HRSMX vs. GSIKX

Last updated Jun 23, 2026

HRSMX (Hood River Small-Cap Growth Fund) and GSIKX (Goldman Sachs International Equity Income Fund) are both mutual funds - HRSMX is a Small Cap Growth Equities fund managed by Hood River Capital Management, while GSIKX is a Foreign Large Cap Equities fund managed by Goldman Sachs. Over the past 10 years, HRSMX returned 20.62%/yr vs 11.25%/yr for GSIKX. A 0.65 correlation means they provide meaningful diversification when combined. HRSMX charges 1.09%/yr vs 0.85%/yr for GSIKX.

Performance

HRSMX vs. GSIKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hood River Small-Cap Growth Fund (HRSMX) and Goldman Sachs International Equity Income Fund (GSIKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HRSMX achieves a 37.43% return, which is significantly higher than GSIKX's 12.36% return. Over the past 10 years, HRSMX has outperformed GSIKX with an annualized return of 20.62%, while GSIKX has yielded a comparatively lower 11.25% annualized return.

HRSMX

• 1D: 2.12%
• 1M: 2.98%
• YTD: 37.43%
• 6M: 33.05%
• 1Y: 78.19%
• 3Y*: 35.45%
• 5Y*: 16.56%
• 10Y*: 20.62%

GSIKX

• 1D: 0.51%
• 1M: 2.52%
• YTD: 12.36%
• 6M: 13.05%
• 1Y: 30.87%
• 3Y*: 19.90%
• 5Y*: 13.03%
• 10Y*: 11.25%

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

HRSMX vs. GSIKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HRSMX Hood River Small-Cap Growth Fund	37.43%	23.85%	35.48%	21.52%	-27.99%	23.19%	60.80%	24.13%	-6.91%	20.60%
GSIKX Goldman Sachs International Equity Income Fund	12.36%	34.30%	8.81%	17.60%	-7.93%	13.66%	2.59%	26.92%	-12.12%	26.53%

Correlation

The correlation between HRSMX and GSIKX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.65

The correlation between HRSMX and GSIKX has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

HRSMX vs. GSIKX — Risk / Return Rank

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

HRSMX

HRSMX Risk / Return Rank: 88
HRSMX Sharpe Ratio Rank: 92
HRSMX Sortino Ratio Rank: 79
HRSMX Omega Ratio Rank: 73
HRSMX Calmar Ratio Rank: 97
HRSMX Martin Ratio Rank: 97

GSIKX

GSIKX Risk / Return Rank: 54
GSIKX Sharpe Ratio Rank: 58
GSIKX Sortino Ratio Rank: 53
GSIKX Omega Ratio Rank: 54
GSIKX Calmar Ratio Rank: 54
GSIKX 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.

HRSMX vs. GSIKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hood River Small-Cap Growth Fund (HRSMX) and Goldman Sachs International Equity Income Fund (GSIKX). 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.

	HRSMX	GSIKX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.07	+0.78
Sortino ratio: Return per unit of downside risk	3.44	2.80	+0.63
Omega ratio: Gain probability vs. loss probability	1.44	1.37	+0.07
Calmar ratio: Return relative to maximum drawdown	6.40	2.68	+3.72
Martin ratio: Return relative to average drawdown	25.75	9.63	+16.11

HRSMX vs. GSIKX - Sharpe Ratio Comparison

The current HRSMX Sharpe Ratio is 2.85, which is higher than the GSIKX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of HRSMX and GSIKX, 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

HRSMX vs. GSIKX - Drawdown Comparison

The maximum HRSMX drawdown since its inception was -64.92%, which is greater than GSIKX's maximum drawdown of -56.58%. Use the drawdown chart below to compare losses from any high point for HRSMX and GSIKX.

Drawdown Indicators

	HRSMX	GSIKX	Difference
Max Drawdown Largest peak-to-trough decline	-64.92%	-56.58%	-8.34%
Max Drawdown (1Y) Largest decline over 1 year	-12.29%	-11.28%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-33.04%	-12.11%	-20.93%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-25.90%	-12.59%
Max Drawdown (10Y) Largest decline over 10 years	-40.74%	-34.47%	-6.27%
Current Drawdown Current decline from peak	-0.16%	-0.31%	+0.15%
Average Drawdown Average peak-to-trough decline	-13.05%	-11.79%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	3.13%	-0.08%

Volatility

HRSMX vs. GSIKX - Volatility Comparison

Hood River Small-Cap Growth Fund (HRSMX) has a higher volatility of 9.52% compared to Goldman Sachs International Equity Income Fund (GSIKX) at 4.28%. This indicates that HRSMX's price experiences larger fluctuations and is considered to be riskier than GSIKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HRSMX	GSIKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.52%	4.28%	+5.24%
Volatility (6M) Calculated over the trailing 6-month period	22.27%	12.11%	+10.16%
Volatility (1Y) Calculated over the trailing 1-year period	27.61%	14.61%	+13.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.49%	14.72%	+12.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.08%	16.11%	+9.97%

HRSMX vs. GSIKX - Expense Ratio Comparison

HRSMX has a 1.09% expense ratio, which is higher than GSIKX's 0.85% expense ratio.

Dividends

HRSMX vs. GSIKX - Dividend Comparison

HRSMX's dividend yield for the trailing twelve months is around 3.08%, less than GSIKX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIKX Goldman Sachs International Equity Income Fund	3.49%	3.93%	3.23%	2.78%	0.64%	2.90%	1.96%	2.85%	14.89%	1.73%	2.35%	1.14%
HRSMX Hood River Small-Cap Growth Fund	3.08%	4.23%	3.75%	0.00%	0.00%	19.96%	6.28%	0.00%	4.59%	6.74%	0.00%	5.73%

Frequently Asked Questions

Can I hold both HRSMX and GSIKX in my portfolio?

HRSMX and GSIKX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HRSMX or GSIKX?

HRSMX has higher volatility (9.52%) compared to GSIKX (4.28%). In terms of maximum drawdown, HRSMX dropped -64.92% vs GSIKX's -56.58%.

Which has better risk-adjusted returns?

HRSMX currently has the higher Sharpe Ratio (2.85 vs 2.07), 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.