DWMF vs GSWO: Grades, Fees and Holdings Compared

WisdomTree International Multifactor Fund

DWMFDNYSE Arca

Goldman Sachs ActiveBeta World Equity ETF

GSWOACboe

Overlap

10.8%by weight

Expense ratio

GSWO −0.23pt a year

DWMF0.38%GSWO0.15%

Avg volume · 30D

GSWO 52.6×the volume

DWMF1.22KGSWO64K

DWMF vs GSWO Performance

Jul 31, 2026 – Oct 30, 2026

−2.6%DWMF+0.5%GSWO

Expense ratio: DWMF 0.38%; GSWO 0.15%, better
Fund size: DWMF $33M; GSWO $1.79B
1Y total return: DWMF +5.8%; GSWO No data
Yield (12M): DWMF 2.99%, better; GSWO 1.46%
Holdings: DWMF 214; GSWO 751
Avg volume (30D): DWMF 1.22K sh; GSWO 64K sh, better
NAV per share: DWMF $33.05; GSWO $64.95
52W range

ETF.net Grade

Pillar letters and Scores for DWMF, GSWO, with each pillar’s weight
Pillar	DWMF	GSWO
Cost30% weight	C40	A98Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B55	B67Higher
Tradability15% weight	F4	A86Higher
Holdings10% weight	B58Higher	F22
Durability5% weight	D38	B62Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. DWMF and GSWO are both graded against the same 30 International Multifactor funds, so their Grades compare head to head.

International Multifactor⁠

Category · 30 funds

See all 30 ›

GSWO ranks 3rd and DWMF 23rd of 30 funds in the International Multifactor Category.

Rank 1AINTFiShares International Equity Factor ETFScore 79
Rank 2ADFAIDimensional International Core Equity Market ETFScore 77
Rank 3AGSWOGoldman Sachs ActiveBeta World Equity ETFScore 76
Rank 4AFDEVFidelity International Multifactor ETFScore 73
Rank 21DRWINRayliant NxtGen Multifactor International Equity ETFScore 38
Rank 23DDWMFWisdomTree International Multifactor FundScore 37
Rank 23DIFLOVictoryShares International Free Cash Flow ETFScore 37

Our read on each fund

ETF.net Research

DWMFDWisdomTree International Multifactor Fund

GSWOAGoldman Sachs ActiveBeta World Equity ETF

In short

DWMF Most international factor ETFs pick the stocks and let the currency chips fall where they may. DWMF is actively managed and bolts a dynamic dollar hedge onto its value, quality, momentum and correlation screens.

GSWO Four factor tilts (value, momentum, quality, low volatility) on developed markets outside the US, for 15 basis points. Goldman's ActiveBeta rules at a price closer to an index fund than an active one.

Stated mandate

DWMF The Fund seeks capital appreciation through primary investments in equities of developed countries outside the United States and Canada. It selects securities using composite scores based on value, quality, momentum and WisdomTree TAPE.

GSWO The fund is an ActiveBeta World Equity ETF designed to track an ActiveBeta Index and provide exposure to value, momentum, quality, and low-volatility characteristics.

Why people hold it

DWMF Two jobs in one ticker: a composite score built from value and quality fundamentals plus momentum and correlation signals, then a currency overlay applied currency by currency.wisdomtree.com wisdomtree.com 2
Actively managed rather than index-locked, so hedge ratios are weighted by conviction in each signal instead of following a fixed schedule.wisdomtree.com
The 0.38% fee sits right at the middle of the international multifactor pack, and it covers the stock selection and the currency work in one wrapper.
Roughly 220 developed-market names outside the US and Canada, so no single stock carries the whole thesis.

GSWO 0.15% a year against a 0.69% median for its global active-equity peers, and cheaper than fellow top-graded names DFAW (0.24%) and AVGE (0.25%).
Value, momentum, quality and low volatility come from one published ActiveBeta index methodology, not a manager's discretionary call.gsam.com
Stands among the strongest implementations in its global equity peer group: a multi-billion-dollar fund in the standard 1940 Act ETF wrapper that pays quarterly.

