GSIPX vs. DFAAX

Last updated Jun 4, 2026

GSIPX (Goldman Sachs Inflation Protected Securities Fund) and DFAAX (DFA Global Core Plus Real Return Portfolio) are both Inflation-Protected Bonds funds. Over the past 5 years, GSIPX returned -0.13%/yr vs 5.25%/yr for DFAAX. A 0.79 correlation means they provide meaningful diversification when combined. GSIPX charges 0.34%/yr vs 0.29%/yr for DFAAX.

Performance

GSIPX vs. DFAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Inflation Protected Securities Fund (GSIPX) and DFA Global Core Plus Real Return Portfolio (DFAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIPX achieves a 1.48% return, which is significantly lower than DFAAX's 3.06% return.

GSIPX

• 1D: 0.00%
• 1M: 0.21%
• YTD: 1.48%
• 6M: 1.12%
• 1Y: 5.15%
• 3Y*: 3.68%
• 5Y*: -0.13%
• 10Y*: 1.92%

DFAAX

• 1D: 0.10%
• 1M: 0.82%
• YTD: 3.06%
• 6M: 2.63%
• 1Y: 5.28%
• 3Y*: 6.24%
• 5Y*: 5.25%
• 10Y*: —

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

GSIPX vs. DFAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GSIPX Goldman Sachs Inflation Protected Securities Fund	1.48%	6.15%	1.87%	3.70%	-16.63%	4.69%
DFAAX DFA Global Core Plus Real Return Portfolio	3.06%	5.18%	4.41%	9.49%	-13.40%	20.47%

Correlation

The correlation between GSIPX and DFAAX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since May 6, 2021	0.79

The correlation between GSIPX and DFAAX shifts across timeframes, from 0.67 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GSIPX vs. DFAAX — Risk / Return Rank

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

GSIPX

GSIPX Risk / Return Rank: 31
GSIPX Sharpe Ratio Rank: 27
GSIPX Sortino Ratio Rank: 29
GSIPX Omega Ratio Rank: 26
GSIPX Calmar Ratio Rank: 39
GSIPX Martin Ratio Rank: 34

DFAAX

DFAAX Risk / Return Rank: 34
DFAAX Sharpe Ratio Rank: 35
DFAAX Sortino Ratio Rank: 36
DFAAX Omega Ratio Rank: 40
DFAAX Calmar Ratio Rank: 30
DFAAX Martin Ratio Rank: 31

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.

GSIPX vs. DFAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Inflation Protected Securities Fund (GSIPX) and DFA Global Core Plus Real Return Portfolio (DFAAX). 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.

	GSIPX	DFAAX	Difference
Sharpe ratio Return per unit of total volatility	1.50	1.71	-0.21
Sortino ratio Return per unit of downside risk	2.24	2.50	-0.26
Omega ratio Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio Return relative to maximum drawdown	2.37	2.06	+0.31
Martin ratio Return relative to average drawdown	7.58	7.27	+0.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIPX vs. DFAAX - Sharpe Ratio Comparison

The current GSIPX Sharpe Ratio is 1.50, which is comparable to the DFAAX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of GSIPX and DFAAX, 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

	GSIPX	DFAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.71	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.63	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.63	-0.17

Drawdowns

GSIPX vs. DFAAX - Drawdown Comparison

The maximum GSIPX drawdown since its inception was -18.83%, which is greater than DFAAX's maximum drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for GSIPX and DFAAX.

Drawdown Indicators

	GSIPX	DFAAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	-16.64%	-2.19%
Max Drawdown (1Y) Largest decline over 1 year	-2.15%	-2.55%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-4.52%	-3.44%	-1.08%
Max Drawdown (5Y) Largest decline over 5 years	-18.83%	-16.64%	-2.19%
Max Drawdown (10Y) Largest decline over 10 years	-18.83%	—	—
Current Drawdown Current decline from peak	-5.69%	0.00%	-5.69%
Average Drawdown Average peak-to-trough decline	-4.83%	-4.55%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.72%	-0.05%

Volatility

GSIPX vs. DFAAX - Volatility Comparison

The current volatility for Goldman Sachs Inflation Protected Securities Fund (GSIPX) is 0.86%, while DFA Global Core Plus Real Return Portfolio (DFAAX) has a volatility of 0.93%. This indicates that GSIPX experiences smaller price fluctuations and is considered to be less risky than DFAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIPX	DFAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.93%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	2.23%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.41%	3.06%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.62%	8.37%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	8.32%	-2.61%

GSIPX vs. DFAAX - Expense Ratio Comparison

GSIPX has a 0.34% expense ratio, which is higher than DFAAX's 0.29% expense ratio.

Dividends

GSIPX vs. DFAAX - Dividend Comparison

GSIPX's dividend yield for the trailing twelve months is around 3.97%, more than DFAAX's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAAX DFA Global Core Plus Real Return Portfolio	3.37%	2.90%	4.09%	3.96%	2.06%	13.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GSIPX Goldman Sachs Inflation Protected Securities Fund	3.97%	3.58%	4.57%	3.84%	1.37%	5.27%	1.15%	2.44%	2.11%	1.98%	1.27%	0.76%

Frequently Asked Questions

Can I hold both GSIPX and DFAAX in my portfolio?

GSIPX and DFAAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIPX or DFAAX?

DFAAX has higher volatility (0.93%) compared to GSIPX (0.86%). In terms of maximum drawdown, GSIPX dropped -18.83% vs DFAAX's -16.64%.

Which has better risk-adjusted returns?

DFAAX currently has the higher Sharpe Ratio (1.71 vs 1.50), 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.