GSUIX vs. VSBSX

Last updated Jun 4, 2026

GSUIX (Goldman Sachs U.S. Mortgages Fund) and VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) are both Government Bonds funds. Over the past 10 years, GSUIX returned 1.19%/yr vs 1.75%/yr for VSBSX. A 0.69 correlation means they provide meaningful diversification when combined. GSUIX charges 0.45%/yr vs 0.07%/yr for VSBSX.

Performance

GSUIX vs. VSBSX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with GSUIX having a 0.52% return and VSBSX slightly lower at 0.51%. Over the past 10 years, GSUIX has underperformed VSBSX with an annualized return of 1.19%, while VSBSX has yielded a comparatively higher 1.75% annualized 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%

VSBSX

• 1D: 0.00%
• 1M: 0.11%
• YTD: 0.51%
• 6M: 0.78%
• 1Y: 3.46%
• 3Y*: 4.28%
• 5Y*: 1.87%
• 10Y*: 1.75%

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

GSUIX vs. VSBSX - 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%	1.82%
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares	0.51%	5.08%	4.39%	4.23%	-3.87%	-0.69%	3.09%	3.51%	1.52%	0.35%

Correlation

The correlation between GSUIX and VSBSX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009	0.69

The correlation between GSUIX and VSBSX shifts across timeframes, from 0.69 (all time) to 0.80 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GSUIX vs. VSBSX — 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

VSBSX

VSBSX Risk / Return Rank: 86
VSBSX Sharpe Ratio Rank: 83
VSBSX Sortino Ratio Rank: 90
VSBSX Omega Ratio Rank: 85
VSBSX Calmar Ratio Rank: 86
VSBSX Martin Ratio Rank: 87

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. VSBSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs U.S. Mortgages Fund (GSUIX) and Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX). 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	VSBSX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.68	-1.07
Sortino ratio: Return per unit of downside risk	2.39	4.40	-2.00
Omega ratio: Gain probability vs. loss probability	1.29	1.57	-0.28
Calmar ratio: Return relative to maximum drawdown	2.14	4.09	-1.95
Martin ratio: Return relative to average drawdown	6.85	16.89	-10.04
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. VSBSX - Sharpe Ratio Comparison

The current GSUIX Sharpe Ratio is 1.61, which is lower than the VSBSX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of GSUIX and VSBSX, 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	VSBSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.68	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.96	-1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	1.14	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.07	-0.39

Drawdowns

GSUIX vs. VSBSX - Drawdown Comparison

The maximum GSUIX drawdown since its inception was -19.29%, which is greater than VSBSX's maximum drawdown of -5.77%. Use the drawdown chart below to compare losses from any high point for GSUIX and VSBSX.

Drawdown Indicators

	GSUIX	VSBSX	Difference
Max Drawdown Largest peak-to-trough decline	-19.29%	-5.77%	-13.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-0.84%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-7.75%	-0.84%	-6.91%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-5.77%	-13.17%
Max Drawdown (10Y) Largest decline over 10 years	-19.29%	-5.77%	-13.52%
Current Drawdown Current decline from peak	-2.26%	-0.21%	-2.05%
Average Drawdown Average peak-to-trough decline	-2.62%	-0.59%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.20%	+0.78%

Volatility

GSUIX vs. VSBSX - Volatility Comparison

Goldman Sachs U.S. Mortgages Fund (GSUIX) has a higher volatility of 1.60% compared to Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) at 0.37%. This indicates that GSUIX's price experiences larger fluctuations and is considered to be riskier than VSBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSUIX	VSBSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	0.37%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	0.87%	+2.21%
Volatility (1Y) Calculated over the trailing 1-year period	4.21%	1.28%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.60%	1.95%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	1.54%	+3.49%

GSUIX vs. VSBSX - Expense Ratio Comparison

GSUIX has a 0.45% expense ratio, which is higher than VSBSX's 0.07% expense ratio.

Dividends

GSUIX vs. VSBSX - Dividend Comparison

GSUIX's dividend yield for the trailing twelve months is around 4.02%, more than VSBSX's 3.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares	3.84%	3.98%	4.50%	3.29%	1.12%	0.63%	1.72%	2.26%	1.80%	1.10%	0.76%	0.71%

Frequently Asked Questions

Can I hold both GSUIX and VSBSX in my portfolio?

GSUIX and VSBSX have a correlation of 0.80, 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 VSBSX?

GSUIX has higher volatility (1.60%) compared to VSBSX (0.37%). In terms of maximum drawdown, GSUIX dropped -19.29% vs VSBSX's -5.77%.

Which has better risk-adjusted returns?

VSBSX currently has the higher Sharpe Ratio (2.68 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.