GLOF vs GSWO: Grades, Fees and Holdings Compared

iShares Global Equity Factor ETF

GLOFBNYSE Arca

Goldman Sachs ActiveBeta World Equity ETF

GSWOACboe

Overlap

53.8%by weight

Expense ratio

GSWO −0.05pt a year

GLOF0.20%GSWO0.15%

Avg volume · 30D

GSWO 2.7×the volume

GLOF23.6KGSWO64K

GLOF vs GSWO Performance

Jul 31, 2026 – Oct 30, 2026

+0.3%GLOF+0.5%GSWO

Expense ratio: GLOF 0.20%; GSWO 0.15%, better
Fund size: GLOF $202M; GSWO $1.79B
1Y total return: GLOF +14.5%; GSWO No data
Yield (12M): GLOF 1.57%, better; GSWO 1.46%
Holdings: GLOF 683; GSWO 751
Avg volume (30D): GLOF 23.6K sh; GSWO 64K sh, better
NAV per share: GLOF $59.28; GSWO $64.95
52W range

ETF.net Grade

Pillar letters and Scores for GLOF, GSWO, with each pillar’s weight
Pillar	GLOF	GSWO
Cost30% weight	A86	A98Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B55	B67Higher
Tradability15% weight	A71	A86Higher
Holdings10% weight	D33Higher	F22
Durability5% weight	B60	B62Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. GLOF 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 GLOF 7th 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 6BISCFiShares International Small-Cap Equity Factor ETFScore 69
Rank 7BGLOFiShares Global Equity Factor ETFScore 67
Rank 7BGSIEGoldman Sachs ActiveBeta International Equity ETFScore 67

Our read on each fund

ETF.net Research

GLOFBiShares Global Equity Factor ETF

GSWOAGoldman Sachs ActiveBeta World Equity ETF

In short

GLOF Most factor funds in this corner stop at the US border. GLOF doesn't: one fund, roughly 700 large- and mid-cap stocks across developed and emerging markets, weighted toward value, quality, momentum, low volatility and smaller size.

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

GLOF The fund seeks to track an index of large- and mid-capitalization developed- and emerging-market stocks selected for favorable exposure to target style factors, subject to constraints.

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

GLOF Whole-world coverage in one wrapper: US, developed and emerging markets, roughly 700 large- and mid-cap names, for 0.20% a year.blackrock.com
That 0.20% fee sits well under the multifactor cohort median of 0.38%, and undercuts ex-US peers such as GSIE (0.25%) and RODM (0.29%).
An optimizer, not a simple screen: the STOXX Global Equity Factor Index chases five factor exposures while keeping market risk close to the broad parent index.blackrock.com
Live since 2015 and run by BlackRock's iShares desk, it stands among the stronger packages in its multifactor peer group.

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

GLOF Trading is light next to mainstream global index funds, so bid-ask spreads can run wider than the headline fee suggests.
The engine changed in March 2023, from an MSCI multi-factor index to the STOXX one, so the older track record reflects a different recipe.blackrock.com
Factor tilts move on their own cycle and can diverge from a plain cap-weighted global index. Cash comes once or twice a year, not quarterly.

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 GLOF profile⁠

Full GSWO profile⁠

GLOF vs GSWO Holdings

How GLOF and GSWO differ

Overlap by weight

53.8%

Shared holdings make up 74.9% of GLOF and 71.5% of GSWO.

Level by level

Holdings307 in both53.8%
Countryby domicile87.5%
Asset classEquity100%

Sector

No Sector split for GSWO.

Country, concentration and asset class

Country by domicile

Country weights in GLOF and GSWO, widest gap first
Country	More in GLOFMore in GSWO	GLOF	GSWO
Taiwan	GLOF +3.7 points	3.7%	0.0%
China	GLOF +2.9 points	3.1%	0.2%
South Korea	GLOF +2.8 points	2.8%	0.0%
United States	GSWO +2.3 points	67.0%	69.3%
Germany	GSWO +1.8 points	0.0%	1.8%
France	GSWO +1.4 points	0.0%	1.4%
India	GLOF +1.4 points	1.4%	0.0%
Japan	GSWO +1.3 points	7.2%	8.5%
Other countries (22)	GSWO +3.9 points	14.9%	18.8%

Outside the US: GLOF 67% developed, 33% emerging. GSWO 95% developed, 5% emerging.

