RWAY vs. GS

Last updated Jun 3, 2026

RWAY (Runway Growth Finance Corp.) and GS (The Goldman Sachs Group, Inc.) are both stocks. Both are in the Financial Services sector — RWAY in Credit Services, GS in Capital Markets. Over the past 3 years, RWAY returned -4.49%/yr vs 52.24%/yr for GS. At a 0.31 correlation, their price movements are largely independent.

Performance

RWAY vs. GS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Runway Growth Finance Corp. (RWAY) and The Goldman Sachs Group, Inc. (GS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWAY achieves a -19.82% return, which is significantly lower than GS's 22.29% return.

RWAY

• 1D: -0.31%
• 1M: 0.15%
• YTD: -19.82%
• 6M: -21.75%
• 1Y: -22.45%
• 3Y*: -4.49%
• 5Y*: —
• 10Y*: —

GS

• 1D: 1.53%
• 1M: 15.76%
• YTD: 22.29%
• 6M: 31.86%
• 1Y: 81.39%
• 3Y*: 52.24%
• 5Y*: 25.32%
• 10Y*: 23.72%

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

RWAY vs. GS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWAY Runway Growth Finance Corp.	-19.82%	-6.56%	1.65%	25.73%	-0.61%	1.38%
GS The Goldman Sachs Group, Inc.	22.29%	56.64%	52.03%	15.91%	-7.87%	-5.65%

Correlation

The correlation between RWAY and GS is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 22, 2021	0.31

Fundamentals

Market Cap RWAY : $235.59M GS : $327.89B
EPS RWAY : $0.88 GS : $57.41
PE Ratio RWAY : 7.40 GS : 18.54
PEG Ratio RWAY : 1.48 GS : 2.40
PS Ratio RWAY : 2.15 GS : 3.02
PB Ratio RWAY : 0.54 GS : 2.67
Total Revenue (TTM) RWAY : $110.63M GS : $110.77B
Gross Profit (TTM) RWAY : $105.16M GS : $61.53B
EBITDA (TTM) RWAY : $74.86M GS : $24.94B

Return for Risk

RWAY vs. GS — Risk / Return Rank

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

RWAY

RWAY Risk / Return Rank: 11
RWAY Sharpe Ratio Rank: 6
RWAY Sortino Ratio Rank: 8
RWAY Omega Ratio Rank: 9
RWAY Calmar Ratio Rank: 18
RWAY Martin Ratio Rank: 13

GS

GS Risk / Return Rank: 92
GS Sharpe Ratio Rank: 94
GS Sortino Ratio Rank: 92
GS Omega Ratio Rank: 92
GS Calmar Ratio Rank: 88
GS Martin Ratio Rank: 92

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.

RWAY vs. GS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Runway Growth Finance Corp. (RWAY) and The Goldman Sachs Group, Inc. (GS). 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.

	RWAY	GS	Difference
Sharpe ratio Return per unit of total volatility	-0.92	3.02	-3.94
Sortino ratio Return per unit of downside risk	-1.23	3.62	-4.85
Omega ratio Gain probability vs. loss probability	0.86	1.48	-0.62
Calmar ratio Return relative to maximum drawdown	-0.62	4.16	-4.78
Martin ratio Return relative to average drawdown	-1.21	13.99	-15.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWAY vs. GS - Sharpe Ratio Comparison

The current RWAY Sharpe Ratio is -0.92, which is lower than the GS Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of RWAY and GS, 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

	RWAY	GS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.92	3.02	-3.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.34	-0.36

Drawdowns

RWAY vs. GS - Drawdown Comparison

The maximum RWAY drawdown since its inception was -36.90%, smaller than the maximum GS drawdown of -78.84%. Use the drawdown chart below to compare losses from any high point for RWAY and GS.

Drawdown Indicators

	RWAY	GS	Difference
Max Drawdown Largest peak-to-trough decline	-36.90%	-78.84%	+41.94%
Max Drawdown (1Y) Largest decline over 1 year	-36.90%	-19.42%	-17.48%
Max Drawdown (3Y) Largest decline over 3 years	-36.90%	-30.90%	-6.00%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.75%	—
Current Drawdown Current decline from peak	-32.25%	0.00%	-32.25%
Average Drawdown Average peak-to-trough decline	-10.59%	-22.63%	+12.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.89%	5.78%	+13.11%

Volatility

RWAY vs. GS - Volatility Comparison

The current volatility for Runway Growth Finance Corp. (RWAY) is 7.16%, while The Goldman Sachs Group, Inc. (GS) has a volatility of 8.10%. This indicates that RWAY experiences smaller price fluctuations and is considered to be less risky than GS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWAY	GS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	8.10%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	20.21%	22.02%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	24.42%	27.14%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.38%	27.85%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.38%	29.76%	-1.38%

Dividends

RWAY vs. GS - Dividend Comparison

RWAY's dividend yield for the trailing twelve months is around 20.71%, more than GS's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GS The Goldman Sachs Group, Inc.	1.60%	1.59%	2.01%	2.72%	2.62%	1.70%	1.90%	1.80%	1.89%	1.14%	1.09%	1.41%
RWAY Runway Growth Finance Corp.	20.71%	15.68%	16.33%	14.34%	10.87%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

RWAY vs. GS - Profitability Comparison

The chart below illustrates the profitability comparison between Runway Growth Finance Corp. and The Goldman Sachs Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

RWAY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Runway Growth Finance Corp. reported a gross profit of 0.00 and revenue of 29.45M. Therefore, the gross margin over that period was 0.0%.

GS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported a gross profit of 16.91B and revenue of 17.23B. Therefore, the gross margin over that period was 98.2%.

RWAY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Runway Growth Finance Corp. reported an operating income of 0.00 and revenue of 29.45M, resulting in an operating margin of 0.0%.

GS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported an operating income of 6.49B and revenue of 17.23B, resulting in an operating margin of 37.7%.

RWAY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Runway Growth Finance Corp. reported a net income of 0.00 and revenue of 29.45M, resulting in a net margin of 0.0%.

GS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Goldman Sachs Group, Inc. reported a net income of 5.63B and revenue of 17.23B, resulting in a net margin of 32.7%.

Frequently Asked Questions

Can I hold both RWAY and GS in my portfolio?

RWAY and GS have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWAY or GS?

GS has higher volatility (8.10%) compared to RWAY (7.16%). In terms of maximum drawdown, RWAY dropped -36.90% vs GS's -78.84%.

Which has better risk-adjusted returns?

GS currently has the higher Sharpe Ratio (3.02 vs -0.92), 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.