GVEQX vs. GVMCX

Last updated Aug 5, 2026

GVEQX (Government Street Equity Fund) and GVMCX (Government Street Opportunities Fund) are both mutual funds - GVEQX is a Large Cap Growth Equities fund managed by Government Street, while GVMCX is a Mid Cap Blend Equities fund managed by Government Street. Over the past 10 years, GVEQX returned 15.34%/yr vs 13.26%/yr for GVMCX. Their correlation of 0.94 means they have usually moved in the same direction. GVEQX charges 0.85%/yr vs 1.03%/yr for GVMCX.

Performance

GVEQX vs. GVMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Government Street Equity Fund (GVEQX) and Government Street Opportunities Fund (GVMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVEQX achieves a 10.02% return, which is significantly lower than GVMCX's 12.60% return. Over the past 10 years, GVEQX has outperformed GVMCX with an annualized return of 15.34%, while GVMCX has yielded a comparatively lower 13.26% annualized return.

GVEQX

• 1D: 1.44%
• 1M: 1.73%
• 6M: 6.72%
• YTD: 10.02%
• 1Y: 17.48%
• 3Y*: 21.89%
• 5Y*: 13.29%
• 10Y*: 15.34%
• ALL TIME*: 9.29%

GVMCX

• 1D: 1.39%
• 1M: -0.31%
• 6M: 7.59%
• YTD: 12.60%
• 1Y: 17.77%
• 3Y*: 17.12%
• 5Y*: 10.59%
• 10Y*: 13.26%
• ALL TIME*: 10.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GVEQX Government Street Equity Fund	$0.00	$0.00	$0.00
GVMCX Government Street Opportunities Fund	$0.00	$0.00	$0.00

GVEQX vs. GVMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GVEQX Government Street Equity Fund	10.02%	19.40%	30.96%	20.83%	-17.25%	29.20%	22.30%	35.61%	-8.59%	22.41%
GVMCX Government Street Opportunities Fund	12.60%	14.52%	19.68%	15.19%	-14.16%	30.14%	17.99%	31.00%	-8.88%	20.22%

Correlation

The correlation between GVEQX and GVMCX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jan 2, 2004	0.94

The correlation between GVEQX and GVMCX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

GVEQX vs. GVMCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GVEQX

GVEQX Risk / Return Rank: 37
GVEQX Sharpe Ratio Rank: 35
GVEQX Sortino Ratio Rank: 32
GVEQX Omega Ratio Rank: 32
GVEQX Calmar Ratio Rank: 41
GVEQX Martin Ratio Rank: 46

GVMCX

GVMCX Risk / Return Rank: 43
GVMCX Sharpe Ratio Rank: 36
GVMCX Sortino Ratio Rank: 34
GVMCX Omega Ratio Rank: 34
GVMCX Calmar Ratio Rank: 56
GVMCX Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GVEQX vs. GVMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Government Street Equity Fund (GVEQX) and Government Street Opportunities Fund (GVMCX). 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.

	GVEQX	GVMCX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.31	-0.02
Sortino ratio: Return per unit of downside risk	1.82	1.85	-0.03
Omega ratio: Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio: Return relative to maximum drawdown	1.91	2.26	-0.34
Martin ratio: Return relative to average drawdown	7.36	8.41	-1.05

GVEQX vs. GVMCX - Sharpe Ratio Comparison

The current GVEQX Sharpe Ratio is 1.29, which is comparable to the GVMCX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of GVEQX and GVMCX, 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

GVEQX vs. GVMCX - Drawdown Comparison

The maximum GVEQX drawdown since its inception was -54.53%, which is greater than GVMCX's maximum drawdown of -47.77%. Use the drawdown chart below to compare losses from any high point for GVEQX and GVMCX.

Drawdown Indicators

	GVEQX	GVMCX	Difference
Max Drawdown Largest peak-to-trough decline	-54.53%	-47.77%	-6.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-8.72%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-18.29%	-1.12%
Max Drawdown (5Y) Largest decline over 5 years	-24.25%	-21.92%	-2.33%
Max Drawdown (10Y) Largest decline over 10 years	-32.85%	-34.67%	+1.82%
Current Drawdown Current decline from peak	-0.72%	-2.49%	+1.77%
Average Drawdown Average peak-to-trough decline	-8.62%	-5.66%	-2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.33%	+0.33%

Volatility

GVEQX vs. GVMCX - Volatility Comparison

Government Street Equity Fund (GVEQX) has a higher volatility of 4.74% compared to Government Street Opportunities Fund (GVMCX) at 4.41%. This indicates that GVEQX's price experiences larger fluctuations and is considered to be riskier than GVMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVEQX	GVMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	4.41%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	11.92%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	15.21%	15.05%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	16.80%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.95%	17.47%	+0.48%

GVEQX vs. GVMCX - Expense Ratio Comparison

GVEQX has a 0.85% expense ratio, which is lower than GVMCX's 1.03% expense ratio.

Dividends

GVEQX vs. GVMCX - Dividend Comparison

GVEQX's dividend yield for the trailing twelve months is around 3.19%, more than GVMCX's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GVEQX Government Street Equity Fund	3.19%	2.81%	3.40%	5.49%	3.26%	10.31%	6.92%	7.61%	4.77%	3.03%	3.31%	3.14%
GVMCX Government Street Opportunities Fund	2.07%	3.80%	5.42%	1.91%	4.43%	3.36%	3.35%	4.68%	2.00%	4.84%	4.54%	5.77%

Frequently Asked Questions

Can I hold both GVEQX and GVMCX in my portfolio?

With a correlation of 0.91, GVEQX and GVMCX 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, GVEQX or GVMCX?

GVEQX has higher volatility (4.74%) compared to GVMCX (4.41%). In terms of maximum drawdown, GVEQX dropped -54.53% vs GVMCX's -47.77%.

Which has better risk-adjusted returns?

GVMCX currently has the higher Sharpe Ratio (1.31 vs 1.29), 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.