Concentration

Weight in the 10 largest Holdings

GLOF24.4%
GSWO27.5%

Securities held

GLOF652
GSWO740

Asset class

GLOF: Equity
GSWO: Equity

Holdings

Only in GLOF345
In both307
Only in GSWO433

Only in GLOF

345 securities, 24.7% of GLOF by weight

Taiwan Semiconductor Manufacturing1.53%
Samsung Electronics Ltd0.64%
Sk Hynix0.49%
Aercap Holdings0.40%
Atlassian Corp Class A0.33%
Best Buy0.32%
Msci0.30%
Space Exploration Technologies Cor0.29%
China Construction Bank Corp H0.29%
Illumina Inc0.28%
Ge Healthcare Technologies0.28%
Spotify Technology0.26%
Johnson Controls International PLC0.24%
Mediatek0.24%
Sk Square0.24%
Coca Cola Hbc AG0.23%
Hydro One0.23%
Thomson Reuters Corp0.22%
Linde PLC0.22%
Reinsurance Group of America0.21%
Eaton PLC0.20%
Novatek Microelectronics0.20%
Yangzijiang Shipbuilding (Holdings0.19%
Technipfmc PLC0.18%
Verisk Analytics0.17%
Centrica PLC0.17%
Samsung Electronics Non Voting Pre0.17%
Masco0.16%
Taiwan Cooperative Financial Holdi0.16%
Subaru0.16%
Hindustan Aeronautics Ltd0.16%
Bmw0.16%
Unibail Rodamco We Stapled Units0.15%
Shell0.15%
Leidos Holdings0.15%
Hyundai Mobis Ltd0.15%
King Slide Works0.15%
Industrial and Commercial Bank of0.14%
Emirates Nbd0.14%
Goldman Sachs Group0.14%
Nutrien Ltd0.14%
Hachijuni Nagano Bank0.13%
Pdd Holdings Ads0.13%
Cf Industries Holdings Inc0.13%
Snam0.13%
Infosys0.12%
International Games System Ltd0.12%
Accton Technology0.12%
Realtek Semiconductor0.12%
Isetan Mitsukoshi Holdings0.12%

Only in GSWO

433 securities, 28.1% of GSWO by weight

Palo Alto Networks Inc.0.33%
Texas Instruments Inc.0.30%
Citigroup Inc.0.28%
Shell PLC0.28%
Toronto Dominion Bank0.27%
Banco Santander, S.a.0.22%
Nestle S.a.0.20%
Linde PLC0.19%
Sap SE0.18%
Dhl Group0.18%
Siemens AG Reg Shs0.18%
Allianz SE0.17%
Elevance Health Inc0.17%
The Progressive Corporation0.17%
Fastenal Company0.16%
Colgate-Palmolive Co0.16%
Industria De Diseno Textil, S.a.0.16%
Walt Disney Company (The)0.15%
Charles Schwab Corporation0.15%
Lockheed Martin Corporation0.15%
Astellas Pharma Inc.0.15%
Chubb Limited0.14%
Lasertec Corp0.14%
Groupe Wsp Global Inc.0.14%
Constellation Software Inc0.14%
Als Limited0.14%
Accenture PLC0.14%
L'oreal0.14%
Kuehne & Nagel Intl AG0.13%
Welltower, Inc.0.13%
Orion Oyj0.13%
Vertex Pharmaceuticals Incorporated0.13%
International Consolidated-Adr0.13%
Bank of Montreal0.13%
Shopify Inc.0.13%
Adidas AG0.12%
Intuitive Surgical, Inc.0.12%
Monster Beverage Corporation0.12%
Canadian Imperial Bank of0.12%
Food & Life Cos Ltd0.12%
Baycurrent, Inc.0.12%
Kingfisher PLC0.12%
Eaton Corp PLC0.12%
Nextera Energy, Inc.0.12%
Cochlear Limited0.12%
Partners Group Holding AG0.12%
Sysco Corporation0.12%
United Parcel Service, Inc.0.12%
Jeronimo Martins Estab0.11%
Sgs SA0.11%

Weight gaps

The 100 widest of 307 Holdings in both funds.

