TLTD vs. GSWO
Compare and contrast key facts about FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and Goldman Sachs ActiveBeta World Equity ETF (GSWO).
TLTD and GSWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TLTD is a passively managed fund by Northern Trust that tracks the performance of the Morningstar Developed Markets ex-US Factor Tilt Index. It was launched on Sep 28, 2012. GSWO is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. It was launched on Mar 15, 2022. Both TLTD and GSWO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TLTD vs. GSWO - Performance Comparison
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TLTD vs. GSWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt | 1.50% | 39.69% | 4.78% | 17.19% | -8.48% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | -2.17% | 18.97% | 15.29% | 16.28% | -6.15% |
Returns By Period
In the year-to-date period, TLTD achieves a 1.50% return, which is significantly higher than GSWO's -2.17% return.
TLTD
- 1D
- 3.03%
- 1M
- -8.32%
- YTD
- 1.50%
- 6M
- 7.64%
- 1Y
- 30.17%
- 3Y*
- 17.62%
- 5Y*
- 9.49%
- 10Y*
- 9.23%
GSWO
- 1D
- 2.87%
- 1M
- -5.76%
- YTD
- -2.17%
- 6M
- -0.46%
- 1Y
- 11.32%
- 3Y*
- 14.53%
- 5Y*
- —
- 10Y*
- —
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TLTD vs. GSWO - Expense Ratio Comparison
TLTD has a 0.39% expense ratio, which is higher than GSWO's 0.25% expense ratio.
Return for Risk
TLTD vs. GSWO — Risk / Return Rank
TLTD
GSWO
TLTD vs. GSWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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.
| TLTD | GSWO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.78 | 0.84 | +0.95 |
Sortino ratioReturn per unit of downside risk | 2.40 | 1.24 | +1.16 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.24 | +1.20 |
Martin ratioReturn relative to average drawdown | 9.90 | 5.62 | +4.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLTD | GSWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 0.84 | +0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.77 | -0.28 |
Correlation
The correlation between TLTD and GSWO is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TLTD vs. GSWO - Dividend Comparison
TLTD's dividend yield for the trailing twelve months is around 3.29%, more than GSWO's 1.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt | 3.29% | 3.44% | 3.88% | 3.39% | 2.76% | 3.44% | 2.04% | 3.46% | 3.16% | 2.71% | 2.93% | 2.56% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.83% | 1.74% | 1.75% | 2.06% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
TLTD vs. GSWO - Drawdown Comparison
The maximum TLTD drawdown since its inception was -40.62%, which is greater than GSWO's maximum drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for TLTD and GSWO.
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Drawdown Indicators
| TLTD | GSWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.62% | -17.77% | -22.85% |
Max Drawdown (1Y)Largest decline over 1 year | -12.11% | -9.50% | -2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -28.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.62% | — | — |
Current DrawdownCurrent decline from peak | -8.61% | -6.31% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -3.35% | -4.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.10% | +0.88% |
Volatility
TLTD vs. GSWO - Volatility Comparison
FlexShares Morningstar Developed Markets ex-US Factor Tilt (TLTD) has a higher volatility of 7.39% compared to Goldman Sachs ActiveBeta World Equity ETF (GSWO) at 5.76%. This indicates that TLTD's price experiences larger fluctuations and is considered to be riskier than GSWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTD | GSWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.39% | 5.76% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 8.20% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.02% | 13.60% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.84% | 12.98% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 12.98% | +3.78% |