RSBY vs. GSIB

Last updated Jun 23, 2026

RSBY (Return Stacked Bonds & Futures Yield ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - RSBY is a Multistrategy fund actively managed by Return Stacked, while GSIB is a Financials Equities fund actively managed by Themes. Both are actively managed. Over the past year, RSBY returned 13.61% vs 48.44% for GSIB. At a correlation of -0.24, they often move in opposite directions. RSBY charges 0.98%/yr vs 0.35%/yr for GSIB.

Performance

RSBY vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Return Stacked Bonds & Futures Yield ETF (RSBY) 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, RSBY achieves a 18.30% return, which is significantly higher than GSIB's 16.30% return.

RSBY

• 1D: -0.46%
• 1M: 0.60%
• YTD: 18.30%
• 6M: 18.77%
• 1Y: 13.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSIB

• 1D: -0.60%
• 1M: 7.54%
• YTD: 16.30%
• 6M: 15.82%
• 1Y: 48.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RSBY vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSBY Return Stacked Bonds & Futures Yield ETF	18.30%	-12.98%	-7.79%
GSIB Themes Global Systemically Important Banks ETF	16.30%	61.67%	11.33%

Correlation

The correlation between RSBY and GSIB is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.29
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.24

Return for Risk

RSBY vs. GSIB — Risk / Return Rank

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

RSBY

RSBY Risk / Return Rank: 33
RSBY Sharpe Ratio Rank: 35
RSBY Sortino Ratio Rank: 35
RSBY Omega Ratio Rank: 31
RSBY Calmar Ratio Rank: 35
RSBY Martin Ratio Rank: 30

GSIB

GSIB Risk / Return Rank: 80
GSIB Sharpe Ratio Rank: 89
GSIB Sortino Ratio Rank: 89
GSIB Omega Ratio Rank: 82
GSIB Calmar Ratio Rank: 72
GSIB Martin Ratio Rank: 70

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.

RSBY vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Return Stacked Bonds & Futures Yield ETF (RSBY) 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.

	RSBY	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.80	-1.59
Sortino ratio: Return per unit of downside risk	1.77	3.85	-2.08
Omega ratio: Gain probability vs. loss probability	1.21	1.47	-0.26
Calmar ratio: Return relative to maximum drawdown	1.72	3.50	-1.78
Martin ratio: Return relative to average drawdown	4.09	12.33	-8.24

RSBY vs. GSIB - Sharpe Ratio Comparison

The current RSBY Sharpe Ratio is 1.21, which is lower than the GSIB Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of RSBY 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

RSBY vs. GSIB - Drawdown Comparison

The maximum RSBY drawdown since its inception was -23.32%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for RSBY and GSIB.

Drawdown Indicators

	RSBY	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-23.32%	-17.71%	-5.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-13.90%	+5.95%
Current Drawdown Current decline from peak	-6.63%	-0.60%	-6.03%
Average Drawdown Average peak-to-trough decline	-13.56%	-2.03%	-11.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.94%	-0.49%

Volatility

RSBY vs. GSIB - Volatility Comparison

The current volatility for Return Stacked Bonds & Futures Yield ETF (RSBY) is 1.98%, while Themes Global Systemically Important Banks ETF (GSIB) has a volatility of 4.91%. This indicates that RSBY 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.

Volatility by Period

	RSBY	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	4.91%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	8.25%	14.38%	-6.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	17.41%	-6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.41%	18.45%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.41%	18.45%	-5.04%

RSBY vs. GSIB - Expense Ratio Comparison

RSBY has a 0.98% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

RSBY vs. GSIB - Dividend Comparison

RSBY's dividend yield for the trailing twelve months is around 1.75%, more than GSIB's 1.64% yield.

Position	TTM	2025	2024
GSIB Themes Global Systemically Important Banks ETF	1.64%	1.91%	1.67%
RSBY Return Stacked Bonds & Futures Yield ETF	1.75%	2.07%	2.29%

Frequently Asked Questions

Can I hold both RSBY and GSIB in my portfolio?

RSBY and GSIB have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSBY or GSIB?

GSIB has higher volatility (4.91%) compared to RSBY (1.98%). In terms of maximum drawdown, RSBY dropped -23.32% vs GSIB's -17.71%.

Which ETF is better, RSBY or GSIB?

On 1-year performance, GSIB leads with 48.44% vs 13.61% for RSBY. On fees, GSIB is cheaper at 0.35% per year. On volatility, RSBY has been the lower-risk option at 1.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSBY or GSIB?

Over the 1-year period, GSIB has performed better with a 48.44% return vs 13.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSBY or GSIB?

GSIB is cheaper with a 0.35% expense ratio, compared with 0.98% for RSBY.

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

RSBY has the higher dividend yield at 1.75%, compared with 1.64% for GSIB.

What is the main difference between RSBY and GSIB?

RSBY is categorized as Multistrategy, while GSIB is Financials Equities. They also come from different issuers: Return Stacked and Themes. Their fees differ too: 0.98% for RSBY and 0.35% for GSIB.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.80 vs 1.21), 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.