ACWV vs. GSWO
ACWV (iShares MSCI Global Min Vol Factor ETF) and GSWO (Goldman Sachs ActiveBeta World Equity ETF) are both exchange-traded funds - ACWV is a Large Cap Blend Equities fund tracking the MSCI ACWI Minimum Volatility Index, while GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, ACWV returned 9.62%/yr vs 17.48%/yr for GSWO. Their correlation of 0.85 suggests significant overlap in exposure. ACWV charges 0.20%/yr vs 0.25%/yr for GSWO.
Performance
ACWV vs. GSWO - Performance Comparison
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Returns By Period
In the year-to-date period, ACWV achieves a 1.23% return, which is significantly lower than GSWO's 8.64% return.
ACWV
- 1D
- -0.08%
- 1M
- -1.78%
- YTD
- 1.23%
- 6M
- 0.78%
- 1Y
- 3.93%
- 3Y*
- 9.62%
- 5Y*
- 5.34%
- 10Y*
- 7.32%
GSWO
- 1D
- -1.71%
- 1M
- -0.93%
- YTD
- 8.64%
- 6M
- 8.14%
- 1Y
- 17.89%
- 3Y*
- 17.48%
- 5Y*
- —
- 10Y*
- —
ACWV vs. GSWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ACWV iShares MSCI Global Min Vol Factor ETF | 1.23% | 11.04% | 11.38% | 8.23% | -5.32% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 8.64% | 18.97% | 15.29% | 16.28% | -6.15% |
Correlation
The correlation between ACWV and GSWO is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.85 |
The correlation between ACWV and GSWO shifts across timeframes, from 0.72 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ACWV vs. GSWO — Risk / Return Rank
ACWV
GSWO
ACWV vs. GSWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Min Vol Factor ETF (ACWV) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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.
| ACWV | GSWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.29 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 2.01 | -1.39 |
| Martin ratioReturn relative to average drawdown | 1.83 | 9.35 | -7.52 |
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Drawdowns
ACWV vs. GSWO - Drawdown Comparison
The maximum ACWV drawdown since its inception was -28.82%, which is greater than GSWO's maximum drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for ACWV and GSWO.
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Drawdown Indicators
| ACWV | GSWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -17.77% | -11.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.37% | -8.93% | +2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -9.97% | +2.41% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | — | — |
Current DrawdownCurrent decline from peak | -3.99% | -2.83% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -3.23% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.92% | +0.23% |
Volatility
ACWV vs. GSWO - Volatility Comparison
The current volatility for iShares MSCI Global Min Vol Factor ETF (ACWV) is 2.11%, while Goldman Sachs ActiveBeta World Equity ETF (GSWO) has a volatility of 4.94%. This indicates that ACWV experiences smaller price fluctuations and is considered to be less risky than GSWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACWV | GSWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 4.94% | -2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.70% | 10.08% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.82% | 11.58% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.22% | 13.07% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.29% | 13.07% | -0.78% |
ACWV vs. GSWO - Expense Ratio Comparison
ACWV has a 0.20% expense ratio, which is lower than GSWO's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ACWV vs. GSWO - Dividend Comparison
ACWV's dividend yield for the trailing twelve months is around 1.98%, more than GSWO's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWV iShares MSCI Global Min Vol Factor ETF | 1.98% | 2.09% | 2.33% | 2.41% | 2.18% | 1.92% | 1.77% | 2.54% | 2.32% | 2.04% | 2.56% | 2.28% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.65% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ACWV and GSWO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSWO has higher volatility (4.94%) compared to ACWV (2.11%). In terms of maximum drawdown, ACWV dropped -28.82% vs GSWO's -17.77%.
On 3-year performance, GSWO leads with 17.48% vs 9.62% for ACWV. On fees, ACWV is cheaper at 0.20% per year. On volatility, ACWV has been the lower-risk option at 2.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSWO has performed better with a 17.48% return vs 9.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWV is cheaper with a 0.20% expense ratio, compared with 0.25% for GSWO.
ACWV has the higher dividend yield at 1.98%, compared with 1.65% for GSWO.
ACWV is categorized as Large Cap Blend Equities, while GSWO is Global Equities. ACWV tracks MSCI ACWI Minimum Volatility Index, while GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.20% for ACWV and 0.25% for GSWO.
GSWO currently has the higher Sharpe Ratio (1.56 vs 0.51), 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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