GSWO vs. PID

Last updated Jun 4, 2026

GSWO (Goldman Sachs ActiveBeta World Equity ETF) and PID (Invesco International Dividend Achievers™ ETF) are both Global Equities funds - GSWO tracks the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net while PID tracks the Nasdaq International Dividend Achievers (NR). Both are passively managed. Over the past 3 years, GSWO returned 18.70%/yr vs 12.52%/yr for PID. A 0.78 correlation means they provide meaningful diversification when combined. GSWO charges 0.25%/yr vs 0.56%/yr for PID.

Performance

GSWO vs. PID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta World Equity ETF (GSWO) and Invesco International Dividend Achievers™ ETF (PID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSWO achieves a 11.00% return, which is significantly higher than PID's 5.45% return.

GSWO

• 1D: -0.71%
• 1M: 4.81%
• YTD: 11.00%
• 6M: 11.56%
• 1Y: 20.17%
• 3Y*: 18.70%
• 5Y*: —
• 10Y*: —

PID

• 1D: -1.07%
• 1M: 1.28%
• YTD: 5.45%
• 6M: 6.61%
• 1Y: 16.04%
• 3Y*: 12.52%
• 5Y*: 8.28%
• 10Y*: 8.80%

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

GSWO vs. PID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GSWO Goldman Sachs ActiveBeta World Equity ETF	11.00%	18.97%	15.29%	16.28%	-6.15%
PID Invesco International Dividend Achievers™ ETF	5.45%	24.45%	3.08%	14.28%	-10.92%

Correlation

The correlation between GSWO and PID is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.78

The correlation between GSWO and PID shifts across timeframes, from 0.67 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GSWO vs. PID — Risk / Return Rank

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

GSWO

GSWO Risk / Return Rank: 56
GSWO Sharpe Ratio Rank: 55
GSWO Sortino Ratio Rank: 59
GSWO Omega Ratio Rank: 56
GSWO Calmar Ratio Rank: 46
GSWO Martin Ratio Rank: 61

PID

PID Risk / Return Rank: 46
PID Sharpe Ratio Rank: 47
PID Sortino Ratio Rank: 50
PID Omega Ratio Rank: 47
PID Calmar Ratio Rank: 43
PID Martin Ratio Rank: 44

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.

GSWO vs. PID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) and Invesco International Dividend Achievers™ ETF (PID). 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.

	GSWO	PID	Difference
Sharpe ratio Return per unit of total volatility	1.88	1.66	+0.22
Sortino ratio Return per unit of downside risk	2.77	2.46	+0.31
Omega ratio Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio Return relative to maximum drawdown	2.27	2.16	+0.11
Martin ratio Return relative to average drawdown	10.87	7.36	+3.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSWO vs. PID - Sharpe Ratio Comparison

The current GSWO Sharpe Ratio is 1.88, which is comparable to the PID Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of GSWO and PID, 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

	GSWO	PID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.66	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.27	+0.72

Drawdowns

GSWO vs. PID - Drawdown Comparison

The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum PID drawdown of -66.34%. Use the drawdown chart below to compare losses from any high point for GSWO and PID.

Drawdown Indicators

	GSWO	PID	Difference
Max Drawdown Largest peak-to-trough decline	-17.77%	-66.34%	+48.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-7.47%	-1.46%
Max Drawdown (3Y) Largest decline over 3 years	-9.97%	-13.34%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.07%	—
Current Drawdown Current decline from peak	-0.71%	-2.19%	+1.48%
Average Drawdown Average peak-to-trough decline	-3.25%	-13.04%	+9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.18%	-0.32%

Volatility

GSWO vs. PID - Volatility Comparison

Goldman Sachs ActiveBeta World Equity ETF (GSWO) has a higher volatility of 3.22% compared to Invesco International Dividend Achievers™ ETF (PID) at 2.75%. This indicates that GSWO's price experiences larger fluctuations and is considered to be riskier than PID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSWO	PID	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	2.75%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	9.02%	7.62%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	9.70%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.96%	13.97%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.96%	17.84%	-4.88%

GSWO vs. PID - Expense Ratio Comparison

GSWO has a 0.25% expense ratio, which is lower than PID's 0.56% expense ratio.

Dividends

GSWO vs. PID - Dividend Comparison

GSWO's dividend yield for the trailing twelve months is around 1.61%, less than PID's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSWO Goldman Sachs ActiveBeta World Equity ETF	1.61%	1.74%	1.75%	2.06%	1.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PID Invesco International Dividend Achievers™ ETF	3.27%	3.28%	3.88%	3.31%	3.30%	3.30%	3.16%	3.99%	3.87%	3.46%	3.90%	4.48%

Frequently Asked Questions

Can I hold both GSWO and PID in my portfolio?

GSWO and PID have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSWO or PID?

GSWO has higher volatility (3.22%) compared to PID (2.75%). In terms of maximum drawdown, GSWO dropped -17.77% vs PID's -66.34%.

Which ETF is better, GSWO or PID?

On 3-year performance, GSWO leads with 18.70% vs 12.52% for PID. On fees, GSWO is cheaper at 0.25% per year. On volatility, PID has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSWO or PID?

Over the 3-year period, GSWO has performed better with a 18.70% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSWO or PID?

GSWO is cheaper with a 0.25% expense ratio, compared with 0.56% for PID.

Which ETF pays a higher dividend yield, GSWO or PID?

PID has the higher dividend yield at 3.27%, compared with 1.61% for GSWO.

What is the main difference between GSWO and PID?

GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while PID tracks Nasdaq International Dividend Achievers (NR). They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.25% for GSWO and 0.56% for PID.

Which has better risk-adjusted returns?

GSWO currently has the higher Sharpe Ratio (1.88 vs 1.66), 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.