GSAFX Performance — Goldman Sachs China Equity Fund, Class R6
Data updated: 2026-09-24
GSAFX returned −0.61% year to date and +12.52% over one year to Jul 2026. Annualised returns are +7.79% over 3 years and −4.80% over 5 years. The fund trailed its Asia-Pacific Equity category average: $100 invested three years ago grew to $125, against $164 for the category, and to $113 over one year, against $134. Volatility over the past three years was 19.52% a year. In the 12 months to Jul 2026 the fund lost a net $5.9M, and assets reached $34.36M.
GSAFX 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 | GSAFX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $113 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $125 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $78 | $142 |
| Since data start (Aug 2019 – Jul 2026) | $123 | $194 |
GSAFX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −0.61% |
| 1 year | +12.52% |
| 3 years (annualised) | +7.79% |
| 5 years (annualised) | −4.80% |
GSAFX 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) | −0.61% |
| 2025 | +32.87% |
| 2024 | +13.40% |
| 2023 | −18.49% |
| 2022 | −30.48% |
| 2021 | −13.99% |
| 2020 | +48.69% |
| 2019 (Aug–Dec) | +13.25% |
GSAFX 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% | −7.1% | +8.8% | 0.0% | −1.0% | −4.0% | — | — | — | — | — |
| 2025 | +1.7% | +7.0% | +2.3% | −3.4% | +3.0% | +4.9% | +1.0% | +8.7% | +9.2% | −4.1% | −0.8% | +0.2% |
| 2024 | −9.5% | +7.9% | +0.8% | +4.6% | +1.2% | −2.7% | −1.8% | +1.8% | +19.0% | −3.9% | −3.1% | +1.0% |
| 2023 | +11.5% | −10.6% | +0.8% | −5.2% | −9.0% | +3.2% | +8.9% | −7.8% | −3.8% | −3.9% | +0.5% | −2.4% |
| 2022 | −3.4% | −4.7% | −11.5% | −7.8% | +2.5% | +9.8% | −10.2% | −3.2% | −14.4% | −16.0% | +27.1% | +3.5% |
| 2021 | +6.9% | −2.4% | −6.8% | +3.0% | +2.2% | +3.0% | −11.4% | −1.5% | −3.6% | +3.3% | −4.0% | −2.1% |
| 2020 | −4.7% | +3.3% | −11.6% | +9.5% | +2.6% | +11.1% | +12.6% | +4.9% | −0.5% | +4.3% | +4.3% | +7.1% |
| 2019 | — | — | — | — | — | — | — | −2.2% | +2.2% | +4.6% | −0.3% | +8.7% |
GSAFX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 19.52%
- 3-year Sharpe ratio: 0.17 (vs 4.5% risk-free rate)
- Best month: +18.97% (Sep 2024)
- Worst month: −9.50% (Jan 2024)
GSAFX 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 |
GSAFX 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.