GSEU vs. SOXQ

Last updated Jun 4, 2026

GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - GSEU is a Europe Equities fund tracking the Goldman Sachs ActiveBeta Europe Equity Index, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, GSEU returned 16.51%/yr vs 59.40%/yr for SOXQ. A 0.57 correlation means they provide meaningful diversification when combined. GSEU charges 0.25%/yr vs 0.19%/yr for SOXQ.

Performance

GSEU vs. SOXQ - Performance Comparison

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

Returns By Period

In the year-to-date period, GSEU achieves a 5.62% return, which is significantly lower than SOXQ's 96.72% return.

GSEU

• 1D: -1.00%
• 1M: 2.97%
• YTD: 5.62%
• 6M: 9.09%
• 1Y: 17.47%
• 3Y*: 16.51%
• 5Y*: 8.08%
• 10Y*: 9.21%

SOXQ

• 1D: 1.42%
• 1M: 32.12%
• YTD: 96.72%
• 6M: 91.61%
• 1Y: 181.76%
• 3Y*: 59.40%
• 5Y*: —
• 10Y*: —

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

GSEU vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	5.62%	35.70%	2.00%	20.74%	-17.90%	0.82%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between GSEU and SOXQ is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.57

The correlation between GSEU and SOXQ has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.

GSEU vs. SOXQ - Sectors Allocation Comparison

Sectors	GSEU	SOXQ
Financial Services	24.7%	0.0%
Industrials	19.9%	-
Healthcare	13.1%	-
Consumer Defensive	8.4%	-
Technology	8.1%	100.0%
Consumer Cyclical	6.6%	-
Basic Materials	5.0%	-
Utilities	4.8%	-
Communication Services	4.6%	-
Energy	4.4%	-
Real Estate	0.6%	-

Return for Risk

GSEU vs. SOXQ — Risk / Return Rank

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

GSEU

GSEU Risk / Return Rank: 32
GSEU Sharpe Ratio Rank: 32
GSEU Sortino Ratio Rank: 31
GSEU Omega Ratio Rank: 31
GSEU Calmar Ratio Rank: 30
GSEU Martin Ratio Rank: 35

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 95
SOXQ Omega Ratio Rank: 95
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

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. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Invesco PHLX Semiconductor ETF (SOXQ). 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	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	1.16	5.43	-4.26
Sortino ratio: Return per unit of downside risk	1.68	5.22	-3.54
Omega ratio: Gain probability vs. loss probability	1.21	1.72	-0.52
Calmar ratio: Return relative to maximum drawdown	1.47	11.73	-10.26
Martin ratio: Return relative to average drawdown	5.54	45.01	-39.47
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. SOXQ - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.16, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of GSEU and SOXQ, 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	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	5.43	-4.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.98	-0.46

Drawdowns

GSEU vs. SOXQ - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum SOXQ drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for GSEU and SOXQ.

Drawdown Indicators

	GSEU	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-46.01%	+10.30%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-15.59%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	-39.36%	+25.24%
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	—	—
Current Drawdown Current decline from peak	-2.16%	0.00%	-2.16%
Average Drawdown Average peak-to-trough decline	-6.60%	-12.96%	+6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	4.06%	-0.90%

Volatility

GSEU vs. SOXQ - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) is 5.58%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that GSEU experiences smaller price fluctuations and is considered to be less risky than SOXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEU	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	13.44%	-7.86%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	26.70%	-14.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	33.78%	-18.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	36.38%	-19.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	36.38%	-18.27%

GSEU vs. SOXQ - Expense Ratio Comparison

GSEU has a 0.25% expense ratio, which is higher than SOXQ's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSEU vs. SOXQ - Dividend Comparison

GSEU's dividend yield for the trailing twelve months is around 2.58%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.58%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSEU and SOXQ in my portfolio?

GSEU and SOXQ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEU or SOXQ?

SOXQ has higher volatility (13.44%) compared to GSEU (5.58%). In terms of maximum drawdown, GSEU dropped -35.71% vs SOXQ's -46.01%.

Which ETF is better, GSEU or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 16.51% for GSEU. On fees, SOXQ is cheaper at 0.19% per year. On volatility, GSEU has been the lower-risk option at 5.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEU or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 16.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEU or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.25% for GSEU.

Which ETF pays a higher dividend yield, GSEU or SOXQ?

GSEU has the higher dividend yield at 2.58%, compared with 0.26% for SOXQ.

What is the main difference between GSEU and SOXQ?

GSEU is categorized as Europe Equities, while SOXQ is Semiconductors. GSEU tracks Goldman Sachs ActiveBeta Europe Equity Index, while SOXQ tracks PHLX Semiconductor Sector Index. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.25% for GSEU and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 1.16), 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.