Holding weights in GLOF and GSWO, widest gap first
Holding	More in GLOFMore in GSWO	GLOF	GSWO
Alphabet Class AGOOGL	GSWO +1.84 points	0.01%	1.85%
Alphabet Class CGOOG	GLOF +1.19 points	2.79%	1.60%
NVIDIANVDA	GSWO +0.98 points	4.67%	5.65%
AppleAAPL	GSWO +0.79 points	4.83%	5.62%
Novartis AG	GLOF +0.72 points	1.06%	0.34%
MicrosoftMSFT	GSWO +0.59 points	3.65%	4.24%
Berkshire Hathaway Inc Class BBRK.B	GSWO +0.57 points	0.20%	0.77%
Tesla IncTSLA	GSWO +0.53 points	0.79%	1.32%
Mckesson CorpMCK	GLOF +0.52 points	0.61%	0.09%
Amazon.com IncAMZN	GSWO +0.50 points	2.10%	2.60%
Bank of New York Mellon CorpBNY	GLOF +0.49 points	0.63%	0.14%
General MotorsGM	GLOF +0.47 points	0.55%	0.08%
Intel CorporationINTC	GSWO +0.44 points	<0.01%	0.44%
Advanced Micro DevicesAMD	GSWO +0.44 points	0.58%	1.02%
Micron TechnologyMU	GSWO +0.41 points	0.86%	1.27%
EbayEBAY	GLOF +0.40 points	0.52%	0.12%
Repsol	GLOF +0.40 points	0.46%	0.06%
ChevronCVX	GSWO +0.38 points	0.06%	0.44%
Exxonmobil Holdings CorpXOM	GSWO +0.37 points	0.43%	0.80%
Aib Group PLC	GLOF +0.36 points	0.41%	0.05%
Unicredit	GLOF +0.36 points	0.47%	0.11%
Rio Tinto	GLOF +0.35 points	0.38%	0.03%
Abb Ltd	GLOF +0.35 points	0.49%	0.14%
Investor Class B	GLOF +0.34 points	0.44%	0.10%
Meta Platforms Class AMETA	GSWO +0.34 points	1.18%	1.52%
Synchrony FinancialSYF	GLOF +0.34 points	0.41%	0.07%
Marathon PetroleumMPC	GLOF +0.34 points	0.52%	0.18%
Expedia GroupEXPE	GLOF +0.34 points	0.45%	0.11%
Eli LillyLLY	GSWO +0.33 points	1.02%	1.35%
Te Connectivity PLCTEL	GLOF +0.32 points	0.38%	0.06%
Asics	GLOF +0.31 points	0.42%	0.10%
Loblaw Companies Ltd	GLOF +0.31 points	0.40%	0.09%
Booking HoldingsBKNG	GLOF +0.30 points	0.49%	0.19%
UnitedHealth GroupUNH	GSWO +0.29 points	0.16%	0.45%
Mizuho Financial Group	GLOF +0.29 points	0.38%	0.09%
Trane Technologies PLCTT	GLOF +0.28 points	0.37%	0.09%
Altria Group IncMO	GLOF +0.28 points	0.43%	0.15%
Royal Bank of Canada	GSWO +0.27 points	0.02%	0.29%
AbbVieABBV	GLOF +0.26 points	0.83%	0.57%
NetflixNFLX	GSWO +0.26 points	<0.01%	0.26%
AutodeskADSK	GLOF +0.25 points	0.34%	0.09%
Engie SA	GLOF +0.24 points	0.28%	0.04%
Mettler ToledoMTD	GLOF +0.24 points	0.36%	0.12%
Philip Morris InternationalPM	GSWO +0.24 points	0.08%	0.32%
KrogerKR	GLOF +0.23 points	0.36%	0.13%
Bae Systems PLCBA.L	GLOF +0.23 points	0.27%	0.04%
Manulife Financial	GLOF +0.23 points	0.28%	0.05%
Bristol Myers SquibbBMY	GLOF +0.22 points	0.33%	0.11%
Vodafone Group PLCVOD.L	GLOF +0.21 points	0.30%	0.09%
Cardinal HealthCAH	GLOF +0.21 points	0.31%	0.10%
Broadcom IncAVGO	GSWO +0.20 points	1.56%	1.76%
E.on N	GLOF +0.20 points	0.22%	0.02%
Credit Agricole SA	GLOF +0.20 points	0.23%	0.03%
Motorola Solutions IncMSI	GLOF +0.20 points	0.25%	0.05%
Ubs Group AG	GLOF +0.20 points	0.36%	0.16%
FortinetFTNT	GLOF +0.19 points	0.35%	0.16%
Equinor	GLOF +0.19 points	0.29%	0.10%
Adobe IncADBE	GLOF +0.18 points	0.34%	0.16%
Imperial Oil Ltd	GLOF +0.19 points	0.22%	0.03%
TjxTJX	GSWO +0.19 points	0.05%	0.24%
Phoenix Financial Ltd	GLOF +0.19 points	0.23%	0.04%
Nordea Bank	GLOF +0.18 points	0.23%	0.05%
Asml Holding	GSWO +0.18 points	0.57%	0.75%
Costco Wholesale CorpCOST	GSWO +0.18 points	0.32%	0.50%
Ameriprise Finance IncAMP	GLOF +0.18 points	0.29%	0.11%
PepsicoPEP	GLOF +0.17 points	0.39%	0.22%
RtxRTX	GSWO +0.17 points	0.10%	0.27%
Airbnb Class AABNB	GLOF +0.16 points	0.21%	0.05%
CintasCTAS	GLOF +0.17 points	0.28%	0.11%
Target CorpTGT	GLOF +0.16 points	0.29%	0.13%
Cisco Systems IncCSCO	GSWO +0.16 points	0.32%	0.48%
Idexx LaboratoriesIDXX	GLOF +0.16 points	0.28%	0.12%
Ageas	GLOF +0.16 points	0.20%	0.04%
Astrazeneca PLCAZN.L	GSWO +0.15 points	0.13%	0.28%
Bank of AmericaBAC	GSWO +0.15 points	0.21%	0.36%
George Weston	GLOF +0.15 points	0.19%	0.04%
NewmontNEM	GSWO +0.15 points	0.02%	0.17%
Morgan StanleyMS	GSWO +0.15 points	0.11%	0.26%
Procter & GamblePG	GLOF +0.14 points	0.51%	0.37%
Hoya	GSWO +0.14 points	<0.01%	0.15%
Valero Energy CorpVLO	GLOF +0.13 points	0.31%	0.18%
TeradyneTER	GSWO +0.14 points	0.02%	0.16%
A P Moller Maersk B	GLOF +0.13 points	0.21%	0.08%
Howmet AerospaceHWM	GLOF +0.13 points	0.21%	0.08%
Banco Bilbao Vizcaya Argentaria	GLOF +0.13 points	0.31%	0.18%
Endesa SA	GLOF +0.13 points	0.16%	0.03%
Mastercard Class AMA	GSWO +0.12 points	0.48%	0.60%
Mcdonalds CorpMCD	GLOF +0.13 points	0.26%	0.13%
Palantir Technologies Class APLTR	GSWO +0.13 points	0.33%	0.46%
Toyota Motor	GSWO +0.13 points	<0.01%	0.13%
Amgen IncAMGN	GLOF +0.13 points	0.33%	0.20%
Caterpillar IncCAT	GSWO +0.13 points	0.19%	0.32%
Cvs HealthCVS	GSWO +0.12 points	0.04%	0.16%
Gilead SciencesGILD	GLOF +0.12 points	0.36%	0.24%
OracleORCL	GLOF +0.12 points	0.31%	0.19%
International Business Machines CoIBM	GSWO +0.12 points	0.13%	0.25%
AT&TT	GLOF +0.12 points	0.26%	0.14%
Banco Bpm	GLOF +0.12 points	0.16%	0.04%
QualcommQCOM	GLOF +0.11 points	0.34%	0.23%
PfizerPFE	GLOF +0.12 points	0.25%	0.13%

