IAT vs. GSIB
IAT (iShares U.S. Regional Banks ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both Financials Equities funds. IAT is passively managed, while GSIB is actively managed. Over the past year, IAT returned 34.96% vs 49.59% for GSIB. Their 0.62 correlation means they have sometimes moved together and sometimes differently. IAT charges 0.42%/yr vs 0.35%/yr for GSIB.
Performance
IAT vs. GSIB - Performance Comparison
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Returns By Period
In the year-to-date period, IAT achieves a 17.93% return, which is significantly lower than GSIB's 23.08% return.
IAT
- 1D
- 1.19%
- 1M
- 2.49%
- 6M
- 9.97%
- YTD
- 17.93%
- 1Y
- 34.96%
- 3Y*
- 22.54%
- 5Y*
- 6.16%
- 10Y*
- 9.38%
- ALL TIME*
- 3.84%
GSIB
- 1D
- 0.34%
- 1M
- 6.91%
- 6M
- 16.90%
- YTD
- 23.08%
- 1Y
- 49.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 45.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.86M | $1.42M | $773.56K | |
| $7.95M | $9.88M | $9.64M |
IAT vs. GSIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 17.93% | 13.05% | 24.36% | -2.04% |
GSIB Themes Global Systemically Important Banks ETF | 23.08% | 61.67% | 32.86% | 1.75% |
Correlation
The correlation between IAT and GSIB is 0.56, 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. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | 0.62 |
The correlation between IAT and GSIB has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.
IAT vs. GSIB - Sectors Allocation Comparison
Sectors
IAT
GSIB
Financial Services
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
Utilities
-
-
Financial Services
IAT
GSIB
Basic Materials
IAT
-
GSIB
-
Communication Services
IAT
-
GSIB
-
Consumer Cyclical
IAT
-
GSIB
-
Consumer Defensive
IAT
-
GSIB
-
Energy
IAT
-
GSIB
-
Healthcare
IAT
-
GSIB
-
Industrials
IAT
-
GSIB
-
Real Estate
IAT
-
GSIB
-
Technology
IAT
-
GSIB
Utilities
IAT
-
GSIB
-
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Return for Risk
IAT vs. GSIB — Risk / Return Rank
IAT
GSIB
IAT vs. GSIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) 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.
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.
| IAT | GSIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.46 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.58 | -1.58 |
| Martin ratioReturn relative to average drawdown | 5.18 | 12.59 | -7.41 |
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Drawdowns
IAT vs. GSIB - Drawdown Comparison
The maximum IAT drawdown since its inception was -77.22%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for IAT and GSIB.
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Drawdown Indicators
| IAT | GSIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.22% | -17.71% | -59.51% |
Max Drawdown (1Y)Largest decline over 1 year | -17.49% | -13.90% | -3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -55.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.55% | — | — |
Current DrawdownCurrent decline from peak | -1.37% | 0.00% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -26.77% | -1.99% | -24.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.77% | 3.95% | +2.82% |
Volatility
IAT vs. GSIB - Volatility Comparison
iShares U.S. Regional Banks ETF (IAT) and Themes Global Systemically Important Banks ETF (GSIB) have volatilities of 5.50% and 5.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAT | GSIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 5.73% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.05% | 14.90% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.84% | 17.83% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.76% | 18.45% | +10.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.68% | 18.45% | +12.23% |
IAT vs. GSIB - Expense Ratio Comparison
IAT has a 0.42% expense ratio, which is higher than GSIB's 0.35% expense ratio.
Dividends
IAT vs. GSIB - Dividend Comparison
IAT's dividend yield for the trailing twelve months is around 2.51%, more than GSIB's 1.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSIB Themes Global Systemically Important Banks ETF | 1.55% | 1.91% | 1.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IAT iShares U.S. Regional Banks ETF | 2.51% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
Frequently Asked Questions
IAT and GSIB have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSIB has higher volatility (5.73%) compared to IAT (5.50%). In terms of maximum drawdown, IAT dropped -77.22% vs GSIB's -17.71%.
On 1-year performance, GSIB leads with 49.59% vs 34.96% for IAT. On fees, GSIB is cheaper at 0.35% per year. On volatility, IAT has been the lower-risk option at 5.50%. 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 49.59% return vs 34.96%. 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 0.42% for IAT.
IAT has the higher dividend yield at 2.51%, compared with 1.55% for GSIB.
They also come from different issuers: iShares and Themes. Their fees differ too: 0.42% for IAT and 0.35% for GSIB.
GSIB currently has the higher Sharpe Ratio (2.80 vs 1.61), 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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