FEUZ vs. GSIB

Last updated Jun 4, 2026

FEUZ (First Trust Eurozone AlphaDEX ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - FEUZ is a Europe Equities fund tracking the NASDAQ AlphaDEX Eurozone Index, while GSIB is a Financials Equities fund actively managed by Themes. FEUZ is passively managed, while GSIB is actively managed. Over the past year, FEUZ returned 30.90% vs 42.41% for GSIB. A 0.73 correlation means they provide meaningful diversification when combined. FEUZ charges 0.80%/yr vs 0.35%/yr for GSIB.

Performance

FEUZ vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Eurozone AlphaDEX ETF (FEUZ) and Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEUZ achieves a 11.32% return, which is significantly higher than GSIB's 9.75% return.

FEUZ

• 1D: -0.85%
• 1M: 3.37%
• YTD: 11.32%
• 6M: 15.72%
• 1Y: 30.90%
• 3Y*: 24.31%
• 5Y*: 9.94%
• 10Y*: 10.35%

GSIB

• 1D: -1.07%
• 1M: 5.66%
• YTD: 9.75%
• 6M: 16.02%
• 1Y: 42.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEUZ vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FEUZ First Trust Eurozone AlphaDEX ETF	11.32%	56.34%	1.64%	2.57%
GSIB Themes Global Systemically Important Banks ETF	9.75%	61.67%	32.86%	2.35%

Correlation

The correlation between FEUZ and GSIB is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Dec 18, 2023	0.73

The correlation between FEUZ and GSIB has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

FEUZ vs. GSIB - Sectors Allocation Comparison

Sectors	FEUZ	GSIB
Industrials	27.4%	-
Energy	10.8%	-
Financial Services	10.6%	100.0%
Consumer Cyclical	9.2%	-
Utilities	8.3%	-
Basic Materials	7.5%	-
Technology	6.1%	-
Real Estate	6.0%	-
Consumer Defensive	5.3%	-
Healthcare	5.2%	-
Communication Services	3.7%	-

Return for Risk

FEUZ vs. GSIB — Risk / Return Rank

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

FEUZ

FEUZ Risk / Return Rank: 51
FEUZ Sharpe Ratio Rank: 52
FEUZ Sortino Ratio Rank: 49
FEUZ Omega Ratio Rank: 50
FEUZ Calmar Ratio Rank: 50
FEUZ Martin Ratio Rank: 54

GSIB

GSIB Risk / Return Rank: 68
GSIB Sharpe Ratio Rank: 75
GSIB Sortino Ratio Rank: 75
GSIB Omega Ratio Rank: 68
GSIB Calmar Ratio Rank: 61
GSIB Martin Ratio Rank: 60

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.

FEUZ vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX ETF (FEUZ) 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.

	FEUZ	GSIB	Difference
Sharpe ratio Return per unit of total volatility	1.80	2.47	-0.68
Sortino ratio Return per unit of downside risk	2.43	3.43	-1.00
Omega ratio Gain probability vs. loss probability	1.32	1.41	-0.10
Calmar ratio Return relative to maximum drawdown	2.49	3.07	-0.58
Martin ratio Return relative to average drawdown	9.42	10.80	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEUZ vs. GSIB - Sharpe Ratio Comparison

The current FEUZ Sharpe Ratio is 1.80, which is comparable to the GSIB Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FEUZ and GSIB, 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

	FEUZ	GSIB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.47	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	2.35	-1.92

Drawdowns

FEUZ vs. GSIB - Drawdown Comparison

The maximum FEUZ drawdown since its inception was -48.08%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for FEUZ and GSIB.

Drawdown Indicators

	FEUZ	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-48.08%	-17.71%	-30.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-13.90%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.08%	—	—
Current Drawdown Current decline from peak	-1.24%	-1.07%	-0.17%
Average Drawdown Average peak-to-trough decline	-10.49%	-2.06%	-8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	3.94%	-0.65%

Volatility

FEUZ vs. GSIB - Volatility Comparison

First Trust Eurozone AlphaDEX ETF (FEUZ) has a higher volatility of 6.59% compared to Themes Global Systemically Important Banks ETF (GSIB) at 5.26%. This indicates that FEUZ's price experiences larger fluctuations and is considered to be riskier than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEUZ	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	5.26%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	14.34%	13.97%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	17.24%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.96%	18.45%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.78%	18.45%	+3.33%

FEUZ vs. GSIB - Expense Ratio Comparison

FEUZ has a 0.80% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

FEUZ vs. GSIB - Dividend Comparison

FEUZ's dividend yield for the trailing twelve months is around 2.37%, more than GSIB's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEUZ First Trust Eurozone AlphaDEX ETF	2.37%	2.81%	2.01%	2.95%	3.14%	2.52%	1.46%	1.93%	2.46%	1.29%	2.12%	1.09%
GSIB Themes Global Systemically Important Banks ETF	1.74%	1.91%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEUZ and GSIB in my portfolio?

FEUZ and GSIB have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEUZ or GSIB?

FEUZ has higher volatility (6.59%) compared to GSIB (5.26%). In terms of maximum drawdown, FEUZ dropped -48.08% vs GSIB's -17.71%.

Which ETF is better, FEUZ or GSIB?

On 1-year performance, GSIB leads with 42.41% vs 30.90% for FEUZ. On fees, GSIB is cheaper at 0.35% per year. On volatility, GSIB has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEUZ or GSIB?

Over the 1-year period, GSIB has performed better with a 42.41% return vs 30.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEUZ or GSIB?

GSIB is cheaper with a 0.35% expense ratio, compared with 0.80% for FEUZ.

Which ETF pays a higher dividend yield, FEUZ or GSIB?

FEUZ has the higher dividend yield at 2.37%, compared with 1.74% for GSIB.

What is the main difference between FEUZ and GSIB?

FEUZ is categorized as Europe Equities, while GSIB is Financials Equities. They also come from different issuers: First Trust and Themes. Their fees differ too: 0.80% for FEUZ and 0.35% for GSIB.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.47 vs 1.80), 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.