SMLPX vs. GAMPX

Last updated Aug 4, 2026

SMLPX (Salient MLP & Energy Infrastructure Fund) and GAMPX (Goldman Sachs Energy Infrastructure Fund Class P) are both Infrastructure Equities funds. Over the past 5 years, SMLPX returned 18.74%/yr vs 25.11%/yr for GAMPX. Their 0.97 correlation means they have historically moved very closely together. SMLPX charges 1.35%/yr vs 1.11%/yr for GAMPX.

Performance

SMLPX vs. GAMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Salient MLP & Energy Infrastructure Fund (SMLPX) and Goldman Sachs Energy Infrastructure Fund Class P (GAMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMLPX achieves a 23.21% return, which is significantly lower than GAMPX's 26.95% return.

SMLPX

• 1D: 0.64%
• 1M: 2.38%
• 6M: 16.03%
• YTD: 23.21%
• 1Y: 24.42%
• 3Y*: 23.44%
• 5Y*: 18.74%
• 10Y*: 9.61%
• ALL TIME*: 6.74%

GAMPX

• 1D: 0.43%
• 1M: 3.51%
• 6M: 19.67%
• YTD: 26.95%
• 1Y: 29.64%
• 3Y*: 30.89%
• 5Y*: 25.11%
• 10Y*: —
• ALL TIME*: 16.03%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	$0.00	$0.00	$0.00
SMLPX Salient MLP & Energy Infrastructure Fund	$0.00	$0.00	$0.00

SMLPX vs. GAMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SMLPX Salient MLP & Energy Infrastructure Fund	23.21%	5.22%	37.87%	14.06%	14.69%	22.69%	-17.25%	16.36%	-11.09%
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	26.95%	5.43%	58.40%	15.11%	19.15%	38.33%	-17.23%	17.00%	-12.69%

Correlation

The correlation between SMLPX and GAMPX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since May 7, 2018	0.97

The correlation between SMLPX and GAMPX has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

SMLPX vs. GAMPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMLPX

SMLPX Risk / Return Rank: 68
SMLPX Sharpe Ratio Rank: 68
SMLPX Sortino Ratio Rank: 66
SMLPX Omega Ratio Rank: 58
SMLPX Calmar Ratio Rank: 91
SMLPX Martin Ratio Rank: 59

GAMPX

GAMPX Risk / Return Rank: 79
GAMPX Sharpe Ratio Rank: 81
GAMPX Sortino Ratio Rank: 77
GAMPX Omega Ratio Rank: 73
GAMPX Calmar Ratio Rank: 94
GAMPX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMLPX vs. GAMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Salient MLP & Energy Infrastructure Fund (SMLPX) and Goldman Sachs Energy Infrastructure Fund Class P (GAMPX). 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.

	SMLPX	GAMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.98	-0.29
Sortino ratio: Return per unit of downside risk	2.40	2.72	-0.32
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	3.63	4.07	-0.44
Martin ratio: Return relative to average drawdown	8.35	9.25	-0.90

SMLPX vs. GAMPX - Sharpe Ratio Comparison

The current SMLPX Sharpe Ratio is 1.69, which is comparable to the GAMPX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of SMLPX and GAMPX, 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

SMLPX vs. GAMPX - Drawdown Comparison

The maximum SMLPX drawdown since its inception was -73.06%, which is greater than GAMPX's maximum drawdown of -59.18%. Use the drawdown chart below to compare losses from any high point for SMLPX and GAMPX.

Drawdown Indicators

	SMLPX	GAMPX	Difference
Max Drawdown Largest peak-to-trough decline	-73.06%	-59.18%	-13.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-7.23%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-17.08%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-21.32%	-21.97%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	-60.49%	—	—
Current Drawdown Current decline from peak	-2.87%	-2.58%	-0.29%
Average Drawdown Average peak-to-trough decline	-26.85%	-8.44%	-18.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	3.17%	-0.32%

Volatility

SMLPX vs. GAMPX - Volatility Comparison

Salient MLP & Energy Infrastructure Fund (SMLPX) and Goldman Sachs Energy Infrastructure Fund Class P (GAMPX) have volatilities of 5.00% and 5.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMLPX	GAMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	5.26%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	11.24%	11.87%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	14.88%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	20.48%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.02%	25.69%	-1.67%

SMLPX vs. GAMPX - Expense Ratio Comparison

SMLPX has a 1.35% expense ratio, which is higher than GAMPX's 1.11% expense ratio.

Dividends

SMLPX vs. GAMPX - Dividend Comparison

SMLPX's dividend yield for the trailing twelve months is around 3.68%, less than GAMPX's 8.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAMPX Goldman Sachs Energy Infrastructure Fund Class P	8.26%	10.13%	25.55%	10.34%	4.76%	8.54%	4.33%	4.99%	3.75%	0.00%	0.00%	0.00%
SMLPX Salient MLP & Energy Infrastructure Fund	3.68%	4.45%	4.48%	5.75%	2.19%	3.69%	5.82%	4.54%	6.21%	6.09%	6.31%	8.63%

Frequently Asked Questions

Can I hold both SMLPX and GAMPX in my portfolio?

With a correlation of 0.97, SMLPX and GAMPX 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, SMLPX or GAMPX?

GAMPX has higher volatility (5.26%) compared to SMLPX (5.00%). In terms of maximum drawdown, SMLPX dropped -73.06% vs GAMPX's -59.18%.

Which has better risk-adjusted returns?

GAMPX currently has the higher Sharpe Ratio (1.98 vs 1.69), 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.