum drawdown	2.96	20.02	-17.06
Martin ratio: Return relative to average drawdown	13.98	69.95	-55.97
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. SCFZX - Sharpe Ratio Comparison

The current GSAWX Sharpe Ratio is 1.95, which is lower than the SCFZX Sharpe Ratio of 4.09. The chart below compares the historical Sharpe Ratios of GSAWX and SCFZX, 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	SCFZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	4.09	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	2.78	-1.92
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	1.37	-0.90

Drawdowns

GSAWX vs. SCFZX - Drawdown Comparison

The maximum GSAWX drawdown since its inception was -16.52%, roughly equal to the maximum SCFZX drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for GSAWX and SCFZX.

Drawdown Indicators

	GSAWX	SCFZX	Difference
Max Drawdown Largest peak-to-trough decline	-16.52%	-17.20%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-1.92%	-0.31%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-3.13%	-0.93%	-2.20%
Max Drawdown (5Y) Largest decline over 5 years	-12.23%	-4.13%	-8.10%
Max Drawdown (10Y) Largest decline over 10 years	-16.52%	—	—
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-2.79%	-1.06%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.09%	+0.31%

Volatility

GSAWX vs. SCFZX - Volatility Comparison

Goldman Sachs Long Short Credit Strategies Fund (GSAWX) has a higher volatility of 0.80% compared to PGIM Securitized Credit Fund (SCFZX) at 0.42%. This indicates that GSAWX's price experiences larger fluctuations and is considered to be riskier than SCFZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSAWX	SCFZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.42%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	2.26%	1.03%	+1.23%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	1.50%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	1.91%	+2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.25%	3.34%	+0.91%

GSAWX vs. SCFZX - Expense Ratio Comparison

GSAWX has a 1.12% expense ratio, which is higher than SCFZX's 0.65% expense ratio.

Dividends

GSAWX vs. SCFZX - Dividend Comparison

GSAWX's dividend yield for the trailing twelve months is around 6.01%, more than SCFZX's 5.08% 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%
SCFZX PGIM Securitized Credit Fund	5.08%	5.25%	6.55%	5.58%	4.97%	2.56%	3.08%	2.43%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSAWX and SCFZX in my portfolio?

GSAWX and SCFZX have a correlation of 0.23, 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 SCFZX?

GSAWX has higher volatility (0.80%) compared to SCFZX (0.42%). In terms of maximum drawdown, GSAWX dropped -16.52% vs SCFZX's -17.20%.

Which has better risk-adjusted returns?

SCFZX currently has the higher Sharpe Ratio (4.09 vs 1.95), 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.