GSIE vs. BKIE

Last updated Jun 4, 2026

GSIE (Goldman Sachs ActiveBeta International Equity ETF) and BKIE (BNY Mellon International Equity ETF) are both Foreign Large Cap Equities funds - GSIE tracks the Goldman Sachs ActiveBeta International Equity Index while BKIE tracks the Morningstar Developed Markets ex-US Large Cap Index. Both are passively managed. Over the past 5 years, GSIE returned 8.04%/yr vs 9.05%/yr for BKIE. With a 0.98 correlation, they move nearly in lockstep. GSIE charges 0.25%/yr vs 0.04%/yr for BKIE.

Performance

GSIE vs. BKIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta International Equity ETF (GSIE) and BNY Mellon International Equity ETF (BKIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIE achieves a 6.51% return, which is significantly lower than BKIE's 8.46% return.

GSIE

• 1D: -0.83%
• 1M: 2.22%
• YTD: 6.51%
• 6M: 9.50%
• 1Y: 19.35%
• 3Y*: 16.74%
• 5Y*: 8.04%
• 10Y*: 9.08%

BKIE

• 1D: -0.89%
• 1M: 3.12%
• YTD: 8.46%
• 6M: 11.11%
• 1Y: 22.58%
• 3Y*: 17.39%
• 5Y*: 9.05%
• 10Y*: —

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

GSIE vs. BKIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSIE Goldman Sachs ActiveBeta International Equity ETF	6.51%	32.53%	5.23%	16.99%	-15.86%	13.27%	34.65%
BKIE BNY Mellon International Equity ETF	8.46%	32.08%	4.63%	18.25%	-13.60%	13.75%	34.17%

Correlation

The correlation between GSIE and BKIE is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.98

The correlation between GSIE and BKIE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

GSIE vs. BKIE - Sectors Allocation Comparison

Sectors	GSIE	BKIE
Financial Services	27.1%	25.8%
Industrials	18.0%	18.6%
Technology	9.5%	10.1%
Healthcare	9.1%	9.1%
Consumer Cyclical	9.1%	7.3%
Consumer Defensive	7.2%	6.2%
Basic Materials	5.8%	7.2%
Energy	4.4%	5.9%
Communication Services	3.8%	4.2%
Utilities	3.2%	3.7%
Real Estate	1.2%	2.0%

Return for Risk

GSIE vs. BKIE — Risk / Return Rank

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

GSIE

GSIE Risk / Return Rank: 38
GSIE Sharpe Ratio Rank: 38
GSIE Sortino Ratio Rank: 38
GSIE Omega Ratio Rank: 37
GSIE Calmar Ratio Rank: 36
GSIE Martin Ratio Rank: 42

BKIE

BKIE Risk / Return Rank: 43
BKIE Sharpe Ratio Rank: 43
BKIE Sortino Ratio Rank: 43
BKIE Omega Ratio Rank: 43
BKIE Calmar Ratio Rank: 39
BKIE Martin Ratio Rank: 46

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.

GSIE vs. BKIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta International Equity ETF (GSIE) and BNY Mellon International Equity ETF (BKIE). 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.

	GSIE	BKIE	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.56	-0.18
Sortino ratio: Return per unit of downside risk	1.99	2.23	-0.24
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.81	1.99	-0.18
Martin ratio: Return relative to average drawdown	6.87	7.68	-0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSIE vs. BKIE - Sharpe Ratio Comparison

The current GSIE Sharpe Ratio is 1.38, which is comparable to the BKIE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of GSIE and BKIE, 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

	GSIE	BKIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.56	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.56	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.92	-0.40

Drawdowns

GSIE vs. BKIE - Drawdown Comparison

The maximum GSIE drawdown since its inception was -34.63%, which is greater than BKIE's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for GSIE and BKIE.

Drawdown Indicators

	GSIE	BKIE	Difference
Max Drawdown Largest peak-to-trough decline	-34.63%	-28.19%	-6.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-11.41%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-13.19%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-28.19%	-1.78%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	—	—
Current Drawdown Current decline from peak	-2.19%	-1.33%	-0.86%
Average Drawdown Average peak-to-trough decline	-6.06%	-4.98%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.95%	-0.13%

Volatility

GSIE vs. BKIE - Volatility Comparison

Goldman Sachs ActiveBeta International Equity ETF (GSIE) and BNY Mellon International Equity ETF (BKIE) have volatilities of 4.38% and 4.42%, 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

	GSIE	BKIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	4.42%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	12.17%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	14.58%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	16.12%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	16.34%	+0.41%

GSIE vs. BKIE - Expense Ratio Comparison

GSIE has a 0.25% expense ratio, which is higher than BKIE's 0.04% 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

GSIE vs. BKIE - Dividend Comparison

GSIE's dividend yield for the trailing twelve months is around 2.52%, less than BKIE's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKIE BNY Mellon International Equity ETF	3.26%	3.12%	3.31%	2.88%	2.97%	2.58%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.52%	2.65%	3.11%	2.87%	3.01%	2.40%	1.60%	2.80%	2.68%	2.31%	2.15%	0.13%

Frequently Asked Questions

Can I hold both GSIE and BKIE in my portfolio?

With a correlation of 0.97, GSIE and BKIE 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, GSIE or BKIE?

BKIE has higher volatility (4.42%) compared to GSIE (4.38%). In terms of maximum drawdown, GSIE dropped -34.63% vs BKIE's -28.19%.

Which ETF is better, GSIE or BKIE?

On 5-year performance, BKIE leads with 9.05% vs 8.04% for GSIE. On fees, BKIE is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIE or BKIE?

Over the 5-year period, BKIE has performed better with a 9.05% return vs 8.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIE or BKIE?

BKIE is cheaper with a 0.04% expense ratio, compared with 0.25% for GSIE.

Which ETF pays a higher dividend yield, GSIE or BKIE?

BKIE has the higher dividend yield at 3.26%, compared with 2.52% for GSIE.

What is the main difference between GSIE and BKIE?

GSIE tracks Goldman Sachs ActiveBeta International Equity Index, while BKIE tracks Morningstar Developed Markets ex-US Large Cap Index. They also come from different issuers: Goldman Sachs and BNY Mellon. Their fees differ too: 0.25% for GSIE and 0.04% for BKIE.

Which has better risk-adjusted returns?

BKIE currently has the higher Sharpe Ratio (1.56 vs 1.38), 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.