GSJY vs. NBJP

Last updated Jun 4, 2026

GSJY (Goldman Sachs ActiveBeta Japan Equity ETF) and NBJP (Neuberger Berman Japan Equity ETF) are both Japan Equities funds. GSJY is passively managed, while NBJP is actively managed. Over the past year, GSJY returned 29.76% vs 35.11% for NBJP. Their correlation of 0.92 suggests significant overlap in exposure. GSJY charges 0.25%/yr vs 0.50%/yr for NBJP.

Performance

GSJY vs. NBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and Neuberger Berman Japan Equity ETF (NBJP). 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 lower than NBJP's 18.88% return.

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%

NBJP

• 1D: 0.32%
• 1M: 7.23%
• YTD: 18.88%
• 6M: 21.26%
• 1Y: 35.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSJY vs. NBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	13.29%	26.22%	-2.18%
NBJP Neuberger Berman Japan Equity ETF	18.88%	30.41%	-3.34%

Correlation

The correlation between GSJY and NBJP is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024	0.92

The correlation between GSJY and NBJP has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

GSJY vs. NBJP — 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

NBJP

NBJP Risk / Return Rank: 52
NBJP Sharpe Ratio Rank: 53
NBJP Sortino Ratio Rank: 53
NBJP Omega Ratio Rank: 53
NBJP Calmar Ratio Rank: 51
NBJP Martin Ratio Rank: 52

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. NBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and Neuberger Berman Japan Equity ETF (NBJP). 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	NBJP	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.79	-0.25
Sortino ratio: Return per unit of downside risk	2.24	2.55	-0.31
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.12	2.46	-0.34
Martin ratio: Return relative to average drawdown	7.09	8.84	-1.75
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. NBJP - Sharpe Ratio Comparison

The current GSJY Sharpe Ratio is 1.54, which is comparable to the NBJP Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of GSJY and NBJP, 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	NBJP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.79	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.37	-0.82

Drawdowns

GSJY vs. NBJP - Drawdown Comparison

The maximum GSJY drawdown since its inception was -32.53%, which is greater than NBJP's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for GSJY and NBJP.

Drawdown Indicators

	GSJY	NBJP	Difference
Max Drawdown Largest peak-to-trough decline	-32.53%	-14.34%	-18.19%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-14.34%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.53%	—	—
Current Drawdown Current decline from peak	-2.62%	-0.79%	-1.83%
Average Drawdown Average peak-to-trough decline	-7.58%	-3.22%	-4.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	3.98%	+0.23%

Volatility

GSJY vs. NBJP - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) is 4.21%, while Neuberger Berman Japan Equity ETF (NBJP) has a volatility of 5.49%. This indicates that GSJY experiences smaller price fluctuations and is considered to be less risky than NBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSJY	NBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	5.49%	-1.28%
Volatility (6M) Calculated over the trailing 6-month period	15.17%	16.51%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	19.76%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	19.55%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	19.55%	-2.51%

GSJY vs. NBJP - Expense Ratio Comparison

GSJY has a 0.25% expense ratio, which is lower than NBJP's 0.50% expense ratio.

Dividends

GSJY vs. NBJP - Dividend Comparison

GSJY's dividend yield for the trailing twelve months is around 1.75%, less than NBJP's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
NBJP Neuberger Berman Japan Equity ETF	1.92%	2.29%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSJY and NBJP in my portfolio?

With a correlation of 0.90, GSJY and NBJP 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, GSJY or NBJP?

NBJP has higher volatility (5.49%) compared to GSJY (4.21%). In terms of maximum drawdown, GSJY dropped -32.53% vs NBJP's -14.34%.

Which ETF is better, GSJY or NBJP?

On 1-year performance, NBJP leads with 35.11% vs 29.76% for GSJY. On fees, GSJY is cheaper at 0.25% per year. 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 NBJP?

Over the 1-year period, NBJP has performed better with a 35.11% return vs 29.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSJY or NBJP?

GSJY is cheaper with a 0.25% expense ratio, compared with 0.50% for NBJP.

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

NBJP has the higher dividend yield at 1.92%, compared with 1.75% for GSJY.

What is the main difference between GSJY and NBJP?

They also come from different issuers: Goldman Sachs and Neuberger Berman. Their fees differ too: 0.25% for GSJY and 0.50% for NBJP.

Which has better risk-adjusted returns?

NBJP currently has the higher Sharpe Ratio (1.79 vs 1.54), 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.