PAFGX vs. GGSIX

Last updated Jun 4, 2026

PAFGX (T. Rowe Price Global Allocation Fund) and GGSIX (Goldman Sachs Growth Strategy Portfolio) are both Global Allocation funds. Over the past 10 years, PAFGX returned 7.94%/yr vs 11.36%/yr for GGSIX. With a 0.95 correlation, they move nearly in lockstep. PAFGX charges 1.02%/yr vs 0.19%/yr for GGSIX.

Performance

PAFGX vs. GGSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Allocation Fund (PAFGX) and Goldman Sachs Growth Strategy Portfolio (GGSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAFGX achieves a 7.43% return, which is significantly lower than GGSIX's 10.48% return. Over the past 10 years, PAFGX has underperformed GGSIX with an annualized return of 7.94%, while GGSIX has yielded a comparatively higher 11.36% annualized return.

PAFGX

• 1D: 0.35%
• 1M: 2.77%
• YTD: 7.43%
• 6M: 8.26%
• 1Y: 17.85%
• 3Y*: 13.17%
• 5Y*: 5.81%
• 10Y*: 7.94%

GGSIX

• 1D: 0.31%
• 1M: 4.93%
• YTD: 10.48%
• 6M: 11.32%
• 1Y: 25.82%
• 3Y*: 19.75%
• 5Y*: 10.29%
• 10Y*: 11.36%

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

PAFGX vs. GGSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAFGX T. Rowe Price Global Allocation Fund	7.43%	14.75%	9.43%	13.48%	-14.80%	8.83%	14.45%	19.91%	-7.15%	15.77%
GGSIX Goldman Sachs Growth Strategy Portfolio	10.48%	19.29%	19.26%	17.83%	-16.86%	17.04%	14.34%	24.92%	-10.65%	21.54%

Correlation

The correlation between PAFGX and GGSIX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013	0.96

The correlation between PAFGX and GGSIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

PAFGX vs. GGSIX — Risk / Return Rank

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

PAFGX

PAFGX Risk / Return Rank: 60
PAFGX Sharpe Ratio Rank: 63
PAFGX Sortino Ratio Rank: 62
PAFGX Omega Ratio Rank: 67
PAFGX Calmar Ratio Rank: 49
PAFGX Martin Ratio Rank: 57

GGSIX

GGSIX Risk / Return Rank: 66
GGSIX Sharpe Ratio Rank: 69
GGSIX Sortino Ratio Rank: 64
GGSIX Omega Ratio Rank: 64
GGSIX Calmar Ratio Rank: 63
GGSIX Martin Ratio Rank: 70

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.

PAFGX vs. GGSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Allocation Fund (PAFGX) and Goldman Sachs Growth Strategy Portfolio (GGSIX). 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.

	PAFGX	GGSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.42	-0.08
Sortino ratio: Return per unit of downside risk	3.32	3.35	-0.03
Omega ratio: Gain probability vs. loss probability	1.46	1.45	+0.01
Calmar ratio: Return relative to maximum drawdown	2.66	3.03	-0.37
Martin ratio: Return relative to average drawdown	11.57	13.48	-1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAFGX vs. GGSIX - Sharpe Ratio Comparison

The current PAFGX Sharpe Ratio is 2.34, which is comparable to the GGSIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of PAFGX and GGSIX, 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

	PAFGX	GGSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.42	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.77	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.80	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.47	+0.27

Drawdowns

PAFGX vs. GGSIX - Drawdown Comparison

The maximum PAFGX drawdown since its inception was -24.45%, smaller than the maximum GGSIX drawdown of -52.85%. Use the drawdown chart below to compare losses from any high point for PAFGX and GGSIX.

Drawdown Indicators

	PAFGX	GGSIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.45%	-52.85%	+28.40%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-8.71%	+1.92%
Max Drawdown (3Y) Largest decline over 3 years	-9.63%	-14.78%	+5.15%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	-26.74%	+4.74%
Max Drawdown (10Y) Largest decline over 10 years	-24.45%	-30.36%	+5.91%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.79%	-9.20%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	1.95%	-0.39%

Volatility

PAFGX vs. GGSIX - Volatility Comparison

The current volatility for T. Rowe Price Global Allocation Fund (PAFGX) is 2.46%, while Goldman Sachs Growth Strategy Portfolio (GGSIX) has a volatility of 3.21%. This indicates that PAFGX experiences smaller price fluctuations and is considered to be less risky than GGSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAFGX	GGSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	3.21%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	6.38%	8.69%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	7.74%	10.93%	-3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.47%	13.43%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.24%	14.33%	-4.09%

PAFGX vs. GGSIX - Expense Ratio Comparison

PAFGX has a 1.02% expense ratio, which is higher than GGSIX's 0.19% expense ratio.

Dividends

PAFGX vs. GGSIX - Dividend Comparison

PAFGX's dividend yield for the trailing twelve months is around 6.28%, less than GGSIX's 10.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGSIX Goldman Sachs Growth Strategy Portfolio	10.75%	11.87%	12.21%	1.73%	5.76%	6.57%	3.47%	5.77%	3.02%	2.77%	1.35%	2.03%
PAFGX T. Rowe Price Global Allocation Fund	6.28%	6.75%	5.00%	2.32%	2.74%	7.14%	0.79%	2.92%	2.26%	0.75%	0.36%	1.62%

Frequently Asked Questions

Can I hold both PAFGX and GGSIX in my portfolio?

With a correlation of 0.96, PAFGX and GGSIX 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, PAFGX or GGSIX?

GGSIX has higher volatility (3.21%) compared to PAFGX (2.46%). In terms of maximum drawdown, PAFGX dropped -24.45% vs GGSIX's -52.85%.

Which has better risk-adjusted returns?

GGSIX currently has the higher Sharpe Ratio (2.42 vs 2.34), 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.