GSIB vs. STCE

Last updated Jul 22, 2026

GSIB (Themes Global Systemically Important Banks ETF) and STCE (Schwab Crypto Thematic ETF) are both exchange-traded funds - GSIB is a Financials Equities fund actively managed by Themes, while STCE is a Blockchain fund tracking the Schwab Crypto Thematic Index. GSIB is actively managed, while STCE is passively managed. Over the past year, GSIB returned 43.71% vs 20.08% for STCE. At a 0.43 correlation, their price movements are largely independent. GSIB charges 0.35%/yr vs 0.30%/yr for STCE.

Performance

GSIB vs. STCE - Performance Comparison

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

Returns By Period

In the year-to-date period, GSIB achieves a 19.16% return, which is significantly higher than STCE's 13.97% return.

GSIB

• 1D: 1.06%
• 1M: 2.75%
• 6M: 18.02%
• YTD: 19.16%
• 1Y: 43.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.54%

STCE

• 1D: 4.92%
• 1M: -13.45%
• 6M: -3.75%
• YTD: 13.97%
• 1Y: 20.08%
• 3Y*: 38.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.59%

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

GSIB vs. STCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSIB Themes Global Systemically Important Banks ETF	19.16%	61.67%	32.86%	1.75%
STCE Schwab Crypto Thematic ETF	13.97%	36.12%	41.76%	7.44%

Correlation

The correlation between GSIB and STCE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.43

GSIB vs. STCE - Sectors Allocation Comparison

Sectors	GSIB	STCE
Financial Services	99.4%	66.5%
Technology	0.1%	26.0%
Basic Materials	-	-
Communication Services	-	6.6%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	1.0%

Return for Risk

GSIB vs. STCE — Risk / Return Rank

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

GSIB

GSIB Risk / Return Rank: 87
GSIB Sharpe Ratio Rank: 92
GSIB Sortino Ratio Rank: 92
GSIB Omega Ratio Rank: 88
GSIB Calmar Ratio Rank: 81
GSIB Martin Ratio Rank: 79

STCE

STCE Risk / Return Rank: 18
STCE Sharpe Ratio Rank: 17
STCE Sortino Ratio Rank: 22
STCE Omega Ratio Rank: 20
STCE Calmar Ratio Rank: 16
STCE Martin Ratio Rank: 14

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. STCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Global Systemically Important Banks ETF (GSIB) and Schwab Crypto Thematic ETF (STCE). 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	STCE	Difference
Sharpe ratio: Return per unit of total volatility	2.50	0.32	+2.18
Sortino ratio: Return per unit of downside risk	3.49	0.88	+2.60
Omega ratio: Gain probability vs. loss probability	1.41	1.10	+0.31
Calmar ratio: Return relative to maximum drawdown	3.16	0.37	+2.79
Martin ratio: Return relative to average drawdown	11.05	0.63	+10.43

GSIB vs. STCE - Sharpe Ratio Comparison

The current GSIB Sharpe Ratio is 2.50, which is higher than the STCE Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of GSIB and STCE, 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. STCE - Drawdown Comparison

The maximum GSIB drawdown since its inception was -17.71%, smaller than the maximum STCE drawdown of -54.11%. Use the drawdown chart below to compare losses from any high point for GSIB and STCE.

Drawdown Indicators

	GSIB	STCE	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-54.11%	+36.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	-54.11%	+40.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-54.11%	—
Current Drawdown Current decline from peak	-1.10%	-35.79%	+34.69%
Average Drawdown Average peak-to-trough decline	-2.01%	-22.33%	+20.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	32.18%	-28.22%

Volatility

GSIB vs. STCE - Volatility Comparison

The current volatility for Themes Global Systemically Important Banks ETF (GSIB) is 4.46%, while Schwab Crypto Thematic ETF (STCE) has a volatility of 15.40%. This indicates that GSIB experiences smaller price fluctuations and is considered to be less risky than STCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIB	STCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	15.40%	-10.94%
Volatility (6M) Calculated over the trailing 6-month period	14.61%	42.92%	-28.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	62.51%	-44.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	56.00%	-37.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	56.00%	-37.63%

GSIB vs. STCE - Expense Ratio Comparison

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

Dividends

GSIB vs. STCE - Dividend Comparison

GSIB's dividend yield for the trailing twelve months is around 1.60%, less than STCE's 1.66% yield.

Position	TTM	2025	2024	2023	2022
GSIB Themes Global Systemically Important Banks ETF	1.60%	1.91%	1.67%	0.00%	0.00%
STCE Schwab Crypto Thematic ETF	1.66%	1.96%	0.64%	0.31%	1.46%

Frequently Asked Questions

Can I hold both GSIB and STCE in my portfolio?

GSIB and STCE have a correlation of 0.44, 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 STCE?

STCE has higher volatility (15.40%) compared to GSIB (4.46%). In terms of maximum drawdown, GSIB dropped -17.71% vs STCE's -54.11%.

Which ETF is better, GSIB or STCE?

On 1-year performance, GSIB leads with 43.71% vs 20.08% for STCE. On fees, STCE is cheaper at 0.30% per year. On volatility, GSIB has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIB or STCE?

Over the 1-year period, GSIB has performed better with a 43.71% return vs 20.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIB or STCE?

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

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

STCE has the higher dividend yield at 1.66%, compared with 1.60% for GSIB.

What is the main difference between GSIB and STCE?

GSIB is categorized as Financials Equities, while STCE is Blockchain. They also come from different issuers: Themes and Charles Schwab. Their fees differ too: 0.35% for GSIB and 0.30% for STCE.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.50 vs 0.32), 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.