GSIE vs. LRGF

Last updated Jul 26, 2026

GSIE (Goldman Sachs ActiveBeta International Equity ETF) and LRGF (iShares MSCI USA Multifactor ETF) are both exchange-traded funds - GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index, while LRGF is a Large Cap Blend Equities fund tracking the MSCI USA Diversified Multi-Factor. Both are passively managed. Over the past 10 years, GSIE returned 9.39%/yr vs 13.48%/yr for LRGF. Their 0.76 correlation means they have sometimes moved together and sometimes differently. GSIE charges 0.25%/yr vs 0.20%/yr for LRGF.

Performance

GSIE vs. LRGF - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with GSIE having a 8.75% return and LRGF slightly higher at 8.94%. Over the past 10 years, GSIE has underperformed LRGF with an annualized return of 9.39%, while LRGF has yielded a comparatively higher 13.48% annualized return.

GSIE

• 1D: 0.46%
• 1M: 1.03%
• 6M: 5.39%
• YTD: 8.75%
• 1Y: 17.13%
• 3Y*: 15.96%
• 5Y*: 8.63%
• 10Y*: 9.39%
• ALL TIME*: 8.80%

LRGF

• 1D: 0.09%
• 1M: 1.20%
• 6M: 8.82%
• YTD: 8.94%
• 1Y: 15.34%
• 3Y*: 19.41%
• 5Y*: 13.20%
• 10Y*: 13.48%
• ALL TIME*: 12.23%

*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)
GSIE Goldman Sachs ActiveBeta International Equity ETF	$16.98M	$19.56M	$19.60M
LRGF iShares MSCI USA Multifactor ETF	$11.35M	$13.93M	$11.55M

GSIE vs. LRGF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIE Goldman Sachs ActiveBeta International Equity ETF	8.75%	32.53%	5.23%	16.99%	-15.86%	13.27%	7.45%	22.83%	-13.40%	26.22%
LRGF iShares MSCI USA Multifactor ETF	8.94%	16.48%	26.59%	25.85%	-14.77%	25.01%	11.11%	26.11%	-9.66%	21.13%

Correlation

The correlation between GSIE and LRGF is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Nov 10, 2015	0.76

The correlation between GSIE and LRGF has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

GSIE vs. LRGF - Sectors Allocation Comparison

Sectors	GSIE	LRGF
Financial Services	27.3%	11.7%
Industrials	18.6%	8.3%
Technology	10.6%	37.3%
Healthcare	9.6%	9.4%
Consumer Cyclical	8.6%	10.5%
Consumer Defensive	7.5%	4.9%
Basic Materials	5.4%	1.8%
Energy	4.2%	3.1%
Communication Services	3.8%	10.0%
Utilities	3.3%	2.0%
Real Estate	1.2%	1.1%

Return for Risk

GSIE vs. LRGF — Risk / Return Rank

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

GSIE

GSIE Risk / Return Rank: 48
GSIE Sharpe Ratio Rank: 49
GSIE Sortino Ratio Rank: 48
GSIE Omega Ratio Rank: 47
GSIE Calmar Ratio Rank: 45
GSIE Martin Ratio Rank: 52

LRGF

LRGF Risk / Return Rank: 52
LRGF Sharpe Ratio Rank: 52
LRGF Sortino Ratio Rank: 51
LRGF Omega Ratio Rank: 50
LRGF Calmar Ratio Rank: 51
LRGF Martin Ratio Rank: 59

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. LRGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta International Equity ETF (GSIE) and iShares MSCI USA Multifactor ETF (LRGF). 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.

	GSIE	LRGF	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.25	-0.08
Sortino ratio: Return per unit of downside risk	1.72	1.77	-0.05
Omega ratio: Gain probability vs. loss probability	1.21	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.58	1.78	-0.20
Martin ratio: Return relative to average drawdown	5.99	6.95	-0.96

GSIE vs. LRGF - Sharpe Ratio Comparison

The current GSIE Sharpe Ratio is 1.17, which is comparable to the LRGF Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of GSIE and LRGF, 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

GSIE vs. LRGF - Drawdown Comparison

The maximum GSIE drawdown since its inception was -34.63%, roughly equal to the maximum LRGF drawdown of -36.03%. Use the drawdown chart below to compare losses from any high point for GSIE and LRGF.

Drawdown Indicators

	GSIE	LRGF	Difference
Max Drawdown Largest peak-to-trough decline	-34.63%	-36.03%	+1.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-8.92%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-19.44%	+6.37%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-21.62%	-8.35%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-36.03%	+1.40%
Current Drawdown Current decline from peak	-1.06%	-2.11%	+1.05%
Average Drawdown Average peak-to-trough decline	-5.99%	-4.51%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.28%	+0.56%

Volatility

GSIE vs. LRGF - Volatility Comparison

Goldman Sachs ActiveBeta International Equity ETF (GSIE) has a higher volatility of 3.56% compared to iShares MSCI USA Multifactor ETF (LRGF) at 2.90%. This indicates that GSIE's price experiences larger fluctuations and is considered to be riskier than LRGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIE	LRGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	2.90%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	12.39%	9.83%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	14.49%	12.69%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.08%	17.07%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	18.28%	-1.79%

GSIE vs. LRGF - Expense Ratio Comparison

GSIE has a 0.25% expense ratio, which is higher than LRGF's 0.20% 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. LRGF - Dividend Comparison

GSIE's dividend yield for the trailing twelve months is around 2.56%, more than LRGF's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.56%	2.65%	3.11%	2.87%	3.01%	2.40%	1.60%	2.80%	2.68%	2.31%	2.15%	0.13%
LRGF iShares MSCI USA Multifactor ETF	1.09%	1.16%	1.23%	1.49%	1.78%	1.05%	1.35%	1.76%	3.27%	1.68%	1.56%	0.83%

Frequently Asked Questions

Can I hold both GSIE and LRGF in my portfolio?

GSIE and LRGF have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSIE or LRGF?

GSIE has higher volatility (3.56%) compared to LRGF (2.90%). In terms of maximum drawdown, GSIE dropped -34.63% vs LRGF's -36.03%.

Which ETF is better, GSIE or LRGF?

On 10-year performance, LRGF leads with 13.48% vs 9.39% for GSIE. On fees, LRGF is cheaper at 0.20% per year. On volatility, LRGF has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIE or LRGF?

Over the 10-year period, LRGF has performed better with a 13.48% return vs 9.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIE or LRGF?

LRGF is cheaper with a 0.20% expense ratio, compared with 0.25% for GSIE.

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

GSIE has the higher dividend yield at 2.56%, compared with 1.09% for LRGF.

What is the main difference between GSIE and LRGF?

GSIE is categorized as Foreign Large Cap Equities, while LRGF is Large Cap Blend Equities. GSIE tracks Goldman Sachs ActiveBeta International Equity Index, while LRGF tracks MSCI USA Diversified Multi-Factor. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSIE and 0.20% for LRGF.

Which has better risk-adjusted returns?

LRGF currently has the higher Sharpe Ratio (1.25 vs 1.17), 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.