BPAY vs. GSIB

Last updated Apr 1, 2026

Compare and contrast key facts about BlackRock Future Financial and Technology ETF (BPAY) and Themes Global Systemically Important Banks ETF (GSIB).

BPAY and GSIB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BPAY is an actively managed fund by BlackRock. It was launched on Aug 16, 2022. GSIB is an actively managed fund by Themes. It was launched on Dec 14, 2023.

Performance

BPAY vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Future Financial and Technology ETF (BPAY) and Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

BPAY vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BPAY BlackRock Future Financial and Technology ETF	-18.58%	8.54%	17.28%	3.45%
GSIB Themes Global Systemically Important Banks ETF	-3.15%	61.67%	32.86%	2.35%

Returns By Period

In the year-to-date period, BPAY achieves a -18.58% return, which is significantly lower than GSIB's -3.15% return.

BPAY

• 1D: 3.03%
• 1M: -6.21%
• YTD: -18.58%
• 6M: -26.92%
• 1Y: -3.62%
• 3Y*: 8.30%
• 5Y*: —
• 10Y*: —

GSIB

• 1D: 4.01%
• 1M: -4.96%
• YTD: -3.15%
• 6M: 7.71%
• 1Y: 36.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BPAY vs. GSIB - Expense Ratio Comparison

BPAY has a 0.70% expense ratio, which is higher than GSIB's 0.35% expense ratio.

BPAY

BlackRock Future Financial and Technology ETF

GSIB

Themes Global Systemically Important Banks ETF

Return for Risk

BPAY vs. GSIB — Risk / Return Rank

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

BPAY

BPAY Risk / Return Rank: 10
BPAY Sharpe Ratio Rank: 9
BPAY Sortino Ratio Rank: 10
BPAY Omega Ratio Rank: 10
BPAY Calmar Ratio Rank: 10
BPAY Martin Ratio Rank: 10

GSIB

GSIB Risk / Return Rank: 86
GSIB Sharpe Ratio Rank: 88
GSIB Sortino Ratio Rank: 88
GSIB Omega Ratio Rank: 86
GSIB Calmar Ratio Rank: 86
GSIB Martin Ratio Rank: 82

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.

BPAY vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Future Financial and Technology ETF (BPAY) and Themes Global Systemically Important Banks ETF (GSIB). 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.

	BPAY	GSIB	Difference
Sharpe ratio Return per unit of total volatility	-0.12	1.79	-1.91
Sortino ratio Return per unit of downside risk	0.03	2.39	-2.37
Omega ratio Gain probability vs. loss probability	1.00	1.34	-0.33
Calmar ratio Return relative to maximum drawdown	-0.12	2.51	-2.63
Martin ratio Return relative to average drawdown	-0.30	8.62	-8.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPAY vs. GSIB - Sharpe Ratio Comparison

The current BPAY Sharpe Ratio is -0.12, which is lower than the GSIB Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of BPAY and GSIB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BPAY	GSIB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	1.79	-1.91
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	2.15	-2.17

Correlation

The correlation between BPAY and GSIB is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BPAY vs. GSIB - Dividend Comparison

BPAY's dividend yield for the trailing twelve months is around 7.97%, more than GSIB's 1.97% yield.

	TTM	2025	2024	2023	2022
BPAY BlackRock Future Financial and Technology ETF	7.97%	6.49%	0.48%	1.18%	0.18%
GSIB Themes Global Systemically Important Banks ETF	1.97%	1.91%	1.67%	0.00%	0.00%

Drawdowns

BPAY vs. GSIB - Drawdown Comparison

The maximum BPAY drawdown since its inception was -33.62%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for BPAY and GSIB.

Drawdown Indicators

	BPAY	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	-17.71%	-15.91%
Max Drawdown (1Y) Largest decline over 1 year	-33.62%	-14.59%	-19.03%
Current Drawdown Current decline from peak	-31.22%	-9.87%	-21.35%
Average Drawdown Average peak-to-trough decline	-9.86%	-2.06%	-7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.63%	4.25%	+9.38%

Volatility

BPAY vs. GSIB - Volatility Comparison

BlackRock Future Financial and Technology ETF (BPAY) and Themes Global Systemically Important Banks ETF (GSIB) have volatilities of 7.93% and 7.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPAY	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	7.69%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	19.05%	13.05%	+6.00%
Volatility (1Y) Calculated over the trailing 1-year period	29.28%	20.79%	+8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	18.39%	+5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	18.39%	+5.81%