GSEU vs. EWP
Compare and contrast key facts about Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and iShares MSCI Spain ETF (EWP).
GSEU and EWP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. EWP is a passively managed fund by iShares that tracks the performance of the MSCI Spain Index. It was launched on Mar 12, 1996. Both GSEU and EWP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GSEU vs. EWP - Performance Comparison
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GSEU vs. EWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSEU Goldman Sachs ActiveBeta Europe Equity ETF | -1.07% | 35.70% | 2.00% | 20.74% | -17.90% | 17.33% | 6.64% | 24.57% | -14.29% | 26.97% |
EWP iShares MSCI Spain ETF | 0.74% | 78.03% | 5.70% | 30.26% | -5.18% | 0.25% | -3.94% | 11.93% | -15.32% | 26.98% |
Returns By Period
In the year-to-date period, GSEU achieves a -1.07% return, which is significantly lower than EWP's 0.74% return. Over the past 10 years, GSEU has underperformed EWP with an annualized return of 8.82%, while EWP has yielded a comparatively higher 10.80% annualized return.
GSEU
- 1D
- 2.96%
- 1M
- -7.92%
- YTD
- -1.07%
- 6M
- 4.48%
- 1Y
- 20.81%
- 3Y*
- 14.25%
- 5Y*
- 8.55%
- 10Y*
- 8.82%
EWP
- 1D
- 4.00%
- 1M
- -5.12%
- YTD
- 0.74%
- 6M
- 11.24%
- 1Y
- 46.32%
- 3Y*
- 28.91%
- 5Y*
- 18.10%
- 10Y*
- 10.80%
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GSEU vs. EWP - Expense Ratio Comparison
GSEU has a 0.25% expense ratio, which is lower than EWP's 0.50% expense ratio.
Return for Risk
GSEU vs. EWP — Risk / Return Rank
GSEU
EWP
GSEU vs. EWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and iShares MSCI Spain ETF (EWP). 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 | EWP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 2.17 | -0.96 |
Sortino ratioReturn per unit of downside risk | 1.70 | 2.74 | -1.04 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.41 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.64 | 3.69 | -2.05 |
Martin ratioReturn relative to average drawdown | 6.35 | 14.14 | -7.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSEU | EWP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 2.17 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.91 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.49 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.31 | +0.19 |
Correlation
The correlation between GSEU and EWP is 0.80, 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.
Dividends
GSEU vs. EWP - Dividend Comparison
GSEU's dividend yield for the trailing twelve months is around 2.75%, more than EWP's 2.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSEU Goldman Sachs ActiveBeta Europe Equity ETF | 2.75% | 2.72% | 2.35% | 3.41% | 3.34% | 2.71% | 1.84% | 3.69% | 3.40% | 2.51% | 2.74% | 0.00% |
EWP iShares MSCI Spain ETF | 2.25% | 2.27% | 4.35% | 2.70% | 3.07% | 3.29% | 2.56% | 3.72% | 3.69% | 2.72% | 4.65% | 3.85% |
Drawdowns
GSEU vs. EWP - Drawdown Comparison
The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum EWP drawdown of -61.19%. Use the drawdown chart below to compare losses from any high point for GSEU and EWP.
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Drawdown Indicators
| GSEU | EWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.71% | -61.19% | +25.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -12.19% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -33.98% | -33.91% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -35.71% | -46.36% | +10.65% |
Current DrawdownCurrent decline from peak | -8.35% | -6.78% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -21.54% | +14.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.18% | -0.10% |
Volatility
GSEU vs. EWP - Volatility Comparison
The current volatility for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) is 7.68%, while iShares MSCI Spain ETF (EWP) has a volatility of 9.97%. This indicates that GSEU experiences smaller price fluctuations and is considered to be less risky than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSEU | EWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 9.97% | -2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 14.14% | -3.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.42% | 21.52% | -4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 20.02% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 22.21% | -4.18% |