GSEU vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and S&P 500 Index (^GSPC).

GSEU is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta Europe Equity Index. It was launched on Mar 2, 2016.

Performance

GSEU vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

GSEU vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	0.39%	35.70%	2.00%	20.74%	-17.90%	17.33%	6.64%	24.57%	-14.29%	26.97%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, GSEU achieves a 0.39% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, GSEU has underperformed ^GSPC with an annualized return of 8.98%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

GSEU

• 1D: 1.48%
• 1M: -4.54%
• YTD: 0.39%
• 6M: 5.00%
• 1Y: 22.46%
• 3Y*: 14.82%
• 5Y*: 8.87%
• 10Y*: 8.98%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

GSEU vs. ^GSPC — Risk / Return Rank

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

GSEU

GSEU Risk / Return Rank: 68
GSEU Sharpe Ratio Rank: 70
GSEU Sortino Ratio Rank: 69
GSEU Omega Ratio Rank: 68
GSEU Calmar Ratio Rank: 68
GSEU Martin Ratio Rank: 66

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

GSEU vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and S&P 500 Index (^GSPC). 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.

	GSEU	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.29	0.92	+0.38
Sortino ratio Return per unit of downside risk	1.82	1.41	+0.41
Omega ratio Gain probability vs. loss probability	1.26	1.21	+0.05
Calmar ratio Return relative to maximum drawdown	1.90	1.41	+0.48
Martin ratio Return relative to average drawdown	7.27	6.61	+0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSEU vs. ^GSPC - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.29, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of GSEU and ^GSPC, 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

	GSEU	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	0.92	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.61	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.68	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.46	+0.04

Correlation

The correlation between GSEU and ^GSPC is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

GSEU vs. ^GSPC - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for GSEU and ^GSPC.

Drawdown Indicators

	GSEU	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-56.78%	+21.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-12.14%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	-25.43%	-8.55%
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	-33.92%	-1.79%
Current Drawdown Current decline from peak	-7.00%	-5.78%	-1.22%
Average Drawdown Average peak-to-trough decline	-6.66%	-10.75%	+4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.60%	+0.51%

Volatility

GSEU vs. ^GSPC - Volatility Comparison

Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) has a higher volatility of 7.39% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that GSEU's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEU	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	5.37%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	9.55%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.44%	18.33%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	16.90%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	18.05%	-0.02%