GSHIX vs. GGSIX

Last updated Jun 23, 2026

GSHIX (Goldman Sachs High Yield Fund) and GGSIX (Goldman Sachs Growth Strategy Portfolio) are both mutual funds - GSHIX is a High Yield Bonds fund managed by Goldman Sachs, while GGSIX is a Global Allocation fund managed by Goldman Sachs. Over the past 10 years, GSHIX returned 4.77%/yr vs 11.42%/yr for GGSIX. At a 0.38 correlation, their price movements are largely independent. GSHIX charges 0.71%/yr vs 0.19%/yr for GGSIX.

Performance

GSHIX vs. GGSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs High Yield Fund (GSHIX) and Goldman Sachs Growth Strategy Portfolio (GGSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSHIX achieves a 1.06% return, which is significantly lower than GGSIX's 10.13% return. Over the past 10 years, GSHIX has underperformed GGSIX with an annualized return of 4.77%, while GGSIX has yielded a comparatively higher 11.42% annualized return.

GSHIX

• 1D: 0.00%
• 1M: 0.72%
• YTD: 1.06%
• 6M: 1.79%
• 1Y: 6.50%
• 3Y*: 8.00%
• 5Y*: 2.97%
• 10Y*: 4.77%

GGSIX

• 1D: 1.13%
• 1M: 1.78%
• YTD: 10.13%
• 6M: 9.97%
• 1Y: 25.75%
• 3Y*: 18.61%
• 5Y*: 10.39%
• 10Y*: 11.42%

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

GSHIX vs. GGSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSHIX Goldman Sachs High Yield Fund	1.06%	8.53%	6.91%	12.46%	-13.80%	4.13%	5.48%	15.54%	-3.69%	6.19%
GGSIX Goldman Sachs Growth Strategy Portfolio	10.13%	19.29%	19.26%	17.83%	-16.86%	17.04%	14.34%	24.92%	-10.65%	21.54%

Correlation

The correlation between GSHIX and GGSIX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.38

Over the past year, GSHIX and GGSIX have become more correlated (0.63) than their long-term average of 0.38, meaning their price movements have been converging.

Return for Risk

GSHIX vs. GGSIX — Risk / Return Rank

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

GSHIX

GSHIX Risk / Return Rank: 62
GSHIX Sharpe Ratio Rank: 47
GSHIX Sortino Ratio Rank: 70
GSHIX Omega Ratio Rank: 76
GSHIX Calmar Ratio Rank: 45
GSHIX Martin Ratio Rank: 71

GGSIX

GGSIX Risk / Return Rank: 66
GGSIX Sharpe Ratio Rank: 68
GGSIX Sortino Ratio Rank: 64
GGSIX Omega Ratio Rank: 65
GGSIX Calmar Ratio Rank: 64
GGSIX Martin Ratio Rank: 71

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.

GSHIX vs. GGSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs High Yield Fund (GSHIX) and Goldman Sachs Growth Strategy Portfolio (GGSIX). 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.

	GSHIX	GGSIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.21	-0.34
Sortino ratio: Return per unit of downside risk	3.16	3.04	+0.12
Omega ratio: Gain probability vs. loss probability	1.45	1.41	+0.04
Calmar ratio: Return relative to maximum drawdown	2.47	2.94	-0.48
Martin ratio: Return relative to average drawdown	12.68	12.81	-0.13

GSHIX vs. GGSIX - Sharpe Ratio Comparison

The current GSHIX Sharpe Ratio is 1.88, which is comparable to the GGSIX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of GSHIX and GGSIX, 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

GSHIX vs. GGSIX - Drawdown Comparison

The maximum GSHIX drawdown since its inception was -34.42%, smaller than the maximum GGSIX drawdown of -52.85%. Use the drawdown chart below to compare losses from any high point for GSHIX and GGSIX.

Drawdown Indicators

	GSHIX	GGSIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.42%	-52.85%	+18.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	-8.71%	+6.05%
Max Drawdown (3Y) Largest decline over 3 years	-4.41%	-14.78%	+10.37%
Max Drawdown (5Y) Largest decline over 5 years	-17.60%	-26.74%	+9.14%
Max Drawdown (10Y) Largest decline over 10 years	-23.06%	-30.36%	+7.30%
Current Drawdown Current decline from peak	-0.18%	-0.31%	+0.13%
Average Drawdown Average peak-to-trough decline	-3.03%	-9.19%	+6.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	1.99%	-1.48%

Volatility

GSHIX vs. GGSIX - Volatility Comparison

The current volatility for Goldman Sachs High Yield Fund (GSHIX) is 0.94%, while Goldman Sachs Growth Strategy Portfolio (GGSIX) has a volatility of 4.67%. This indicates that GSHIX experiences smaller price fluctuations and is considered to be less risky than GGSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSHIX	GGSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	4.67%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	9.58%	-6.86%
Volatility (1Y) Calculated over the trailing 1-year period	3.49%	11.59%	-8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.07%	13.54%	-8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.87%	14.37%	-8.50%

GSHIX vs. GGSIX - Expense Ratio Comparison

GSHIX has a 0.71% expense ratio, which is higher than GGSIX's 0.19% expense ratio.

Dividends

GSHIX vs. GGSIX - Dividend Comparison

GSHIX's dividend yield for the trailing twelve months is around 6.52%, less than GGSIX's 10.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGSIX Goldman Sachs Growth Strategy Portfolio	10.78%	11.87%	12.21%	1.73%	5.76%	6.57%	3.47%	5.77%	3.02%	2.77%	1.35%	2.03%
GSHIX Goldman Sachs High Yield Fund	6.52%	6.53%	6.47%	6.01%	4.41%	4.83%	5.45%	5.64%	5.85%	5.42%	5.54%	6.33%

Frequently Asked Questions

Can I hold both GSHIX and GGSIX in my portfolio?

GSHIX and GGSIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSHIX or GGSIX?

GGSIX has higher volatility (4.67%) compared to GSHIX (0.94%). In terms of maximum drawdown, GSHIX dropped -34.42% vs GGSIX's -52.85%.

Which has better risk-adjusted returns?

GGSIX currently has the higher Sharpe Ratio (2.21 vs 1.88), 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.