GSIB vs. IVLU

Last updated Jun 13, 2026

GSIB (Themes Global Systemically Important Banks ETF) and IVLU (iShares MSCI International Value Factor ETF) are both exchange-traded funds - GSIB is a Financials Equities fund actively managed by Themes, while IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index. GSIB is actively managed, while IVLU is passively managed. Over the past year, GSIB returned 47.83% vs 35.32% for IVLU. A 0.79 correlation means they provide meaningful diversification when combined. GSIB charges 0.35%/yr vs 0.30%/yr for IVLU.

Performance

GSIB vs. IVLU - 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 International Value Factor ETF (IVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIB achieves a 13.98% return, which is significantly higher than IVLU's 12.96% return.

GSIB

• 1D: 1.92%
• 1M: 6.99%
• YTD: 13.98%
• 6M: 16.88%
• 1Y: 47.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVLU

• 1D: 0.56%
• 1M: 0.66%
• YTD: 12.96%
• 6M: 14.33%
• 1Y: 35.32%
• 3Y*: 23.53%
• 5Y*: 14.06%
• 10Y*: 11.63%

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

GSIB vs. IVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSIB Themes Global Systemically Important Banks ETF	13.98%	61.67%	32.86%	1.75%
IVLU iShares MSCI International Value Factor ETF	12.96%	46.09%	6.76%	1.54%

Correlation

The correlation between GSIB and IVLU is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.79

The correlation between GSIB and IVLU has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

GSIB vs. IVLU - Sectors Allocation Comparison

Sectors	GSIB	IVLU
Financial Services	100.0%	25.3%
Basic Materials	-	7.5%
Communication Services	-	4.0%
Consumer Cyclical	-	7.4%
Consumer Defensive	-	6.3%
Energy	-	5.1%
Healthcare	-	9.7%
Industrials	-	17.2%
Real Estate	-	1.5%
Technology	-	11.3%
Utilities	-	3.3%

Return for Risk

GSIB vs. IVLU — Risk / Return Rank

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

GSIB

GSIB Risk / Return Rank: 81
GSIB Sharpe Ratio Rank: 89
GSIB Sortino Ratio Rank: 89
GSIB Omega Ratio Rank: 83
GSIB Calmar Ratio Rank: 74
GSIB Martin Ratio Rank: 71

IVLU

IVLU Risk / Return Rank: 73
IVLU Sharpe Ratio Rank: 78
IVLU Sortino Ratio Rank: 77
IVLU Omega Ratio Rank: 76
IVLU Calmar Ratio Rank: 67
IVLU Martin Ratio Rank: 69

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. IVLU - 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 International Value Factor ETF (IVLU). 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.

	GSIB	IVLU	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.17	+0.42
Sortino ratio: Return per unit of downside risk	3.58	2.98	+0.60
Omega ratio: Gain probability vs. loss probability	1.43	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	3.28	2.90	+0.38
Martin ratio: Return relative to average drawdown	11.54	11.01	+0.53

GSIB vs. IVLU - Sharpe Ratio Comparison

The current GSIB Sharpe Ratio is 2.59, which is comparable to the IVLU Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of GSIB and IVLU, 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

GSIB vs. IVLU - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum IVLU drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for GSIB and IVLU.

Drawdown Indicators

	GSIB	IVLU	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-41.85%	+24.14%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	-11.69%	-2.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.85%	—
Current Drawdown Current decline from peak	0.00%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	-2.05%	-8.57%	+6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.09%	+0.85%

Volatility

GSIB vs. IVLU - Volatility Comparison

Themes Global Systemically Important Banks ETF (GSIB) and iShares MSCI International Value Factor ETF (IVLU) have volatilities of 5.59% and 5.44%, 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

	GSIB	IVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	5.44%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	14.41%	12.85%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.63%	15.65%	+1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	16.58%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.51%	17.66%	+0.85%

GSIB vs. IVLU - Expense Ratio Comparison

GSIB has a 0.35% expense ratio, which is higher than IVLU's 0.30% expense ratio.

Dividends

GSIB vs. IVLU - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.67%, less than IVLU's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIB Themes Global Systemically Important Banks ETF	1.67%	1.91%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IVLU iShares MSCI International Value Factor ETF	3.28%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%

Frequently Asked Questions

Can I hold both GSIB and IVLU in my portfolio?

GSIB and IVLU have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIB or IVLU?

GSIB has higher volatility (5.59%) compared to IVLU (5.44%). In terms of maximum drawdown, GSIB dropped -17.71% vs IVLU's -41.85%.

Which ETF is better, GSIB or IVLU?

On 1-year performance, GSIB leads with 47.83% vs 35.32% for IVLU. On fees, IVLU is cheaper at 0.30% per year. On volatility, IVLU has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIB or IVLU?

Over the 1-year period, GSIB has performed better with a 47.83% return vs 35.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIB or IVLU?

IVLU is cheaper with a 0.30% expense ratio, compared with 0.35% for GSIB.

Which ETF pays a higher dividend yield, GSIB or IVLU?

IVLU has the higher dividend yield at 3.28%, compared with 1.67% for GSIB.

What is the main difference between GSIB and IVLU?

GSIB is categorized as Financials Equities, while IVLU is Foreign Large Cap Equities. They also come from different issuers: Themes and iShares. Their fees differ too: 0.35% for GSIB and 0.30% for IVLU.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.59 vs 2.17), 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.