GS vs MS: The Goldman Sachs Group Inc. vs Morgan Stanley Historical Returns & Investment Comparison
This GS vs MS comparison analyzes the historical stock performance of The Goldman Sachs Group Inc. and Morgan Stanley side-by-side. Using real, adjusted market data, this tool shows how identical investments in both stocks would have performed over time—highlighting differences in returns, volatility, and consistency across market cycles.
Use the interactive calculator below to adjust the investment amount and time period, visualizing how The Goldman Sachs Group Inc. and Morgan Stanley have historically performed against each other.
Compare Stock Performance
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Performance Summary
$10,000 invested from 1999 to 2025 (27 years)
Head-to-Head Record
Over the 27-year comparison period, The Goldman Sachs Group Inc. outperformed Morgan Stanley in 18 years, while Morgan Stanley outperformed The Goldman Sachs Group Inc. in 9 years.
GS - The Goldman Sachs Group Inc.
MS - Morgan Stanley
Overall Winner: MS with an average annual return of 18.61% (vs 16.59% for GS)
Understanding GS vs MS Performance
When comparing The Goldman Sachs Group Inc. and Morgan Stanley, investors should consider multiple factors beyond just total returns. Volatility, consistency of growth, dividend payments, and sector-specific risks all play crucial roles in determining which stock might be better suited for your investment strategy and risk tolerance.
Historical performance data shows how each stock responded to market downturns, economic expansions, and company-specific events. While past performance doesn't guarantee future results, understanding these patterns can help inform investment decisions and portfolio allocation strategies.
Cumulative Growth Comparison
A $10,000 investment in The Goldman Sachs Group Inc. grew to $160,101, compared to $430,298 for Morgan Stanley over the same period.
Year-by-Year Comparison
| Year | GS Return | GS Cumulative | MS Return | MS Cumulative | Difference | Winner |
|---|---|---|---|---|---|---|
| 1999 (Start) | - | $10,000.00 | - | $10,000.00 | - | Initial Investment |
| 2000 | +34.39% | $13,438.61 | +98.18% | $97,670.62 | -63.79% (MS) | MS |
| 2001 | +21.71% | $16,355.50 | +18.59% | $115,828.10 | +3.11% (GS) | GS |
| 2002 | -7.00% | $15,211.27 | -21.19% | $91,283.05 | +14.19% (GS) | GS |
| 2003 | -24.62% | $11,465.89 | -26.24% | $67,327.15 | +1.62% (GS) | GS |
| 2004 | +43.04% | $16,400.83 | +40.76% | $94,767.77 | +2.28% (GS) | GS |
| 2005 | +8.25% | $17,753.21 | -0.72% | $94,086.36 | +8.96% (GS) | GS |
| 2006 | +22.81% | $21,802.47 | +3.55% | $97,428.08 | +19.26% (GS) | GS |
| 2007 | +55.98% | $34,006.73 | +41.99% | $138,339.21 | +13.99% (GS) | GS |
| 2008 | +7.85% | $36,676.52 | -20.47% | $110,018.40 | +28.32% (GS) | GS |
| 2009 | -59.00% | $15,037.95 | -67.52% | $35,738.18 | +8.52% (GS) | GS |
| 2010 | +97.02% | $29,627.04 | +77.77% | $63,532.68 | +19.24% (GS) | GS |
| 2011 | -1.92% | $29,058.01 | -11.31% | $56,344.52 | +9.39% (GS) | GS |
| 2012 | -47.13% | $15,361.54 | -45.93% | $30,464.98 | -1.20% (MS) | MS |
| 2013 | +35.98% | $20,888.43 | +20.40% | $36,678.88 | +15.58% (GS) | GS |
| 2014 | +36.41% | $28,493.73 | +61.13% | $59,100.85 | -24.72% (MS) | MS |
| 2015 | +11.02% | $31,632.90 | +26.41% | $74,708.24 | -15.39% (MS) | MS |
| 2016 | -6.07% | $29,712.57 | -16.55% | $62,346.86 | +10.48% (GS) | GS |
| 2017 | +37.28% | $40,788.42 | +37.50% | $85,726.70 | -0.22% (MS) | MS |
| 2018 | +6.79% | $43,557.40 | +24.25% | $106,519.00 | -17.47% (MS) | MS |
| 2019 | -33.76% | $28,851.61 | -22.35% | $82,717.28 | -11.42% (MS) | MS |
| 2020 | +36.41% | $39,357.15 | +30.21% | $107,706.98 | +6.20% (GS) | GS |
| 2021 | +15.25% | $45,360.38 | +35.65% | $146,101.52 | -20.39% (MS) | MS |
| 2022 | +46.89% | $66,631.09 | +47.08% | $214,890.44 | -0.19% (MS) | MS |
| 2023 | -10.85% | $59,402.08 | -12.16% | $188,770.20 | +1.31% (GS) | GS |
| 2024 | +14.95% | $68,285.55 | +13.00% | $213,308.41 | +1.96% (GS) | GS |
| 2025 | +51.04% | $103,139.01 | +38.76% | $295,995.07 | +12.28% (GS) | GS |
| 2026 | +55.23% | $160,100.58 | +45.37% | $430,297.59 | +9.85% (GS) | GS |
Annual returns include dividends and stock splits. Cumulative values show growth of $10,000 invested from the first year. Positive difference means GS outperformed MS that year.
Company Profiles
The Goldman Sachs Group Inc.
GS
The Goldman Sachs Group Inc. is a leading global financial institution that provides a wide range of financial services to a substantial and diversified client base. Its services include investment banking, securities, investment management, and consumer banking. Goldman Sachs serves corporations, financial institutions, governments, and high-net-worth individuals worldwide, leveraging its deep expertise and global network to deliver comprehensive financial solutions.
Key Innovations
- ✓Pioneered many financial instruments and strategies, shaping modern investment banking and global capital markets.
- ✓Continuously adapts to evolving financial landscapes, leveraging technology and analytics to deliver innovative solutions and maintain its competitive edge.
Business Segments
- Investment BankingProvides financial advisory services on mergers and acquisitions, divestitures, corporate defense, risk management, and capital raising.
- Global MarketsFacilitates client transactions in fixed income, equity, currency, and commodity products; makes markets and provides financing to clients.
- Asset ManagementProvides investment management services and offers investment products across all major asset classes to a diverse set of institutional and individual clients.
Morgan Stanley
MS
Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services.
Key Innovations
- ✓E*TRADE integration
- ✓Modern Wealth Management strategy
Business Segments
- Institutional SecuritiesInvestment banking, sales and trading.
- Wealth ManagementFinancial advisory services for individuals (includes E*TRADE).
- Investment ManagementAsset management services.
How This Comparison Works
Our stock comparison tool uses adjusted closing prices to calculate year-by-year returns for both stocks. This ensures an apples-to-apples comparison that accounts for:
- ✓Dividends: All dividend payments are reinvested
- ✓Stock splits: Historical prices are adjusted for all splits
- ✓Head-to-head record: Shows which stock outperformed each year
- ✓Statistical analysis: Average returns, best/worst years, and win rates
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Important Disclaimer
This comparison tool is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Past performance is not indicative of future results. Historical returns include dividends and stock splits but do not account for taxes, fees, inflation, or individual circumstances. Stock market investments carry risk, including the potential loss of principal. Always consult with a qualified financial advisor before making investment decisions. The data presented is based on historical market data and may contain inaccuracies or delays.