FDEV vs GSIE: Grades, Fees and Holdings Compared

Fidelity International Multifactor ETF

FDEVACboe

Goldman Sachs ActiveBeta International Equity ETF

GSIEBNYSE Arca

Overlap

30.3%by weight

Expense ratio

FDEV −0.07pt a year

FDEV0.18%GSIE0.25%

Avg volume · 30D

GSIE 14.7×the volume

FDEV28.1KGSIE413K

5Y return · a year

GSIE +0.5pt

FDEV+7.6%GSIE+8.1%

FDEV vs GSIE Performance

Nov 5, 2021 – Nov 5, 2026

+44.4%FDEV+47.9%GSIE

Expense ratio: FDEV 0.18%, better; GSIE 0.25%
Fund size: FDEV $284M; GSIE $6.02B
1Y total return: FDEV +17.2%, better; GSIE +14.7%
Yield (12M): FDEV 3.26%, better; GSIE 2.63%
Holdings: FDEV 212; GSIE 641
Avg volume (30D): FDEV 28.1K sh; GSIE 413K sh, better
NAV per share: FDEV $37.75; GSIE $46.77
52W range

ETF.net Grade

Pillar letters and Scores for FDEV, GSIE, with each pillar’s weight
Pillar	FDEV	GSIE
Cost30% weight	A91Higher	A74
Mission25% weight	Not scored	Not scored
Risk15% weight	A74Higher	C51
Tradability15% weight	B56	B63Higher
Holdings10% weight	C47	A75Higher
Durability5% weight	C42	A80Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. FDEV and GSIE 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 ›

FDEV ranks 4th and GSIE 7th of 30 funds in the International Multifactor Category.

Rank 1AGSWOGoldman Sachs ActiveBeta World Equity ETFScore 79
Rank 2ADFAIDimensional International Core Equity Market ETFScore 78
Rank 2AINTFiShares International Equity Factor ETFScore 78
Rank 4AFDEVFidelity International Multifactor ETFScore 71
Rank 4ARODMHartford Multifactor Developed Markets (ex-US) ETFScore 71
Rank 6BGLOFiShares Global Equity Factor ETFScore 68
Rank 7BGSIEGoldman Sachs ActiveBeta International Equity ETFScore 67
Rank 8BISCFiShares International Small-Cap Equity Factor ETFScore 66

Our read on each fund

ETF.net Research

FDEVAFidelity International Multifactor ETF

GSIEBGoldman Sachs ActiveBeta International Equity ETF

In short

FDEV Four factors (value, quality, momentum, low volatility) blended into one developed-markets index fund at 0.18% a year. Fidelity's answer to paying up for a single-factor tilt overseas.

GSIE Goldman'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.

Stated mandate

FDEV The fund seeks returns generally corresponding to the Fidelity International Multifactor Index before fees and expenses.

GSIE 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

FDEV 0.18% a year, less than half the typical fee in its international multifactor group, and within a rounding error of the cheapest name there (INTF at 0.16%).
One index does the work of four screens: value, quality, momentum and low volatility applied together, instead of you stacking separate single-factor funds.
Roughly 220 developed-market stocks outside the US, picked by published index rules rather than a manager's hunches, with cash paid out quarterly.
Sits in the top quartile of a 29-fund international factor cohort, which is a crowded field full of far pricier attempts at the same job.

GSIE 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.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.gs.com
A multi-billion-dollar fund and one of the more liquid ways into the international factor trade.

Worth knowing

FDEV Thinly traded. Spreads can quietly cost more than the fee, so limit orders matter more here than with the category's household names.
A 2019 launch still in the mid-size asset range, so there is no decades-long record to lean on the way older international index funds offer.
Blending four factors means none of them drives the bus. When value or momentum alone runs hot, this owns only a slice of that move.

GSIE 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.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

Full FDEV profile⁠

Full GSIE profile⁠

FDEV vs GSIE Holdings

How FDEV and GSIE differ

Overlap by weight

30.3%

Shared holdings make up 78.5% of FDEV and 31.9% of GSIE.

