GSACX Performance — Goldman Sachs China Equity Fund, Class C
Data updated: 2026-09-24
GSACX returned −1.22% year to date and +11.28% over one year to Jul 2026. Annualised returns are +6.61% over 3 years and −5.84% over 5 years. The fund trailed its Asia-Pacific Equity category average: $100 invested three years ago grew to $121, against $164 for the category, and to $111 over one year, against $134. Volatility over the past three years was 19.50% a year. In the 12 months to Jul 2026 the fund lost a net $5.9M, and assets reached $34.36M.
GSACX Growth of $100
What $100 invested in Goldman Sachs China Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Asia-Pacific Equity category average over the same months.
| Period | GSACX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $111 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $121 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $74 | $142 |
| Since data start (Aug 2019 – Jul 2026) | $114 | $194 |
GSACX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −1.22% |
| 1 year | +11.28% |
| 3 years (annualised) | +6.61% |
| 5 years (annualised) | −5.84% |
GSACX Annual Returns
Calendar-year total returns of Goldman Sachs China Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | −1.22% |
| 2025 | +31.34% |
| 2024 | +12.13% |
| 2023 | −19.34% |
| 2022 | −31.23% |
| 2021 | −14.92% |
| 2020 | +47.11% |
| 2019 (Aug–Dec) | +12.74% |
GSACX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.7% | −2.1% | −7.2% | +8.7% | −0.1% | −1.2% | −4.1% | — | — | — | — | — |
| 2025 | +1.6% | +6.9% | +2.3% | −3.5% | +2.9% | +4.8% | +0.9% | +8.6% | +9.1% | −4.2% | −0.8% | +0.1% |
| 2024 | −9.6% | +7.7% | +0.7% | +4.5% | +1.1% | −2.8% | −1.8% | +1.7% | +18.9% | −4.0% | −3.2% | +0.9% |
| 2023 | +11.3% | −10.7% | +0.7% | −5.3% | −9.1% | +3.2% | +8.7% | −7.9% | −3.9% | −4.0% | +0.5% | −2.5% |
| 2022 | −3.5% | −4.8% | −11.6% | −7.9% | +2.4% | +9.6% | −10.3% | −3.3% | −14.5% | −16.0% | +26.9% | +3.5% |
| 2021 | +6.8% | −2.5% | −6.9% | +2.9% | +2.0% | +3.0% | −11.5% | −1.6% | −3.7% | +3.2% | −4.1% | −2.2% |
| 2020 | −4.8% | +3.2% | −11.7% | +9.4% | +2.5% | +11.0% | +12.5% | +4.8% | −0.6% | +4.2% | +4.2% | +7.0% |
| 2019 | — | — | — | — | — | — | — | −2.3% | +2.1% | +4.5% | −0.3% | +8.6% |
GSACX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 19.50%
- 3-year Sharpe ratio: 0.11 (vs 4.5% risk-free rate)
- Best month: +18.90% (Sep 2024)
- Worst month: −9.59% (Jan 2024)
GSACX Fund Flows
Monthly money in and out of Goldman Sachs China Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$5.9M
- 12-month gross sales (incl. reinvestments): $6.1M
- Sales ÷ redemptions: 0.51×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $569K | $1.1M | −$537K |
| Jun 2026 | $124K | $2.1M | −$2.0M |
| May 2026 | $207K | $2.4M | −$2.2M |
| Apr 2026 | $243K | $365K | −$122K |
| Mar 2026 | $207K | $1.2M | −$1.0M |
| Feb 2026 | $399K | $561K | −$162K |
| Jan 2026 | $779K | $478K | $301K |
| Dec 2025 | $755K | $1.2M | −$422K |
| Nov 2025 | $683K | $160K | $524K |
| Oct 2025 | $1.2M | $364K | $827K |
| Sep 2025 | $676K | $574K | $102K |
| Aug 2025 | $292K | $1.5M | −$1.2M |
GSACX Assets Under Management
Net assets of Goldman Sachs China Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $34.36M |
| 2026-04-30 | $40.99M |
| 2026-01-31 | $42.78M |
| 2025-10-31 | $40.92M |
| 2025-07-31 | $36.34M |
| 2025-04-30 | $32.92M |
| 2025-01-31 | $33.44M |
| 2024-10-31 | $35.91M |
| 2024-07-31 | $35.18M |
| 2024-04-30 | $37.50M |
| 2024-01-31 | $35.80M |
| 2023-10-31 | $49.76M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.