Worth knowing

DWMF A small, thinly traded fund that lands in the lower half of its international multifactor peer group, with trading costs and scale the main drag.
Index-based rivals undercut it on fees: INTF at 0.16%, FDEV at 0.18%, GSIE at 0.25%. The active stock and currency layer is what the extra buys.
The currency overlay is a second engine, so results can diverge from unhedged developed-market benchmarks in either direction.wisdomtree.com

GSWO Despite the "World" name, the reference index is MSCI World ex USA, so US stocks sit outside the mandate.
Launched in 2022, so the live record is short, and factor blends can trail plain cap-weighted benchmarks for long stretches.
Four factors in one basket can pull against each other; the net tilt is milder than a single-factor fund.

Full DWMF profile⁠

Full GSWO profile⁠

DWMF vs GSWO Holdings

How DWMF and GSWO differ

Overlap by weight

10.8%

Shared holdings make up 59.8% of DWMF and 10.9% of GSWO.

Level by level

Holdings105 in both10.8%
Countryby domicile27.9%
Asset classEquity100%

Sector

No Sector split for GSWO.

Country, concentration and asset class

Country by domicile

Country weights in DWMF and GSWO, widest gap first
Country	More in DWMFMore in GSWO	DWMF	GSWO
United States	GSWO +68.2 points	1.1%	69.3%
Japan	DWMF +16.1 points	24.6%	8.5%
United Kingdom	DWMF +13.4 points	16.5%	3.1%
Germany	DWMF +5.8 points	7.6%	1.8%
Italy	DWMF +5.3 points	6.1%	0.8%
Switzerland	DWMF +4.9 points	7.4%	2.5%
Sweden	DWMF +4.9 points	5.6%	0.7%
France	DWMF +4.6 points	6.0%	1.4%
Other countries (19)	DWMF +13.1 points	25.1%	12.0%

Outside the US: DWMF 99% developed, 1% emerging. GSWO 95% developed, 5% emerging.

Concentration

Weight in the 10 largest Holdings

DWMF13.4%
GSWO27.5%

Securities held

DWMF200
GSWO740

Asset class

DWMF: Equity
GSWO: Equity

Holdings

Only in DWMF95
In both105
Only in GSWO635

Only in DWMF

95 securities, 39.3% of DWMF by weight

InterContinental Hotels Group1.65%
Dufry AG1.52%
Swedish Orphan Biovitrum Ab0.66%
Aker Bp Asa0.60%
Keyence Corp0.60%
Phoenix Group Holdings Plc0.59%
Basf SE0.58%
Ipsen SA0.58%
Sse PLC0.58%
Yokogawa Electric Corp0.57%
Banca Monte Dei Paschi Siena0.56%
Ericsson Lm-B Shs0.53%
Veolia Environment0.53%
United Utilities Group PLC0.52%
BOC Hong Kong Holdings Ltd0.51%
Mediolanum SpA0.50%
Deutsche Post Ag-Reg0.50%
Asahi Kasei Corp0.49%
Commerzbank AG0.48%
Glencore PLC0.48%
Evonik Industries AG0.47%
SCREEN Holdings Co Ltd0.46%
Hulic Co Ltd0.46%
CK Asset Holdings Ltd0.45%
Amundi SA0.45%
Raiffeisen Bank International0.44%
ASM International NV0.44%
Bunzl PLC0.44%
Sandoz Group Ag0.43%
Toray Industries Inc0.43%
Japan Tobacco Inc0.43%
argenx SE0.43%
Concordia Financial Group Ltd0.42%
AP Moller-Maersk A/S-B0.42%
Volvo AB0.41%
Yangzijiang Shipbuilding Holdi0.40%
Eurofins Scientific0.40%
William Demant Holding0.39%
Otsuka Corp0.39%
Naturgy Energy Group SA0.39%
Nippon Paint Co Ltd0.39%
TDK Corp0.39%
Vestas Wind Systems A/S0.38%
DSM-Firmenich AG0.38%
ASR Nederland NV0.38%
T&D Holdings Inc0.37%
Kingspan Group Plc0.37%
Cheung Kong Infrastructure Hol0.37%
Logitech International-Reg0.37%
Lotus Bakeries0.37%

