GSJY vs. GSIE

Last updated Aug 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 9.05%/yr vs 9.56%/yr for GSIE. Their 0.77 correlation means they have sometimes moved together and sometimes differently. 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 14.32% return, which is significantly higher than GSIE's 11.85% return. Over the past 10 years, GSJY has underperformed GSIE with an annualized return of 9.05%, while GSIE has yielded a comparatively higher 9.56% annualized return.

GSJY

• 1D: 0.04%
• 1M: 0.76%
• 6M: 7.61%
• YTD: 14.32%
• 1Y: 29.56%
• 3Y*: 17.96%
• 5Y*: 9.38%
• 10Y*: 9.05%
• ALL TIME*: 9.18%

GSIE

• 1D: 0.51%
• 1M: 2.83%
• 6M: 6.82%
• YTD: 11.85%
• 1Y: 24.74%
• 3Y*: 17.93%
• 5Y*: 8.99%
• 10Y*: 9.56%
• ALL TIME*: 9.06%

*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	$17.23M	$18.09M	$20.33M
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	$176.08K	$192.71K	$274.31K

GSJY vs. GSIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	14.32%	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	11.85%	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 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.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Mar 4, 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	23.3%	18.6%
Technology	23.3%	10.6%
Financial Services	18.8%	27.3%
Consumer Cyclical	12.0%	8.6%
Communication Services	5.9%	3.8%
Healthcare	4.6%	9.6%
Basic Materials	3.4%	5.4%
Consumer Defensive	3.1%	7.5%
Energy	3.0%	4.2%
Utilities	1.5%	3.3%
Real Estate	1.2%	1.2%

Return for Risk

GSJY vs. GSIE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSJY

GSJY Risk / Return Rank: 57
GSJY Sharpe Ratio Rank: 58
GSJY Sortino Ratio Rank: 57
GSJY Omega Ratio Rank: 60
GSJY Calmar Ratio Rank: 57
GSJY Martin Ratio Rank: 55

GSIE

GSIE Risk / Return Rank: 70
GSIE Sharpe Ratio Rank: 72
GSIE Sortino Ratio Rank: 72
GSIE Omega Ratio Rank: 70
GSIE Calmar Ratio Rank: 63
GSIE Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	GSJY	GSIE	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.71	-0.26
Sortino ratio: Return per unit of downside risk	2.06	2.43	-0.36
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	2.11	2.31	-0.20
Martin ratio: Return relative to average drawdown	6.76	8.85	-2.09

GSJY vs. GSIE - Sharpe Ratio Comparison

The current GSJY Sharpe Ratio is 1.45, which is comparable to the GSIE Sharpe Ratio of 1.71. 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.

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	-2.46%	-0.14%	-2.32%
Average Drawdown Average peak-to-trough decline	-7.52%	-5.98%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	2.80%	+1.59%

Volatility

GSJY vs. GSIE - Volatility Comparison

Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) has a higher volatility of 6.92% compared to Goldman Sachs ActiveBeta International Equity ETF (GSIE) at 4.03%. This indicates that GSJY's price experiences larger fluctuations and is considered to be riskier than GSIE based on this measure. 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	6.92%	4.03%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	17.21%	12.44%	+4.77%
Volatility (1Y) Calculated over the trailing 1-year period	20.50%	14.58%	+5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.41%	16.12%	+2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	16.51%	+0.65%

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 2.03%, less than GSIE's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.49%	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	2.03%	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?

GSJY has higher volatility (6.92%) compared to GSIE (4.03%). 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, GSIE leads with 9.56% vs 9.05% for GSJY. Both ETFs have the same 0.25% expense ratio. On volatility, GSIE has been the lower-risk option at 4.03%. 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, GSIE has performed better with a 9.56% return vs 9.05%. 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 2.49%, compared with 2.03% 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?

GSIE currently has the higher Sharpe Ratio (1.71 vs 1.45), 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.