SMARX vs. GSGDX
Compare and contrast key facts about Brandes Separately Managed Account Reserve Trust (SMARX) and Goldman Sachs Investment Grade Credit Fund (GSGDX).
SMARX is managed by BlackRock. It was launched on Oct 3, 2005. GSGDX is managed by Goldman Sachs. It was launched on Nov 3, 2003.
Performance
SMARX vs. GSGDX - Performance Comparison
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SMARX vs. GSGDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | -0.30% | 6.91% | 3.73% | 9.76% | -11.77% | 0.76% | 6.55% | 7.77% | -1.13% | 4.75% |
GSGDX Goldman Sachs Investment Grade Credit Fund | -1.55% | 8.23% | 1.93% | 8.81% | -17.33% | -0.97% | 10.12% | 16.83% | -2.55% | 6.49% |
Returns By Period
In the year-to-date period, SMARX achieves a -0.30% return, which is significantly higher than GSGDX's -1.55% return. Over the past 10 years, SMARX has outperformed GSGDX with an annualized return of 3.34%, while GSGDX has yielded a comparatively lower 2.78% annualized return.
SMARX
- 1D
- 0.64%
- 1M
- -1.99%
- YTD
- -0.30%
- 6M
- 0.49%
- 1Y
- 3.99%
- 3Y*
- 5.18%
- 5Y*
- 1.98%
- 10Y*
- 3.34%
GSGDX
- 1D
- 0.50%
- 1M
- -3.03%
- YTD
- -1.55%
- 6M
- -0.62%
- 1Y
- 3.97%
- 3Y*
- 4.21%
- 5Y*
- 0.35%
- 10Y*
- 2.78%
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SMARX vs. GSGDX - Expense Ratio Comparison
SMARX has a 0.00% expense ratio, which is lower than GSGDX's 0.38% expense ratio.
Return for Risk
SMARX vs. GSGDX — Risk / Return Rank
SMARX
GSGDX
SMARX vs. GSGDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Brandes Separately Managed Account Reserve Trust (SMARX) and Goldman Sachs Investment Grade Credit Fund (GSGDX). 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.
| SMARX | GSGDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.14 | 0.90 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.63 | 1.25 | +0.38 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.37 | +0.52 |
Martin ratioReturn relative to average drawdown | 6.07 | 4.55 | +1.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMARX | GSGDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.90 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.05 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.44 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.65 | -0.24 |
Correlation
The correlation between SMARX and GSGDX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SMARX vs. GSGDX - Dividend Comparison
SMARX's dividend yield for the trailing twelve months is around 4.71%, more than GSGDX's 4.46% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMARX Brandes Separately Managed Account Reserve Trust | 4.71% | 5.02% | 4.07% | 3.85% | 3.53% | 2.57% | 3.35% | 4.19% | 4.55% | 4.20% | 4.87% | 5.24% |
GSGDX Goldman Sachs Investment Grade Credit Fund | 4.46% | 4.75% | 3.94% | 3.52% | 2.74% | 5.10% | 4.18% | 5.89% | 3.56% | 3.19% | 3.38% | 3.76% |
Drawdowns
SMARX vs. GSGDX - Drawdown Comparison
The maximum SMARX drawdown since its inception was -47.07%, which is greater than GSGDX's maximum drawdown of -23.48%. Use the drawdown chart below to compare losses from any high point for SMARX and GSGDX.
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Drawdown Indicators
| SMARX | GSGDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.07% | -23.48% | -23.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -3.59% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -16.20% | -23.48% | +7.28% |
Max Drawdown (10Y)Largest decline over 10 years | -16.20% | -23.48% | +7.28% |
Current DrawdownCurrent decline from peak | -1.99% | -3.53% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -3.89% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.08% | -0.26% |
Volatility
SMARX vs. GSGDX - Volatility Comparison
The current volatility for Brandes Separately Managed Account Reserve Trust (SMARX) is 1.66%, while Goldman Sachs Investment Grade Credit Fund (GSGDX) has a volatility of 1.92%. This indicates that SMARX experiences smaller price fluctuations and is considered to be less risky than GSGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMARX | GSGDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.92% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 2.93% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 5.05% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.12% | 6.82% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 6.38% | -2.01% |