GSUIX vs. FUMBX

Last updated Jun 4, 2026

GSUIX (Goldman Sachs U.S. Mortgages Fund) and FUMBX (Fidelity Short-Term Treasury Bond Index Fund) are both Government Bonds funds. Over the past 5 years, GSUIX returned -0.22%/yr vs 1.31%/yr for FUMBX. A 0.80 correlation means they provide meaningful diversification when combined. GSUIX charges 0.45%/yr vs 0.03%/yr for FUMBX.

Performance

GSUIX vs. FUMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs U.S. Mortgages Fund (GSUIX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSUIX achieves a 0.52% return, which is significantly higher than FUMBX's 0.19% return.

GSUIX

• 1D: 0.00%
• 1M: 0.41%
• YTD: 0.52%
• 6M: 0.68%
• 1Y: 6.68%
• 3Y*: 3.95%
• 5Y*: -0.22%
• 10Y*: 1.19%

FUMBX

• 1D: 0.00%
• 1M: 0.07%
• YTD: 0.19%
• 6M: 0.46%
• 1Y: 3.39%
• 3Y*: 4.03%
• 5Y*: 1.31%
• 10Y*: —

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

GSUIX vs. FUMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSUIX Goldman Sachs U.S. Mortgages Fund	0.52%	8.31%	0.61%	4.51%	-13.09%	-1.35%	5.79%	6.39%	0.72%	0.09%
FUMBX Fidelity Short-Term Treasury Bond Index Fund	0.19%	5.83%	3.25%	4.47%	-5.84%	-1.38%	4.22%	4.19%	1.47%	-0.33%

Correlation

The correlation between GSUIX and FUMBX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 20, 2017	0.80

The correlation between GSUIX and FUMBX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

GSUIX vs. FUMBX — Risk / Return Rank

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

GSUIX

GSUIX Risk / Return Rank: 32
GSUIX Sharpe Ratio Rank: 31
GSUIX Sortino Ratio Rank: 33
GSUIX Omega Ratio Rank: 31
GSUIX Calmar Ratio Rank: 33
GSUIX Martin Ratio Rank: 29

FUMBX

FUMBX Risk / Return Rank: 36
FUMBX Sharpe Ratio Rank: 33
FUMBX Sortino Ratio Rank: 40
FUMBX Omega Ratio Rank: 40
FUMBX Calmar Ratio Rank: 34
FUMBX Martin Ratio Rank: 30

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.

GSUIX vs. FUMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs U.S. Mortgages Fund (GSUIX) and Fidelity Short-Term Treasury Bond Index Fund (FUMBX). 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.

	GSUIX	FUMBX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.65	-0.05
Sortino ratio: Return per unit of downside risk	2.39	2.66	-0.27
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.04
Calmar ratio: Return relative to maximum drawdown	2.14	2.22	-0.07
Martin ratio: Return relative to average drawdown	6.85	7.08	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSUIX vs. FUMBX - Sharpe Ratio Comparison

The current GSUIX Sharpe Ratio is 1.61, which is comparable to the FUMBX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of GSUIX and FUMBX, 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

	GSUIX	FUMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.65	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.45	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.73	-0.04

Drawdowns

GSUIX vs. FUMBX - Drawdown Comparison

The maximum GSUIX drawdown since its inception was -19.29%, which is greater than FUMBX's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for GSUIX and FUMBX.

Drawdown Indicators

	GSUIX	FUMBX	Difference
Max Drawdown Largest peak-to-trough decline	-19.29%	-8.83%	-10.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-1.54%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-7.75%	-1.57%	-6.18%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-8.60%	-10.34%
Max Drawdown (10Y) Largest decline over 10 years	-19.29%	—	—
Current Drawdown Current decline from peak	-2.26%	-0.77%	-1.49%
Average Drawdown Average peak-to-trough decline	-2.62%	-1.86%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.48%	+0.50%

Volatility

GSUIX vs. FUMBX - Volatility Comparison

Goldman Sachs U.S. Mortgages Fund (GSUIX) has a higher volatility of 1.60% compared to Fidelity Short-Term Treasury Bond Index Fund (FUMBX) at 0.69%. This indicates that GSUIX's price experiences larger fluctuations and is considered to be riskier than FUMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSUIX	FUMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	0.69%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	1.49%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	4.21%	2.06%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.60%	2.92%	+3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	2.49%	+2.54%

GSUIX vs. FUMBX - Expense Ratio Comparison

GSUIX has a 0.45% expense ratio, which is higher than FUMBX's 0.03% expense ratio.

Dividends

GSUIX vs. FUMBX - Dividend Comparison

GSUIX's dividend yield for the trailing twelve months is around 4.02%, more than FUMBX's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUMBX Fidelity Short-Term Treasury Bond Index Fund	3.76%	3.51%	2.91%	1.64%	0.86%	1.15%	1.41%	1.88%	1.64%	0.34%	0.00%	0.00%
GSUIX Goldman Sachs U.S. Mortgages Fund	4.02%	4.01%	3.45%	3.14%	1.87%	1.67%	2.88%	3.26%	2.94%	2.58%	2.65%	2.77%

Frequently Asked Questions

Can I hold both GSUIX and FUMBX in my portfolio?

GSUIX and FUMBX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSUIX or FUMBX?

GSUIX has higher volatility (1.60%) compared to FUMBX (0.69%). In terms of maximum drawdown, GSUIX dropped -19.29% vs FUMBX's -8.83%.

Which has better risk-adjusted returns?

FUMBX currently has the higher Sharpe Ratio (1.65 vs 1.61), 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.