GGOIX vs. GICIX

Last updated Jun 3, 2026

GGOIX (Goldman Sachs Mid Cap Growth Fund) and GICIX (Goldman Sachs International Small Cap Insights Fund) are both mutual funds - GGOIX is a Mid Cap Growth Equities fund managed by Goldman Sachs, while GICIX is a Foreign Small & Mid Cap Equities fund managed by Goldman Sachs. Over the past 10 years, GGOIX returned 13.71%/yr vs 9.96%/yr for GICIX. A 0.69 correlation means they provide meaningful diversification when combined. GGOIX charges 0.90%/yr vs 0.87%/yr for GICIX.

Performance

GGOIX vs. GICIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Mid Cap Growth Fund (GGOIX) and Goldman Sachs International Small Cap Insights Fund (GICIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGOIX achieves a 11.79% return, which is significantly lower than GICIX's 14.59% return. Over the past 10 years, GGOIX has outperformed GICIX with an annualized return of 13.71%, while GICIX has yielded a comparatively lower 9.96% annualized return.

GGOIX

• 1D: 0.67%
• 1M: 6.84%
• YTD: 11.79%
• 6M: 10.73%
• 1Y: 15.18%
• 3Y*: 20.63%
• 5Y*: 8.92%
• 10Y*: 13.71%

GICIX

• 1D: -0.70%
• 1M: 4.45%
• YTD: 14.59%
• 6M: 18.66%
• 1Y: 33.32%
• 3Y*: 23.46%
• 5Y*: 9.60%
• 10Y*: 9.96%

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

GGOIX vs. GICIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGOIX Goldman Sachs Mid Cap Growth Fund	11.79%	7.55%	31.58%	19.20%	-26.37%	11.40%	44.78%	34.92%	-5.04%	27.13%
GICIX Goldman Sachs International Small Cap Insights Fund	14.59%	42.83%	5.57%	15.11%	-18.53%	13.03%	7.69%	21.59%	-18.80%	33.05%

Correlation

The correlation between GGOIX and GICIX 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	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.69

The correlation between GGOIX and GICIX has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

Return for Risk

GGOIX vs. GICIX — Risk / Return Rank

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

GGOIX

GGOIX Risk / Return Rank: 14
GGOIX Sharpe Ratio Rank: 12
GGOIX Sortino Ratio Rank: 12
GGOIX Omega Ratio Rank: 11
GGOIX Calmar Ratio Rank: 16
GGOIX Martin Ratio Rank: 20

GICIX

GICIX Risk / Return Rank: 56
GICIX Sharpe Ratio Rank: 63
GICIX Sortino Ratio Rank: 58
GICIX Omega Ratio Rank: 59
GICIX Calmar Ratio Rank: 51
GICIX Martin Ratio Rank: 50

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.

GGOIX vs. GICIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Mid Cap Growth Fund (GGOIX) and Goldman Sachs International Small Cap Insights Fund (GICIX). 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.

	GGOIX	GICIX	Difference
Sharpe ratio Return per unit of total volatility	0.92	2.34	-1.42
Sortino ratio Return per unit of downside risk	1.40	3.23	-1.83
Omega ratio Gain probability vs. loss probability	1.16	1.43	-0.27
Calmar ratio Return relative to maximum drawdown	1.45	2.74	-1.29
Martin ratio Return relative to average drawdown	5.33	10.31	-4.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGOIX vs. GICIX - Sharpe Ratio Comparison

The current GGOIX Sharpe Ratio is 0.92, which is lower than the GICIX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of GGOIX and GICIX, 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

	GGOIX	GICIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	2.34	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.58	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.60	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.41	+0.04

Drawdowns

GGOIX vs. GICIX - Drawdown Comparison

The maximum GGOIX drawdown since its inception was -54.80%, roughly equal to the maximum GICIX drawdown of -56.71%. Use the drawdown chart below to compare losses from any high point for GGOIX and GICIX.

Drawdown Indicators

	GGOIX	GICIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.80%	-56.71%	+1.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.72%	-13.39%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-24.74%	-13.39%	-11.35%
Max Drawdown (5Y) Largest decline over 5 years	-38.94%	-34.53%	-4.41%
Max Drawdown (10Y) Largest decline over 10 years	-38.94%	-43.84%	+4.90%
Current Drawdown Current decline from peak	0.00%	-0.86%	+0.86%
Average Drawdown Average peak-to-trough decline	-9.80%	-10.94%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	3.56%	-0.37%

Volatility

GGOIX vs. GICIX - Volatility Comparison

Goldman Sachs Mid Cap Growth Fund (GGOIX) and Goldman Sachs International Small Cap Insights Fund (GICIX) have volatilities of 4.35% and 4.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGOIX	GICIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.45%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	12.71%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.27%	15.31%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.92%	16.54%	+6.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.97%	16.80%	+8.17%

GGOIX vs. GICIX - Expense Ratio Comparison

GGOIX has a 0.90% expense ratio, which is higher than GICIX's 0.87% expense ratio.

Dividends

GGOIX vs. GICIX - Dividend Comparison

GGOIX's dividend yield for the trailing twelve months is around 12.46%, more than GICIX's 7.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GGOIX Goldman Sachs Mid Cap Growth Fund	12.46%	13.93%	18.08%	0.00%	6.22%	13.58%	17.16%	26.17%	32.56%	18.47%	2.38%	11.98%
GICIX Goldman Sachs International Small Cap Insights Fund	7.06%	8.08%	4.77%	3.04%	3.10%	3.39%	1.87%	3.47%	1.68%	8.29%	2.79%	1.69%

Frequently Asked Questions

Can I hold both GGOIX and GICIX in my portfolio?

GGOIX and GICIX 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, GGOIX or GICIX?

GICIX has higher volatility (4.45%) compared to GGOIX (4.35%). In terms of maximum drawdown, GGOIX dropped -54.80% vs GICIX's -56.71%.

Which has better risk-adjusted returns?

GICIX currently has the higher Sharpe Ratio (2.34 vs 0.92), 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.