GMOI vs. GSIB

Last updated Jun 13, 2026

GMOI (GMO International Value ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - GMOI is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Value, while GSIB is a Financials Equities fund actively managed by Themes. GMOI is passively managed, while GSIB is actively managed. Over the past year, GMOI returned 37.41% vs 47.83% for GSIB. A 0.75 correlation means they provide meaningful diversification when combined. GMOI charges 0.60%/yr vs 0.35%/yr for GSIB.

Performance

GMOI vs. GSIB - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with GMOI having a 14.33% return and GSIB slightly lower at 13.98%.

GMOI

• 1D: 0.48%
• 1M: 1.10%
• YTD: 14.33%
• 6M: 15.48%
• 1Y: 37.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSIB

• 1D: 1.92%
• 1M: 6.99%
• YTD: 13.98%
• 6M: 16.88%
• 1Y: 47.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMOI vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GMOI GMO International Value ETF	14.33%	45.64%	-4.48%
GSIB Themes Global Systemically Important Banks ETF	13.98%	61.67%	4.38%

Correlation

The correlation between GMOI and GSIB is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.75

The correlation between GMOI and GSIB has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.

Return for Risk

GMOI vs. GSIB — Risk / Return Rank

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

GMOI

GMOI Risk / Return Rank: 89
GMOI Sharpe Ratio Rank: 90
GMOI Sortino Ratio Rank: 90
GMOI Omega Ratio Rank: 88
GMOI Calmar Ratio Rank: 87
GMOI Martin Ratio Rank: 88

GSIB

GSIB Risk / Return Rank: 81
GSIB Sharpe Ratio Rank: 89
GSIB Sortino Ratio Rank: 89
GSIB Omega Ratio Rank: 83
GSIB Calmar Ratio Rank: 74
GSIB Martin Ratio Rank: 71

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.

GMOI vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Value ETF (GMOI) 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.

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.

	GMOI	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.59	+0.11
Sortino ratio: Return per unit of downside risk	3.70	3.58	+0.13
Omega ratio: Gain probability vs. loss probability	1.47	1.43	+0.04
Calmar ratio: Return relative to maximum drawdown	4.33	3.28	+1.06
Martin ratio: Return relative to average drawdown	17.08	11.54	+5.54

GMOI vs. GSIB - Sharpe Ratio Comparison

The current GMOI Sharpe Ratio is 2.69, which is comparable to the GSIB Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of GMOI 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.

Drawdowns

GMOI vs. GSIB - Drawdown Comparison

The maximum GMOI drawdown since its inception was -14.67%, smaller than the maximum GSIB drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for GMOI and GSIB.

Drawdown Indicators

	GMOI	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-14.67%	-17.71%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-13.90%	+5.54%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.69%	-2.05%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	3.94%	-1.81%

Volatility

GMOI vs. GSIB - Volatility Comparison

The current volatility for GMO International Value ETF (GMOI) is 4.15%, while Themes Global Systemically Important Banks ETF (GSIB) has a volatility of 5.59%. This indicates that GMOI experiences smaller price fluctuations and is considered to be less risky than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMOI	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	5.59%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	10.62%	14.41%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.47%	17.63%	-4.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	18.51%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	18.51%	-2.89%

GMOI vs. GSIB - Expense Ratio Comparison

GMOI has a 0.60% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

GMOI vs. GSIB - Dividend Comparison

GMOI's dividend yield for the trailing twelve months is around 2.39%, more than GSIB's 1.67% yield.

Position	TTM	2025	2024
GMOI GMO International Value ETF	2.39%	2.74%	0.54%
GSIB Themes Global Systemically Important Banks ETF	1.67%	1.91%	1.67%

Frequently Asked Questions

Can I hold both GMOI and GSIB in my portfolio?

GMOI and GSIB have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMOI or GSIB?

GSIB has higher volatility (5.59%) compared to GMOI (4.15%). In terms of maximum drawdown, GMOI dropped -14.67% vs GSIB's -17.71%.

Which ETF is better, GMOI or GSIB?

On 1-year performance, GSIB leads with 47.83% vs 37.41% for GMOI. On fees, GSIB is cheaper at 0.35% per year. On volatility, GMOI has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GMOI or GSIB?

Over the 1-year period, GSIB has performed better with a 47.83% return vs 37.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GMOI or GSIB?

GSIB is cheaper with a 0.35% expense ratio, compared with 0.60% for GMOI.

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

GMOI has the higher dividend yield at 2.39%, compared with 1.67% for GSIB.

What is the main difference between GMOI and GSIB?

GMOI is categorized as Foreign Large Cap Equities, while GSIB is Financials Equities. They also come from different issuers: GMO and Themes. Their fees differ too: 0.60% for GMOI and 0.35% for GSIB.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.69 vs 2.59), 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.