IEMG vs. GSWO
IEMG (iShares Core MSCI Emerging Markets ETF) and GSWO (Goldman Sachs ActiveBeta World Equity ETF) are both exchange-traded funds - IEMG is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, IEMG returned 17.89%/yr vs 16.39%/yr for GSWO. Their 0.64 correlation means they have sometimes moved together and sometimes differently. IEMG charges 0.09%/yr vs 0.25%/yr for GSWO.
Performance
IEMG vs. GSWO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IEMG achieves a 15.55% return, which is significantly higher than GSWO's 9.77% return.
IEMG
- 1D
- -1.78%
- 1M
- -6.23%
- 6M
- 7.28%
- YTD
- 15.55%
- 1Y
- 28.48%
- 3Y*
- 17.89%
- 5Y*
- 6.77%
- 10Y*
- 8.78%
- ALL TIME*
- 6.06%
GSWO
- 1D
- 0.17%
- 1M
- 0.80%
- 6M
- 8.66%
- YTD
- 9.77%
- 1Y
- 15.09%
- 3Y*
- 16.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.06M | $3.14M | $3.93M | |
| $959.90M | $1.12B | $1.07B |
IEMG vs. GSWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 15.55% | 32.56% | 6.50% | 11.52% | -13.32% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 9.77% | 18.97% | 15.29% | 16.28% | -6.15% |
Correlation
The correlation between IEMG and GSWO is 0.70, 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. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.64 |
The correlation between IEMG and GSWO has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IEMG vs. GSWO — Risk / Return Rank
IEMG
GSWO
IEMG vs. GSWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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.
| IEMG | GSWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 1.72 | +0.42 |
| Martin ratioReturn relative to average drawdown | 6.72 | 7.82 | -1.10 |
Loading charts...
Drawdowns
IEMG vs. GSWO - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, which is greater than GSWO's maximum drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for IEMG and GSWO.
Loading charts...
Drawdown Indicators
| IEMG | GSWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -17.77% | -20.94% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -8.93% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -9.97% | -7.24% |
Max Drawdown (5Y)Largest decline over 5 years | -33.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | — | — |
Current DrawdownCurrent decline from peak | -10.41% | -1.97% | -8.44% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -3.19% | -9.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 1.95% | +2.24% |
Volatility
IEMG vs. GSWO - Volatility Comparison
iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 7.86% compared to Goldman Sachs ActiveBeta World Equity ETF (GSWO) at 3.09%. This indicates that IEMG's price experiences larger fluctuations and is considered to be riskier than GSWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEMG | GSWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 3.09% | +4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 21.27% | 10.30% | +10.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.23% | 11.66% | +11.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.21% | 13.02% | +6.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.26% | 13.02% | +7.24% |
IEMG vs. GSWO - Expense Ratio Comparison
IEMG has a 0.09% expense ratio, which is lower than GSWO's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEMG vs. GSWO - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.33%, more than GSWO's 1.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.55% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.33% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
IEMG and GSWO have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEMG has higher volatility (7.86%) compared to GSWO (3.09%). In terms of maximum drawdown, IEMG dropped -38.71% vs GSWO's -17.77%.
On 3-year performance, IEMG leads with 17.89% vs 16.39% for GSWO. On fees, IEMG is cheaper at 0.09% per year. On volatility, GSWO has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEMG has performed better with a 17.89% return vs 16.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEMG is cheaper with a 0.09% expense ratio, compared with 0.25% for GSWO.
IEMG has the higher dividend yield at 2.33%, compared with 1.55% for GSWO.
IEMG is categorized as Emerging Markets Equities, while GSWO is Global Equities. IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.09% for IEMG and 0.25% for GSWO.
GSWO currently has the higher Sharpe Ratio (1.31 vs 1.21), 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.
Find the right allocation for IEMG and GSWO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer