GSJY vs. GSIE

Last updated Jun 4, 2026

GSJY (Goldman Sachs ActiveBeta Japan Equity ETF) and GSIE (Goldman Sachs ActiveBeta International Equity ETF) are both exchange-traded funds - GSJY is a Japan Equities fund tracking the Goldman Sachs ActiveBeta Japan Equity Index, while GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index. Both are passively managed. Over the past 10 years, GSJY returned 9.28%/yr vs 9.08%/yr for GSIE. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

GSJY vs. GSIE - Performance Comparison

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

Returns By Period

In the year-to-date period, GSJY achieves a 13.29% return, which is significantly higher than GSIE's 6.51% return. Both investments have delivered pretty close results over the past 10 years, with GSJY having a 9.28% annualized return and GSIE not far behind at 9.08%.

GSJY

• 1D: 0.75%
• 1M: 4.99%
• YTD: 13.29%
• 6M: 15.13%
• 1Y: 29.76%
• 3Y*: 18.00%
• 5Y*: 8.80%
• 10Y*: 9.28%

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%

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

GSJY vs. GSIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	13.29%	26.22%	8.89%	19.18%	-16.15%	0.41%	13.81%	18.29%	-11.56%	25.50%
GSIE Goldman Sachs ActiveBeta International Equity ETF	6.51%	32.53%	5.23%	16.99%	-15.86%	13.27%	7.45%	22.83%	-13.40%	26.22%

Correlation

The correlation between GSJY and GSIE is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Mar 7, 2016	0.77

The correlation between GSJY and GSIE has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

GSJY vs. GSIE - Sectors Allocation Comparison

Sectors	GSJY	GSIE
Industrials	26.3%	18.0%
Financial Services	18.1%	27.1%
Technology	17.5%	9.5%
Consumer Cyclical	13.4%	9.1%
Communication Services	6.0%	3.8%
Healthcare	5.8%	9.1%
Energy	3.4%	4.4%
Basic Materials	3.4%	5.8%
Consumer Defensive	3.3%	7.2%
Real Estate	1.5%	1.2%
Utilities	1.4%	3.2%

Return for Risk

GSJY vs. GSIE — Risk / Return Rank

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

GSJY

GSJY Risk / Return Rank: 44
GSJY Sharpe Ratio Rank: 43
GSJY Sortino Ratio Rank: 44
GSJY Omega Ratio Rank: 45
GSJY Calmar Ratio Rank: 43
GSJY Martin Ratio Rank: 44

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

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.

GSJY vs. GSIE - Risk-Adjusted Trends Comparison

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

	GSJY	GSIE	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.38	+0.16
Sortino ratio Return per unit of downside risk	2.24	1.99	+0.25
Omega ratio Gain probability vs. loss probability	1.29	1.25	+0.04
Calmar ratio Return relative to maximum drawdown	2.12	1.81	+0.32
Martin ratio Return relative to average drawdown	7.09	6.87	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSJY vs. GSIE - Sharpe Ratio Comparison

The current GSJY Sharpe Ratio is 1.54, which is comparable to the GSIE Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of GSJY and GSIE, 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

	GSJY	GSIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.38	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.50	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.54	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.52	+0.03

Drawdowns

GSJY vs. GSIE - Drawdown Comparison

The maximum GSJY drawdown since its inception was -32.53%, smaller than the maximum GSIE drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for GSJY and GSIE.

Drawdown Indicators

	GSJY	GSIE	Difference
Max Drawdown Largest peak-to-trough decline	-32.53%	-34.63%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-10.76%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	-13.07%	-1.89%
Max Drawdown (5Y) Largest decline over 5 years	-32.53%	-29.97%	-2.56%
Max Drawdown (10Y) Largest decline over 10 years	-32.53%	-34.63%	+2.10%
Current Drawdown Current decline from peak	-2.62%	-2.19%	-0.43%
Average Drawdown Average peak-to-trough decline	-7.58%	-6.06%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	2.82%	+1.39%

Volatility

GSJY vs. GSIE - Volatility Comparison

Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and Goldman Sachs ActiveBeta International Equity ETF (GSIE) have volatilities of 4.21% and 4.38%, 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

	GSJY	GSIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	4.38%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	15.17%	11.60%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	14.15%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	16.04%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	16.75%	+0.29%

GSJY vs. GSIE - Expense Ratio Comparison

Both GSJY and GSIE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

GSJY vs. GSIE - Dividend Comparison

GSJY's dividend yield for the trailing twelve months is around 1.75%, less than GSIE's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	1.75%	1.99%	1.64%	2.11%	2.13%	1.73%	1.22%	2.79%	3.28%	1.70%	2.09%	0.00%

Frequently Asked Questions

Can I hold both GSJY and GSIE in my portfolio?

GSJY and GSIE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSJY or GSIE?

GSIE has higher volatility (4.38%) compared to GSJY (4.21%). In terms of maximum drawdown, GSJY dropped -32.53% vs GSIE's -34.63%.

Which ETF is better, GSJY or GSIE?

On 10-year performance, GSJY leads with 9.28% vs 9.08% for GSIE. Both ETFs have the same 0.25% expense ratio. On volatility, GSJY has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSJY or GSIE?

Over the 10-year period, GSJY has performed better with a 9.28% return vs 9.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSJY or GSIE?

GSJY and GSIE have the same expense ratio: 0.25% per year.

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

GSIE has the higher dividend yield at 2.52%, compared with 1.75% for GSJY.

What is the main difference between GSJY and GSIE?

GSJY is categorized as Japan Equities, while GSIE is Foreign Large Cap Equities. GSJY tracks Goldman Sachs ActiveBeta Japan Equity Index, while GSIE tracks Goldman Sachs ActiveBeta International Equity Index.

Which has better risk-adjusted returns?

GSJY currently has the higher Sharpe Ratio (1.54 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.