Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Goldman Sachs ActiveBeta International Equity ETF
$45.96+0.32 (+0.70%)
- 0.25%
- $5.8B
- +16.0%
- 2.65%
- 0.4M sh
- $45.52
- low $40.05high $48.49
The ETF.net GSIE Grade
B
Score 67 out of 100
- 8 of 30
Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A74 out of 100Rank 8 of 30Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C46 out of 100Rank 18 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B66 out of 100Rank 8 of 30Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 8 of 30Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 2 of 30
Our read on GSIE
BGoldman's ActiveBeta engine pointed at developed markets outside the US: four factor sleeves (value, momentum, quality, low volatility) blended in equal weight across roughly 600 stocks. A tilt on the index, not a bet against it.
The Fund seeks to track the Goldman Sachs ActiveBeta International Equity Index, which provides exposure to equity securities of developed-market issuers outside the United States.
Why people hold it
- Value, momentum, quality and low volatility are each built as their own subindex, then combined in equal weights, so no single factor runs the portfolio.am.gs.com
- Charges 0.25% a year, below the median for international multifactor funds.
- Roughly 600 developed-market names, long only. It reweights a broad cap-weighted universe instead of cutting it to a short bet list.am.gs.com
- A multi-billion-dollar fund and one of the more liquid ways into the international factor trade.
Worth knowing
- The benchmark is Goldman's own index, not a third-party one, so the tilts follow GSAM's rules and can diverge from plain developed-ex-US exposure.am.gs.com
- Cheaper factor rivals exist: INTF at 0.16% and FDEV at 0.18%.
- Developed markets only, no emerging. Holdings trade in foreign currencies, so the dollar's swings ride along.gsam.com
GSIE Holdings
- Stocks
- 642
- 11%
- ASML.AS
Sectors
- Financials29.0%
- Industrials17.4%
- Technology10.5%
- Health Care8.9%
- Consumer Discretionary8.4%
- Consumer Staples7.3%
- Materials5.4%
- Energy4.9%
- Communication3.7%
- Utilities3.3%
- Real Estate1.1%
Geography
- Japan22.44%
- United Kingdom11.34%
- Canada11.21%
- Switzerland8.32%
- Germany7.52%
- France7.01%
- Netherlands5.85%
- Australia4.29%
- 22.03%
Developed 99% · Emerging 1%
GSIE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
GSIE$11,603
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GSIE |
|---|---|
| Year to date | +8.6% |
| 1 month | −3.3% |
| 3 months | −0.4% |
| 1 year | +16.0% |
| 3 years | +18.4% |
| 5 years | +9.1% |
| 10 years | +9.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GSIE |
|---|---|---|
| 2026 YTD | +8.6% | |
| 2025 | +32.5% | |
| 2024 | +5.2% | |
| 2023 | +17.0% | |
| 2022 | −15.9% | |
| 2021 | +13.3% | |
| 2020 | +7.5% |
GSIE in the news
GSIE Dividends
- 2.65%
- $1.21
- $0.26 per share
- Quarterly
Distribution history
GSIE Risk
- 11.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.15
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −29.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.87
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GSIE Cost
0.25%
GSIE0.25%
- The middle half of International Multifactor funds
- Median 0.35%
7 of the 30 International Multifactor funds charge less.
Other funds in International Multifactor
- BGLOFiShares Global Equity Factor ETFExpense ratio 0.20%1 year return +23.7%
- BISCFiShares International Small-Cap Equity Factor ETFExpense ratio 0.24%1 year return +14.6%
- BQEFAState Street SPDR MSCI EAFE StrategicFactors ETFExpense ratio 0.30%1 year return +15.9%
- BDEEFXtrackers FTSE Developed ex US Multifactor ETFExpense ratio 0.24%1 year return +17.9%
- BFENIFidelity Enhanced International ETFExpense ratio 0.28%1 year return +17.7%