Level by level

Holdings140 in both30.3%
Sector11 Sectors79.1%
Countryby domicile84.5%
Asset classStocks100%

Sector

Sector weights in FDEV and GSIE, widest gap first
Sector	Gap	FDEV	GSIE
Energy	FDEV +6.3 points	11.5%	5.2%
Real Estate	FDEV +5.3 points	6.4%	1.1%
Consumer Discretionary	GSIE +5.1 points	3.5%	8.6%
Communication	FDEV +4.9 points	8.5%	3.6%
Financials	GSIE +4.2 points	24.0%	28.2%
Technology	GSIE +4.1 points	6.2%	10.3%
Health Care	FDEV +3.7 points	13.3%	9.6%
Utilities	GSIE +3.4 points	0.0%	3.4%
Industrials	GSIE +2.7 points	14.5%	17.2%
Materials	GSIE +1.5 points	3.7%	5.2%
Consumer Staples	FDEV +0.7 points	8.3%	7.6%

Country, concentration and asset class

Country by domicile

Country weights in FDEV and GSIE, widest gap first
Country	Gap	FDEV	GSIE
Germany	GSIE +4.2 points	3.6%	7.8%
United Kingdom	FDEV +4.0 points	15.5%	11.5%
Switzerland	GSIE +3.8 points	5.0%	8.8%
Canada	FDEV +3.1 points	14.9%	11.8%
Norway	FDEV +1.9 points	2.7%	0.8%
Hong Kong	GSIE +1.7 points	0.5%	2.2%
Belgium	FDEV +1.7 points	2.5%	0.8%
Italy	GSIE +1.6 points	1.6%	3.2%
Other countries (17)	FDEV +0.6 points	53.7%	53.1%

Outside the US: FDEV 97% developed, 3% emerging. GSIE 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

FDEV15.5%
GSIE10.6%

Securities held

FDEV198
GSIE631

Asset class

FDEV: Stocks
GSIE: Stocks

Holdings

Only in FDEV58
In both140
Only in GSIE491

Only in FDEV

58 securities, 21.1% of FDEV by weight

Firstservice Corp1.35%
Nexon Co Ltd1.14%
Rightmove PLC1.13%
Autotrader Group PLC1.06%
Quebecor Inc Class B Sub Vtg0.98%
Ono Pharmaceutical Co Ltd0.85%
Toyo Suisan Kaisha Ltd0.85%
Ucb SA0.64%
Gaztransport Et Techniga0.57%
Thomson Reuters Corp0.56%
Finning International Inc0.47%
Challenger Ltd0.41%
Nordex SE0.40%
Ackermans & Van Haaren SA0.37%
Daishi Hokuetsu Financial Grou0.36%
Hachijuni Nagano Bank Ltd0.36%
Hirogin Holdings Inc0.35%
Hokuhoku Financial Group Inc0.35%
Seventy Seventh Bank0.35%
Mebuki Financial Group Inc0.35%
Sanwa Holdings Corp0.34%
Technology One Limited0.34%
Sekisui Chemical Co Ltd0.33%
Tisi Inc0.32%
First Intl Bk of Israel Ltd0.31%
Unicaja Banco0.30%
Ricoh Co Ltd0.30%
Sojitz Corporation0.30%
Dassault Aviation SA0.30%
Balfour Beatty PLC0.30%
Brother Industries0.29%
Imi PLC Ord0.29%
Kinden Corporation0.26%
Securities Lending Cf0.26%
Games Workshop Group Co PLC0.25%
Mcdonalds Holdings Co(Japan)0.25%
Evolution Ab0.25%
Nissan Chemical Corp0.24%
Citizen Watch Co Ltd0.23%
J Front Retailing Co Ltd0.23%
Lottomatica Group Spa0.23%
Tokyo Seimitsu Co Ltd0.23%
Oji Holdings Corp0.23%
Yamaha Corp0.22%
Uss Co Ltd0.22%
Swatch Group AG (Br)0.21%
Niterra Co Ltd0.19%
Oceanagold Cor0.15%
Ig Group Hldgs PLC0.15%
Dpm Metals Inc0.14%

