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IYG vs. GSIB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYG vs. GSIB

Last updated Jun 5, 2026

IYG (iShares U.S. Financial Services ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both Financials Equities funds. IYG is passively managed, while GSIB is actively managed. Over the past year, IYG returned 9.20% vs 45.28% for GSIB. A 0.72 correlation means they provide meaningful diversification when combined. IYG charges 0.42%/yr vs 0.35%/yr for GSIB.

Performance

IYG vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Financial Services ETF (IYG) 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, IYG achieves a -3.88% return, which is significantly lower than GSIB's 11.66% return.

IYG

1D
2.82%
1M
1.39%
YTD
-3.88%
6M
-1.63%
1Y
9.20%
3Y*
21.76%
5Y*
8.46%
10Y*
13.56%

GSIB

1D
1.74%
1M
6.71%
YTD
11.66%
6M
17.21%
1Y
45.28%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYG vs. GSIB - Yearly Performance Comparison

2026 (YTD)202520242023
IYG
iShares U.S. Financial Services ETF		-3.88%19.85%31.94%1.34%
GSIB
Themes Global Systemically Important Banks ETF		11.66%61.67%32.86%2.35%

Correlation

The correlation between IYG and GSIB is 0.74, 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

0.74

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

0.72

The correlation between IYG and GSIB has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

IYG vs. GSIB - Sectors Allocation Comparison

Sectors
IYG
GSIB

Financial Services

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

IYG
100.0%
GSIB
100.0%

Basic Materials

IYG

-

GSIB

-

Communication Services

IYG

-

GSIB

-

Consumer Cyclical

IYG

-

GSIB

-

Consumer Defensive

IYG

-

GSIB

-

Energy

IYG

-

GSIB

-

Healthcare

IYG

-

GSIB

-

Industrials

IYG

-

GSIB

-

Real Estate

IYG

-

GSIB

-

Technology

IYG

-

GSIB

-

Utilities

IYG

-

GSIB

-

Compare stocks, funds, or ETFs

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iShares U.S. Financial Services ETF

Themes Global Systemically Important Banks ETF

Often compared with IYG:
IYG vs. IYFIYG vs. XLFIYG vs. IXGIYG vs. VFHIYG vs. FTXOIYG vs. GABFIYG vs. IYK
Often compared with GSIB:
GSIB vs. EUFNGSIB vs. ATMPGSIB vs. PCGGGSIB vs. FTXOGSIB vs. GDEGSIB vs. XLFGSIB vs. FNGS

Return for Risk

IYG vs. GSIB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYG
IYG Risk / Return Rank: 1818
Overall Rank
IYG Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
IYG Sortino Ratio Rank: 1919
Sortino Ratio Rank
IYG Omega Ratio Rank: 1919
Omega Ratio Rank
IYG Calmar Ratio Rank: 1717
Calmar Ratio Rank
IYG Martin Ratio Rank: 1616
Martin Ratio Rank
GSIB
GSIB Risk / Return Rank: 7474
Overall Rank
GSIB Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
GSIB Sortino Ratio Rank: 8282
Sortino Ratio Rank
GSIB Omega Ratio Rank: 7575
Omega Ratio Rank
GSIB Calmar Ratio Rank: 6767
Calmar Ratio Rank
GSIB Martin Ratio Rank: 6565
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.

IYG vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) 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.

IYGGSIBDifference
Sharpe ratioReturn per unit of total volatility
0.59
2.63

-2.04

Sortino ratioReturn per unit of downside risk
0.89
3.61

-2.73

Omega ratioGain probability vs. loss probability

1.11

1.44

-0.32

Calmar ratioReturn relative to maximum drawdown

0.58

3.27

-2.69

Martin ratioReturn relative to average drawdown

1.51

11.53

-10.02

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

IYG vs. GSIB - Sharpe Ratio Comparison

The current IYG Sharpe Ratio is 0.59, which is lower than the GSIB Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of IYG 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

IYGGSIBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.59

2.63

-2.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

2.40

-2.18

Drawdowns

IYG vs. GSIB - Drawdown Comparison

The maximum IYG drawdown since its inception was -81.84%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for IYG and GSIB.

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Drawdown Indicators

IYGGSIBDifference

Max Drawdown

Largest peak-to-trough decline

-81.84%

-17.71%

-64.13%

Max Drawdown (1Y)

Largest decline over 1 year

-15.90%

-13.90%

-2.00%

Max Drawdown (3Y)

Largest decline over 3 years

-18.54%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-29.62%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-44.32%

—

—

Current Drawdown

Current decline from peak

-7.23%

0.00%

-7.23%

Average Drawdown

Average peak-to-trough decline

-20.74%

-2.06%

-18.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.11%

3.94%

+2.17%

Volatility

IYG vs. GSIB - Volatility Comparison

The current volatility for iShares U.S. Financial Services ETF (IYG) is 4.41%, while Themes Global Systemically Important Banks ETF (GSIB) has a volatility of 5.44%. This indicates that IYG 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

IYGGSIBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

5.44%

-1.03%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

14.05%

-1.95%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

17.30%

-1.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.47%

18.47%

+2.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.54%

18.47%

+5.07%

IYG vs. GSIB - Expense Ratio Comparison

IYG has a 0.42% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

IYG vs. GSIB - Dividend Comparison

IYG's dividend yield for the trailing twelve months is around 1.11%, less than GSIB's 1.71% yield.

PositionTTM20252024202320222021202020192018201720162015
GSIB
Themes Global Systemically Important Banks ETF		1.71%1.91%1.67%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IYG
iShares U.S. Financial Services ETF		1.11%1.00%1.16%1.77%2.07%1.25%1.71%1.59%1.81%1.24%1.28%1.33%

Frequently Asked Questions

IYG and GSIB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSIB has higher volatility (5.44%) compared to IYG (4.41%). In terms of maximum drawdown, IYG dropped -81.84% vs GSIB's -17.71%.

On 1-year performance, GSIB leads with 45.28% vs 9.20% for IYG. On fees, GSIB is cheaper at 0.35% per year. On volatility, IYG has been the lower-risk option at 4.41%. 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 45.28% return vs 9.20%. 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 IYG.

GSIB has the higher dividend yield at 1.71%, compared with 1.11% for IYG.

They also come from different issuers: iShares and Themes. Their fees differ too: 0.42% for IYG and 0.35% for GSIB.

GSIB currently has the higher Sharpe Ratio (2.63 vs 0.59), 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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