GSEU vs. VGK

Last updated Aug 4, 2026

GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) and VGK (Vanguard FTSE Europe ETF) are both Europe Equities funds - GSEU tracks the Goldman Sachs ActiveBeta Europe Equity Index while VGK tracks the FTSE Developed Europe All Cap Index. Both are passively managed. Over the past 10 years, GSEU returned 9.89%/yr vs 10.04%/yr for VGK. Their 0.96 correlation means they have historically moved very closely together. GSEU charges 0.25%/yr vs 0.06%/yr for VGK.

Performance

GSEU vs. VGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Vanguard FTSE Europe ETF (VGK). 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 GSEU having a 11.15% return and VGK slightly lower at 10.75%. Both investments have delivered pretty close results over the past 10 years, with GSEU having a 9.89% annualized return and VGK not far ahead at 10.04%.

GSEU

• 1D: 0.57%
• 1M: 1.67%
• 6M: 5.72%
• YTD: 11.15%
• 1Y: 24.35%
• 3Y*: 17.59%
• 5Y*: 8.83%
• 10Y*: 9.89%
• ALL TIME*: 9.84%

VGK

• 1D: 0.38%
• 1M: 1.77%
• 6M: 4.99%
• YTD: 10.75%
• 1Y: 24.53%
• 3Y*: 17.52%
• 5Y*: 9.15%
• 10Y*: 10.04%
• ALL TIME*: 6.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	$248.65K	$275.55K	$307.56K
VGK Vanguard FTSE Europe ETF	$216.43M	$182.63M	$227.46M

GSEU vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	11.15%	35.70%	2.00%	20.74%	-17.90%	17.33%	6.64%	24.57%	-14.29%	26.97%
VGK Vanguard FTSE Europe ETF	10.75%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%

Correlation

The correlation between GSEU and VGK is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Mar 4, 2016	0.96

The correlation between GSEU and VGK has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

GSEU vs. VGK - Sectors Allocation Comparison

Sectors	GSEU	VGK
Financial Services	24.7%	24.1%
Industrials	19.9%	20.0%
Healthcare	13.7%	12.6%
Technology	9.4%	9.9%
Consumer Defensive	8.4%	7.8%
Consumer Cyclical	6.7%	7.0%
Utilities	4.6%	4.5%
Basic Materials	4.6%	5.2%
Energy	3.8%	4.5%
Communication Services	3.7%	2.8%
Real Estate	0.5%	1.5%

Return for Risk

GSEU vs. VGK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSEU

GSEU Risk / Return Rank: 62
GSEU Sharpe Ratio Rank: 65
GSEU Sortino Ratio Rank: 65
GSEU Omega Ratio Rank: 62
GSEU Calmar Ratio Rank: 55
GSEU Martin Ratio Rank: 63

VGK

VGK Risk / Return Rank: 63
VGK Sharpe Ratio Rank: 66
VGK Sortino Ratio Rank: 67
VGK Omega Ratio Rank: 63
VGK Calmar Ratio Rank: 56
VGK Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GSEU vs. VGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Vanguard FTSE Europe ETF (VGK). 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.

	GSEU	VGK	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.55	+0.03
Sortino ratio: Return per unit of downside risk	2.26	2.25	+0.01
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	2.05	2.04	+0.02
Martin ratio: Return relative to average drawdown	7.92	7.76	+0.17

GSEU vs. VGK - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.59, which is comparable to the VGK Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of GSEU and VGK, 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

GSEU vs. VGK - Drawdown Comparison

The maximum GSEU drawdown since its inception was -35.71%, smaller than the maximum VGK drawdown of -63.61%. Use the drawdown chart below to compare losses from any high point for GSEU and VGK.

Drawdown Indicators

	GSEU	VGK	Difference
Max Drawdown Largest peak-to-trough decline	-35.71%	-63.61%	+27.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-12.09%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	-14.31%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-33.98%	-32.74%	-1.24%
Max Drawdown (10Y) Largest decline over 10 years	-35.71%	-37.24%	+1.53%
Current Drawdown Current decline from peak	0.00%	-0.07%	+0.07%
Average Drawdown Average peak-to-trough decline	-6.51%	-13.25%	+6.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.17%	-0.09%

Volatility

GSEU vs. VGK - Volatility Comparison

Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Vanguard FTSE Europe ETF (VGK) have volatilities of 3.94% and 4.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEU	VGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	4.11%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.26%	13.73%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	15.88%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	17.98%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	18.49%	-0.80%

GSEU vs. VGK - Expense Ratio Comparison

GSEU has a 0.25% expense ratio, which is higher than VGK's 0.06% 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. VGK - Dividend Comparison

GSEU's dividend yield for the trailing twelve months is around 2.70%, less than VGK's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.70%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%	0.00%
VGK Vanguard FTSE Europe ETF	2.82%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both GSEU and VGK in my portfolio?

With a correlation of 0.98, GSEU and VGK 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 VGK?

VGK has higher volatility (4.11%) compared to GSEU (3.94%). In terms of maximum drawdown, GSEU dropped -35.71% vs VGK's -63.61%.

Which ETF is better, GSEU or VGK?

On 10-year performance, VGK leads with 10.04% vs 9.89% for GSEU. On fees, VGK is cheaper at 0.06% per year. On volatility, GSEU has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEU or VGK?

Over the 10-year period, VGK has performed better with a 10.04% return vs 9.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEU or VGK?

VGK is cheaper with a 0.06% expense ratio, compared with 0.25% for GSEU.

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

VGK has the higher dividend yield at 2.82%, compared with 2.70% for GSEU.

What is the main difference between GSEU and VGK?

GSEU tracks Goldman Sachs ActiveBeta Europe Equity Index, while VGK tracks FTSE Developed Europe All Cap Index. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.25% for GSEU and 0.06% for VGK.

Which has better risk-adjusted returns?

GSEU currently has the higher Sharpe Ratio (1.59 vs 1.55), 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.