SHRIX vs. GIMMX

Last updated Jun 3, 2026

SHRIX (Stone Ridge High Yield Reinsurance Risk Premium Fund Class I) and GIMMX (Goldman Sachs Multi-Manager Alternatives Fund) are both Multistrategy funds. Over the past 5 years, SHRIX returned 9.03%/yr vs 3.58%/yr for GIMMX. At a correlation of -0.01, they often move in opposite directions. SHRIX charges 1.76%/yr vs 1.93%/yr for GIMMX.

Performance

SHRIX vs. GIMMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and Goldman Sachs Multi-Manager Alternatives Fund (GIMMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHRIX achieves a 1.46% return, which is significantly lower than GIMMX's 7.39% return.

SHRIX

• 1D: 0.11%
• 1M: 0.78%
• YTD: 1.46%
• 6M: 2.18%
• 1Y: 12.44%
• 3Y*: 13.31%
• 5Y*: 9.03%
• 10Y*: —

GIMMX

• 1D: 0.35%
• 1M: 2.02%
• YTD: 7.39%
• 6M: 8.23%
• 1Y: 15.99%
• 3Y*: 6.98%
• 5Y*: 3.58%
• 10Y*: 3.37%

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

SHRIX vs. GIMMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	1.46%	10.70%	16.73%	21.07%	-3.37%	1.88%	6.86%	4.58%	2.81%	-7.49%
GIMMX Goldman Sachs Multi-Manager Alternatives Fund	7.39%	15.44%	-4.85%	2.78%	-4.72%	6.14%	6.45%	7.60%	-3.51%	-0.00%

Correlation

The correlation between SHRIX and GIMMX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017	-0.01

Return for Risk

SHRIX vs. GIMMX — Risk / Return Rank

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

SHRIX

SHRIX Risk / Return Rank: 98
SHRIX Sharpe Ratio Rank: 99
SHRIX Sortino Ratio Rank: 97
SHRIX Omega Ratio Rank: 100
SHRIX Calmar Ratio Rank: 97
SHRIX Martin Ratio Rank: 96

GIMMX

GIMMX Risk / Return Rank: 57
GIMMX Sharpe Ratio Rank: 45
GIMMX Sortino Ratio Rank: 44
GIMMX Omega Ratio Rank: 52
GIMMX Calmar Ratio Rank: 83
GIMMX Martin Ratio Rank: 62

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.

SHRIX vs. GIMMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and Goldman Sachs Multi-Manager Alternatives Fund (GIMMX). 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.

	SHRIX	GIMMX	Difference
Sharpe ratio Return per unit of total volatility	5.33	1.98	+3.35
Sortino ratio Return per unit of downside risk	6.16	2.81	+3.36
Omega ratio Gain probability vs. loss probability	4.93	1.40	+3.54
Calmar ratio Return relative to maximum drawdown	6.71	3.85	+2.86
Martin ratio Return relative to average drawdown	23.55	12.33	+11.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHRIX vs. GIMMX - Sharpe Ratio Comparison

The current SHRIX Sharpe Ratio is 5.33, which is higher than the GIMMX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of SHRIX and GIMMX, 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

	SHRIX	GIMMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.33	1.98	+3.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.45	0.62	+0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.50	+0.43

Drawdowns

SHRIX vs. GIMMX - Drawdown Comparison

The maximum SHRIX drawdown since its inception was -14.34%, which is greater than GIMMX's maximum drawdown of -12.67%. Use the drawdown chart below to compare losses from any high point for SHRIX and GIMMX.

Drawdown Indicators

	SHRIX	GIMMX	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-12.67%	-1.67%
Max Drawdown (1Y) Largest decline over 1 year	-1.87%	-4.18%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-6.91%	-10.74%	+3.83%
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	-12.67%	-0.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-12.67%	—
Current Drawdown Current decline from peak	-0.44%	-0.43%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.06%	-4.19%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	1.31%	-0.78%

Volatility

SHRIX vs. GIMMX - Volatility Comparison

The current volatility for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) is 0.25%, while Goldman Sachs Multi-Manager Alternatives Fund (GIMMX) has a volatility of 1.39%. This indicates that SHRIX experiences smaller price fluctuations and is considered to be less risky than GIMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRIX	GIMMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	1.39%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	2.03%	5.78%	-3.75%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	8.38%	-6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	5.83%	+0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.29%	5.46%	+0.83%

SHRIX vs. GIMMX - Expense Ratio Comparison

SHRIX has a 1.76% expense ratio, which is lower than GIMMX's 1.93% expense ratio.

Dividends

SHRIX vs. GIMMX - Dividend Comparison

SHRIX's dividend yield for the trailing twelve months is around 10.77%, more than GIMMX's 7.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIMMX Goldman Sachs Multi-Manager Alternatives Fund	7.80%	8.38%	5.08%	3.43%	0.42%	0.00%	0.00%	0.97%	0.00%	0.00%	1.83%	0.72%
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	10.77%	10.92%	14.34%	12.34%	3.89%	4.61%	6.34%	5.06%	5.09%	0.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHRIX and GIMMX in my portfolio?

SHRIX and GIMMX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHRIX or GIMMX?

GIMMX has higher volatility (1.39%) compared to SHRIX (0.25%). In terms of maximum drawdown, SHRIX dropped -14.34% vs GIMMX's -12.67%.

Which has better risk-adjusted returns?

SHRIX currently has the higher Sharpe Ratio (5.33 vs 1.98), 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.