STCE vs. GSIB

Last updated Jul 22, 2026

STCE (Schwab Crypto Thematic ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - STCE is a Blockchain fund tracking the Schwab Crypto Thematic Index, while GSIB is a Financials Equities fund actively managed by Themes. STCE is passively managed, while GSIB is actively managed. Over the past year, STCE returned 20.08% vs 43.71% for GSIB. At a 0.43 correlation, their price movements are largely independent. STCE charges 0.30%/yr vs 0.35%/yr for GSIB.

Performance

STCE vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Crypto Thematic ETF (STCE) 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, STCE achieves a 13.97% return, which is significantly lower than GSIB's 19.16% return.

STCE

• 1D: 4.92%
• 1M: -13.45%
• 6M: -3.75%
• YTD: 13.97%
• 1Y: 20.08%
• 3Y*: 38.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.59%

GSIB

• 1D: 1.06%
• 1M: 2.75%
• 6M: 18.02%
• YTD: 19.16%
• 1Y: 43.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.54%

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

STCE vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
STCE Schwab Crypto Thematic ETF	13.97%	36.12%	41.76%	7.44%
GSIB Themes Global Systemically Important Banks ETF	19.16%	61.67%	32.86%	1.75%

Correlation

The correlation between STCE and GSIB is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.43

STCE vs. GSIB - Sectors Allocation Comparison

Sectors	STCE	GSIB
Financial Services	66.5%	99.4%
Technology	26.0%	0.1%
Communication Services	6.6%	-
Utilities	1.0%	-
Energy	0.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-

Return for Risk

STCE vs. GSIB — Risk / Return Rank

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

STCE

STCE Risk / Return Rank: 18
STCE Sharpe Ratio Rank: 17
STCE Sortino Ratio Rank: 22
STCE Omega Ratio Rank: 20
STCE Calmar Ratio Rank: 16
STCE Martin Ratio Rank: 14

GSIB

GSIB Risk / Return Rank: 87
GSIB Sharpe Ratio Rank: 92
GSIB Sortino Ratio Rank: 92
GSIB Omega Ratio Rank: 88
GSIB Calmar Ratio Rank: 81
GSIB Martin Ratio Rank: 79

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.

STCE vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Crypto Thematic ETF (STCE) 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.

	STCE	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	0.32	2.50	-2.18
Sortino ratio: Return per unit of downside risk	0.88	3.49	-2.60
Omega ratio: Gain probability vs. loss probability	1.10	1.41	-0.31
Calmar ratio: Return relative to maximum drawdown	0.37	3.16	-2.79
Martin ratio: Return relative to average drawdown	0.63	11.05	-10.43

STCE vs. GSIB - Sharpe Ratio Comparison

The current STCE Sharpe Ratio is 0.32, which is lower than the GSIB Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of STCE 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

STCE vs. GSIB - Drawdown Comparison

The maximum STCE drawdown since its inception was -54.11%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for STCE and GSIB.

Drawdown Indicators

	STCE	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-54.11%	-17.71%	-36.40%
Max Drawdown (1Y) Largest decline over 1 year	-54.11%	-13.90%	-40.21%
Max Drawdown (3Y) Largest decline over 3 years	-54.11%	—	—
Current Drawdown Current decline from peak	-35.79%	-1.10%	-34.69%
Average Drawdown Average peak-to-trough decline	-22.33%	-2.01%	-20.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.18%	3.96%	+28.22%

Volatility

STCE vs. GSIB - Volatility Comparison

Schwab Crypto Thematic ETF (STCE) has a higher volatility of 15.40% compared to Themes Global Systemically Important Banks ETF (GSIB) at 4.46%. This indicates that STCE's price experiences larger fluctuations and is considered to be riskier than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STCE	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.40%	4.46%	+10.94%
Volatility (6M) Calculated over the trailing 6-month period	42.92%	14.61%	+28.31%
Volatility (1Y) Calculated over the trailing 1-year period	62.51%	17.56%	+44.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.00%	18.37%	+37.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.00%	18.37%	+37.63%

STCE vs. GSIB - Expense Ratio Comparison

STCE has a 0.30% expense ratio, which is lower than GSIB's 0.35% expense ratio.

Dividends

STCE vs. GSIB - Dividend Comparison

STCE's dividend yield for the trailing twelve months is around 1.66%, more than GSIB's 1.60% yield.

Position	TTM	2025	2024	2023	2022
GSIB Themes Global Systemically Important Banks ETF	1.60%	1.91%	1.67%	0.00%	0.00%
STCE Schwab Crypto Thematic ETF	1.66%	1.96%	0.64%	0.31%	1.46%

Frequently Asked Questions

Can I hold both STCE and GSIB in my portfolio?

STCE and GSIB have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STCE or GSIB?

STCE has higher volatility (15.40%) compared to GSIB (4.46%). In terms of maximum drawdown, STCE dropped -54.11% vs GSIB's -17.71%.

Which ETF is better, STCE or GSIB?

On 1-year performance, GSIB leads with 43.71% vs 20.08% for STCE. On fees, STCE is cheaper at 0.30% per year. On volatility, GSIB has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STCE or GSIB?

Over the 1-year period, GSIB has performed better with a 43.71% return vs 20.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STCE or GSIB?

STCE is cheaper with a 0.30% expense ratio, compared with 0.35% for GSIB.

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

STCE has the higher dividend yield at 1.66%, compared with 1.60% for GSIB.

What is the main difference between STCE and GSIB?

STCE is categorized as Blockchain, while GSIB is Financials Equities. They also come from different issuers: Charles Schwab and Themes. Their fees differ too: 0.30% for STCE and 0.35% for GSIB.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.50 vs 0.32), 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.