GSHIX vs. HYG
GSHIX (Goldman Sachs High Yield Fund) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both High Yield Bonds funds. Over the past 10 years, GSHIX returned 4.77%/yr vs 5.00%/yr for HYG. A 0.52 correlation means they provide meaningful diversification when combined. GSHIX charges 0.71%/yr vs 0.49%/yr for HYG.
Performance
GSHIX vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, GSHIX achieves a 1.06% return, which is significantly lower than HYG's 1.65% return. Both investments have delivered pretty close results over the past 10 years, with GSHIX having a 4.77% annualized return and HYG not far ahead at 5.00%.
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%
HYG
- 1D
- -0.09%
- 1M
- 0.55%
- YTD
- 1.65%
- 6M
- 1.90%
- 1Y
- 6.23%
- 3Y*
- 8.78%
- 5Y*
- 3.77%
- 10Y*
- 5.00%
GSHIX vs. HYG - 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% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.65% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between GSHIX and HYG is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | 0.52 |
The correlation between GSHIX and HYG shifts across timeframes, from 0.52 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GSHIX vs. HYG — Risk / Return Rank
GSHIX
HYG
GSHIX vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs High Yield Fund (GSHIX) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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 | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.31 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.67 | -0.21 |
| Martin ratioReturn relative to average drawdown | 12.68 | 11.73 | +0.95 |
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Drawdowns
GSHIX vs. HYG - Drawdown Comparison
The maximum GSHIX drawdown since its inception was -34.42%, roughly equal to the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for GSHIX and HYG.
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Drawdown Indicators
| GSHIX | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.42% | -34.25% | -0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.34% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.41% | -4.56% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -17.60% | -15.79% | -1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -23.06% | -22.03% | -1.03% |
Current DrawdownCurrent decline from peak | -0.18% | -0.12% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.03% | -3.23% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.53% | -0.02% |
Volatility
GSHIX vs. HYG - Volatility Comparison
The current volatility for Goldman Sachs High Yield Fund (GSHIX) is 0.94%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.12%. This indicates that GSHIX experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSHIX | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.12% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 3.12% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 3.89% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.07% | 7.54% | -2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.87% | 8.29% | -2.42% |
GSHIX vs. HYG - Expense Ratio Comparison
GSHIX has a 0.71% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
GSHIX vs. HYG - Dividend Comparison
GSHIX's dividend yield for the trailing twelve months is around 6.52%, more than HYG's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
GSHIX and HYG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYG has higher volatility (1.12%) compared to GSHIX (0.94%). In terms of maximum drawdown, GSHIX dropped -34.42% vs HYG's -34.25%.
GSHIX currently has the higher Sharpe Ratio (1.88 vs 1.61), 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.
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