Only in GSWO

635 securities, 88.8% of GSWO by weight

NVIDIA Corporation5.65%
Apple Inc.5.62%
Microsoft Corporation4.24%
Amazon.com Inc2.60%
Alphabet Inc.1.85%
Broadcom Inc.1.76%
Alphabet Inc.1.60%
Meta Platforms Inc-Class A1.52%
Eli Lilly & Co1.35%
Tesla Inc.1.32%
Micron Technology, Inc.1.27%
JPMorgan Chase & Co1.02%
Advanced Micro Devices Inc.1.02%
Visa Inc.0.80%
Exxonmobil Holdings Corporation0.80%
Berkshire Hathaway Inc.0.77%
Johnson & Johnson0.74%
Walmart Inc0.66%
Mastercard Incorporated0.60%
AbbVie Inc.0.57%
Costco Wholesale Corporation0.50%
Cisco Systems, Inc.0.48%
Palantir Technologies Inc.0.46%
UnitedHealth Group Incorporated0.45%
Intel Corporation0.44%
Chevron Corporation0.44%
Lam Research Corporation0.41%
Coca-Cola Company (The)0.41%
Merck & Co., Inc.0.38%
Applied Materials Inc0.37%
The Home Depot, Inc.0.37%
The Procter & Gamble Company0.37%
Bank of America Corp0.36%
General Electric Company0.34%
Palo Alto Networks Inc.0.33%
Philip Morris Intl Inc0.32%
Caterpillar Inc (Delaware)0.32%
Kla Corp0.31%
Texas Instruments Inc.0.30%
Royal Bank of Canada0.29%
Wells Fargo & Company0.29%
Astrazeneca PLC Ord0.28%
Citigroup Inc.0.28%
Seagate Technology Holdin PLC0.28%
Rtx Corp0.27%
Toronto Dominion Bank0.27%
Ge Vernova Llc0.27%
Morgan Stanley0.26%
Netflix, Inc.0.26%
Intl Business Machines Corp0.25%

Weight gaps

The 100 widest of 105 Holdings in both funds.

