GSIB vs QABA: Grades, Fees and Holdings Compared

Themes Global Systemically Important Banks ETF

GSIBBNasdaq

First Trust NASDAQ ABA Community Bank Index Fund

QABADNasdaq

Overlap

0.0%by weight

Expense ratio

GSIB −0.25pt a year

GSIB0.35%QABA0.60%

Avg volume · 30D

GSIB 1.6×the volume

GSIB13.6KQABA8.73K

GSIB vs QABA Performance

Oct 31, 2025 – Oct 30, 2026

+26.7%GSIB+27.3%QABA

Expense ratio: GSIB 0.35%, better; QABA 0.60%
Fund size: GSIB $39M; QABA $86M
1Y total return: GSIB +26.7%; QABA +27.3%, better
Yield (12M): GSIB 1.67%; QABA 2.32%, better
Holdings: GSIB 32; QABA 160
Avg volume (30D): GSIB 13.6K sh, better; QABA 8.73K sh
NAV per share: GSIB $59.90; QABA $66.47
52W range

ETF.net Grade

Pillar letters and Scores for GSIB, QABA, with each pillar’s weight
Pillar	GSIB	QABA
Cost30% weight	B62Higher	F13
Mission25% weight	Not scored	Not scored
Risk15% weight	A82Higher	B60
Tradability15% weight	D28	D34Higher
Holdings10% weight	B68	A76Higher
Durability5% weight	D29	C51Higher

Rank among Banks funds

How we build Categories ›

Same Category. GSIB and QABA are both graded against the same 9 Banks funds, so their Grades compare head to head.

Banks⁠

Category · 9 funds

See all 9 ›

GSIB ranks 4th and QABA 7th of 9 funds in the Banks Category.

Rank 1BKREState Street SPDR S&P Regional Banking ETFScore 67
Rank 2BKBEState Street SPDR S&P Bank ETFScore 63
Rank 2BKBWBInvesco KBW Bank ETFScore 63
Rank 4BGSIBThemes Global Systemically Important Banks ETFScore 57
Rank 5CPBEUPortfolio Building Block European Banks Index ETFScore 51
Rank 6CFDIQInvesco Bloomberg Financial Data Providers ETFScore 50
Rank 7DQABAFirst Trust NASDAQ ABA Community Bank Index FundScore 37
Rank 8DFTXOFirst Trust Nasdaq Bank ETFScore 36

Our read on each fund

ETF.net Research

GSIBBThemes Global Systemically Important Banks ETF

QABADFirst Trust NASDAQ ABA Community Bank Index Fund

In short

GSIB Most bank ETFs stop at the US border. GSIB goes after the other kind of bank: the world's systemically important ones, roughly 30 global megabanks in a single actively managed portfolio.

QABA The bank ETF that starts by deleting the biggest banks. QABA tracks a Nasdaq index of community banks and thrifts that drops the 50 largest by assets, plus credit-card and international specialists. Main Street lenders, not money centers.

Stated mandate

GSIB The Fund seeks growth of capital through an actively managed portfolio of equity securities issued by companies operating in the global banking sector.

QABA The Fund seeks to track, before fees and expenses, the price and yield of the Nasdaq OMX® ABA Community BankTM Index.

Why people hold it

GSIB The niche is in the name: global systemically important banks, roughly 30 of them, rather than another basket of US regionals.
Genuinely global mandate. Most of the bank-ETF field is domestic (KBE, KBWB, KRE) or single-region (PBEU, European banks).
0.35% expense ratio, right at the bank-ETF median, and you get an actively managed global sleeve for it instead of a plain index tracker.
Spread across megabanks in several regions, so no single country's banking system runs the whole fund. It grades out in the upper half of its bank-ETF peer group.

QABA Built as a pure community-bank screen: Nasdaq-listed banks and thrifts, minus the 50 largest by FDIC asset size and any credit-card or international specialists.ftportfolios.com
Trading since 2009 on an index co-developed with the American Bankers Association, rebalanced quarterly and market-cap weighted with issuer caps.ftportfolios.com
Spreads across roughly 160 small lenders, so the portfolio leans on community banking economics rather than one or two regional names.

