GSPAX vs. DHY
GSPAX (Goldman Sachs U.S. Equity Dividend and Premium Fund Class A) and DHY (Dimensional High Yield Equity Fund) are both Dividend funds. Over the past 10 years, GSPAX returned 12.90%/yr vs 6.10%/yr for DHY. At a 0.31 correlation, their price movements are largely independent. GSPAX charges 1.01%/yr vs 0.04%/yr for DHY.
Performance
GSPAX vs. DHY - Performance Comparison
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Returns By Period
In the year-to-date period, GSPAX achieves a 9.73% return, which is significantly higher than DHY's -8.56% return. Over the past 10 years, GSPAX has outperformed DHY with an annualized return of 12.90%, while DHY has yielded a comparatively lower 6.10% annualized return.
GSPAX
- 1D
- -0.25%
- 1M
- 0.86%
- YTD
- 9.73%
- 6M
- 9.13%
- 1Y
- 22.71%
- 3Y*
- 19.91%
- 5Y*
- 12.52%
- 10Y*
- 12.90%
DHY
- 1D
- -0.57%
- 1M
- 0.32%
- YTD
- -8.56%
- 6M
- -9.01%
- 1Y
- -8.49%
- 3Y*
- 6.15%
- 5Y*
- 1.76%
- 10Y*
- 6.10%
GSPAX vs. DHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSPAX Goldman Sachs U.S. Equity Dividend and Premium Fund Class A | 9.73% | 13.27% | 29.10% | 21.09% | -15.36% | 22.39% | 13.66% | 24.67% | -6.63% | 14.84% |
DHY Dimensional High Yield Equity Fund | -8.56% | 2.19% | 18.18% | 24.13% | -21.75% | 16.99% | 0.10% | 26.18% | -16.10% | 17.06% |
Correlation
The correlation between GSPAX and DHY is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.31 |
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Return for Risk
GSPAX vs. DHY — Risk / Return Rank
GSPAX
DHY
GSPAX vs. DHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs U.S. Equity Dividend and Premium Fund Class A (GSPAX) and Dimensional High Yield Equity Fund (DHY). 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.
| GSPAX | DHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.02 | ||
| Sortino ratioReturn per unit of downside risk | +4.13 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.89 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | -0.65 | +3.66 |
| Martin ratioReturn relative to average drawdown | 14.93 | -1.44 | +16.37 |
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Drawdowns
GSPAX vs. DHY - Drawdown Comparison
The maximum GSPAX drawdown since its inception was -52.07%, smaller than the maximum DHY drawdown of -71.47%. Use the drawdown chart below to compare losses from any high point for GSPAX and DHY.
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Drawdown Indicators
| GSPAX | DHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.07% | -71.47% | +19.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.92% | -13.03% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -20.51% | -13.03% | -7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.39% | -27.23% | +4.84% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | -41.36% | +8.65% |
Current DrawdownCurrent decline from peak | -0.60% | -11.75% | +11.15% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -12.35% | +6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 5.91% | -4.32% |
Volatility
GSPAX vs. DHY - Volatility Comparison
Goldman Sachs U.S. Equity Dividend and Premium Fund Class A (GSPAX) has a higher volatility of 3.50% compared to Dimensional High Yield Equity Fund (DHY) at 2.97%. This indicates that GSPAX's price experiences larger fluctuations and is considered to be riskier than DHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSPAX | DHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 2.97% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 8.34% | 9.93% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 12.19% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 15.36% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 17.95% | -1.04% |
GSPAX vs. DHY - Expense Ratio Comparison
GSPAX has a 1.01% expense ratio, which is higher than DHY's 0.04% expense ratio.
Dividends
GSPAX vs. DHY - Dividend Comparison
GSPAX's dividend yield for the trailing twelve months is around 5.71%, less than DHY's 10.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHY Dimensional High Yield Equity Fund | 10.69% | 9.30% | 8.69% | 9.39% | 10.57% | 7.61% | 8.68% | 9.02% | 11.20% | 9.40% | 10.52% | 12.63% |
GSPAX Goldman Sachs U.S. Equity Dividend and Premium Fund Class A | 5.71% | 6.05% | 12.41% | 6.14% | 6.12% | 5.67% | 6.81% | 6.47% | 7.50% | 5.73% | 5.25% | 5.86% |
Frequently Asked Questions
GSPAX and DHY have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSPAX has higher volatility (3.50%) compared to DHY (2.97%). In terms of maximum drawdown, GSPAX dropped -52.07% vs DHY's -71.47%.
GSPAX currently has the higher Sharpe Ratio (2.32 vs -0.70), 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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