All 654 GLOF 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.

GLOF vs GSWO Cost

Overpaying GLOF vs GSWO

$1,018

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

GLOF 0.20%
$4,155
GSWO 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

GLOF 0.20%
GSWO 0.15%
Overpaying

Year by year

Year	GLOF	GSWO	Overpaying
10	$365	$274	$91
20	$1,421	$1,071	$350
30	$4,155	$3,137	$1,018

Expense ratio

0.20%GLOF
0.15%GSWO, cheaper

GSWO0.15%GLOF0.20%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

GSWO cheapest of 30 funds

GLOF 5th cheapest of 30 funds

GLOF vs GSWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GLOF 1.57%, better; GSWO 1.46%
Payout (12M): GLOF $0.93; GSWO $0.93
Last payment: GLOF $0.45; GSWO $0.20
Ex-dividend: GLOF Jun 15, 2026; GSWO Sep 24, 2026
Paid on: GLOF Jun 18, 2026; GSWO Sep 30, 2026
Frequency: GLOF Twice a year; GSWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GLOFTwice a year · 20 paymentsAll GLOF payments⁠

GSWOQuarterly · 18 paymentsAll GSWO payments⁠

GLOF vs GSWO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GLOF 11.4%GSWO No data
Return per unit of riskSharpe ratio, 3 years: GLOF 1.55GSWO No data
Worst fallMax drawdown, 5 years: GLOF −25.1%GSWO No data
Market sensitivityBeta, 5 years: GLOF 0.91GSWO 0.75; Market = 1

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