IVLU vs. GSIB

Last updated Jun 13, 2026

IVLU (iShares MSCI International Value Factor ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - IVLU is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Enhanced Value Index, while GSIB is a Financials Equities fund actively managed by Themes. IVLU is passively managed, while GSIB is actively managed. Over the past year, IVLU returned 35.32% vs 47.83% for GSIB. A 0.79 correlation means they provide meaningful diversification when combined. IVLU charges 0.30%/yr vs 0.35%/yr for GSIB.

Performance

IVLU vs. GSIB - Performance Comparison

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

Returns By Period

In the year-to-date period, IVLU achieves a 12.96% return, which is significantly lower than GSIB's 13.98% return.

IVLU

• 1D: 0.56%
• 1M: 0.66%
• YTD: 12.96%
• 6M: 14.33%
• 1Y: 35.32%
• 3Y*: 23.53%
• 5Y*: 14.06%
• 10Y*: 11.63%

GSIB

• 1D: 1.92%
• 1M: 6.99%
• YTD: 13.98%
• 6M: 16.88%
• 1Y: 47.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVLU vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IVLU iShares MSCI International Value Factor ETF	12.96%	46.09%	6.76%	1.54%
GSIB Themes Global Systemically Important Banks ETF	13.98%	61.67%	32.86%	1.75%

Correlation

The correlation between IVLU and GSIB is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.79

The correlation between IVLU and GSIB has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

IVLU vs. GSIB - Sectors Allocation Comparison

Sectors	IVLU	GSIB
Financial Services	25.3%	100.0%
Industrials	17.2%	-
Technology	11.3%	-
Healthcare	9.7%	-
Basic Materials	7.5%	-
Consumer Cyclical	7.4%	-
Consumer Defensive	6.3%	-
Energy	5.1%	-
Communication Services	4.0%	-
Utilities	3.3%	-
Real Estate	1.5%	-

Return for Risk

IVLU vs. GSIB — Risk / Return Rank

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

IVLU

IVLU Risk / Return Rank: 73
IVLU Sharpe Ratio Rank: 78
IVLU Sortino Ratio Rank: 77
IVLU Omega Ratio Rank: 76
IVLU Calmar Ratio Rank: 67
IVLU Martin Ratio Rank: 69

GSIB

GSIB Risk / Return Rank: 81
GSIB Sharpe Ratio Rank: 89
GSIB Sortino Ratio Rank: 89
GSIB Omega Ratio Rank: 83
GSIB Calmar Ratio Rank: 74
GSIB Martin Ratio Rank: 71

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.

IVLU vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI International Value Factor ETF (IVLU) 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.

	IVLU	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.59	-0.42
Sortino ratio: Return per unit of downside risk	2.98	3.58	-0.60
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	2.90	3.28	-0.38
Martin ratio: Return relative to average drawdown	11.01	11.54	-0.53

IVLU vs. GSIB - Sharpe Ratio Comparison

The current IVLU Sharpe Ratio is 2.17, which is comparable to the GSIB Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of IVLU 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.

Drawdowns

IVLU vs. GSIB - Drawdown Comparison

The maximum IVLU drawdown since its inception was -41.85%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for IVLU and GSIB.

Drawdown Indicators

	IVLU	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-17.71%	-24.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-13.90%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-15.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	—	—
Current Drawdown Current decline from peak	-0.53%	0.00%	-0.53%
Average Drawdown Average peak-to-trough decline	-8.57%	-2.05%	-6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	3.94%	-0.85%

Volatility

IVLU vs. GSIB - Volatility Comparison

iShares MSCI International Value Factor ETF (IVLU) and Themes Global Systemically Important Banks ETF (GSIB) have volatilities of 5.44% and 5.59%, 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.

Volatility by Period

	IVLU	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	5.59%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	14.41%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	17.63%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	18.51%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	18.51%	-0.85%

IVLU vs. GSIB - Expense Ratio Comparison

IVLU has a 0.30% expense ratio, which is lower than GSIB's 0.35% expense ratio.

Dividends

IVLU vs. GSIB - Dividend Comparison

IVLU's dividend yield for the trailing twelve months is around 3.28%, more than GSIB's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIB Themes Global Systemically Important Banks ETF	1.67%	1.91%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IVLU iShares MSCI International Value Factor ETF	3.28%	3.71%	4.46%	4.69%	3.59%	3.47%	2.05%	3.53%	2.82%	2.87%	2.53%	0.93%

Frequently Asked Questions

Can I hold both IVLU and GSIB in my portfolio?

IVLU and GSIB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVLU or GSIB?

GSIB has higher volatility (5.59%) compared to IVLU (5.44%). In terms of maximum drawdown, IVLU dropped -41.85% vs GSIB's -17.71%.

Which ETF is better, IVLU or GSIB?

On 1-year performance, GSIB leads with 47.83% vs 35.32% for IVLU. On fees, IVLU is cheaper at 0.30% per year. On volatility, IVLU has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVLU or GSIB?

Over the 1-year period, GSIB has performed better with a 47.83% return vs 35.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVLU or GSIB?

IVLU is cheaper with a 0.30% expense ratio, compared with 0.35% for GSIB.

Which ETF pays a higher dividend yield, IVLU or GSIB?

IVLU has the higher dividend yield at 3.28%, compared with 1.67% for GSIB.

What is the main difference between IVLU and GSIB?

IVLU is categorized as Foreign Large Cap Equities, while GSIB is Financials Equities. They also come from different issuers: iShares and Themes. Their fees differ too: 0.30% for IVLU and 0.35% for GSIB.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.59 vs 2.17), 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.