SIRIX vs. GIPIX

Last updated Jun 24, 2026

SIRIX (Sierra Tactical All Asset Fund) and GIPIX (Goldman Sachs Balanced Strategy Portfolio) are both Tactical Allocation funds. Over the past 10 years, SIRIX returned 2.77%/yr vs 6.31%/yr for GIPIX. A 0.57 correlation means they provide meaningful diversification when combined. SIRIX charges 1.70%/yr vs 0.19%/yr for GIPIX.

Performance

SIRIX vs. GIPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sierra Tactical All Asset Fund (SIRIX) and Goldman Sachs Balanced Strategy Portfolio (GIPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIRIX achieves a 5.10% return, which is significantly lower than GIPIX's 5.42% return. Over the past 10 years, SIRIX has underperformed GIPIX with an annualized return of 2.77%, while GIPIX has yielded a comparatively higher 6.31% annualized return.

SIRIX

• 1D: 0.04%
• 1M: 1.15%
• YTD: 5.10%
• 6M: 4.74%
• 1Y: 12.14%
• 3Y*: 6.31%
• 5Y*: 1.88%
• 10Y*: 2.77%

GIPIX

• 1D: -0.08%
• 1M: 1.22%
• YTD: 5.42%
• 6M: 5.23%
• 1Y: 14.15%
• 3Y*: 10.49%
• 5Y*: 4.64%
• 10Y*: 6.31%

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

SIRIX vs. GIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIRIX Sierra Tactical All Asset Fund	5.10%	4.74%	4.90%	4.17%	-6.82%	0.48%	4.81%	7.71%	-4.24%	7.45%
GIPIX Goldman Sachs Balanced Strategy Portfolio	5.42%	10.80%	8.51%	12.49%	-14.43%	7.94%	11.09%	15.68%	-6.52%	11.63%

Correlation

The correlation between SIRIX and GIPIX 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.57

Over the past year, SIRIX and GIPIX have become more correlated (0.96) than their long-term average of 0.57, meaning their price movements have been converging.

Return for Risk

SIRIX vs. GIPIX — Risk / Return Rank

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

SIRIX

SIRIX Risk / Return Rank: 45
SIRIX Sharpe Ratio Rank: 47
SIRIX Sortino Ratio Rank: 44
SIRIX Omega Ratio Rank: 50
SIRIX Calmar Ratio Rank: 42
SIRIX Martin Ratio Rank: 43

GIPIX

GIPIX Risk / Return Rank: 63
GIPIX Sharpe Ratio Rank: 65
GIPIX Sortino Ratio Rank: 67
GIPIX Omega Ratio Rank: 69
GIPIX Calmar Ratio Rank: 53
GIPIX 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.

SIRIX vs. GIPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sierra Tactical All Asset Fund (SIRIX) and Goldman Sachs Balanced Strategy Portfolio (GIPIX). 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.

	SIRIX	GIPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.18	-0.31
Sortino ratio: Return per unit of downside risk	2.57	3.11	-0.54
Omega ratio: Gain probability vs. loss probability	1.36	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	2.34	2.67	-0.33
Martin ratio: Return relative to average drawdown	8.55	11.51	-2.96

SIRIX vs. GIPIX - Sharpe Ratio Comparison

The current SIRIX Sharpe Ratio is 1.87, which is comparable to the GIPIX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of SIRIX and GIPIX, 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

SIRIX vs. GIPIX - Drawdown Comparison

The maximum SIRIX drawdown since its inception was -11.31%, smaller than the maximum GIPIX drawdown of -29.46%. Use the drawdown chart below to compare losses from any high point for SIRIX and GIPIX.

Drawdown Indicators

	SIRIX	GIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-29.46%	+18.15%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-5.59%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-7.99%	-9.11%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-11.30%	-20.65%	+9.35%
Max Drawdown (10Y) Largest decline over 10 years	-11.31%	-20.65%	+9.34%
Current Drawdown Current decline from peak	-0.50%	-0.15%	-0.35%
Average Drawdown Average peak-to-trough decline	-2.43%	-3.68%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.29%	+0.18%

Volatility

SIRIX vs. GIPIX - Volatility Comparison

Sierra Tactical All Asset Fund (SIRIX) has a higher volatility of 3.36% compared to Goldman Sachs Balanced Strategy Portfolio (GIPIX) at 2.58%. This indicates that SIRIX's price experiences larger fluctuations and is considered to be riskier than GIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIRIX	GIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	2.58%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	5.81%	5.75%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	6.78%	6.85%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.34%	8.06%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.21%	8.14%	-3.93%

SIRIX vs. GIPIX - Expense Ratio Comparison

SIRIX has a 1.70% expense ratio, which is higher than GIPIX's 0.19% expense ratio.

Dividends

SIRIX vs. GIPIX - Dividend Comparison

SIRIX's dividend yield for the trailing twelve months is around 2.59%, less than GIPIX's 5.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIPIX Goldman Sachs Balanced Strategy Portfolio	5.51%	5.22%	4.06%	2.12%	4.56%	6.37%	2.25%	2.51%	4.70%	4.51%	1.46%	5.73%
SIRIX Sierra Tactical All Asset Fund	2.59%	2.65%	2.88%	2.71%	1.59%	2.52%	1.37%	2.51%	2.23%	2.41%	2.15%	2.53%

Frequently Asked Questions

Can I hold both SIRIX and GIPIX in my portfolio?

With a correlation of 0.96, SIRIX and GIPIX 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, SIRIX or GIPIX?

SIRIX has higher volatility (3.36%) compared to GIPIX (2.58%). In terms of maximum drawdown, SIRIX dropped -11.31% vs GIPIX's -29.46%.

Which has better risk-adjusted returns?

GIPIX currently has the higher Sharpe Ratio (2.18 vs 1.87), 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.