GICIX vs. SPY
Compare and contrast key facts about Goldman Sachs International Small Cap Insights Fund (GICIX) and State Street SPDR S&P 500 ETF (SPY).
GICIX is managed by Goldman Sachs. It was launched on Sep 27, 2007. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
GICIX vs. SPY - Performance Comparison
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GICIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GICIX Goldman Sachs International Small Cap Insights Fund | 2.90% | 42.83% | 5.57% | 15.11% | -18.53% | 13.03% | 7.69% | 21.59% | -18.80% | 33.05% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, GICIX achieves a 2.90% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, GICIX has underperformed SPY with an annualized return of 9.23%, while SPY has yielded a comparatively higher 14.06% annualized return.
GICIX
- 1D
- 3.35%
- 1M
- -9.56%
- YTD
- 2.90%
- 6M
- 8.16%
- 1Y
- 37.13%
- 3Y*
- 18.77%
- 5Y*
- 8.67%
- 10Y*
- 9.23%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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GICIX vs. SPY - Expense Ratio Comparison
GICIX has a 0.87% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
GICIX vs. SPY — Risk / Return Rank
GICIX
SPY
GICIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs International Small Cap Insights Fund (GICIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| GICIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.32 | 0.96 | +1.36 |
Sortino ratioReturn per unit of downside risk | 2.88 | 1.49 | +1.39 |
Omega ratioGain probability vs. loss probability | 1.44 | 1.23 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.53 | +1.08 |
Martin ratioReturn relative to average drawdown | 10.74 | 7.27 | +3.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GICIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 0.96 | +1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.70 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.79 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.56 | -0.19 |
Correlation
The correlation between GICIX and SPY is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GICIX vs. SPY - Dividend Comparison
GICIX's dividend yield for the trailing twelve months is around 7.86%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GICIX Goldman Sachs International Small Cap Insights Fund | 7.86% | 8.08% | 4.77% | 3.04% | 3.10% | 3.39% | 1.87% | 3.47% | 1.68% | 8.29% | 2.79% | 1.69% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
GICIX vs. SPY - Drawdown Comparison
The maximum GICIX drawdown since its inception was -56.71%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GICIX and SPY.
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Drawdown Indicators
| GICIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.71% | -55.19% | -1.52% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -12.05% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -34.53% | -24.50% | -10.03% |
Max Drawdown (10Y)Largest decline over 10 years | -43.84% | -33.72% | -10.12% |
Current DrawdownCurrent decline from peak | -10.48% | -5.53% | -4.95% |
Average DrawdownAverage peak-to-trough decline | -11.00% | -9.09% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.54% | +0.72% |
Volatility
GICIX vs. SPY - Volatility Comparison
Goldman Sachs International Small Cap Insights Fund (GICIX) has a higher volatility of 7.86% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that GICIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GICIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 5.35% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.60% | 9.50% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.41% | 19.06% | -2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.37% | 17.06% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 17.92% | -1.24% |