GSAJX Performance — Goldman Sachs Small Cap Growth Fund, Institutional Shares
Data updated: 2026-07-24
GSAJX returned +20.90% year to date and +35.63% over one year to May 2026. Annualised returns are +21.74% over 3 years and +7.56% over 5 years. The fund beat its US Small Growth category average: $100 invested three years ago grew to $180, against $157 for the category, and to $136 over one year, against $130. Volatility over the past three years was 19.14% a year. In the 12 months to May 2026 the fund took in a net $6.7M, and assets reached $458.62M.
GSAJX Growth of $100
What $100 invested in Goldman Sachs Small Cap Growth Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Growth category average over the same months.
| Period | GSAJX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $136 | $130 |
| 3 years (Jun 2023 – May 2026) | $180 | $157 |
| 5 years (Jun 2021 – May 2026) | $144 | $124 |
| Since data start (Nov 2019 – May 2026) | $245 | $194 |
GSAJX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +20.90% |
| 1 year | +35.63% |
| 3 years (annualised) | +21.74% |
| 5 years (annualised) | +7.56% |
GSAJX Annual Returns
Calendar-year total returns of Goldman Sachs Small Cap Growth Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +20.90% |
| 2025 | +9.15% |
| 2024 | +21.73% |
| 2023 | +18.94% |
| 2022 | −28.72% |
| 2021 | +8.63% |
| 2020 | +54.74% |
| 2019 (Nov–Dec) | +7.23% |
GSAJX 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 | +3.3% | +3.4% | −5.1% | +13.9% | +4.8% | — | — | — | — | — | — | — |
| 2025 | +5.0% | −6.7% | −8.5% | +1.0% | +7.4% | +3.9% | +0.2% | +5.4% | +0.9% | +1.3% | +0.8% | −0.8% |
| 2024 | −1.1% | +9.3% | +1.7% | −4.6% | +5.4% | +1.3% | +5.3% | +0.5% | +1.5% | −0.8% | +10.6% | −7.6% |
| 2023 | +10.4% | −1.6% | −1.1% | −1.0% | −0.4% | +7.6% | +2.0% | −2.3% | −6.6% | −6.4% | +8.8% | +10.1% |
| 2022 | −16.0% | +0.3% | +0.6% | −12.7% | −3.3% | −4.7% | +12.1% | −1.7% | −7.0% | +7.9% | +1.8% | −6.9% |
| 2021 | +4.0% | +2.2% | −2.9% | +3.9% | −4.1% | +5.1% | −1.1% | +3.5% | −3.4% | +5.5% | −4.5% | +1.0% |
| 2020 | +1.4% | −6.4% | −16.6% | +17.4% | +11.0% | +4.8% | +5.0% | +5.8% | −1.7% | +2.5% | +15.1% | +11.1% |
| 2019 | — | — | — | — | — | — | — | — | — | — | +4.8% | +2.3% |
GSAJX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 19.14%
- 3-year Sharpe ratio: 0.90 (vs 4.5% risk-free rate)
- Best month: +13.93% (Apr 2026)
- Worst month: −8.48% (Mar 2025)
GSAJX Fund Flows
Monthly money in and out of Goldman Sachs Small Cap Growth Fund, from SEC Form N-PORT.
- 12-month net flow: $6.7M
- 12-month gross sales (incl. reinvestments): $135.7M
- Sales ÷ redemptions: 1.05×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $7.5M | $29.2M | −$21.8M |
| Apr 2026 | $13.2M | $21.6M | −$8.4M |
| Mar 2026 | $13.9M | $5.3M | $8.6M |
| Feb 2026 | $14.0M | $5.1M | $9.0M |
| Jan 2026 | $9.9M | $14.7M | −$4.8M |
| Dec 2025 | $6.9M | $5.6M | $1.3M |
| Nov 2025 | $8.9M | $5.4M | $3.5M |
| Oct 2025 | $15.5M | $9.0M | $6.5M |
| Sep 2025 | $16.9M | $9.5M | $7.4M |
| Aug 2025 | $7.4M | $2.8M | $4.6M |
| Jul 2025 | $14.5M | $9.6M | $4.9M |
| Jun 2025 | $7.2M | $11.2M | −$4.0M |
GSAJX Assets Under Management
Net assets of Goldman Sachs Small Cap Growth Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $458.62M |
| 2026-02-28 | $423.74M |
| 2025-11-30 | $394.28M |
| 2025-08-31 | $365.40M |
| 2025-05-31 | $328.08M |
| 2025-02-28 | $304.76M |
| 2024-11-30 | $160.22M |
| 2024-08-31 | $133.61M |
| 2024-05-31 | $109.05M |
| 2024-02-29 | $63.80M |
| 2023-11-30 | $36.42M |
| 2023-08-31 | $40.74M |
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.