GSEU vs. VGK

Last updated Jun 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 9.21%/yr vs 9.26%/yr for VGK. With a 0.96 correlation, they move nearly in lockstep. 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

As of year-to-date, both investments have demonstrated similar returns, with GSEU at 5.62% and VGK at 5.62%. Both investments have delivered pretty close results over the past 10 years, with GSEU having a 9.21% annualized return and VGK not far ahead at 9.26%.

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%

VGK

• 1D: -1.19%
• 1M: 2.79%
• YTD: 5.62%
• 6M: 8.66%
• 1Y: 18.01%
• 3Y*: 16.32%
• 5Y*: 8.24%
• 10Y*: 9.26%

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

GSEU vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	5.62%	35.70%	2.00%	20.74%	-17.90%	17.33%	6.64%	24.57%	-14.29%	26.97%
VGK Vanguard FTSE Europe ETF	5.62%	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 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 7, 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%	23.9%
Industrials	19.9%	19.5%
Healthcare	13.1%	12.1%
Consumer Defensive	8.4%	8.5%
Technology	8.1%	8.3%
Consumer Cyclical	6.6%	6.8%
Basic Materials	5.0%	5.4%
Utilities	4.8%	4.8%
Communication Services	4.6%	3.3%
Energy	4.4%	5.3%
Real Estate	0.6%	1.5%

Return for Risk

GSEU vs. VGK — 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

VGK

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

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. 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.

	GSEU	VGK	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.18	-0.01
Sortino ratio: Return per unit of downside risk	1.68	1.72	-0.04
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.47	1.50	-0.02
Martin ratio: Return relative to average drawdown	5.54	5.56	-0.03
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. VGK - Sharpe Ratio Comparison

The current GSEU Sharpe Ratio is 1.16, which is comparable to the VGK Sharpe Ratio of 1.18. 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.

Sharpe Ratios by Period

	GSEU	VGK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	1.18	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.46	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.49	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.28	+0.25

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	-2.16%	-2.41%	+0.25%
Average Drawdown Average peak-to-trough decline	-6.60%	-13.34%	+6.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.25%	-0.09%

Volatility

GSEU vs. VGK - Volatility Comparison

Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and Vanguard FTSE Europe ETF (VGK) have volatilities of 5.58% and 5.73%, 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	5.58%	5.73%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	12.78%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	15.40%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	17.90%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	18.96%	-0.85%

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 2.58%, 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	2.58%	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 0.99, 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 (5.73%) compared to GSEU (5.58%). 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 9.26% vs 9.21% for GSEU. On fees, VGK is cheaper at 0.06% 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 VGK?

Over the 10-year period, VGK has performed better with a 9.26% return vs 9.21%. 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 2.58% 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?

VGK currently has the higher Sharpe Ratio (1.18 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.