FIONX vs. GSIMX

Last updated Jun 4, 2026

FIONX (Fidelity SAI International Index Fund) and GSIMX (Goldman Sachs GQG Partners International Opportunities Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, FIONX returned 8.83%/yr vs 9.05%/yr for GSIMX. Their correlation of 0.83 suggests significant overlap in exposure. FIONX charges 0.04%/yr vs 0.76%/yr for GSIMX.

Performance

FIONX vs. GSIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International Index Fund (FIONX) and Goldman Sachs GQG Partners International Opportunities Fund (GSIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIONX achieves a 9.51% return, which is significantly higher than GSIMX's 6.45% return.

FIONX

• 1D: 0.42%
• 1M: 4.08%
• YTD: 9.51%
• 6M: 12.10%
• 1Y: 22.45%
• 3Y*: 17.15%
• 5Y*: 8.83%
• 10Y*: —

GSIMX

• 1D: 0.04%
• 1M: -0.54%
• YTD: 6.45%
• 6M: 8.00%
• 1Y: 12.69%
• 3Y*: 17.16%
• 5Y*: 9.05%
• 10Y*: —

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

FIONX vs. GSIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIONX Fidelity SAI International Index Fund	9.51%	31.85%	3.64%	18.22%	-14.19%	11.24%	8.17%	22.09%	-13.59%	22.53%
GSIMX Goldman Sachs GQG Partners International Opportunities Fund	6.45%	20.85%	9.66%	22.10%	-11.06%	12.50%	15.77%	27.64%	-6.04%	29.92%

Correlation

The correlation between FIONX and GSIMX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.83

The correlation between FIONX and GSIMX shifts across timeframes, from 0.66 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIONX vs. GSIMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIONX

FIONX Risk / Return Rank: 27
FIONX Sharpe Ratio Rank: 26
FIONX Sortino Ratio Rank: 25
FIONX Omega Ratio Rank: 26
FIONX Calmar Ratio Rank: 26
FIONX Martin Ratio Rank: 31

GSIMX

GSIMX Risk / Return Rank: 19
GSIMX Sharpe Ratio Rank: 19
GSIMX Sortino Ratio Rank: 18
GSIMX Omega Ratio Rank: 20
GSIMX Calmar Ratio Rank: 18
GSIMX Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIONX vs. GSIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Index Fund (FIONX) and Goldman Sachs GQG Partners International Opportunities Fund (GSIMX). 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.

	FIONX	GSIMX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.27	+0.20
Sortino ratio: Return per unit of downside risk	2.10	1.78	+0.32
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	1.91	1.56	+0.35
Martin ratio: Return relative to average drawdown	7.14	5.22	+1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIONX vs. GSIMX - Sharpe Ratio Comparison

The current FIONX Sharpe Ratio is 1.47, which is comparable to the GSIMX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FIONX and GSIMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIONX	GSIMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.27	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.63	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.82	-0.24

Drawdowns

FIONX vs. GSIMX - Drawdown Comparison

The maximum FIONX drawdown since its inception was -33.69%, which is greater than GSIMX's maximum drawdown of -28.84%. Use the drawdown chart below to compare losses from any high point for FIONX and GSIMX.

Drawdown Indicators

	FIONX	GSIMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-28.84%	-4.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-7.81%	-3.59%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-10.32%	-3.30%
Max Drawdown (5Y) Largest decline over 5 years	-29.49%	-25.37%	-4.12%
Current Drawdown Current decline from peak	-0.47%	-3.70%	+3.23%
Average Drawdown Average peak-to-trough decline	-6.37%	-4.82%	-1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.33%	+0.70%

Volatility

FIONX vs. GSIMX - Volatility Comparison

Fidelity SAI International Index Fund (FIONX) has a higher volatility of 4.63% compared to Goldman Sachs GQG Partners International Opportunities Fund (GSIMX) at 2.77%. This indicates that FIONX's price experiences larger fluctuations and is considered to be riskier than GSIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIONX	GSIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	2.77%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	7.89%	+4.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.82%	9.66%	+5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	14.36%	+1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	15.69%	+0.85%

FIONX vs. GSIMX - Expense Ratio Comparison

FIONX has a 0.04% expense ratio, which is lower than GSIMX's 0.76% expense ratio.

Dividends

FIONX vs. GSIMX - Dividend Comparison

FIONX's dividend yield for the trailing twelve months is around 2.99%, less than GSIMX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIONX Fidelity SAI International Index Fund	2.99%	3.28%	3.06%	2.18%	3.34%	2.65%	1.91%	3.16%	3.00%	0.52%
GSIMX Goldman Sachs GQG Partners International Opportunities Fund	4.81%	5.12%	11.18%	2.36%	4.89%	2.23%	0.18%	0.65%	0.53%	0.16%

Frequently Asked Questions

Can I hold both FIONX and GSIMX in my portfolio?

FIONX and GSIMX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIONX or GSIMX?

FIONX has higher volatility (4.63%) compared to GSIMX (2.77%). In terms of maximum drawdown, FIONX dropped -33.69% vs GSIMX's -28.84%.

Which has better risk-adjusted returns?

FIONX currently has the higher Sharpe Ratio (1.47 vs 1.27), 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.