Only in GSIE

491 securities, 68.0% of GSIE by weight

Advantest Corp0.96%
Recruit Holdings Co., Ltd.0.78%
Allianz SE0.65%
Nestle S.a.0.60%
Sap SE0.59%
Banco Bilbao Vizcaya0.57%
Mitsubishi Ufj Financial Group0.55%
Siemens AG Reg Shs0.54%
Bank of Nova Scotia (The)0.48%
Dhl Group0.48%
Kingfisher PLC0.47%
Tokyo Electron Ltd0.47%
Ince/Icus Msci Eafe 12/20260.46%
Bayer Aktiengesellschaft0.45%
Iberdrola Sociedad Anonima0.43%
Dbs Group Holdings Ltd0.43%
Bp PLC0.42%
Bank of Montreal0.41%
L'oreal0.41%
Magna International Inc.0.40%
Ubs Group AG0.40%
Deutsche Bank Reg Shs0.40%
Commonwealth Bank of Australia0.38%
Unicredit, Societa' Per Azioni0.38%
Ing Groep N.v.0.38%
Zalando SE0.36%
Woolworths Group Limited0.36%
Barclays PLC0.36%
Constellation Software Inc0.35%
Idemitsu Kosan Co.,ltd.0.35%
Mitsubishi Chemical Group Corporation0.35%
Shiseido Co., Ltd.0.34%
Axa0.34%
Mitsubishi Corp.0.33%
Empire Co Ltd Cl-A0.33%
Kuehne & Nagel Intl AG0.32%
Legal & General Group Ord0.32%
Hitachi, Ltd.0.32%
Nn Group N.v.0.32%
Heineken Holding N.v.0.31%
Intesa Sanpaolo0.31%
Eneos Holdings, Inc.0.31%
Enbridge Inc.0.31%
Hoya Corp0.30%
Rational AG0.30%
Sage Group Plc. (The)0.30%
Schneider Electric0.30%
Wesfarmers Limited0.30%
Cvc Capital Partners PLC0.29%
Admiral Group PLC0.29%

Weight gaps

The 100 widest of 140 Holdings in both funds.

