GCIIX vs. VGPMX

Last updated Jun 4, 2026

GCIIX (Goldman Sachs International Equity Insights Fund) and VGPMX (Vanguard Global Capital Cycles Fund) are both mutual funds - GCIIX is a Foreign Large Cap Equities fund managed by Goldman Sachs, while VGPMX is a Global Equities fund managed by Vanguard. Over the past 10 years, GCIIX returned 10.97%/yr vs 11.53%/yr for VGPMX. A 0.58 correlation means they provide meaningful diversification when combined. GCIIX charges 0.80%/yr vs 0.36%/yr for VGPMX.

Performance

GCIIX vs. VGPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs International Equity Insights Fund (GCIIX) and Vanguard Global Capital Cycles Fund (VGPMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCIIX achieves a 12.60% return, which is significantly lower than VGPMX's 21.14% return. Over the past 10 years, GCIIX has underperformed VGPMX with an annualized return of 10.97%, while VGPMX has yielded a comparatively higher 11.53% annualized return.

GCIIX

• 1D: 0.39%
• 1M: 6.07%
• YTD: 12.60%
• 6M: 15.21%
• 1Y: 30.53%
• 3Y*: 24.19%
• 5Y*: 12.23%
• 10Y*: 10.97%

VGPMX

• 1D: 1.33%
• 1M: 6.96%
• YTD: 21.14%
• 6M: 25.95%
• 1Y: 66.86%
• 3Y*: 31.54%
• 5Y*: 20.51%
• 10Y*: 11.53%

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

GCIIX vs. VGPMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCIIX Goldman Sachs International Equity Insights Fund	12.60%	40.72%	9.65%	20.80%	-14.91%	11.71%	7.83%	18.52%	-15.82%	29.65%
VGPMX Vanguard Global Capital Cycles Fund	21.14%	65.96%	5.78%	10.06%	7.34%	19.50%	17.21%	20.67%	-32.26%	13.75%

Correlation

The correlation between GCIIX and VGPMX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 18, 1997	0.58

Over the past year, GCIIX and VGPMX have become more correlated (0.79) than their long-term average of 0.58, meaning their price movements have been converging.

Return for Risk

GCIIX vs. VGPMX — Risk / Return Rank

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

GCIIX

GCIIX Risk / Return Rank: 43
GCIIX Sharpe Ratio Rank: 45
GCIIX Sortino Ratio Rank: 42
GCIIX Omega Ratio Rank: 43
GCIIX Calmar Ratio Rank: 41
GCIIX Martin Ratio Rank: 43

VGPMX

VGPMX Risk / Return Rank: 95
VGPMX Sharpe Ratio Rank: 98
VGPMX Sortino Ratio Rank: 94
VGPMX Omega Ratio Rank: 92
VGPMX Calmar Ratio Rank: 93
VGPMX Martin Ratio Rank: 95

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.

GCIIX vs. VGPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs International Equity Insights Fund (GCIIX) and Vanguard Global Capital Cycles Fund (VGPMX). 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.

	GCIIX	VGPMX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	4.02	-2.06
Sortino ratio: Return per unit of downside risk	2.72	4.82	-2.09
Omega ratio: Gain probability vs. loss probability	1.35	1.69	-0.34
Calmar ratio: Return relative to maximum drawdown	2.43	5.25	-2.82
Martin ratio: Return relative to average drawdown	9.08	21.90	-12.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCIIX vs. VGPMX - Sharpe Ratio Comparison

The current GCIIX Sharpe Ratio is 1.96, which is lower than the VGPMX Sharpe Ratio of 4.02. The chart below compares the historical Sharpe Ratios of GCIIX and VGPMX, 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

	GCIIX	VGPMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	4.02	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	1.19	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.55	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.26	+0.05

Drawdowns

GCIIX vs. VGPMX - Drawdown Comparison

The maximum GCIIX drawdown since its inception was -61.08%, smaller than the maximum VGPMX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for GCIIX and VGPMX.

Drawdown Indicators

	GCIIX	VGPMX	Difference
Max Drawdown Largest peak-to-trough decline	-61.08%	-78.85%	+17.77%
Max Drawdown (1Y) Largest decline over 1 year	-12.33%	-12.80%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-14.63%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-30.58%	-22.71%	-7.87%
Max Drawdown (10Y) Largest decline over 10 years	-39.85%	-54.59%	+14.74%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-15.04%	-34.55%	+19.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.06%	+0.23%

Volatility

GCIIX vs. VGPMX - Volatility Comparison

The current volatility for Goldman Sachs International Equity Insights Fund (GCIIX) is 4.87%, while Vanguard Global Capital Cycles Fund (VGPMX) has a volatility of 5.98%. This indicates that GCIIX experiences smaller price fluctuations and is considered to be less risky than VGPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCIIX	VGPMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	5.98%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	13.83%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	16.76%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	17.38%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	20.87%	-4.08%

GCIIX vs. VGPMX - Expense Ratio Comparison

GCIIX has a 0.80% expense ratio, which is higher than VGPMX's 0.36% expense ratio.

Dividends

GCIIX vs. VGPMX - Dividend Comparison

GCIIX's dividend yield for the trailing twelve months is around 6.91%, more than VGPMX's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCIIX Goldman Sachs International Equity Insights Fund	6.91%	7.78%	9.24%	2.81%	3.94%	6.33%	1.86%	2.46%	1.94%	1.62%	2.51%	1.45%
VGPMX Vanguard Global Capital Cycles Fund	3.22%	2.59%	2.68%	3.22%	3.27%	3.26%	2.03%	2.39%	3.02%	0.02%	1.72%	2.32%

Frequently Asked Questions

Can I hold both GCIIX and VGPMX in my portfolio?

GCIIX and VGPMX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCIIX or VGPMX?

VGPMX has higher volatility (5.98%) compared to GCIIX (4.87%). In terms of maximum drawdown, GCIIX dropped -61.08% vs VGPMX's -78.85%.

Which has better risk-adjusted returns?

VGPMX currently has the higher Sharpe Ratio (4.02 vs 1.96), 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.