Holding weights in DWMF and GSWO, widest gap first
Holding	More in DWMFMore in GSWO	DWMF	GSWO
ASML Holding NV	DWMF +1.37 points	2.12%	0.75%
Novartis AG	DWMF +1.28 points	1.62%	0.34%
HSBC Holdings PLCHSBA.L	DWMF +0.90 points	1.21%	0.31%
Shell Plc-NewSHEL.L	DWMF +0.89 points	1.17%	0.28%
Allianz SE	DWMF +0.80 points	0.97%	0.17%
GSK PlcGSK.L	DWMF +0.78 points	0.91%	0.13%
BHP Group Ltd	DWMF +0.78 points	0.97%	0.19%
TotalEnergies	DWMF +0.78 points	0.99%	0.21%
Advantest Corp	DWMF +0.75 points	1.07%	0.32%
Roche Holding Ag	DWMF +0.69 points	1.08%	0.39%
Repsol SA	DWMF +0.70 points	0.76%	0.06%
Siemens Ag-Reg	DWMF +0.68 points	0.86%	0.18%
ENI SpA	DWMF +0.66 points	0.72%	0.06%
Astellas Pharma Inc	DWMF +0.65 points	0.80%	0.15%
Equinor ASA	DWMF +0.64 points	0.74%	0.10%
Enel SpA	DWMF +0.62 points	0.69%	0.07%
UniCredit SpA	DWMF +0.61 points	0.72%	0.11%
Omv AG	DWMF +0.59 points	0.62%	0.03%
Banco Bilbao Vizcaya Argentaria SA	DWMF +0.59 points	0.77%	0.18%
Banco Santander Sa	DWMF +0.59 points	0.81%	0.22%
Mitsubishi UFJ Financial Group	DWMF +0.58 points	0.80%	0.22%
Rolls-Royce Holdings PLCRR.L	DWMF +0.58 points	0.69%	0.11%
Axa Sa	DWMF +0.57 points	0.65%	0.08%
MS&AD Insurance Group Holdings Inc	DWMF +0.56 points	0.63%	0.07%
ING Groep NV	DWMF +0.56 points	0.67%	0.11%
BNP Paribas	DWMF +0.55 points	0.64%	0.09%
Lloyds Banking Group PLCLLOY.L	DWMF +0.54 points	0.61%	0.07%
Tokyo Electron Ltd	DWMF +0.55 points	0.70%	0.15%
QBE Insurance Group Ltd	DWMF +0.53 points	0.58%	0.05%
Hitachi Ltd	DWMF +0.52 points	0.61%	0.09%
Tokio Marine Holdings Inc	DWMF +0.51 points	0.60%	0.09%
Tokyo Gas Co Ltd	DWMF +0.50 points	0.55%	0.05%
Vodafone Group PLCVOD.L	DWMF +0.50 points	0.59%	0.09%
Sompo Holdings Inc	DWMF +0.50 points	0.60%	0.10%
Novo Nordisk A/S-B	DWMF +0.50 points	0.63%	0.13%
Rio Tinto PlcRIO.L	DWMF +0.49 points	0.56%	0.07%
Svenska Handelsbanken-A Shs	DWMF +0.49 points	0.51%	0.02%
SITC International Holdings Co	DWMF +0.48 points	0.52%	0.04%
Barclays PLCBARC.L	DWMF +0.49 points	0.59%	0.10%
Endesa SA	DWMF +0.48 points	0.51%	0.03%
Recruit Holdings Co Ltd	DWMF +0.48 points	0.81%	0.33%
Bank Leumi Le-Israel BM	DWMF +0.49 points	0.53%	0.04%
Osaka Gas Co Ltd	DWMF +0.48 points	0.54%	0.06%
Daiwa Securities Group Inc	DWMF +0.48 points	0.51%	0.03%
Nordea Bank Abp	DWMF +0.49 points	0.54%	0.05%
Standard Chartered PLCSTAN.L	DWMF +0.48 points	0.57%	0.09%
BPER Banco Spa	DWMF +0.47 points	0.50%	0.03%
Swedbank AB	DWMF +0.47 points	0.52%	0.05%
Danske Bank A/S	DWMF +0.47 points	0.52%	0.05%
Takeda Pharmaceutical Co Ltd	DWMF +0.46 points	0.52%	0.06%
Natwest Group PlcNWG.L	DWMF +0.46 points	0.55%	0.09%
DBS Group Holdings Ltd	DWMF +0.45 points	0.58%	0.13%
Legal & General Group PLCLGEN.L	DWMF +0.45 points	0.52%	0.07%
Societe Generale	DWMF +0.44 points	0.51%	0.07%
Sumitomo Mitsui Financial Group	DWMF +0.43 points	0.61%	0.18%
Ageas	DWMF +0.44 points	0.48%	0.04%
Unipol Gruppo Finanziario SpA	DWMF +0.43 points	0.48%	0.05%
Galderma Group Ag	DWMF +0.43 points	0.45%	0.02%
Evolution Mining Ltd	DWMF +0.42 points	0.45%	0.03%
Itochu Corp	DWMF +0.42 points	0.47%	0.05%
Mizuho Financial Group Inc	DWMF +0.42 points	0.51%	0.09%
Siemens Energy Ag	DWMF +0.41 points	0.52%	0.11%
Mitsubishi Chemical Holdings Corp	DWMF +0.40 points	0.46%	0.06%
Infineon Technologies AG	DWMF +0.39 points	0.47%	0.08%
DNB Bank ASA	DWMF +0.39 points	0.42%	0.03%
Rio Tinto Ltd	DWMF +0.38 points	0.41%	0.03%
ORIX Corp	DWMF +0.38 points	0.43%	0.05%
Intesa Sanpaolo SpA	DWMF +0.37 points	0.47%	0.10%
Harel Insurance Investments &	DWMF +0.36 points	0.41%	0.05%
Boliden Ab Red Shs	DWMF +0.37 points	0.43%	0.06%
Singapore Exchange Ltd	DWMF +0.36 points	0.42%	0.06%
Credit Agricole SA	DWMF +0.36 points	0.39%	0.03%
Techtronic Industries Co	DWMF +0.35 points	0.45%	0.10%
Sumitomo Corp	DWMF +0.35 points	0.43%	0.08%
Otsuka Holdings Co Ltd	DWMF +0.34 points	0.44%	0.10%
Assicurazioni Generali SpA	DWMF +0.35 points	0.38%	0.03%
Swire Pacific Ltd	DWMF +0.33 points	0.39%	0.06%
Daimler Truck Holding Ag	DWMF +0.33 points	0.36%	0.03%
Toyota Tsusho Corp	DWMF +0.33 points	0.40%	0.07%
Ly Corp	DWMF +0.31 points	0.35%	0.04%
Bayer AG	DWMF +0.32 points	0.41%	0.09%
Sandvik AB	DWMF +0.31 points	0.37%	0.06%
KDDI Corp	DWMF +0.31 points	0.39%	0.08%
Orion Oyj	DWMF +0.30 points	0.43%	0.13%
Kioxia Holdings Corp	DWMF +0.30 points	0.43%	0.13%
Nomura Holdings Inc	DWMF +0.30 points	0.35%	0.05%
Sage Group PLC/TheSGE.L	DWMF +0.30 points	0.40%	0.10%
Banco Comercial Portugues SA	DWMF +0.29 points	0.32%	0.03%
Deutsche Bank AG	DWMF +0.30 points	0.38%	0.08%
Cheung Kong Holdings Ltd	DWMF +0.30 points	0.36%	0.06%
Admiral Group PLCADM.L	DWMF +0.29 points	0.38%	0.09%
Hoya Corp	DWMF +0.29 points	0.44%	0.15%
NEC Corp	DWMF +0.29 points	0.34%	0.05%
Next PLCNXT.L	DWMF +0.29 points	0.41%	0.12%
Heineken Holding NV	DWMF +0.27 points	0.32%	0.05%
Fisher & Paykel Healthcare Corp	DWMF +0.28 points	0.37%	0.09%
Sumitomo Mitsui Trust Holdings	DWMF +0.27 points	0.32%	0.05%
Ryohin Keikaku Co Ltd	DWMF +0.26 points	0.38%	0.12%
Kuehne + Nagel International AG	DWMF +0.25 points	0.38%	0.13%
Knorr-Bremse AG	DWMF +0.24 points	0.28%	0.04%

