PZIEX vs. GSIYX
PZIEX (Pzena Emerging Markets Value Fund Institutional Class) and GSIYX (Goldman Sachs GQG Partners International Opportunities Fund Class R6) are both mutual funds - PZIEX is a Emerging Markets Equities fund actively managed by Pzena, while GSIYX is a Foreign Large Cap Equities fund tracking the MSCI AC World ex USA Growth (Net). PZIEX is actively managed, while GSIYX is passively managed. Over the past 5 years, PZIEX returned 11.78%/yr vs 9.23%/yr for GSIYX. Their 0.44 correlation means their historical movements had little consistent relationship. PZIEX charges 1.08%/yr vs 0.75%/yr for GSIYX.
Performance
PZIEX vs. GSIYX - Performance Comparison
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Returns By Period
In the year-to-date period, PZIEX achieves a 11.34% return, which is significantly higher than GSIYX's 8.15% return.
PZIEX
- 1D
- 0.35%
- 1M
- 2.58%
- 6M
- -1.10%
- YTD
- 11.34%
- 1Y
- 28.39%
- 3Y*
- 16.01%
- 5Y*
- 11.78%
- 10Y*
- 11.00%
- ALL TIME*
- 9.21%
GSIYX
- 1D
- 0.62%
- 1M
- 2.02%
- 6M
- 4.43%
- YTD
- 8.15%
- 1Y
- 15.65%
- 3Y*
- 15.48%
- 5Y*
- 9.23%
- 10Y*
- —
- ALL TIME*
- 12.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PZIEX vs. GSIYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 11.34% | 35.49% | 4.54% | 20.73% | -5.67% | 6.65% | 8.43% | 13.57% | -10.23% | 29.98% |
GSIYX Goldman Sachs GQG Partners International Opportunities Fund Class R6 | 8.15% | 20.89% | 9.69% | 22.07% | -10.99% | 12.47% | 15.86% | 27.59% | -6.02% | 29.91% |
Correlation
The correlation between PZIEX and GSIYX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.44 |
Over the past year, the correlation between PZIEX and GSIYX has dropped to 0.09 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
PZIEX vs. GSIYX — Risk / Return Rank
PZIEX
GSIYX
PZIEX vs. GSIYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena Emerging Markets Value Fund Institutional Class (PZIEX) and Goldman Sachs GQG Partners International Opportunities Fund Class R6 (GSIYX). 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.
| PZIEX | GSIYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.01 | -0.05 |
| Martin ratioReturn relative to average drawdown | 5.16 | 5.51 | -0.34 |
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Drawdowns
PZIEX vs. GSIYX - Drawdown Comparison
The maximum PZIEX drawdown since its inception was -44.59%, which is greater than GSIYX's maximum drawdown of -28.79%. Use the drawdown chart below to compare losses from any high point for PZIEX and GSIYX.
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Drawdown Indicators
| PZIEX | GSIYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.59% | -28.79% | -15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -7.81% | -4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -10.30% | -6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | -25.36% | +1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -44.59% | — | — |
Current DrawdownCurrent decline from peak | -7.07% | -2.17% | -4.90% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -4.80% | -4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 2.85% | +2.01% |
Volatility
PZIEX vs. GSIYX - Volatility Comparison
Pzena Emerging Markets Value Fund Institutional Class (PZIEX) has a higher volatility of 4.14% compared to Goldman Sachs GQG Partners International Opportunities Fund Class R6 (GSIYX) at 2.75%. This indicates that PZIEX's price experiences larger fluctuations and is considered to be riskier than GSIYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PZIEX | GSIYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 2.75% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 13.76% | 8.20% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 9.88% | +6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 14.27% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.33% | 15.62% | -0.29% |
PZIEX vs. GSIYX - Expense Ratio Comparison
PZIEX has a 1.08% expense ratio, which is higher than GSIYX's 0.75% expense ratio.
Dividends
PZIEX vs. GSIYX - Dividend Comparison
PZIEX's dividend yield for the trailing twelve months is around 4.32%, less than GSIYX's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSIYX Goldman Sachs GQG Partners International Opportunities Fund Class R6 | 4.76% | 5.14% | 11.21% | 2.38% | 4.91% | 2.25% | 0.19% | 0.67% | 0.55% | 0.16% | 0.00% | 0.00% |
PZIEX Pzena Emerging Markets Value Fund Institutional Class | 4.32% | 4.81% | 7.38% | 5.79% | 2.08% | 2.79% | 1.28% | 6.32% | 1.28% | 1.41% | 0.98% | 2.23% |
Frequently Asked Questions
PZIEX and GSIYX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PZIEX has higher volatility (4.14%) compared to GSIYX (2.75%). In terms of maximum drawdown, PZIEX dropped -44.59% vs GSIYX's -28.79%.
GSIYX currently has the higher Sharpe Ratio (1.60 vs 1.57), 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.
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