GSIOX vs. GICIX

Last updated Jun 3, 2026

GSIOX (Goldman Sachs Small Cap Growth Insights Fund) and GICIX (Goldman Sachs International Small Cap Insights Fund) are both mutual funds - GSIOX is a Small 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, GSIOX returned 11.95%/yr vs 9.94%/yr for GICIX. A 0.67 correlation means they provide meaningful diversification when combined. GSIOX charges 0.84%/yr vs 0.87%/yr for GICIX.

Performance

GSIOX vs. GICIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Small Cap Growth Insights Fund (GSIOX) 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, GSIOX achieves a 20.18% return, which is significantly higher than GICIX's 14.40% return. Over the past 10 years, GSIOX has outperformed GICIX with an annualized return of 11.95%, while GICIX has yielded a comparatively lower 9.94% annualized return.

GSIOX

• 1D: -0.22%
• 1M: 4.23%
• YTD: 20.18%
• 6M: 21.91%
• 1Y: 46.81%
• 3Y*: 23.77%
• 5Y*: 8.88%
• 10Y*: 11.95%

GICIX

• 1D: -0.16%
• 1M: 4.64%
• YTD: 14.40%
• 6M: 17.91%
• 1Y: 34.09%
• 3Y*: 23.39%
• 5Y*: 9.70%
• 10Y*: 9.94%

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

GSIOX vs. GICIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIOX Goldman Sachs Small Cap Growth Insights Fund	20.18%	16.99%	22.37%	21.29%	-27.09%	9.87%	18.35%	26.50%	-7.15%	18.41%
GICIX Goldman Sachs International Small Cap Insights Fund	14.40%	42.83%	5.57%	15.11%	-18.53%	13.03%	7.69%	21.59%	-18.80%	33.05%

Correlation

The correlation between GSIOX and GICIX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.67

The correlation between GSIOX and GICIX has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.

Return for Risk

GSIOX vs. GICIX — Risk / Return Rank

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

GSIOX

GSIOX Risk / Return Rank: 60
GSIOX Sharpe Ratio Rank: 57
GSIOX Sortino Ratio Rank: 50
GSIOX Omega Ratio Rank: 44
GSIOX Calmar Ratio Rank: 79
GSIOX Martin Ratio Rank: 70

GICIX

GICIX Risk / Return Rank: 50
GICIX Sharpe Ratio Rank: 55
GICIX Sortino Ratio Rank: 52
GICIX Omega Ratio Rank: 53
GICIX Calmar Ratio Rank: 44
GICIX Martin Ratio Rank: 44

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.

GSIOX vs. GICIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Growth Insights Fund (GSIOX) 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.

	GSIOX	GICIX	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.20	+0.02
Sortino ratio Return per unit of downside risk	2.99	3.04	-0.05
Omega ratio Gain probability vs. loss probability	1.36	1.40	-0.04
Calmar ratio Return relative to maximum drawdown	3.61	2.50	+1.11
Martin ratio Return relative to average drawdown	13.53	9.35	+4.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIOX vs. GICIX - Sharpe Ratio Comparison

The current GSIOX Sharpe Ratio is 2.22, which is comparable to the GICIX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of GSIOX 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

	GSIOX	GICIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.20	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.59	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.59	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.41	-0.01

Drawdowns

GSIOX vs. GICIX - Drawdown Comparison

The maximum GSIOX drawdown since its inception was -53.27%, smaller than the maximum GICIX drawdown of -56.71%. Use the drawdown chart below to compare losses from any high point for GSIOX and GICIX.

Drawdown Indicators

	GSIOX	GICIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.27%	-56.71%	+3.44%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-13.39%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-28.21%	-13.39%	-14.82%
Max Drawdown (5Y) Largest decline over 5 years	-39.12%	-34.53%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-43.57%	-43.84%	+0.27%
Current Drawdown Current decline from peak	-0.84%	-1.02%	+0.18%
Average Drawdown Average peak-to-trough decline	-10.54%	-10.93%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.56%	-0.01%

Volatility

GSIOX vs. GICIX - Volatility Comparison

Goldman Sachs Small Cap Growth Insights Fund (GSIOX) has a higher volatility of 6.25% compared to Goldman Sachs International Small Cap Insights Fund (GICIX) at 4.40%. This indicates that GSIOX's price experiences larger fluctuations and is considered to be riskier than GICIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIOX	GICIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	4.40%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	12.68%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	21.79%	15.28%	+6.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.57%	16.54%	+8.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	16.80%	+7.81%

GSIOX vs. GICIX - Expense Ratio Comparison

GSIOX has a 0.84% expense ratio, which is lower than GICIX's 0.87% expense ratio.

Dividends

GSIOX vs. GICIX - Dividend Comparison

GSIOX's dividend yield for the trailing twelve months is around 4.10%, less than GICIX's 7.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GICIX Goldman Sachs International Small Cap Insights Fund	7.07%	8.08%	4.77%	3.04%	3.10%	3.39%	1.87%	3.47%	1.68%	8.29%	2.79%	1.69%
GSIOX Goldman Sachs Small Cap Growth Insights Fund	4.10%	4.93%	0.80%	0.00%	0.39%	113.92%	2.94%	1.11%	10.85%	3.67%	0.00%	8.38%

Frequently Asked Questions

Can I hold both GSIOX and GICIX in my portfolio?

GSIOX and GICIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIOX or GICIX?

GSIOX has higher volatility (6.25%) compared to GICIX (4.40%). In terms of maximum drawdown, GSIOX dropped -53.27% vs GICIX's -56.71%.

Which has better risk-adjusted returns?

GSIOX currently has the higher Sharpe Ratio (2.22 vs 2.20), 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.