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IAK vs. GSIB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. GSIB

Last updated Jun 4, 2026

IAK (iShares U.S. Insurance ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both Financials Equities funds. IAK is passively managed, while GSIB is actively managed. Over the past year, IAK returned -4.16% vs 42.41% for GSIB. At a 0.38 correlation, their price movements are largely independent. IAK charges 0.43%/yr vs 0.35%/yr for GSIB.

Performance

IAK vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IAK achieves a -4.56% return, which is significantly lower than GSIB's 9.75% return.

IAK

1D
-0.88%
1M
-2.27%
YTD
-4.56%
6M
-1.81%
1Y
-4.16%
3Y*
16.73%
5Y*
11.50%
10Y*
11.66%

GSIB

1D
-1.07%
1M
5.66%
YTD
9.75%
6M
16.02%
1Y
42.41%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAK vs. GSIB - Yearly Performance Comparison

2026 (YTD)202520242023
IAK
iShares U.S. Insurance ETF		-4.56%9.50%28.25%2.01%
GSIB
Themes Global Systemically Important Banks ETF		9.75%61.67%32.86%2.35%

Correlation

The correlation between IAK and GSIB is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Dec 18, 2023

0.38

IAK vs. GSIB - Sectors Allocation Comparison

Sectors
IAK
GSIB

Financial Services

99.5%
100.0%

Healthcare

0.5%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IAK
99.5%
GSIB
100.0%

Healthcare

IAK
0.5%
GSIB

-

Basic Materials

IAK

-

GSIB

-

Communication Services

IAK

-

GSIB

-

Consumer Cyclical

IAK

-

GSIB

-

Consumer Defensive

IAK

-

GSIB

-

Energy

IAK

-

GSIB

-

Industrials

IAK

-

GSIB

-

Real Estate

IAK

-

GSIB

-

Technology

IAK

-

GSIB

-

Utilities

IAK

-

GSIB

-

Compare stocks, funds, or ETFs

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iShares U.S. Insurance ETF

Themes Global Systemically Important Banks ETF

Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. VTI
Often compared with GSIB:
GSIB vs. EUFNGSIB vs. ATMPGSIB vs. PCGGGSIB vs. FTXOGSIB vs. GDEGSIB vs. XLFGSIB vs. FNGS

Return for Risk

IAK vs. GSIB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAK
IAK Risk / Return Rank: 55
Overall Rank
IAK Sharpe Ratio Rank: 66
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 66
Sortino Ratio Rank
IAK Omega Ratio Rank: 55
Omega Ratio Rank
IAK Calmar Ratio Rank: 44
Calmar Ratio Rank
IAK Martin Ratio Rank: 33
Martin Ratio Rank
GSIB
GSIB Risk / Return Rank: 6868
Overall Rank
GSIB Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
GSIB Sortino Ratio Rank: 7575
Sortino Ratio Rank
GSIB Omega Ratio Rank: 6868
Omega Ratio Rank
GSIB Calmar Ratio Rank: 6161
Calmar Ratio Rank
GSIB Martin Ratio Rank: 6060
Martin Ratio Rank
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.

IAK vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Themes Global Systemically Important Banks ETF (GSIB). 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.

IAKGSIBDifference
Sharpe ratioReturn per unit of total volatility
-0.28
2.47

-2.76

Sortino ratioReturn per unit of downside risk
-0.29
3.43

-3.71

Omega ratioGain probability vs. loss probability

0.97

1.41

-0.45

Calmar ratioReturn relative to maximum drawdown

-0.55

3.07

-3.61

Martin ratioReturn relative to average drawdown

-1.14

10.80

-11.94

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAK vs. GSIB - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is -0.28, which is lower than the GSIB Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of IAK and GSIB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IAKGSIBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.28

2.47

-2.76

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

2.35

-2.09

Drawdowns

IAK vs. GSIB - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for IAK and GSIB.

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Drawdown Indicators

IAKGSIBDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-17.71%

-59.67%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-13.90%

+6.28%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

—

—

Current Drawdown

Current decline from peak

-5.82%

-1.07%

-4.75%

Average Drawdown

Average peak-to-trough decline

-16.13%

-2.06%

-14.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.96%

3.94%

+0.02%

Volatility

IAK vs. GSIB - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 3.82%, while Themes Global Systemically Important Banks ETF (GSIB) has a volatility of 5.26%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAKGSIBDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

5.26%

-1.44%

Volatility (6M)

Calculated over the trailing 6-month period

9.98%

13.97%

-3.99%

Volatility (1Y)

Calculated over the trailing 1-year period

14.77%

17.24%

-2.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.07%

18.45%

-0.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.89%

18.45%

+2.44%

IAK vs. GSIB - Expense Ratio Comparison

IAK has a 0.43% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

IAK vs. GSIB - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.76%, more than GSIB's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
GSIB
Themes Global Systemically Important Banks ETF		1.74%1.91%1.67%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IAK
iShares U.S. Insurance ETF		2.76%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%

Frequently Asked Questions

IAK and GSIB have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSIB has higher volatility (5.26%) compared to IAK (3.82%). In terms of maximum drawdown, IAK dropped -77.38% vs GSIB's -17.71%.

On 1-year performance, GSIB leads with 42.41% vs -4.16% for IAK. On fees, GSIB is cheaper at 0.35% per year. On volatility, IAK has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, GSIB has performed better with a 42.41% return vs -4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GSIB is cheaper with a 0.35% expense ratio, compared with 0.43% for IAK.

IAK has the higher dividend yield at 2.76%, compared with 1.74% for GSIB.

They also come from different issuers: iShares and Themes. Their fees differ too: 0.43% for IAK and 0.35% for GSIB.

GSIB currently has the higher Sharpe Ratio (2.47 vs -0.28), 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.

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