IZRL vs. GINN

Last updated Jun 23, 2026

IZRL (ARK Israel Innovative Technology ETF) and GINN (Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF) are both Technology Equities funds - IZRL tracks the ARK Israeli Innovation Index while GINN tracks the Solactive Innovative Global Equity Index. Both are passively managed. Over the past 5 years, IZRL returned -1.01%/yr vs 5.89%/yr for GINN. Their correlation of 0.81 suggests significant overlap in exposure. IZRL charges 0.49%/yr vs 0.50%/yr for GINN.

Performance

IZRL vs. GINN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Israel Innovative Technology ETF (IZRL) and Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF (GINN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IZRL achieves a -1.91% return, which is significantly lower than GINN's 6.12% return.

IZRL

• 1D: -1.61%
• 1M: -5.85%
• YTD: -1.91%
• 6M: -1.00%
• 1Y: 19.76%
• 3Y*: 17.64%
• 5Y*: -1.01%
• 10Y*: —

GINN

• 1D: -0.46%
• 1M: -0.91%
• YTD: 6.12%
• 6M: 4.54%
• 1Y: 22.47%
• 3Y*: 18.70%
• 5Y*: 5.89%
• 10Y*: —

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

IZRL vs. GINN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IZRL ARK Israel Innovative Technology ETF	-1.91%	36.94%	15.28%	11.39%	-38.61%	-3.55%	15.49%
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF	6.12%	20.25%	18.71%	29.94%	-32.40%	10.39%	8.08%

Correlation

The correlation between IZRL and GINN is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Nov 9, 2020	0.81

The correlation between IZRL and GINN has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.

IZRL vs. GINN - Sectors Allocation Comparison

Sectors	IZRL	GINN
Technology	36.7%	32.6%
Healthcare	14.9%	20.6%
Communication Services	10.8%	10.7%
Financial Services	5.1%	12.4%
Industrials	3.2%	4.7%
Consumer Cyclical	2.0%	12.7%
Consumer Defensive	1.8%	1.8%
Basic Materials	-	0.1%
Energy	-	1.7%
Real Estate	-	0.6%
Utilities	-	1.7%

Return for Risk

IZRL vs. GINN — Risk / Return Rank

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

IZRL

IZRL Risk / Return Rank: 24
IZRL Sharpe Ratio Rank: 25
IZRL Sortino Ratio Rank: 25
IZRL Omega Ratio Rank: 23
IZRL Calmar Ratio Rank: 24
IZRL Martin Ratio Rank: 24

GINN

GINN Risk / Return Rank: 38
GINN Sharpe Ratio Rank: 40
GINN Sortino Ratio Rank: 38
GINN Omega Ratio Rank: 37
GINN Calmar Ratio Rank: 35
GINN Martin Ratio Rank: 39

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.

IZRL vs. GINN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Israel Innovative Technology ETF (IZRL) and Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF (GINN). 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.

	IZRL	GINN	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.37	-0.48
Sortino ratio: Return per unit of downside risk	1.36	1.92	-0.57
Omega ratio: Gain probability vs. loss probability	1.16	1.24	-0.08
Calmar ratio: Return relative to maximum drawdown	1.09	1.71	-0.63
Martin ratio: Return relative to average drawdown	3.06	6.03	-2.97

IZRL vs. GINN - Sharpe Ratio Comparison

The current IZRL Sharpe Ratio is 0.88, which is lower than the GINN Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of IZRL and GINN, 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

IZRL vs. GINN - Drawdown Comparison

The maximum IZRL drawdown since its inception was -59.98%, which is greater than GINN's maximum drawdown of -41.25%. Use the drawdown chart below to compare losses from any high point for IZRL and GINN.

Drawdown Indicators

	IZRL	GINN	Difference
Max Drawdown Largest peak-to-trough decline	-59.98%	-41.25%	-18.73%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-13.18%	-5.09%
Max Drawdown (3Y) Largest decline over 3 years	-24.60%	-22.25%	-2.35%
Max Drawdown (5Y) Largest decline over 5 years	-53.21%	-41.25%	-11.96%
Current Drawdown Current decline from peak	-20.29%	-3.91%	-16.38%
Average Drawdown Average peak-to-trough decline	-25.72%	-13.28%	-12.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.47%	3.74%	+2.73%

Volatility

IZRL vs. GINN - Volatility Comparison

ARK Israel Innovative Technology ETF (IZRL) has a higher volatility of 9.32% compared to Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF (GINN) at 5.78%. This indicates that IZRL's price experiences larger fluctuations and is considered to be riskier than GINN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IZRL	GINN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	5.78%	+3.54%
Volatility (6M) Calculated over the trailing 6-month period	17.82%	12.90%	+4.92%
Volatility (1Y) Calculated over the trailing 1-year period	22.54%	16.56%	+5.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	21.43%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	21.07%	+3.85%

IZRL vs. GINN - Expense Ratio Comparison

IZRL has a 0.49% expense ratio, which is lower than GINN's 0.50% expense ratio.

Dividends

IZRL vs. GINN - Dividend Comparison

IZRL's dividend yield for the trailing twelve months is around 2.64%, more than GINN's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GINN Goldman Sachs ETF Trust Goldman Sachs Innovate Equity ETF	1.19%	1.26%	1.26%	1.01%	0.69%	0.67%	0.07%	0.00%	0.00%
IZRL ARK Israel Innovative Technology ETF	2.64%	2.59%	0.45%	0.00%	0.00%	0.34%	0.00%	2.15%	3.08%

Frequently Asked Questions

Can I hold both IZRL and GINN in my portfolio?

IZRL and GINN have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IZRL or GINN?

IZRL has higher volatility (9.32%) compared to GINN (5.78%). In terms of maximum drawdown, IZRL dropped -59.98% vs GINN's -41.25%.

Which ETF is better, IZRL or GINN?

On 5-year performance, GINN leads with 5.89% vs -1.01% for IZRL. On fees, IZRL is cheaper at 0.49% per year. On volatility, GINN has been the lower-risk option at 5.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IZRL or GINN?

Over the 5-year period, GINN has performed better with a 5.89% return vs -1.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IZRL or GINN?

IZRL is cheaper with a 0.49% expense ratio, compared with 0.50% for GINN.

Which ETF pays a higher dividend yield, IZRL or GINN?

IZRL has the higher dividend yield at 2.64%, compared with 1.19% for GINN.

What is the main difference between IZRL and GINN?

IZRL tracks ARK Israeli Innovation Index, while GINN tracks Solactive Innovative Global Equity Index. They also come from different issuers: ARK and Goldman Sachs. Their fees differ too: 0.49% for IZRL and 0.50% for GINN.

Which has better risk-adjusted returns?

GINN currently has the higher Sharpe Ratio (1.37 vs 0.88), 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.