GSGDX vs. VICBX

Last updated Jun 3, 2026

GSGDX (Goldman Sachs Investment Grade Credit Fund) and VICBX (Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 10 years, GSGDX returned 2.79%/yr vs 3.21%/yr for VICBX. Their correlation of 0.90 suggests significant overlap in exposure. GSGDX charges 0.38%/yr vs 0.05%/yr for VICBX.

Performance

GSGDX vs. VICBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Investment Grade Credit Fund (GSGDX) and Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSGDX achieves a 0.53% return, which is significantly higher than VICBX's 0.39% return. Over the past 10 years, GSGDX has underperformed VICBX with an annualized return of 2.79%, while VICBX has yielded a comparatively higher 3.21% annualized return.

GSGDX

• 1D: -0.12%
• 1M: 0.53%
• YTD: 0.53%
• 6M: 0.56%
• 1Y: 6.50%
• 3Y*: 5.14%
• 5Y*: 0.40%
• 10Y*: 2.79%

VICBX

• 1D: -0.10%
• 1M: 0.27%
• YTD: 0.39%
• 6M: 0.50%
• 1Y: 6.51%
• 3Y*: 6.25%
• 5Y*: 1.36%
• 10Y*: 3.21%

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

GSGDX vs. VICBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSGDX Goldman Sachs Investment Grade Credit Fund	0.53%	8.23%	1.93%	8.81%	-17.33%	-0.97%	10.12%	16.83%	-2.55%	6.49%
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares	0.39%	9.37%	3.67%	8.87%	-14.06%	-1.50%	9.57%	15.96%	-1.72%	5.50%

Correlation

The correlation between GSGDX and VICBX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009	0.90

The correlation between GSGDX and VICBX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

GSGDX vs. VICBX — Risk / Return Rank

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

GSGDX

GSGDX Risk / Return Rank: 25
GSGDX Sharpe Ratio Rank: 23
GSGDX Sortino Ratio Rank: 24
GSGDX Omega Ratio Rank: 22
GSGDX Calmar Ratio Rank: 29
GSGDX Martin Ratio Rank: 29

VICBX

VICBX Risk / Return Rank: 32
VICBX Sharpe Ratio Rank: 31
VICBX Sortino Ratio Rank: 32
VICBX Omega Ratio Rank: 29
VICBX Calmar Ratio Rank: 34
VICBX Martin Ratio Rank: 32

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.

GSGDX vs. VICBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Investment Grade Credit Fund (GSGDX) and Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX). 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.

	GSGDX	VICBX	Difference
Sharpe ratio Return per unit of total volatility	1.40	1.61	-0.22
Sortino ratio Return per unit of downside risk	2.07	2.37	-0.30
Omega ratio Gain probability vs. loss probability	1.25	1.29	-0.04
Calmar ratio Return relative to maximum drawdown	2.05	2.22	-0.18
Martin ratio Return relative to average drawdown	6.99	7.49	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSGDX vs. VICBX - Sharpe Ratio Comparison

The current GSGDX Sharpe Ratio is 1.40, which is comparable to the VICBX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of GSGDX and VICBX, 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

	GSGDX	VICBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.61	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.22	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.60	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.88	-0.22

Drawdowns

GSGDX vs. VICBX - Drawdown Comparison

The maximum GSGDX drawdown since its inception was -23.48%, which is greater than VICBX's maximum drawdown of -20.55%. Use the drawdown chart below to compare losses from any high point for GSGDX and VICBX.

Drawdown Indicators

	GSGDX	VICBX	Difference
Max Drawdown Largest peak-to-trough decline	-23.48%	-20.55%	-2.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.52%	-2.95%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-6.98%	-5.98%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-23.48%	-20.55%	-2.93%
Max Drawdown (10Y) Largest decline over 10 years	-23.48%	-20.55%	-2.93%
Current Drawdown Current decline from peak	-1.49%	-1.14%	-0.35%
Average Drawdown Average peak-to-trough decline	-3.87%	-3.14%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.87%	+0.16%

Volatility

GSGDX vs. VICBX - Volatility Comparison

Goldman Sachs Investment Grade Credit Fund (GSGDX) has a higher volatility of 1.58% compared to Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares (VICBX) at 1.39%. This indicates that GSGDX's price experiences larger fluctuations and is considered to be riskier than VICBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSGDX	VICBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.58%	1.39%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	3.38%	2.89%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	4.51%	3.92%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.85%	6.16%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.41%	5.34%	+1.07%

GSGDX vs. VICBX - Expense Ratio Comparison

GSGDX has a 0.38% expense ratio, which is higher than VICBX's 0.05% expense ratio.

Dividends

GSGDX vs. VICBX - Dividend Comparison

GSGDX's dividend yield for the trailing twelve months is around 4.83%, which matches VICBX's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSGDX Goldman Sachs Investment Grade Credit Fund	4.83%	4.75%	3.94%	3.52%	2.74%	5.10%	4.18%	5.89%	3.56%	3.19%	3.38%	3.76%
VICBX Vanguard Intermediate-Term Corporate Bond Index Fund Institutional Shares	4.79%	4.61%	4.79%	3.72%	3.02%	2.82%	2.79%	5.01%	3.64%	3.23%	3.32%	3.39%

Frequently Asked Questions

Can I hold both GSGDX and VICBX in my portfolio?

With a correlation of 0.91, GSGDX and VICBX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSGDX or VICBX?

GSGDX has higher volatility (1.58%) compared to VICBX (1.39%). In terms of maximum drawdown, GSGDX dropped -23.48% vs VICBX's -20.55%.

Which has better risk-adjusted returns?

VICBX currently has the higher Sharpe Ratio (1.61 vs 1.40), 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.