GSSMX vs. AZBIX

Last updated Jun 24, 2026

GSSMX (Goldman Sachs Small Cap Value Fund) and AZBIX (Virtus Small-Cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, GSSMX returned 12.17%/yr vs 12.54%/yr for AZBIX. Their correlation of 0.91 suggests significant overlap in exposure. GSSMX charges 1.28%/yr vs 0.89%/yr for AZBIX.

Performance

GSSMX vs. AZBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Value Fund (GSSMX) and Virtus Small-Cap Fund (AZBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GSSMX having a 20.89% return and AZBIX slightly higher at 21.60%. Both investments have delivered pretty close results over the past 10 years, with GSSMX having a 12.17% annualized return and AZBIX not far ahead at 12.54%.

GSSMX

• 1D: 1.11%
• 1M: 6.38%
• YTD: 20.89%
• 6M: 18.73%
• 1Y: 37.59%
• 3Y*: 27.66%
• 5Y*: 12.61%
• 10Y*: 12.17%

AZBIX

• 1D: 1.11%
• 1M: 5.08%
• YTD: 21.60%
• 6M: 19.04%
• 1Y: 37.51%
• 3Y*: 19.20%
• 5Y*: 8.96%
• 10Y*: 12.54%

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

GSSMX vs. AZBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSSMX Goldman Sachs Small Cap Value Fund	20.89%	10.65%	36.03%	11.18%	-15.00%	26.15%	1.65%	22.75%	-14.37%	11.85%
AZBIX Virtus Small-Cap Fund	21.60%	8.49%	19.06%	14.09%	-18.04%	18.92%	16.98%	24.13%	-9.25%	21.27%

Correlation

The correlation between GSSMX and AZBIX 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	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jul 2, 2013	0.91

The correlation between GSSMX and AZBIX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

GSSMX vs. AZBIX — Risk / Return Rank

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

GSSMX

GSSMX Risk / Return Rank: 69
GSSMX Sharpe Ratio Rank: 66
GSSMX Sortino Ratio Rank: 69
GSSMX Omega Ratio Rank: 56
GSSMX Calmar Ratio Rank: 84
GSSMX Martin Ratio Rank: 73

AZBIX

AZBIX Risk / Return Rank: 74
AZBIX Sharpe Ratio Rank: 72
AZBIX Sortino Ratio Rank: 69
AZBIX Omega Ratio Rank: 58
AZBIX Calmar Ratio Rank: 89
AZBIX Martin Ratio Rank: 84

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.

GSSMX vs. AZBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Value Fund (GSSMX) and Virtus Small-Cap Fund (AZBIX). 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.

	GSSMX	AZBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.27	-0.08
Sortino ratio: Return per unit of downside risk	3.16	3.16	-0.01
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	3.71	4.20	-0.49
Martin ratio: Return relative to average drawdown	13.00	14.64	-1.64

GSSMX vs. AZBIX - Sharpe Ratio Comparison

The current GSSMX Sharpe Ratio is 2.19, which is comparable to the AZBIX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of GSSMX and AZBIX, 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

GSSMX vs. AZBIX - Drawdown Comparison

The maximum GSSMX drawdown since its inception was -54.94%, which is greater than AZBIX's maximum drawdown of -40.80%. Use the drawdown chart below to compare losses from any high point for GSSMX and AZBIX.

Drawdown Indicators

	GSSMX	AZBIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.94%	-40.80%	-14.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-9.33%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-36.28%	-29.01%	-7.27%
Max Drawdown (5Y) Largest decline over 5 years	-36.28%	-29.85%	-6.43%
Max Drawdown (10Y) Largest decline over 10 years	-46.16%	-40.80%	-5.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.01%	-7.69%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.67%	+0.38%

Volatility

GSSMX vs. AZBIX - Volatility Comparison

The current volatility for Goldman Sachs Small Cap Value Fund (GSSMX) is 5.32%, while Virtus Small-Cap Fund (AZBIX) has a volatility of 5.63%. This indicates that GSSMX experiences smaller price fluctuations and is considered to be less risky than AZBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSSMX	AZBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	5.63%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	12.88%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	18.27%	17.32%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.69%	20.56%	+12.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.88%	21.40%	+7.48%

GSSMX vs. AZBIX - Expense Ratio Comparison

GSSMX has a 1.28% expense ratio, which is higher than AZBIX's 0.89% expense ratio.

Dividends

GSSMX vs. AZBIX - Dividend Comparison

GSSMX's dividend yield for the trailing twelve months is around 18.59%, more than AZBIX's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AZBIX Virtus Small-Cap Fund	4.03%	4.90%	10.82%	2.31%	4.78%	13.82%	0.45%	0.38%	9.62%	13.80%	0.03%	3.59%
GSSMX Goldman Sachs Small Cap Value Fund	18.59%	22.47%	47.63%	4.49%	20.33%	22.93%	0.19%	4.63%	13.73%	11.34%	3.52%	5.49%

Frequently Asked Questions

Can I hold both GSSMX and AZBIX in my portfolio?

GSSMX and AZBIX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSSMX or AZBIX?

AZBIX has higher volatility (5.63%) compared to GSSMX (5.32%). In terms of maximum drawdown, GSSMX dropped -54.94% vs AZBIX's -40.80%.

Which has better risk-adjusted returns?

AZBIX currently has the higher Sharpe Ratio (2.27 vs 2.19), 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.