Holding weights in FDEV and GSIE, widest gap first
Holding	Gap	FDEV	GSIE
Daito Trust Construction	FDEV +1.80 points	1.83%	0.03%
Hongkong Land Hldgs Ltd	FDEV +1.63 points	1.65%	0.02%
Klepierre SA	FDEV +1.53 points	1.58%	0.04%
Unilever PLC OrdULVR.L	FDEV +1.13 points	1.31%	0.18%
Kddi Corp	FDEV +1.07 points	1.12%	0.05%
Canadian Natl Resources Ltd	FDEV +1.05 points	1.18%	0.13%
Anheuser-Busch Inbev Sa/Nv	FDEV +1.02 points	1.15%	0.13%
Kpn (Kon) NV	FDEV +0.97 points	1.04%	0.07%
Shell PLCSHEL.L	FDEV +0.95 points	1.71%	0.76%
Carlsberg As Class B	FDEV +0.89 points	0.94%	0.05%
Ly Corporation	FDEV +0.90 points	1.08%	0.18%
Japan Tobacco Inc	FDEV +0.89 points	1.00%	0.11%
Reckitt Benckiser Group PLCRKT.L	FDEV +0.89 points	0.97%	0.08%
Loblaw Cos Ltd	FDEV +0.88 points	1.19%	0.31%
Totalenergies SE	FDEV +0.87 points	1.32%	0.45%
Suncor Energy Inc	FDEV +0.87 points	1.18%	0.31%
Essity Ab B	FDEV +0.86 points	0.91%	0.05%
Inpex Corp	FDEV +0.85 points	0.97%	0.12%
Imperial Brands PLCIMB.L	FDEV +0.85 points	0.91%	0.06%
Shionogi & Co Ltd	FDEV +0.84 points	0.93%	0.09%
Orkla Asa	FDEV +0.82 points	0.87%	0.05%
Whitecap Resources Inc	FDEV +0.79 points	0.85%	0.06%
Cenovus Energy Inc	FDEV +0.75 points	0.88%	0.13%
Equinor Asa	FDEV +0.71 points	0.80%	0.09%
Astrazeneca PLC (Uk)AZN.L	FDEV +0.68 points	1.54%	0.86%
Vodafone Group PLCVOD.L	FDEV +0.67 points	1.05%	0.38%
Var Energi As	FDEV +0.67 points	0.72%	0.05%
Sanofi	FDEV +0.67 points	0.82%	0.15%
Repsol SA	FDEV +0.66 points	0.81%	0.15%
Asml Holding NV	GSIE +0.66 points	1.32%	1.98%
Roche Holding AG	FDEV +0.57 points	1.72%	1.15%
Koninklijke Ahold Delhaize NV	FDEV +0.50 points	0.96%	0.46%
Novo-Nordisk As Class B	FDEV +0.49 points	0.88%	0.39%
Itochu Corp	FDEV +0.47 points	0.63%	0.16%
Macquarie Group Ltd	FDEV +0.46 points	0.49%	0.03%
Smith & Nephew PLCSN.L	FDEV +0.45 points	0.50%	0.05%
Novartis AG (Reg)	FDEV +0.45 points	1.52%	1.07%
Mitsui & Co Ltd	FDEV +0.44 points	0.57%	0.13%
Swedish Orphan Biovitrum Ab	FDEV +0.42 points	0.48%	0.06%
Fisher & Paykel Health (Nz)	FDEV +0.41 points	0.67%	0.26%
Haleon PLCHLN.L	FDEV +0.41 points	0.52%	0.11%
Hannover Rueckversicherungs SE	FDEV +0.40 points	0.42%	0.02%
Kone Oyj B	FDEV +0.39 points	0.46%	0.07%
Merck Kgaa	FDEV +0.39 points	0.50%	0.11%
Gsk PLCGSK.L	FDEV +0.39 points	0.78%	0.39%
Wolters Kluwer NV	FDEV +0.38 points	0.52%	0.14%
Relx PLCREL.L	FDEV +0.36 points	0.54%	0.18%
Obic Co Ltd	FDEV +0.35 points	0.39%	0.04%
Bper Banca Spa	FDEV +0.35 points	0.44%	0.09%
Bank Hapoalim Ltd (Reg)	FDEV +0.33 points	0.38%	0.05%
Bank Leumi Le-Israel Bm	FDEV +0.33 points	0.40%	0.07%
Washington H Soul Pattinson &	FDEV +0.31 points	0.36%	0.05%
Mizrahi Tefahot Bank Ltd	FDEV +0.31 points	0.33%	0.02%
Banco Bpm Spa	FDEV +0.30 points	0.39%	0.09%
Kajima Corp	FDEV +0.30 points	0.32%	0.02%
Medibank Private Limited	FDEV +0.30 points	0.35%	0.05%
Atlas Copco Ab Ser A	FDEV +0.29 points	0.37%	0.08%
Daiwa Securities Group Inc	FDEV +0.29 points	0.38%	0.09%
Oversea-Chinese Bkg Corp Ltd	FDEV +0.28 points	0.58%	0.30%
Sumitomo Mitsui Tr Group Inc	FDEV +0.29 points	0.44%	0.15%
Aib Group PLC	FDEV +0.28 points	0.41%	0.13%
Israel Discount Bank Ltd Class A	FDEV +0.28 points	0.34%	0.07%
MS&AD Insurance Grp Hldgs Inc	FDEV +0.28 points	0.51%	0.23%
Gea Group AG	FDEV +0.27 points	0.44%	0.17%
Talanx Aktiengesellschaft	FDEV +0.27 points	0.38%	0.11%
Caixabank SA	FDEV +0.26 points	0.44%	0.18%
Secom Co Ltd	FDEV +0.26 points	0.36%	0.10%
Boc Hong Kong Holdings Ltd	FDEV +0.25 points	0.40%	0.15%
Assa Abloy Ab Ser B	FDEV +0.25 points	0.32%	0.07%
Cgi Inc Class A Sub Vtg	FDEV +0.24 points	0.41%	0.17%
Nordea Bank Abp	FDEV +0.24 points	0.48%	0.24%
Orion Oyj (New) B	FDEV +0.23 points	0.55%	0.32%
Hochtief AG	FDEV +0.23 points	0.32%	0.09%
Poste Italiane Spa	FDEV +0.22 points	0.40%	0.18%
Abn Amro Bank Nv-Cva	FDEV +0.22 points	0.40%	0.18%
Dollarama Inc	FDEV +0.22 points	0.25%	0.03%
Getlink SE	FDEV +0.22 points	0.34%	0.12%
Dai Nippon Printing Co Ltd	FDEV +0.22 points	0.31%	0.09%
Subaru Corp	FDEV +0.22 points	0.26%	0.04%
Sandvik Ab	FDEV +0.21 points	0.29%	0.09%
Vinci SA	FDEV +0.20 points	0.43%	0.23%
Knorr-Bremse AG	FDEV +0.20 points	0.36%	0.16%
Qbe Insurance Group Ltd	FDEV +0.19 points	0.43%	0.24%
Rexel SA	FDEV +0.19 points	0.29%	0.10%
Restaurant Brands Intrntnl Inc	FDEV +0.19 points	0.21%	0.02%
Ipsen Promesses	FDEV +0.18 points	0.41%	0.23%
Bnp Paribas (Fran)	FDEV +0.17 points	0.56%	0.39%
Toyota Tsusho Corp	FDEV +0.17 points	0.35%	0.18%
Canon Inc	FDEV +0.17 points	0.33%	0.16%
Agnico Eagle Mines Ltd (Cana)	FDEV +0.17 points	0.32%	0.15%
Prudential PLCPRU.L	FDEV +0.17 points	0.27%	0.10%
Industrivarden Ab Ser A	FDEV +0.16 points	0.34%	0.18%
Manulife Financial Corp (Cana)	FDEV +0.17 points	0.40%	0.23%
Lundin Gold Inc	GSIE +0.15 points	0.16%	0.31%
Ageas Sa/Nv	FDEV +0.15 points	0.36%	0.21%
Smiths Group PLCSMIN.L	FDEV +0.15 points	0.32%	0.17%
Raiffeisen Bank Interntnl AG	FDEV +0.14 points	0.31%	0.17%
Fresenius Medical Care AG	FDEV +0.13 points	0.43%	0.30%
Capgemini SA (FF40)	GSIE +0.13 points	0.17%	0.30%
Sumitomo Corp	FDEV +0.12 points	0.43%	0.31%

