GSIOX vs. RYWCX

Last updated Jun 3, 2026

GSIOX (Goldman Sachs Small Cap Growth Insights Fund) and RYWCX (Rydex S&P SmallCap 600 Pure Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, GSIOX returned 11.95%/yr vs 7.08%/yr for RYWCX. With a 0.95 correlation, they move nearly in lockstep. GSIOX charges 0.84%/yr vs 2.26%/yr for RYWCX.

Performance

GSIOX vs. RYWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Growth Insights Fund (GSIOX) and Rydex S&P SmallCap 600 Pure Growth Fund (RYWCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIOX achieves a 20.18% return, which is significantly higher than RYWCX's 16.78% return. Over the past 10 years, GSIOX has outperformed RYWCX with an annualized return of 11.95%, while RYWCX has yielded a comparatively lower 7.08% annualized return.

GSIOX

• 1D: -0.22%
• 1M: 4.23%
• YTD: 20.18%
• 6M: 21.91%
• 1Y: 46.81%
• 3Y*: 23.77%
• 5Y*: 8.88%
• 10Y*: 11.95%

RYWCX

• 1D: -0.45%
• 1M: -0.88%
• YTD: 16.78%
• 6M: 16.98%
• 1Y: 28.98%
• 3Y*: 14.44%
• 5Y*: 2.15%
• 10Y*: 7.08%

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

GSIOX vs. RYWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIOX Goldman Sachs Small Cap Growth Insights Fund	20.18%	16.99%	22.37%	21.29%	-27.09%	9.87%	18.35%	26.50%	-7.15%	18.41%
RYWCX Rydex S&P SmallCap 600 Pure Growth Fund	16.78%	7.76%	7.20%	17.03%	-30.33%	16.37%	15.23%	11.58%	-9.55%	15.23%

Correlation

The correlation between GSIOX and RYWCX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.95

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

Return for Risk

GSIOX vs. RYWCX — Risk / Return Rank

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

GSIOX

GSIOX Risk / Return Rank: 60
GSIOX Sharpe Ratio Rank: 57
GSIOX Sortino Ratio Rank: 50
GSIOX Omega Ratio Rank: 44
GSIOX Calmar Ratio Rank: 79
GSIOX Martin Ratio Rank: 70

RYWCX

RYWCX Risk / Return Rank: 45
RYWCX Sharpe Ratio Rank: 31
RYWCX Sortino Ratio Rank: 33
RYWCX Omega Ratio Rank: 28
RYWCX Calmar Ratio Rank: 75
RYWCX Martin Ratio Rank: 55

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.

GSIOX vs. RYWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Growth Insights Fund (GSIOX) and Rydex S&P SmallCap 600 Pure Growth Fund (RYWCX). 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.

	GSIOX	RYWCX	Difference
Sharpe ratio Return per unit of total volatility	2.22	1.60	+0.62
Sortino ratio Return per unit of downside risk	2.99	2.40	+0.60
Omega ratio Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio Return relative to maximum drawdown	3.61	3.43	+0.18
Martin ratio Return relative to average drawdown	13.53	11.24	+2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIOX vs. RYWCX - Sharpe Ratio Comparison

The current GSIOX Sharpe Ratio is 2.22, which is higher than the RYWCX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of GSIOX and RYWCX, 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

	GSIOX	RYWCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	1.60	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.09	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.29	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.26	+0.14

Drawdowns

GSIOX vs. RYWCX - Drawdown Comparison

The maximum GSIOX drawdown since its inception was -53.27%, smaller than the maximum RYWCX drawdown of -60.64%. Use the drawdown chart below to compare losses from any high point for GSIOX and RYWCX.

Drawdown Indicators

	GSIOX	RYWCX	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-60.64%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-8.49%	-4.82%
Max Drawdown (3Y) Largest decline over 3 years	-28.21%	-26.39%	-1.82%
Max Drawdown (5Y) Largest decline over 5 years	-39.12%	-40.28%	+1.16%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	-54.65%	+11.08%
Current Drawdown Current decline from peak	-0.84%	-2.00%	+1.16%
Average Drawdown Average peak-to-trough decline	-10.54%	-13.45%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.59%	+0.96%

Volatility

GSIOX vs. RYWCX - Volatility Comparison

Goldman Sachs Small Cap Growth Insights Fund (GSIOX) has a higher volatility of 6.25% compared to Rydex S&P SmallCap 600 Pure Growth Fund (RYWCX) at 4.68%. This indicates that GSIOX's price experiences larger fluctuations and is considered to be riskier than RYWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIOX	RYWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	4.68%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	13.34%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	21.79%	18.33%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	22.87%	+1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	24.72%	-0.11%

GSIOX vs. RYWCX - Expense Ratio Comparison

GSIOX has a 0.84% expense ratio, which is lower than RYWCX's 2.26% expense ratio.

Dividends

GSIOX vs. RYWCX - Dividend Comparison

GSIOX's dividend yield for the trailing twelve months is around 4.10%, while RYWCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIOX Goldman Sachs Small Cap Growth Insights Fund	4.10%	4.93%	0.80%	0.00%	0.39%	113.92%	2.94%	1.11%	10.85%	3.67%	0.00%	8.38%
RYWCX Rydex S&P SmallCap 600 Pure Growth Fund	0.00%	0.00%	14.52%	0.00%	0.00%	59.93%	0.00%	0.00%	9.26%	3.92%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSIOX and RYWCX in my portfolio?

With a correlation of 0.90, GSIOX and RYWCX 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, GSIOX or RYWCX?

GSIOX has higher volatility (6.25%) compared to RYWCX (4.68%). In terms of maximum drawdown, GSIOX dropped -53.27% vs RYWCX's -60.64%.

Which has better risk-adjusted returns?

GSIOX currently has the higher Sharpe Ratio (2.22 vs 1.60), 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.