GSIHX vs. HEFA

Last updated Jun 3, 2026

GSIHX (Goldman Sachs GQG Partners International Opportunities Fund Class A) and HEFA (iShares Currency Hedged MSCI EAFE ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, GSIHX returned 8.52%/yr vs 13.71%/yr for HEFA. A 0.74 correlation means they provide meaningful diversification when combined. GSIHX charges 1.12%/yr vs 0.35%/yr for HEFA.

Performance

GSIHX vs. HEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs GQG Partners International Opportunities Fund Class A (GSIHX) and iShares Currency Hedged MSCI EAFE ETF (HEFA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIHX achieves a 6.23% return, which is significantly lower than HEFA's 10.74% return.

GSIHX

• 1D: -0.55%
• 1M: -0.92%
• YTD: 6.23%
• 6M: 7.79%
• 1Y: 11.62%
• 3Y*: 16.72%
• 5Y*: 8.52%
• 10Y*: —

HEFA

• 1D: 0.66%
• 1M: 4.11%
• YTD: 10.74%
• 6M: 13.13%
• 1Y: 26.32%
• 3Y*: 18.49%
• 5Y*: 13.71%
• 10Y*: 12.65%

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

GSIHX vs. HEFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIHX Goldman Sachs GQG Partners International Opportunities Fund Class A	6.23%	20.43%	9.35%	21.60%	-11.36%	12.01%	15.36%	27.15%	-6.38%	29.41%
HEFA iShares Currency Hedged MSCI EAFE ETF	10.74%	24.58%	13.71%	20.33%	-4.86%	19.59%	2.09%	27.63%	-9.33%	15.17%

Correlation

The correlation between GSIHX and HEFA is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.74

The correlation between GSIHX and HEFA shifts across timeframes, from 0.55 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GSIHX vs. HEFA — Risk / Return Rank

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

GSIHX

GSIHX Risk / Return Rank: 20
GSIHX Sharpe Ratio Rank: 20
GSIHX Sortino Ratio Rank: 18
GSIHX Omega Ratio Rank: 20
GSIHX Calmar Ratio Rank: 20
GSIHX Martin Ratio Rank: 21

HEFA

HEFA Risk / Return Rank: 62
HEFA Sharpe Ratio Rank: 62
HEFA Sortino Ratio Rank: 62
HEFA Omega Ratio Rank: 64
HEFA Calmar Ratio Rank: 56
HEFA Martin Ratio Rank: 64

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.

GSIHX vs. HEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs GQG Partners International Opportunities Fund Class A (GSIHX) and iShares Currency Hedged MSCI EAFE ETF (HEFA). 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.

	GSIHX	HEFA	Difference
Sharpe ratio Return per unit of total volatility	1.30	2.10	-0.80
Sortino ratio Return per unit of downside risk	1.83	2.94	-1.11
Omega ratio Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio Return relative to maximum drawdown	1.70	2.83	-1.12
Martin ratio Return relative to average drawdown	5.69	11.83	-6.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIHX vs. HEFA - Sharpe Ratio Comparison

The current GSIHX Sharpe Ratio is 1.30, which is lower than the HEFA Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of GSIHX and HEFA, 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

	GSIHX	HEFA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	2.10	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	1.00	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.67	+0.13

Drawdowns

GSIHX vs. HEFA - Drawdown Comparison

The maximum GSIHX drawdown since its inception was -28.79%, smaller than the maximum HEFA drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for GSIHX and HEFA.

Drawdown Indicators

	GSIHX	HEFA	Difference
Max Drawdown Largest peak-to-trough decline	-28.79%	-32.39%	+3.60%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-9.52%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-10.42%	-14.28%	+3.86%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-14.79%	-10.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.39%	—
Current Drawdown Current decline from peak	-3.86%	0.00%	-3.86%
Average Drawdown Average peak-to-trough decline	-4.96%	-4.17%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.28%	+0.06%

Volatility

GSIHX vs. HEFA - Volatility Comparison

The current volatility for Goldman Sachs GQG Partners International Opportunities Fund Class A (GSIHX) is 2.81%, while iShares Currency Hedged MSCI EAFE ETF (HEFA) has a volatility of 4.17%. This indicates that GSIHX experiences smaller price fluctuations and is considered to be less risky than HEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIHX	HEFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	4.17%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	10.13%	-2.23%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	12.59%	-2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	13.76%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	15.86%	-0.15%

GSIHX vs. HEFA - Expense Ratio Comparison

GSIHX has a 1.12% expense ratio, which is higher than HEFA's 0.35% expense ratio.

Dividends

GSIHX vs. HEFA - Dividend Comparison

GSIHX's dividend yield for the trailing twelve months is around 4.52%, more than HEFA's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIHX Goldman Sachs GQG Partners International Opportunities Fund Class A	4.52%	4.80%	10.87%	2.04%	4.47%	1.90%	0.00%	0.41%	0.18%	0.00%	0.00%	0.00%
HEFA iShares Currency Hedged MSCI EAFE ETF	3.97%	4.40%	3.09%	3.02%	25.14%	3.06%	2.10%	7.56%	4.58%	2.55%	3.17%	3.54%

Frequently Asked Questions

Can I hold both GSIHX and HEFA in my portfolio?

GSIHX and HEFA have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIHX or HEFA?

HEFA has higher volatility (4.17%) compared to GSIHX (2.81%). In terms of maximum drawdown, GSIHX dropped -28.79% vs HEFA's -32.39%.

Which has better risk-adjusted returns?

HEFA currently has the higher Sharpe Ratio (2.10 vs 1.30), 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.