GSBFX vs. GUIRX

Last updated Jun 24, 2026

GSBFX (Goldman Sachs Income Builder Fund) and GUIRX (Goldman Sachs Dynamic Municipal Income Fund Investor Class) are both mutual funds - GSBFX is a Diversified Portfolio fund managed by Goldman Sachs, while GUIRX is a Municipal Bonds fund actively managed by Goldman Sachs. Over the past 10 years, GSBFX returned 7.21%/yr vs 2.66%/yr for GUIRX. At a 0.05 correlation, their price movements are largely independent. GSBFX charges 0.79%/yr vs 0.47%/yr for GUIRX.

Performance

GSBFX vs. GUIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Income Builder Fund (GSBFX) and Goldman Sachs Dynamic Municipal Income Fund Investor Class (GUIRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSBFX achieves a 5.76% return, which is significantly higher than GUIRX's 1.83% return. Over the past 10 years, GSBFX has outperformed GUIRX with an annualized return of 7.21%, while GUIRX has yielded a comparatively lower 2.66% annualized return.

GSBFX

• 1D: 0.07%
• 1M: 1.57%
• YTD: 5.76%
• 6M: 5.61%
• 1Y: 13.28%
• 3Y*: 11.01%
• 5Y*: 5.72%
• 10Y*: 7.21%

GUIRX

• 1D: 0.00%
• 1M: 1.44%
• YTD: 1.83%
• 6M: 2.29%
• 1Y: 6.21%
• 3Y*: 4.61%
• 5Y*: 1.33%
• 10Y*: 2.66%

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

GSBFX vs. GUIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSBFX Goldman Sachs Income Builder Fund	5.76%	10.42%	9.32%	9.64%	-9.53%	10.50%	9.53%	19.38%	-4.92%	7.94%
GUIRX Goldman Sachs Dynamic Municipal Income Fund Investor Class	1.83%	4.73%	3.66%	6.37%	-9.66%	3.11%	3.86%	7.80%	3.09%	5.81%

Correlation

The correlation between GSBFX and GUIRX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011	0.05

Over the past year, GSBFX and GUIRX have become more correlated (0.33) than their long-term average of 0.05, meaning their price movements have been converging.

Return for Risk

GSBFX vs. GUIRX — Risk / Return Rank

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

GSBFX

GSBFX Risk / Return Rank: 77
GSBFX Sharpe Ratio Rank: 80
GSBFX Sortino Ratio Rank: 80
GSBFX Omega Ratio Rank: 77
GSBFX Calmar Ratio Rank: 72
GSBFX Martin Ratio Rank: 77

GUIRX

GUIRX Risk / Return Rank: 74
GUIRX Sharpe Ratio Rank: 87
GUIRX Sortino Ratio Rank: 93
GUIRX Omega Ratio Rank: 93
GUIRX Calmar Ratio Rank: 50
GUIRX Martin Ratio Rank: 45

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.

GSBFX vs. GUIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Income Builder Fund (GSBFX) and Goldman Sachs Dynamic Municipal Income Fund Investor Class (GUIRX). 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.

	GSBFX	GUIRX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.62	-0.20
Sortino ratio: Return per unit of downside risk	3.48	4.37	-0.89
Omega ratio: Gain probability vs. loss probability	1.45	1.68	-0.22
Calmar ratio: Return relative to maximum drawdown	3.12	2.57	+0.55
Martin ratio: Return relative to average drawdown	13.53	8.99	+4.54

GSBFX vs. GUIRX - Sharpe Ratio Comparison

The current GSBFX Sharpe Ratio is 2.43, which is comparable to the GUIRX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of GSBFX and GUIRX, 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

GSBFX vs. GUIRX - Drawdown Comparison

The maximum GSBFX drawdown since its inception was -37.04%, which is greater than GUIRX's maximum drawdown of -14.21%. Use the drawdown chart below to compare losses from any high point for GSBFX and GUIRX.

Drawdown Indicators

	GSBFX	GUIRX	Difference
Max Drawdown Largest peak-to-trough decline	-37.04%	-14.21%	-22.83%
Max Drawdown (1Y) Largest decline over 1 year	-4.44%	-2.46%	-1.98%
Max Drawdown (3Y) Largest decline over 3 years	-8.14%	-5.33%	-2.81%
Max Drawdown (5Y) Largest decline over 5 years	-15.94%	-14.16%	-1.78%
Max Drawdown (10Y) Largest decline over 10 years	-23.42%	-14.21%	-9.21%
Current Drawdown Current decline from peak	-0.18%	-0.09%	-0.09%
Average Drawdown Average peak-to-trough decline	-4.17%	-2.12%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	0.70%	+0.32%

Volatility

GSBFX vs. GUIRX - Volatility Comparison

Goldman Sachs Income Builder Fund (GSBFX) has a higher volatility of 1.96% compared to Goldman Sachs Dynamic Municipal Income Fund Investor Class (GUIRX) at 0.66%. This indicates that GSBFX's price experiences larger fluctuations and is considered to be riskier than GUIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSBFX	GUIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.96%	0.66%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	4.66%	1.81%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	5.73%	2.42%	+3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.44%	3.71%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.00%	3.94%	+4.06%

GSBFX vs. GUIRX - Expense Ratio Comparison

GSBFX has a 0.79% expense ratio, which is higher than GUIRX's 0.47% expense ratio.

Dividends

GSBFX vs. GUIRX - Dividend Comparison

GSBFX's dividend yield for the trailing twelve months is around 5.06%, more than GUIRX's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSBFX Goldman Sachs Income Builder Fund	5.06%	4.39%	5.12%	3.41%	4.10%	6.66%	3.05%	3.52%	3.98%	3.52%	3.78%	3.93%
GUIRX Goldman Sachs Dynamic Municipal Income Fund Investor Class	3.74%	4.90%	3.86%	2.78%	2.06%	2.16%	2.38%	2.84%	3.04%	3.23%	3.60%	3.68%

Frequently Asked Questions

Can I hold both GSBFX and GUIRX in my portfolio?

GSBFX and GUIRX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSBFX or GUIRX?

GSBFX has higher volatility (1.96%) compared to GUIRX (0.66%). In terms of maximum drawdown, GSBFX dropped -37.04% vs GUIRX's -14.21%.

Which has better risk-adjusted returns?

GUIRX currently has the higher Sharpe Ratio (2.62 vs 2.43), 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.