GSWO vs. XEF.TO
GSWO (Goldman Sachs ActiveBeta World Equity ETF) and XEF.TO (iShares Core MSCI EAFE IMI Index ETF) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while XEF.TO is a Foreign Large Cap Equities fund tracking the MSCI EAFE Investable Market Index (CAD). Both are passively managed. Over the past 3 years, GSWO returned 17.89%/yr vs 16.98%/yr for XEF.TO. A 0.79 correlation means they provide meaningful diversification when combined. GSWO charges 0.25%/yr vs 0.23%/yr for XEF.TO.
Performance
GSWO vs. XEF.TO - Performance Comparison
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Different Trading Currencies
GSWO is traded in USD, while XEF.TO is traded in CAD. To make them comparable, the XEF.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GSWO achieves a 8.59% return, which is significantly lower than XEF.TO's 9.43% return.
GSWO
- 1D
- -2.69%
- 1M
- -0.16%
- YTD
- 8.59%
- 6M
- 9.20%
- 1Y
- 17.86%
- 3Y*
- 17.89%
- 5Y*
- —
- 10Y*
- —
XEF.TO
- 1D
- 0.73%
- 1M
- 0.15%
- YTD
- 9.43%
- 6M
- 11.63%
- 1Y
- 22.06%
- 3Y*
- 16.98%
- 5Y*
- 7.99%
- 10Y*
- 9.02%
GSWO vs. XEF.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 8.59% | 18.97% | 15.29% | 16.28% | -6.15% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 9.43% | 31.71% | 3.19% | 17.83% | -8.60% |
Correlation
The correlation between GSWO and XEF.TO is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022 | 0.79 |
The correlation between GSWO and XEF.TO has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
GSWO vs. XEF.TO — Risk / Return Rank
GSWO
XEF.TO
GSWO vs. XEF.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) and iShares Core MSCI EAFE IMI Index ETF (XEF.TO). 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 | XEF.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.27 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.89 | +0.12 |
| Martin ratioReturn relative to average drawdown | 9.58 | 7.20 | +2.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSWO | XEF.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.47 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.46 | +0.48 |
Drawdowns
GSWO vs. XEF.TO - Drawdown Comparison
The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum XEF.TO drawdown of -34.90%. Use the drawdown chart below to compare losses from any high point for GSWO and XEF.TO.
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Drawdown Indicators
| GSWO | XEF.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -34.90% | +17.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -11.58% | +2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -13.98% | +4.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.90% | — |
Current DrawdownCurrent decline from peak | -2.88% | -0.97% | -1.91% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -7.03% | +3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.87% | 3.03% | -1.16% |
Volatility
GSWO vs. XEF.TO - Volatility Comparison
The current volatility for Goldman Sachs ActiveBeta World Equity ETF (GSWO) is 3.92%, while iShares Core MSCI EAFE IMI Index ETF (XEF.TO) has a volatility of 4.88%. This indicates that GSWO experiences smaller price fluctuations and is considered to be less risky than XEF.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSWO | XEF.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 4.88% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 9.46% | 12.42% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.11% | 14.92% | -3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.02% | 16.53% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 17.51% | -4.49% |
GSWO vs. XEF.TO - Expense Ratio Comparison
GSWO has a 0.25% expense ratio, which is higher than XEF.TO's 0.23% 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
GSWO vs. XEF.TO - Dividend Comparison
GSWO's dividend yield for the trailing twelve months is around 1.65%, less than XEF.TO's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.65% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEF.TO iShares Core MSCI EAFE IMI Index ETF | 2.19% | 2.43% | 2.76% | 2.75% | 2.93% | 2.42% | 1.93% | 2.72% | 2.76% | 2.10% | 2.42% | 2.42% |
Frequently Asked Questions
GSWO and XEF.TO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEF.TO is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEF.TO is cheaper with a 0.23% expense ratio, compared with 0.25% for GSWO.
GSWO is categorized as Global Equities, while XEF.TO is Foreign Large Cap Equities. GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while XEF.TO tracks MSCI EAFE Investable Market Index (CAD). They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSWO and 0.23% for XEF.TO.
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