GSIOX vs. VSGAX

Last updated Aug 1, 2026

GSIOX (Goldman Sachs Small Cap Growth Insights Fund) and VSGAX (Vanguard Small-Cap Growth Index Fund Admiral Shares) are both Small Cap Growth Equities funds. Over the past 10 years, GSIOX returned 11.38%/yr vs 10.76%/yr for VSGAX. Their 0.96 correlation means they have historically moved very closely together. GSIOX charges 0.84%/yr vs 0.07%/yr for VSGAX.

Performance

GSIOX vs. VSGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Growth Insights Fund (GSIOX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIOX achieves a 19.52% return, which is significantly higher than VSGAX's 13.34% return. Over the past 10 years, GSIOX has outperformed VSGAX with an annualized return of 11.38%, while VSGAX has yielded a comparatively lower 10.76% annualized return.

GSIOX

• 1D: 2.35%
• 1M: -3.43%
• 6M: 14.33%
• YTD: 19.52%
• 1Y: 40.03%
• 3Y*: 19.70%
• 5Y*: 8.83%
• 10Y*: 11.38%
• ALL TIME*: 10.20%

VSGAX

• 1D: 2.22%
• 1M: -4.69%
• 6M: 9.35%
• YTD: 13.34%
• 1Y: 23.55%
• 3Y*: 13.20%
• 5Y*: 4.17%
• 10Y*: 10.76%
• ALL TIME*: 11.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GSIOX Goldman Sachs Small Cap Growth Insights Fund	$0.00	$0.00	$0.00
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	$0.00	$0.00	$0.00

GSIOX vs. VSGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIOX Goldman Sachs Small Cap Growth Insights Fund	19.52%	16.99%	22.37%	21.29%	-27.09%	9.87%	18.35%	26.50%	-7.15%	18.41%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	13.34%	8.44%	14.94%	23.04%	-28.39%	5.70%	35.26%	32.76%	-5.69%	21.92%

Correlation

The correlation between GSIOX and VSGAX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.96

The correlation between GSIOX and VSGAX has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

GSIOX vs. VSGAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSIOX

GSIOX Risk / Return Rank: 68
GSIOX Sharpe Ratio Rank: 65
GSIOX Sortino Ratio Rank: 63
GSIOX Omega Ratio Rank: 54
GSIOX Calmar Ratio Rank: 81
GSIOX Martin Ratio Rank: 77

VSGAX

VSGAX Risk / Return Rank: 37
VSGAX Sharpe Ratio Rank: 31
VSGAX Sortino Ratio Rank: 32
VSGAX Omega Ratio Rank: 29
VSGAX Calmar Ratio Rank: 48
VSGAX Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GSIOX vs. VSGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Growth Insights Fund (GSIOX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). 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.

	GSIOX	VSGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	0.97	+0.64
Sortino ratio: Return per unit of downside risk	2.29	1.46	+0.82
Omega ratio: Gain probability vs. loss probability	1.27	1.17	+0.10
Calmar ratio: Return relative to maximum drawdown	2.75	1.77	+0.98
Martin ratio: Return relative to average drawdown	9.75	6.03	+3.71

GSIOX vs. VSGAX - Sharpe Ratio Comparison

The current GSIOX Sharpe Ratio is 1.62, which is higher than the VSGAX Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of GSIOX and VSGAX, 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

GSIOX vs. VSGAX - Drawdown Comparison

The maximum GSIOX drawdown since its inception was -53.27%, which is greater than VSGAX's maximum drawdown of -38.70%. Use the drawdown chart below to compare losses from any high point for GSIOX and VSGAX.

Drawdown Indicators

	GSIOX	VSGAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-38.70%	-14.57%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-11.37%	-1.94%
Max Drawdown (3Y) Largest decline over 3 years	-28.21%	-27.47%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-39.12%	-38.36%	-0.76%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	-38.70%	-4.87%
Current Drawdown Current decline from peak	-5.19%	-6.66%	+1.47%
Average Drawdown Average peak-to-trough decline	-10.46%	-8.49%	-1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.35%	+0.39%

Volatility

GSIOX vs. VSGAX - Volatility Comparison

Goldman Sachs Small Cap Growth Insights Fund (GSIOX) has a higher volatility of 5.51% compared to Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) at 5.24%. This indicates that GSIOX's price experiences larger fluctuations and is considered to be riskier than VSGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIOX	VSGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	5.24%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	16.88%	16.13%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	22.62%	20.70%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.68%	23.74%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	23.05%	+1.59%

GSIOX vs. VSGAX - Expense Ratio Comparison

GSIOX has a 0.84% expense ratio, which is higher than VSGAX's 0.07% expense ratio.

Dividends

GSIOX vs. VSGAX - Dividend Comparison

GSIOX's dividend yield for the trailing twelve months is around 4.12%, more than VSGAX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIOX Goldman Sachs Small Cap Growth Insights Fund	4.12%	4.93%	0.80%	0.00%	0.39%	113.92%	2.94%	1.11%	10.85%	3.67%	0.00%	8.38%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	0.44%	0.54%	0.54%	0.67%	0.55%	0.36%	0.44%	0.57%	0.79%	0.81%	1.08%	0.98%

Frequently Asked Questions

Can I hold both GSIOX and VSGAX in my portfolio?

With a correlation of 0.96, GSIOX and VSGAX 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 VSGAX?

GSIOX has higher volatility (5.51%) compared to VSGAX (5.24%). In terms of maximum drawdown, GSIOX dropped -53.27% vs VSGAX's -38.70%.

Which has better risk-adjusted returns?

GSIOX currently has the higher Sharpe Ratio (1.62 vs 0.97), 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.