GSIE vs. VOO

Last updated Jun 23, 2026

GSIE (Goldman Sachs ActiveBeta International Equity ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, GSIE returned 9.97%/yr vs 15.77%/yr for VOO. A 0.78 correlation means they provide meaningful diversification when combined. GSIE charges 0.25%/yr vs 0.03%/yr for VOO.

Performance

GSIE vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta International Equity ETF (GSIE) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSIE achieves a 8.35% return, which is significantly lower than VOO's 9.75% return. Over the past 10 years, GSIE has underperformed VOO with an annualized return of 9.97%, while VOO has yielded a comparatively higher 15.77% annualized return.

GSIE

• 1D: 0.11%
• 1M: 1.62%
• YTD: 8.35%
• 6M: 8.45%
• 1Y: 22.79%
• 3Y*: 17.50%
• 5Y*: 8.72%
• 10Y*: 9.97%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

GSIE vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSIE Goldman Sachs ActiveBeta International Equity ETF	8.35%	32.53%	5.23%	16.99%	-15.86%	13.27%	7.45%	22.83%	-13.40%	26.22%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between GSIE and VOO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 10, 2015	0.78

The correlation between GSIE and VOO has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

GSIE vs. VOO - Sectors Allocation Comparison

Sectors	GSIE	VOO
Financial Services	26.4%	10.9%
Industrials	18.9%	7.6%
Technology	9.9%	39.1%
Healthcare	9.3%	8.3%
Consumer Cyclical	8.7%	9.8%
Consumer Defensive	7.5%	4.5%
Basic Materials	6.2%	1.7%
Energy	4.6%	3.2%
Communication Services	4.1%	10.5%
Utilities	3.3%	2.5%
Real Estate	1.2%	1.8%

Return for Risk

GSIE vs. VOO — Risk / Return Rank

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

GSIE

GSIE Risk / Return Rank: 46
GSIE Sharpe Ratio Rank: 47
GSIE Sortino Ratio Rank: 47
GSIE Omega Ratio Rank: 45
GSIE Calmar Ratio Rank: 44
GSIE Martin Ratio Rank: 49

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta International Equity ETF (GSIE) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.17	-0.59
Sortino ratio: Return per unit of downside risk	2.26	2.93	-0.67
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.13	3.02	-0.89
Martin ratio: Return relative to average drawdown	8.03	13.58	-5.55

GSIE vs. VOO - Sharpe Ratio Comparison

The current GSIE Sharpe Ratio is 1.58, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of GSIE and VOO, 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. VOO - Drawdown Comparison

The maximum GSIE drawdown since its inception was -34.63%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GSIE and VOO.

Drawdown Indicators

	GSIE	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-34.63%	-33.99%	-0.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-8.90%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-18.69%	+5.62%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-24.52%	-5.45%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-33.99%	-0.64%
Current Drawdown Current decline from peak	-0.50%	-1.74%	+1.24%
Average Drawdown Average peak-to-trough decline	-6.04%	-3.68%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	1.98%	+0.86%

Volatility

GSIE vs. VOO - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta International Equity ETF (GSIE) is 4.31%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.60%. This indicates that GSIE experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSIE	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.60%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	9.73%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	14.49%	12.39%	+2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	16.90%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	18.05%	-1.33%

GSIE vs. VOO - Expense Ratio Comparison

GSIE has a 0.25% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

GSIE's dividend yield for the trailing twelve months is around 2.48%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.48%	2.65%	3.11%	2.87%	3.01%	2.40%	1.60%	2.80%	2.68%	2.31%	2.15%	0.13%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both GSIE and VOO in my portfolio?

GSIE and VOO 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 VOO?

VOO has higher volatility (4.60%) compared to GSIE (4.31%). In terms of maximum drawdown, GSIE dropped -34.63% vs VOO's -33.99%.

Which ETF is better, GSIE or VOO?

On 10-year performance, VOO leads with 15.77% vs 9.97% for GSIE. On fees, VOO is cheaper at 0.03% per year. On volatility, GSIE has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSIE or VOO?

Over the 10-year period, VOO has performed better with a 15.77% return vs 9.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSIE or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.25% for GSIE.

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

GSIE has the higher dividend yield at 2.48%, compared with 1.04% for VOO.

What is the main difference between GSIE and VOO?

GSIE is categorized as Foreign Large Cap Equities, while VOO is S&P 500. GSIE tracks Goldman Sachs ActiveBeta International Equity Index, while VOO tracks S&P 500 Index. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.25% for GSIE and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 1.58), 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.