All 224 DWMF holdings⁠All 741 GSWO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DWMF vs GSWO Cost

Overpaying DWMF vs GSWO

$4,569

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DWMF 0.38%
$7,706
GSWO 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

DWMF 0.38%
GSWO 0.15%
Overpaying

Year by year

Year	DWMF	GSWO	Overpaying
10	$688	$274	$414
20	$2,658	$1,071	$1,587
30	$7,706	$3,137	$4,569

Expense ratio

0.38%DWMF
0.15%GSWO, cheaper

GSWO0.15%DWMF0.38%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

GSWO cheapest of 30 funds

DWMF 19th cheapest of 30 funds

DWMF vs GSWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DWMF 2.99%, better; GSWO 1.46%
Payout (12M): DWMF $0.98; GSWO $0.93
Last payment: DWMF $0.12; GSWO $0.20
Ex-dividend: DWMF Sep 25, 2026; GSWO Sep 24, 2026
Paid on: DWMF Sep 29, 2026; GSWO Sep 30, 2026
Frequency: DWMF Quarterly; GSWO Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

DWMFQuarterly · 33 paymentsAll DWMF payments⁠

GSWOQuarterly · 18 paymentsAll GSWO payments⁠

DWMF vs GSWO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DWMF 8.6%GSWO No data
Return per unit of riskSharpe ratio, 3 years: DWMF 1.06GSWO No data
Worst fallMax drawdown, 5 years: DWMF −16.6%GSWO No data
Market sensitivityBeta, 5 years: DWMF 0.49GSWO 0.75; Market = 1

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