GSIB vs. PBEU

Last updated Aug 2, 2026

GSIB (Themes Global Systemically Important Banks ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds. GSIB is actively managed, while PBEU is passively managed. Their correlation of 0.88 means they have usually moved in the same direction. GSIB charges 0.35%/yr vs 0.13%/yr for PBEU.

Performance

GSIB vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Global Systemically Important Banks ETF (GSIB) and Portfolio Building Block European Banks Index ETF (PBEU). 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 GSIB having a 22.66% return and PBEU slightly lower at 21.81%.

GSIB

• 1D: -0.11%
• 1M: 6.55%
• 6M: 18.14%
• YTD: 22.66%
• 1Y: 49.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.58%

PBEU

• 1D: -0.11%
• 1M: 5.63%
• 6M: 13.95%
• YTD: 21.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
GSIB Themes Global Systemically Important Banks ETF	$2.37M	$1.31M	$753.15K
PBEU Portfolio Building Block European Banks Index ETF	$1.85M	$6.79M	$5.48M

GSIB vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
GSIB Themes Global Systemically Important Banks ETF	22.66%	10.34%
PBEU Portfolio Building Block European Banks Index ETF	21.81%	11.42%

Correlation

The correlation between GSIB and PBEU is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.88

Return for Risk

GSIB vs. PBEU — Risk / Return Rank

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

GSIB

GSIB Risk / Return Rank: 90
GSIB Sharpe Ratio Rank: 94
GSIB Sortino Ratio Rank: 93
GSIB Omega Ratio Rank: 91
GSIB Calmar Ratio Rank: 87
GSIB Martin Ratio Rank: 85

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GSIB vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) and Portfolio Building Block European Banks Index ETF (PBEU). 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	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	2.63	—	—
Sortino ratio: Return per unit of downside risk	3.65	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.38	—	—
Martin ratio: Return relative to average drawdown	11.87	—	—

Drawdowns

GSIB vs. PBEU - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, roughly equal to the maximum PBEU drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for GSIB and PBEU.

Drawdown Indicators

	GSIB	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-17.26%	-0.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	—	—
Current Drawdown Current decline from peak	-0.11%	-0.11%	0.00%
Average Drawdown Average peak-to-trough decline	-1.99%	-3.54%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	—	—

Volatility

Volatility by Period

	GSIB	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	27.34%	-9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.46%	27.34%	-8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.46%	27.34%	-8.88%

GSIB vs. PBEU - Expense Ratio Comparison

GSIB has a 0.35% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

GSIB vs. PBEU - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.55%, more than PBEU's 0.01% yield.

Position	TTM	2025	2024
GSIB Themes Global Systemically Important Banks ETF	1.55%	1.91%	1.67%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%

Frequently Asked Questions

Can I hold both GSIB and PBEU in my portfolio?

GSIB and PBEU have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSIB or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSIB or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.35% for GSIB.

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

GSIB has the higher dividend yield at 1.55%, compared with 0.01% for PBEU.

What is the main difference between GSIB and PBEU?

They also come from different issuers: Themes and Portfolio Building Block. Their fees differ too: 0.35% for GSIB and 0.13% for PBEU.