GSAKX vs. FNDF

Last updated Aug 1, 2026

GSAKX (Goldman Sachs International Equity Income Fund Class A) and FNDF (Schwab Fundamental International Equity ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, GSAKX returned 11.17%/yr vs 11.86%/yr for FNDF. Their correlation of 0.92 means they have usually moved in the same direction. GSAKX charges 1.40%/yr vs 0.25%/yr for FNDF.

Performance

GSAKX vs. FNDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs International Equity Income Fund Class A (GSAKX) and Schwab Fundamental International Equity ETF (FNDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSAKX achieves a 15.84% return, which is significantly lower than FNDF's 20.14% return. Over the past 10 years, GSAKX has underperformed FNDF with an annualized return of 11.17%, while FNDF has yielded a comparatively higher 11.86% annualized return.

GSAKX

• 1D: 2.39%
• 1M: 2.39%
• 6M: 10.28%
• YTD: 15.84%
• 1Y: 31.77%
• 3Y*: 19.87%
• 5Y*: 13.22%
• 10Y*: 11.17%
• ALL TIME*: 5.34%

FNDF

• 1D: -0.59%
• 1M: 2.41%
• 6M: 11.85%
• YTD: 20.14%
• 1Y: 40.23%
• 3Y*: 21.76%
• 5Y*: 14.24%
• 10Y*: 11.86%
• ALL TIME*: 9.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FNDF Schwab Fundamental International Equity ETF	$75.61M	$73.89M	$78.20M
GSAKX Goldman Sachs International Equity Income Fund Class A	$0.00	$0.00	$0.00

GSAKX vs. FNDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSAKX Goldman Sachs International Equity Income Fund Class A	15.84%	33.81%	8.50%	17.26%	-8.28%	13.26%	2.22%	26.54%	-12.40%	26.04%
FNDF Schwab Fundamental International Equity ETF	20.14%	40.99%	2.29%	20.22%	-7.78%	14.97%	3.61%	18.46%	-14.21%	23.98%

Correlation

The correlation between GSAKX and FNDF is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.92

The correlation between GSAKX and FNDF has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

GSAKX vs. FNDF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSAKX

GSAKX Risk / Return Rank: 83
GSAKX Sharpe Ratio Rank: 86
GSAKX Sortino Ratio Rank: 82
GSAKX Omega Ratio Rank: 82
GSAKX Calmar Ratio Rank: 82
GSAKX Martin Ratio Rank: 81

FNDF

FNDF Risk / Return Rank: 91
FNDF Sharpe Ratio Rank: 93
FNDF Sortino Ratio Rank: 91
FNDF Omega Ratio Rank: 92
FNDF Calmar Ratio Rank: 90
FNDF Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GSAKX vs. FNDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs International Equity Income Fund Class A (GSAKX) and Schwab Fundamental International Equity ETF (FNDF). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GSAKX	FNDF	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.47	-0.35
Sortino ratio: Return per unit of downside risk	2.89	3.25	-0.36
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.07
Calmar ratio: Return relative to maximum drawdown	2.73	3.78	-1.05
Martin ratio: Return relative to average drawdown	9.87	13.23	-3.36

GSAKX vs. FNDF - Sharpe Ratio Comparison

The current GSAKX Sharpe Ratio is 2.12, which is comparable to the FNDF Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of GSAKX and FNDF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSAKX vs. FNDF - Drawdown Comparison

The maximum GSAKX drawdown since its inception was -56.96%, which is greater than FNDF's maximum drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for GSAKX and FNDF.

Drawdown Indicators

	GSAKX	FNDF	Difference
Max Drawdown Largest peak-to-trough decline	-56.96%	-40.14%	-16.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-10.60%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-12.18%	-13.89%	+1.71%
Max Drawdown (5Y) Largest decline over 5 years	-26.02%	-25.56%	-0.46%
Max Drawdown (10Y) Largest decline over 10 years	-34.49%	-40.14%	+5.65%
Current Drawdown Current decline from peak	0.00%	-1.55%	+1.55%
Average Drawdown Average peak-to-trough decline	-12.18%	-7.59%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.02%	+0.10%

Volatility

GSAKX vs. FNDF - Volatility Comparison

The current volatility for Goldman Sachs International Equity Income Fund Class A (GSAKX) is 3.99%, while Schwab Fundamental International Equity ETF (FNDF) has a volatility of 4.54%. This indicates that GSAKX experiences smaller price fluctuations and is considered to be less risky than FNDF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSAKX	FNDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	4.54%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	12.38%	14.24%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	16.21%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	16.34%	-1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	17.43%	-1.62%

GSAKX vs. FNDF - Expense Ratio Comparison

GSAKX has a 1.40% expense ratio, which is higher than FNDF's 0.25% expense ratio.

Dividends

GSAKX vs. FNDF - Dividend Comparison

GSAKX's dividend yield for the trailing twelve months is around 3.25%, more than FNDF's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDF Schwab Fundamental International Equity ETF	3.03%	3.44%	4.01%	3.41%	3.10%	3.54%	2.17%	3.20%	3.47%	2.32%	2.42%	2.08%
GSAKX Goldman Sachs International Equity Income Fund Class A	3.25%	3.75%	2.93%	2.68%	0.51%	2.74%	1.73%	2.69%	15.27%	1.41%	2.01%	0.77%

Frequently Asked Questions

Can I hold both GSAKX and FNDF in my portfolio?

GSAKX and FNDF have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSAKX or FNDF?

FNDF has higher volatility (4.54%) compared to GSAKX (3.99%). In terms of maximum drawdown, GSAKX dropped -56.96% vs FNDF's -40.14%.

Which has better risk-adjusted returns?

FNDF currently has the higher Sharpe Ratio (2.47 vs 2.12), 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.