GSEU vs. SICNX

Last updated Jun 5, 2026

GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) and SICNX (Schwab International Core Equity Fund) are both funds - GSEU is a Europe Equities fund tracking the Goldman Sachs ActiveBeta Europe Equity Index, while SICNX is a Foreign Large Cap Equities fund managed by Charles Schwab. Over the past 10 years, GSEU returned 9.25%/yr vs 8.80%/yr for SICNX. Their correlation of 0.91 suggests significant overlap in exposure. GSEU charges 0.25%/yr vs 0.86%/yr for SICNX.

Performance

GSEU vs. SICNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Schwab International Core Equity Fund (SICNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSEU achieves a 6.97% return, which is significantly lower than SICNX's 9.86% return. Both investments have delivered pretty close results over the past 10 years, with GSEU having a 9.25% annualized return and SICNX not far behind at 8.80%.

GSEU

• 1D: 1.28%
• 1M: 2.78%
• YTD: 6.97%
• 6M: 10.59%
• 1Y: 18.39%
• 3Y*: 17.27%
• 5Y*: 8.36%
• 10Y*: 9.25%

SICNX

• 1D: -0.65%
• 1M: 3.21%
• YTD: 9.86%
• 6M: 6.70%
• 1Y: 21.26%
• 3Y*: 19.69%
• 5Y*: 9.88%
• 10Y*: 8.80%

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

GSEU vs. SICNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	6.97%	35.70%	2.00%	20.74%	-17.90%	17.33%	6.64%	24.57%	-14.29%	26.97%
SICNX Schwab International Core Equity Fund	9.86%	31.57%	9.04%	20.00%	-15.31%	11.01%	4.64%	19.16%	-18.30%	25.48%

Correlation

The correlation between GSEU and SICNX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 7, 2016	0.91

The correlation between GSEU and SICNX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

GSEU vs. SICNX — Risk / Return Rank

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

GSEU

GSEU Risk / Return Rank: 34
GSEU Sharpe Ratio Rank: 34
GSEU Sortino Ratio Rank: 34
GSEU Omega Ratio Rank: 34
GSEU Calmar Ratio Rank: 31
GSEU Martin Ratio Rank: 38

SICNX

SICNX Risk / Return Rank: 23
SICNX Sharpe Ratio Rank: 21
SICNX Sortino Ratio Rank: 18
SICNX Omega Ratio Rank: 23
SICNX Calmar Ratio Rank: 24
SICNX Martin Ratio Rank: 27

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. SICNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Schwab International Core Equity Fund (SICNX). 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	SICNX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.33	-0.11
Sortino ratio: Return per unit of downside risk	1.75	1.80	-0.05
Omega ratio: Gain probability vs. loss probability	1.22	1.25	-0.03
Calmar ratio: Return relative to maximum drawdown	1.55	1.81	-0.26
Martin ratio: Return relative to average drawdown	5.83	6.36	-0.53
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. SICNX - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.22, which is comparable to the SICNX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of GSEU and SICNX, 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

	GSEU	SICNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.33	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.62	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.54	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.27	+0.26

Drawdowns

GSEU vs. SICNX - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum SICNX drawdown of -55.78%. Use the drawdown chart below to compare losses from any high point for GSEU and SICNX.

Drawdown Indicators

	GSEU	SICNX	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-55.78%	+20.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-12.21%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	-13.53%	-0.59%
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	-29.11%	-4.87%
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	-40.62%	+4.91%
Current Drawdown Current decline from peak	-0.90%	-1.88%	+0.98%
Average Drawdown Average peak-to-trough decline	-6.60%	-12.20%	+5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.47%	-0.31%

Volatility

GSEU vs. SICNX - Volatility Comparison

Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) has a higher volatility of 5.54% compared to Schwab International Core Equity Fund (SICNX) at 4.94%. This indicates that GSEU's price experiences larger fluctuations and is considered to be riskier than SICNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEU	SICNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	4.94%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	12.53%	14.29%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	16.66%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	16.13%	+1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	16.49%	+1.62%

GSEU vs. SICNX - Expense Ratio Comparison

GSEU has a 0.25% expense ratio, which is lower than SICNX's 0.86% expense ratio.

Dividends

GSEU vs. SICNX - Dividend Comparison

GSEU's dividend yield for the trailing twelve months is around 2.55%, while SICNX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.55%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%	0.00%
SICNX Schwab International Core Equity Fund	0.00%	0.00%	2.61%	2.67%	3.42%	2.86%	1.03%	3.56%	2.86%	2.61%	2.50%	2.04%

Frequently Asked Questions

Can I hold both GSEU and SICNX in my portfolio?

With a correlation of 0.92, GSEU and SICNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSEU or SICNX?

GSEU has higher volatility (5.54%) compared to SICNX (4.94%). In terms of maximum drawdown, GSEU dropped -35.71% vs SICNX's -55.78%.

Which has better risk-adjusted returns?

SICNX currently has the higher Sharpe Ratio (1.33 vs 1.22), 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.