GSGOX vs. VGIVX

Last updated Apr 1, 2026

Compare and contrast key facts about Goldman Sachs Government Income Fund (GSGOX) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX).

GSGOX is managed by Goldman Sachs. It was launched on Feb 9, 1993. VGIVX is managed by Vanguard. It was launched on Feb 11, 2015.

Performance

GSGOX vs. VGIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Government Income Fund (GSGOX) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). The values are adjusted to include any dividend payments, if applicable.

GSGOX vs. VGIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSGOX Goldman Sachs Government Income Fund	1.75%	6.58%	0.07%	4.07%	-13.16%	-2.47%	6.34%	5.77%	0.30%	1.74%
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	-2.20%	13.05%	6.31%	10.48%	-16.72%	-2.41%	5.83%	14.03%	-2.72%	8.47%

Returns By Period

GSGOX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGIVX

• 1D: 0.04%
• 1M: -3.76%
• YTD: -2.20%
• 6M: 0.55%
• 1Y: 8.13%
• 3Y*: 8.28%
• 5Y*: 2.22%
• 10Y*: 3.50%

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

GSGOX vs. VGIVX - Expense Ratio Comparison

GSGOX has a 0.82% expense ratio, which is higher than VGIVX's 0.18% expense ratio.

GSGOX

Goldman Sachs Government Income Fund

VGIVX

Vanguard Emerging Markets Government Bond Index Fund Institutional Shares

Return for Risk

GSGOX vs. VGIVX — Risk / Return Rank

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

VGIVX

VGIVX Risk / Return Rank: 88
VGIVX Sharpe Ratio Rank: 90
VGIVX Sortino Ratio Rank: 91
VGIVX Omega Ratio Rank: 88
VGIVX Calmar Ratio Rank: 85
VGIVX Martin Ratio Rank: 85

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.

GSGOX vs. VGIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Government Income Fund (GSGOX) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GSGOX	VGIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.65	—

Correlation

The correlation between GSGOX and VGIVX is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GSGOX vs. VGIVX - Dividend Comparison

GSGOX's dividend yield for the trailing twelve months is around 3.32%, less than VGIVX's 5.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSGOX Goldman Sachs Government Income Fund	3.32%	3.03%	2.26%	2.09%	1.02%	2.30%	1.22%	2.03%	2.01%	1.73%	1.71%	1.53%
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares	5.51%	5.95%	6.58%	5.53%	5.32%	3.53%	4.21%	4.62%	4.62%	4.67%	4.76%	4.55%

Drawdowns

Drawdown Indicators

	GSGOX	VGIVX	Difference
Max Drawdown Largest peak-to-trough decline	—	-26.79%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.79%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.79%	—
Current Drawdown Current decline from peak	—	-3.90%	—
Average Drawdown Average peak-to-trough decline	—	-4.75%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.95%	—

Volatility

Volatility by Period

	GSGOX	VGIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.48%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.25%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.33%	—