SUSA vs. GSEU

Last updated Jun 5, 2026

SUSA (iShares MSCI USA ESG Select ETF) and GSEU (Goldman Sachs ActiveBeta Europe Equity ETF) are both exchange-traded funds - SUSA is a Large Cap Growth Equities fund tracking the MSCI USA ESG Select Index, while GSEU is a Europe Equities fund tracking the Goldman Sachs ActiveBeta Europe Equity Index. Both are passively managed. Over the past 10 years, SUSA returned 15.03%/yr vs 9.25%/yr for GSEU. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.

Performance

SUSA vs. GSEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA ESG Select ETF (SUSA) and Goldman Sachs ActiveBeta Europe Equity ETF (GSEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUSA achieves a 11.51% return, which is significantly higher than GSEU's 6.97% return. Over the past 10 years, SUSA has outperformed GSEU with an annualized return of 15.03%, while GSEU has yielded a comparatively lower 9.25% annualized return.

SUSA

• 1D: 0.36%
• 1M: 5.24%
• YTD: 11.51%
• 6M: 11.01%
• 1Y: 26.81%
• 3Y*: 21.19%
• 5Y*: 11.94%
• 10Y*: 15.03%

GSEU

• 1D: 1.28%
• 1M: 2.78%
• YTD: 6.97%
• 6M: 10.59%
• 1Y: 18.39%
• 3Y*: 17.27%
• 5Y*: 8.36%
• 10Y*: 9.25%

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

SUSA vs. GSEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUSA iShares MSCI USA ESG Select ETF	11.51%	15.72%	22.43%	23.88%	-21.38%	30.45%	24.66%	32.10%	-5.67%	22.52%
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	6.97%	35.70%	2.00%	20.74%	-17.90%	17.33%	6.64%	24.57%	-14.29%	26.97%

Correlation

The correlation between SUSA and GSEU is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 7, 2016	0.72

The correlation between SUSA and GSEU has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.

SUSA vs. GSEU - Sectors Allocation Comparison

Sectors	SUSA	GSEU
Technology	39.4%	8.1%
Financial Services	11.9%	24.7%
Industrials	10.2%	19.9%
Healthcare	9.0%	13.1%
Communication Services	8.5%	4.6%
Consumer Cyclical	6.9%	6.6%
Energy	3.9%	4.4%
Consumer Defensive	3.5%	8.4%
Real Estate	3.1%	0.6%
Basic Materials	2.5%	5.0%
Utilities	1.3%	4.8%

Return for Risk

SUSA vs. GSEU — Risk / Return Rank

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

SUSA

SUSA Risk / Return Rank: 65
SUSA Sharpe Ratio Rank: 67
SUSA Sortino Ratio Rank: 66
SUSA Omega Ratio Rank: 66
SUSA Calmar Ratio Rank: 57
SUSA Martin Ratio Rank: 67

GSEU

GSEU Risk / Return Rank: 34
GSEU Sharpe Ratio Rank: 34
GSEU Sortino Ratio Rank: 34
GSEU Omega Ratio Rank: 34
GSEU Calmar Ratio Rank: 31
GSEU Martin Ratio Rank: 38

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.

SUSA vs. GSEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA ESG Select ETF (SUSA) and Goldman Sachs ActiveBeta Europe Equity ETF (GSEU). 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.

	SUSA	GSEU	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.22	+0.96
Sortino ratio: Return per unit of downside risk	3.00	1.75	+1.25
Omega ratio: Gain probability vs. loss probability	1.39	1.22	+0.17
Calmar ratio: Return relative to maximum drawdown	2.77	1.55	+1.22
Martin ratio: Return relative to average drawdown	12.27	5.83	+6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SUSA vs. GSEU - Sharpe Ratio Comparison

The current SUSA Sharpe Ratio is 2.18, which is higher than the GSEU Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of SUSA and GSEU, 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

	SUSA	GSEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.22	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.49	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.51	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.53	+0.05

Drawdowns

SUSA vs. GSEU - Drawdown Comparison

The maximum SUSA drawdown since its inception was -53.93%, which is greater than GSEU's maximum drawdown of -35.71%. Use the drawdown chart below to compare losses from any high point for SUSA and GSEU.

Drawdown Indicators

	SUSA	GSEU	Difference
Max Drawdown Largest peak-to-trough decline	-53.93%	-35.71%	-18.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-11.90%	+2.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-14.12%	-5.18%
Max Drawdown (5Y) Largest decline over 5 years	-28.23%	-33.98%	+5.75%
Max Drawdown (10Y) Largest decline over 10 years	-32.93%	-35.71%	+2.78%
Current Drawdown Current decline from peak	-0.52%	-0.90%	+0.38%
Average Drawdown Average peak-to-trough decline	-7.24%	-6.60%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	3.16%	-0.97%

Volatility

SUSA vs. GSEU - Volatility Comparison

The current volatility for iShares MSCI USA ESG Select ETF (SUSA) is 3.17%, while Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) has a volatility of 5.54%. This indicates that SUSA experiences smaller price fluctuations and is considered to be less risky than GSEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUSA	GSEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	5.54%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	9.58%	12.53%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	15.14%	-2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.33%	17.14%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	18.11%	+0.04%

SUSA vs. GSEU - Expense Ratio Comparison

Both SUSA and GSEU have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SUSA vs. GSEU - Dividend Comparison

SUSA's dividend yield for the trailing twelve months is around 0.82%, less than GSEU's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSEU Goldman Sachs ActiveBeta Europe Equity ETF	2.55%	2.72%	2.35%	3.41%	3.34%	2.71%	1.84%	3.69%	3.40%	2.51%	2.74%	0.00%
SUSA iShares MSCI USA ESG Select ETF	0.82%	0.89%	1.15%	1.32%	1.52%	0.98%	1.17%	1.52%	1.72%	1.40%	1.56%	1.42%

Frequently Asked Questions

Can I hold both SUSA and GSEU in my portfolio?

SUSA and GSEU have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUSA or GSEU?

GSEU has higher volatility (5.54%) compared to SUSA (3.17%). In terms of maximum drawdown, SUSA dropped -53.93% vs GSEU's -35.71%.

Which ETF is better, SUSA or GSEU?

On 10-year performance, SUSA leads with 15.03% vs 9.25% for GSEU. Both ETFs have the same 0.25% expense ratio. On volatility, SUSA has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUSA or GSEU?

Over the 10-year period, SUSA has performed better with a 15.03% return vs 9.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUSA or GSEU?

SUSA and GSEU have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, SUSA or GSEU?

GSEU has the higher dividend yield at 2.55%, compared with 0.82% for SUSA.

What is the main difference between SUSA and GSEU?

SUSA is categorized as Large Cap Growth Equities, while GSEU is Europe Equities. SUSA tracks MSCI USA ESG Select Index, while GSEU tracks Goldman Sachs ActiveBeta Europe Equity Index. They also come from different issuers: iShares and Goldman Sachs.

Which has better risk-adjusted returns?

SUSA currently has the higher Sharpe Ratio (2.18 vs 1.22), 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.