JUST vs. GSIE

Last updated Jun 4, 2026

JUST (Goldman Sachs JUST U.S. Large Cap Equity ETF) and GSIE (Goldman Sachs ActiveBeta International Equity ETF) are both exchange-traded funds - JUST is a Large Cap Growth Equities fund tracking the JUST US Large Cap Diversified Index, while GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index. Both are passively managed. Over the past 5 years, JUST returned 13.24%/yr vs 8.04%/yr for GSIE. A 0.79 correlation means they provide meaningful diversification when combined. JUST charges 0.20%/yr vs 0.25%/yr for GSIE.

Performance

JUST vs. GSIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) and Goldman Sachs ActiveBeta International Equity ETF (GSIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JUST achieves a 11.64% return, which is significantly higher than GSIE's 6.51% return.

JUST

• 1D: -0.74%
• 1M: 4.90%
• YTD: 11.64%
• 6M: 11.94%
• 1Y: 29.04%
• 3Y*: 22.10%
• 5Y*: 13.24%
• 10Y*: —

GSIE

• 1D: -0.83%
• 1M: 2.22%
• YTD: 6.51%
• 6M: 9.50%
• 1Y: 19.35%
• 3Y*: 16.74%
• 5Y*: 8.04%
• 10Y*: 9.08%

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

JUST vs. GSIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	11.64%	17.60%	23.73%	24.86%	-17.88%	26.89%	19.59%	31.54%	-9.62%
GSIE Goldman Sachs ActiveBeta International Equity ETF	6.51%	32.53%	5.23%	16.99%	-15.86%	13.27%	7.45%	22.83%	-15.51%

Correlation

The correlation between JUST and GSIE 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 (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.79

The correlation between JUST and GSIE has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

JUST vs. GSIE - Sectors Allocation Comparison

Sectors	JUST	GSIE
Technology	35.8%	9.5%
Financial Services	12.5%	27.1%
Consumer Cyclical	9.8%	9.1%
Communication Services	9.3%	3.8%
Healthcare	8.6%	9.1%
Industrials	8.6%	18.0%
Consumer Defensive	5.5%	7.2%
Energy	3.6%	4.4%
Utilities	2.2%	3.2%
Real Estate	2.2%	1.2%
Basic Materials	2.2%	5.8%

Return for Risk

JUST vs. GSIE — Risk / Return Rank

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

JUST

JUST Risk / Return Rank: 74
JUST Sharpe Ratio Rank: 75
JUST Sortino Ratio Rank: 75
JUST Omega Ratio Rank: 73
JUST Calmar Ratio Rank: 67
JUST Martin Ratio Rank: 79

GSIE

GSIE Risk / Return Rank: 38
GSIE Sharpe Ratio Rank: 38
GSIE Sortino Ratio Rank: 38
GSIE Omega Ratio Rank: 37
GSIE Calmar Ratio Rank: 36
GSIE Martin Ratio Rank: 42

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.

JUST vs. GSIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) and Goldman Sachs ActiveBeta International Equity ETF (GSIE). 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.

	JUST	GSIE	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.38	+1.08
Sortino ratio: Return per unit of downside risk	3.38	1.99	+1.39
Omega ratio: Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio: Return relative to maximum drawdown	3.33	1.81	+1.52
Martin ratio: Return relative to average drawdown	15.48	6.87	+8.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JUST vs. GSIE - Sharpe Ratio Comparison

The current JUST Sharpe Ratio is 2.46, which is higher than the GSIE Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of JUST and GSIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JUST	GSIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.38	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.50	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.52	+0.26

Drawdowns

JUST vs. GSIE - Drawdown Comparison

The maximum JUST drawdown since its inception was -33.83%, roughly equal to the maximum GSIE drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for JUST and GSIE.

Drawdown Indicators

	JUST	GSIE	Difference
Max Drawdown Largest peak-to-trough decline	-33.83%	-34.63%	+0.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-10.76%	+2.00%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-13.07%	-6.27%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-29.97%	+5.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.63%	—
Current Drawdown Current decline from peak	-0.74%	-2.19%	+1.45%
Average Drawdown Average peak-to-trough decline	-5.10%	-6.06%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.82%	-0.94%

Volatility

JUST vs. GSIE - Volatility Comparison

The current volatility for Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) is 2.94%, while Goldman Sachs ActiveBeta International Equity ETF (GSIE) has a volatility of 4.38%. This indicates that JUST experiences smaller price fluctuations and is considered to be less risky than GSIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JUST	GSIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	4.38%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	11.60%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	14.15%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	16.04%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	16.75%	+2.37%

JUST vs. GSIE - Expense Ratio Comparison

JUST has a 0.20% expense ratio, which is lower than GSIE'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

JUST vs. GSIE - Dividend Comparison

JUST's dividend yield for the trailing twelve months is around 0.93%, less than GSIE's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSIE Goldman Sachs ActiveBeta International Equity ETF	2.52%	2.65%	3.11%	2.87%	3.01%	2.40%	1.60%	2.80%	2.68%	2.31%	2.15%	0.13%
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	0.93%	1.02%	1.11%	1.37%	1.51%	1.07%	1.36%	1.86%	1.11%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JUST and GSIE in my portfolio?

JUST and GSIE 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.

Which is riskier, JUST or GSIE?

GSIE has higher volatility (4.38%) compared to JUST (2.94%). In terms of maximum drawdown, JUST dropped -33.83% vs GSIE's -34.63%.

Which ETF is better, JUST or GSIE?

On 5-year performance, JUST leads with 13.24% vs 8.04% for GSIE. On fees, JUST is cheaper at 0.20% per year. On volatility, JUST has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUST or GSIE?

Over the 5-year period, JUST has performed better with a 13.24% return vs 8.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUST or GSIE?

JUST is cheaper with a 0.20% expense ratio, compared with 0.25% for GSIE.

Which ETF pays a higher dividend yield, JUST or GSIE?

GSIE has the higher dividend yield at 2.52%, compared with 0.93% for JUST.

What is the main difference between JUST and GSIE?

JUST is categorized as Large Cap Growth Equities, while GSIE is Foreign Large Cap Equities. JUST tracks JUST US Large Cap Diversified Index, while GSIE tracks Goldman Sachs ActiveBeta International Equity Index. Their fees differ too: 0.20% for JUST and 0.25% for GSIE.

Which has better risk-adjusted returns?

JUST currently has the higher Sharpe Ratio (2.46 vs 1.38), 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.