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GSIB vs. EUFN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GSIB vs. EUFN

Last updated Jun 23, 2026

GSIB (Themes Global Systemically Important Banks ETF) and EUFN (iShares MSCI Europe Financials ETF) are both Financials Equities funds. GSIB is actively managed, while EUFN is passively managed. Over the past year, GSIB returned 50.38% vs 34.30% for EUFN. Their correlation of 0.84 suggests significant overlap in exposure. GSIB charges 0.35%/yr vs 0.49%/yr for EUFN.

Performance

GSIB vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Global Systemically Important Banks ETF (GSIB) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GSIB achieves a 17.00% return, which is significantly higher than EUFN's 8.60% return.

GSIB

1D
0.89%
1M
8.19%
YTD
17.00%
6M
17.44%
1Y
50.38%
3Y*
—
5Y*
—
10Y*
—

EUFN

1D
0.96%
1M
5.55%
YTD
8.60%
6M
8.95%
1Y
34.30%
3Y*
34.36%
5Y*
20.23%
10Y*
14.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GSIB vs. EUFN - Yearly Performance Comparison

2026 (YTD)202520242023
GSIB
Themes Global Systemically Important Banks ETF		17.00%61.67%32.86%1.75%
EUFN
iShares MSCI Europe Financials ETF		8.60%65.73%17.20%1.21%

Correlation

The correlation between GSIB and EUFN is 0.87, 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

0.87

Correlation (All Time)
Calculated using the full available price history since Dec 15, 2023

0.84

The correlation between GSIB and EUFN has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

GSIB vs. EUFN - Sectors Allocation Comparison

Sectors
GSIB
EUFN

Financial Services

100.0%
97.8%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

0.2%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

0.4%

Real Estate

-

-

Technology

-

1.0%

Utilities

-

-

Financial Services

GSIB
100.0%
EUFN
97.8%

Basic Materials

GSIB

-

EUFN

-

Communication Services

GSIB

-

EUFN

-

Consumer Cyclical

GSIB

-

EUFN
0.2%

Consumer Defensive

GSIB

-

EUFN

-

Energy

GSIB

-

EUFN

-

Healthcare

GSIB

-

EUFN

-

Industrials

GSIB

-

EUFN
0.4%

Real Estate

GSIB

-

EUFN

-

Technology

GSIB

-

EUFN
1.0%

Utilities

GSIB

-

EUFN

-

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Themes Global Systemically Important Banks ETF

iShares MSCI Europe Financials ETF

Often compared with GSIB:
GSIB vs. ATMPGSIB vs. PCGGGSIB vs. FTXOGSIB vs. GDEGSIB vs. FNGSGSIB vs. XLFGSIB vs. KXI
Often compared with EUFN:
EUFN vs. FDDEUFN vs. XLFEUFN vs. SPYEUFN vs. EURLEUFN vs. EIRLEUFN vs. IEUREUFN vs. SPAX

Return for Risk

GSIB vs. EUFN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GSIB
GSIB Risk / Return Rank: 8282
Overall Rank
GSIB Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
GSIB Sortino Ratio Rank: 9090
Sortino Ratio Rank
GSIB Omega Ratio Rank: 8484
Omega Ratio Rank
GSIB Calmar Ratio Rank: 7474
Calmar Ratio Rank
GSIB Martin Ratio Rank: 7171
Martin Ratio Rank
EUFN
EUFN Risk / Return Rank: 5050
Overall Rank
EUFN Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
EUFN Sortino Ratio Rank: 5252
Sortino Ratio Rank
EUFN Omega Ratio Rank: 4747
Omega Ratio Rank
EUFN Calmar Ratio Rank: 4848
Calmar Ratio Rank
EUFN Martin Ratio Rank: 4949
Martin Ratio Rank
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.

GSIB vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) and iShares MSCI Europe Financials ETF (EUFN). 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.

GSIBEUFNDifference
Sharpe ratioReturn per unit of total volatility
2.91
1.73

+1.19

Sortino ratioReturn per unit of downside risk
3.98
2.44

+1.53

Omega ratioGain probability vs. loss probability

1.48

1.30

+0.19

Calmar ratioReturn relative to maximum drawdown

3.64

2.33

+1.31

Martin ratioReturn relative to average drawdown

12.83

8.16

+4.67

GSIB vs. EUFN - Sharpe Ratio Comparison

The current GSIB Sharpe Ratio is 2.91, which is higher than the EUFN Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of GSIB and EUFN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GSIB vs. EUFN - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum EUFN drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for GSIB and EUFN.

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Drawdown Indicators

GSIBEUFNDifference

Max Drawdown

Largest peak-to-trough decline

-17.71%

-53.25%

+35.54%

Max Drawdown (1Y)

Largest decline over 1 year

-13.90%

-14.77%

+0.87%

Max Drawdown (3Y)

Largest decline over 3 years

—

-15.95%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-35.15%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-53.25%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-2.03%

-14.52%

+12.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.94%

4.22%

-0.28%

Volatility

GSIB vs. EUFN - Volatility Comparison

The current volatility for Themes Global Systemically Important Banks ETF (GSIB) is 4.81%, while iShares MSCI Europe Financials ETF (EUFN) has a volatility of 6.12%. This indicates that GSIB experiences smaller price fluctuations and is considered to be less risky than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GSIBEUFNDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.81%

6.12%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

14.37%

17.07%

-2.70%

Volatility (1Y)

Calculated over the trailing 1-year period

17.43%

20.02%

-2.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.46%

21.86%

-3.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.46%

24.45%

-5.99%

GSIB vs. EUFN - Expense Ratio Comparison

GSIB has a 0.35% expense ratio, which is lower than EUFN's 0.49% expense ratio.

Dividends

GSIB vs. EUFN - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.63%, less than EUFN's 4.23% yield.

PositionTTM20252024202320222021202020192018201720162015
EUFN
iShares MSCI Europe Financials ETF		4.23%3.57%5.36%5.00%4.24%4.15%1.38%4.55%6.48%3.04%4.03%3.65%
GSIB
Themes Global Systemically Important Banks ETF		1.63%1.91%1.67%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

GSIB and EUFN have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EUFN has higher volatility (6.12%) compared to GSIB (4.81%). In terms of maximum drawdown, GSIB dropped -17.71% vs EUFN's -53.25%.

On 1-year performance, GSIB leads with 50.38% vs 34.30% for EUFN. On fees, GSIB is cheaper at 0.35% per year. On volatility, GSIB has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GSIB has performed better with a 50.38% return vs 34.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GSIB is cheaper with a 0.35% expense ratio, compared with 0.49% for EUFN.

EUFN has the higher dividend yield at 4.23%, compared with 1.63% for GSIB.

They also come from different issuers: Themes and iShares. Their fees differ too: 0.35% for GSIB and 0.49% for EUFN.

GSIB currently has the higher Sharpe Ratio (2.91 vs 1.73), 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.

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