MCSE vs. GSST
MCSE (Martin Currie Sustainable International Equity ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) are both exchange-traded funds - MCSE is a Foreign Large Cap Equities fund actively managed by Martin Currie, while GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. Both are actively managed. Over the past 3 years, MCSE returned -0.89%/yr vs 5.45%/yr for GSST. At a 0.06 correlation, their price movements are largely independent. MCSE charges 0.59%/yr vs 0.16%/yr for GSST.
Performance
MCSE vs. GSST - Performance Comparison
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Returns By Period
In the year-to-date period, MCSE achieves a 1.12% return, which is significantly lower than GSST's 1.98% return.
MCSE
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 1.12%
- 1Y
- -0.25%
- 3Y*
- -0.89%
- 5Y*
- —
- 10Y*
- —
GSST
- 1D
- -0.01%
- 1M
- 0.32%
- 6M
- 1.84%
- YTD
- 1.98%
- 1Y
- 4.42%
- 3Y*
- 5.45%
- 5Y*
- 3.83%
- 10Y*
- —
MCSE vs. GSST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MCSE Martin Currie Sustainable International Equity ETF | 1.12% | 7.79% | -9.46% | 14.86% | 10.04% |
GSST Goldman Sachs Ultra Short Bond ETF | 1.98% | 5.20% | 6.01% | 6.08% | 0.92% |
Correlation
The correlation between MCSE and GSST is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022 | 0.06 |
The correlation between MCSE and GSST shifts across timeframes, from -0.03 (1 year) to 0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MCSE vs. GSST — Risk / Return Rank
MCSE
GSST
MCSE vs. GSST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Martin Currie Sustainable International Equity ETF (MCSE) and Goldman Sachs Ultra Short Bond ETF (GSST). 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.
| MCSE | GSST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.66 | ||
| Sortino ratioReturn per unit of downside risk | -15.76 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 3.74 | -2.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 28.72 | -28.75 |
| Martin ratioReturn relative to average drawdown | -0.06 | 177.22 | -177.28 |
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Drawdowns
MCSE vs. GSST - Drawdown Comparison
The maximum MCSE drawdown since its inception was -26.36%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for MCSE and GSST.
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Drawdown Indicators
| MCSE | GSST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.36% | -3.51% | -22.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -0.15% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -0.25% | -26.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.19% | — |
Current DrawdownCurrent decline from peak | -10.51% | -0.01% | -10.50% |
Average DrawdownAverage peak-to-trough decline | -8.77% | -0.16% | -8.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 0.02% | +4.28% |
Volatility
MCSE vs. GSST - Volatility Comparison
The current volatility for Martin Currie Sustainable International Equity ETF (MCSE) is 0.00%, while Goldman Sachs Ultra Short Bond ETF (GSST) has a volatility of 0.13%. This indicates that MCSE experiences smaller price fluctuations and is considered to be less risky than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCSE | GSST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.13% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 0.41% | +3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.19% | 0.58% | +10.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.23% | 0.63% | +18.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.23% | 0.86% | +18.37% |
MCSE vs. GSST - Expense Ratio Comparison
MCSE has a 0.59% expense ratio, which is higher than GSST's 0.16% expense ratio.
Dividends
MCSE vs. GSST - Dividend Comparison
MCSE's dividend yield for the trailing twelve months is around 3.74%, less than GSST's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.30% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% |
MCSE Martin Currie Sustainable International Equity ETF | 3.74% | 3.78% | 0.63% | 0.57% | 0.48% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MCSE and GSST have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSST has higher volatility (0.13%) compared to MCSE (0.00%). In terms of maximum drawdown, MCSE dropped -26.36% vs GSST's -3.51%.
On 3-year performance, GSST leads with 5.45% vs -0.89% for MCSE. On fees, GSST is cheaper at 0.16% per year. On volatility, MCSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSST has performed better with a 5.45% return vs -0.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSST is cheaper with a 0.16% expense ratio, compared with 0.59% for MCSE.
GSST has the higher dividend yield at 4.30%, compared with 3.74% for MCSE.
MCSE is categorized as Foreign Large Cap Equities, while GSST is Ultrashort Bond. They also come from different issuers: Martin Currie and Goldman Sachs. Their fees differ too: 0.59% for MCSE and 0.16% for GSST.
GSST currently has the higher Sharpe Ratio (7.64 vs -0.02), 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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