All 218 FDEV holdings⁠All 631 GSIE 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.

FDEV vs GSIE Cost

Overpaying GSIE vs FDEV

$1,410

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

FDEV 0.18%
$3,749
GSIE 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

FDEV 0.18%
GSIE 0.25%
Overpaying

Year by year

Year	FDEV	GSIE	Overpaying
10	$328	$455	$127
20	$1,281	$1,769	$488
30	$3,749	$5,159	$1,410

Expense ratio

0.18%FDEV, cheaper
0.25%GSIE

FDEV0.18%GSIE0.25%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

FDEV 3rd cheapest of 30 funds

GSIE 8th cheapest of 30 funds

FDEV vs GSIE Dividends

Last 12 months to Nov 5, 2026

Yield (12M): FDEV 3.26%, better; GSIE 2.63%
Payout (12M): FDEV $1.22; GSIE $1.21
Last payment: FDEV $0.33; GSIE $0.26
Ex-dividend: FDEV Sep 18, 2026; GSIE Sep 24, 2026
Paid on: FDEV Sep 22, 2026; GSIE Sep 30, 2026
Frequency: FDEV Quarterly; GSIE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FDEVQuarterly · 31 paymentsAll FDEV payments⁠

GSIEQuarterly · 40 paymentsAll GSIE payments⁠

FDEV vs GSIE Risk

Fall from peak · 5 years

FDEV
GSIE

Risk facts

VolatilityStd dev, 3 years: FDEV 10.5%, betterGSIE 11.2%
Return per unit of riskSharpe ratio, 3 years: FDEV 1.31GSIE 1.31
Worst fallMax drawdown, 5 years: FDEV −27.9%, betterGSIE −29.6%
Market sensitivityBeta, 5 years: FDEV 0.65GSIE 0.87; Market = 1

Popular comparisons

FDEVAvsGSWOA
Fidelity International Multifactor ETF · Goldman Sachs ActiveBeta World Equity ETF
Expense ratio
0.18% · 0.15%
Category
GSIEBvsGSWOA
Goldman Sachs ActiveBeta International Equity ETF · Goldman Sachs ActiveBeta World Equity ETF
Expense ratio
0.25% · 0.15%
Category
FDEVAvsDFAIA
Fidelity International Multifactor ETF · Dimensional International Core Equity Market ETF
Expense ratio
0.18% · 0.18%
Category
GSIEBvsDFAIA
Goldman Sachs ActiveBeta International Equity ETF · Dimensional International Core Equity Market ETF
Expense ratio
0.25% · 0.18%
Category
FDEVAvsINTFA
Fidelity International Multifactor ETF · iShares International Equity Factor ETF
Expense ratio
0.18% · 0.16%
Category
GSIEBvsINTFA
Goldman Sachs ActiveBeta International Equity ETF · iShares International Equity Factor ETF
Expense ratio
0.25% · 0.16%
Category