GSMYX vs. VMFGX

Last updated Jun 6, 2026

GSMYX (Goldman Sachs Small/Mid Cap Growth Fund) and VMFGX (Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares) are both Mid Cap Growth Equities funds. Over the past 10 years, GSMYX returned 11.63%/yr vs 11.68%/yr for VMFGX. Their correlation of 0.93 suggests significant overlap in exposure. GSMYX charges 0.89%/yr vs 0.08%/yr for VMFGX.

Performance

GSMYX vs. VMFGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSMYX achieves a 17.82% return, which is significantly lower than VMFGX's 19.43% return. Both investments have delivered pretty close results over the past 10 years, with GSMYX having a 11.63% annualized return and VMFGX not far ahead at 11.68%.

GSMYX

• 1D: 0.47%
• 1M: 2.56%
• YTD: 17.82%
• 6M: 15.57%
• 1Y: 28.56%
• 3Y*: 13.59%
• 5Y*: 3.24%
• 10Y*: 11.63%

VMFGX

• 1D: 0.33%
• 1M: 1.86%
• YTD: 19.43%
• 6M: 18.74%
• 1Y: 30.53%
• 3Y*: 18.60%
• 5Y*: 8.76%
• 10Y*: 11.68%

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

GSMYX vs. VMFGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSMYX Goldman Sachs Small/Mid Cap Growth Fund	17.82%	2.15%	12.88%	14.28%	-28.45%	7.93%	53.14%	38.25%	-5.63%	28.22%
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares	19.43%	7.43%	15.86%	17.42%	-18.99%	18.83%	22.61%	26.20%	-10.39%	19.87%

Correlation

The correlation between GSMYX and VMFGX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012	0.93

The correlation between GSMYX and VMFGX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

GSMYX vs. VMFGX — Risk / Return Rank

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

GSMYX

GSMYX Risk / Return Rank: 33
GSMYX Sharpe Ratio Rank: 26
GSMYX Sortino Ratio Rank: 27
GSMYX Omega Ratio Rank: 25
GSMYX Calmar Ratio Rank: 39
GSMYX Martin Ratio Rank: 48

VMFGX

VMFGX Risk / Return Rank: 51
VMFGX Sharpe Ratio Rank: 42
VMFGX Sortino Ratio Rank: 41
VMFGX Omega Ratio Rank: 38
VMFGX Calmar Ratio Rank: 68
VMFGX Martin Ratio Rank: 65

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.

GSMYX vs. VMFGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX). 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.

	GSMYX	VMFGX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.81	-0.41
Sortino ratio: Return per unit of downside risk	2.05	2.59	-0.54
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	2.29	3.08	-0.79
Martin ratio: Return relative to average drawdown	9.61	12.26	-2.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSMYX vs. VMFGX - Sharpe Ratio Comparison

The current GSMYX Sharpe Ratio is 1.41, which is comparable to the VMFGX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of GSMYX and VMFGX, 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

	GSMYX	VMFGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.81	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.43	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.56	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.65	-0.16

Drawdowns

GSMYX vs. VMFGX - Drawdown Comparison

The maximum GSMYX drawdown since its inception was -55.00%, which is greater than VMFGX's maximum drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for GSMYX and VMFGX.

Drawdown Indicators

	GSMYX	VMFGX	Difference
Max Drawdown Largest peak-to-trough decline	-55.00%	-39.15%	-15.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-9.91%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-29.90%	-25.45%	-4.45%
Max Drawdown (5Y) Largest decline over 5 years	-42.51%	-29.25%	-13.26%
Max Drawdown (10Y) Largest decline over 10 years	-42.51%	-39.15%	-3.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.89%	-5.70%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	2.48%	+0.50%

Volatility

GSMYX vs. VMFGX - Volatility Comparison

Goldman Sachs Small/Mid Cap Growth Fund (GSMYX) has a higher volatility of 6.17% compared to Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX) at 4.98%. This indicates that GSMYX's price experiences larger fluctuations and is considered to be riskier than VMFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSMYX	VMFGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	4.98%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	16.51%	13.06%	+3.45%
Volatility (1Y) Calculated over the trailing 1-year period	20.45%	16.82%	+3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.65%	20.61%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.71%	21.05%	+1.66%

GSMYX vs. VMFGX - Expense Ratio Comparison

GSMYX has a 0.89% expense ratio, which is higher than VMFGX's 0.08% expense ratio.

Dividends

GSMYX vs. VMFGX - Dividend Comparison

GSMYX's dividend yield for the trailing twelve months is around 13.37%, more than VMFGX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSMYX Goldman Sachs Small/Mid Cap Growth Fund	13.37%	15.76%	0.67%	0.00%	0.00%	14.07%	13.51%	14.27%	20.82%	12.92%	3.50%	3.62%
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares	0.59%	0.70%	0.84%	1.21%	1.12%	0.53%	0.79%	1.22%	1.18%	0.93%	1.14%	1.14%

Frequently Asked Questions

Can I hold both GSMYX and VMFGX in my portfolio?

With a correlation of 0.93, GSMYX and VMFGX 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, GSMYX or VMFGX?

GSMYX has higher volatility (6.17%) compared to VMFGX (4.98%). In terms of maximum drawdown, GSMYX dropped -55.00% vs VMFGX's -39.15%.

Which has better risk-adjusted returns?

VMFGX currently has the higher Sharpe Ratio (1.81 vs 1.41), 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.