Worth knowing

GSIB Launched in 2023, so the live record is short and the asset base is still small next to the established bank ETFs.
Thinly traded for its category. Spreads can widen, and limit orders do the heavy lifting.
One sector, roughly 30 names, and distributions land once or twice a year rather than monthly.

QABA Costs 0.60% net of a waiver through April 30, 2027 (0.63% gross), above the category median and above KRE, KBE and KBWB at 0.35%.
Nasdaq-listed only. Community banks trading on other exchanges fall outside the index by design.ftportfolios.com
Thinner trading than the big regional-bank funds, which can show up as wider bid-ask spreads.

Full GSIB profile⁠

Full QABA profile⁠

GSIB vs QABA Holdings

How GSIB and QABA differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of GSIB and 0.0% of QABA.

Level by level

Holdings0 in both0.0%
Countryby domicile29.2%
Asset classEquity100%
Sector2 Sectors99.7%

Sector

Sector weights in GSIB and QABA, widest gap first
Sector	More in GSIBMore in QABA	GSIB	QABA
Financials	GSIB +0.3 points	100.0%	99.7%
Industrials	QABA +0.3 points	0.0%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in GSIB and QABA, widest gap first
Country	More in GSIBMore in QABA	GSIB	QABA
United States	QABA +70.8 points	28.9%	99.7%
China	GSIB +19.8 points	19.8%	0.0%
Japan	GSIB +10.6 points	10.6%	0.0%
United Kingdom	GSIB +10.2 points	10.2%	0.0%
France	GSIB +9.3 points	9.3%	0.0%
Canada	GSIB +7.5 points	7.8%	0.3%
Switzerland	GSIB +3.6 points	3.6%	0.0%
Germany	GSIB +3.4 points	3.4%	0.0%
Other countries (2)	GSIB +6.4 points	6.4%	0.0%

Outside the US: GSIB 72% developed, 28% emerging.

Concentration

Weight in the 10 largest Holdings

GSIB39.0%
QABA26.6%

Securities held

GSIB31
QABA158

Asset class

GSIB: Equity
QABA: Equity

Holdings

Only in GSIB31
In both0
Only in QABA158

Only in GSIB

31 securities, 99.7% of GSIB by weight

Agricultural Bank of China Ltd4.16%
Industrial & Commercial Bank of China Ltd4.07%
China Construction Bank Corp4.06%
Bank of Communications Co Ltd4.03%
Toronto-Dominion Bank/The3.93%
Bank of China Ltd3.91%
Royal Bank of Canada3.82%
JPMorgan Chase & Co.3.68%
Bank of New York Mellon Corp/The3.65%
Wells Fargo & Co3.65%
Goldman Sachs Group Inc/The3.64%
UBS Group AG3.60%
Mitsubishi UFJ Financial Group Inc3.54%
State Street Corp3.54%
Sumitomo Mitsui Financial Group Inc3.51%
Citigroup Inc3.49%
Morgan Stanley3.47%
Standard Chartered PLC3.47%
Mizuho Financial Group Inc3.37%
Barclays PLC3.35%
Deutsche Bank AG3.34%
ING Groep NV3.29%
Bank of America Corp3.29%
HSBC Holdings PLC3.23%
BNP Paribas SA3.11%
Societe Generale SA3.07%
Credit Agricole SA3.02%
Banco Santander SA2.96%
First American Treasury Obligations Fund 01/01/20400.44%
Euro<0.01%
Hong Kong Dollar<0.01%

Only in QABA

158 securities, 99.8% of QABA by weight

Wintrust Financial Corporation4.32%
Central Bancompany, Inc.3.62%
Commerce Bancshares, Inc.3.32%
United Bankshares, Inc.2.76%
Hancock Whitney Corporation2.43%
Bank OZK2.32%
Eastern Bankshares, Inc.2.15%
TFS Financial Corporation1.94%
Fulton Financial Corporation1.88%
First Financial Bankshares, Inc.1.84%
Cathay General Bancorp1.81%
WSFS Financial Corporation1.69%
CVB Financial Corp.1.67%
Independent Bank Corp.1.65%
BancFirst Corporation1.56%
WesBanco, Inc.1.55%
First Interstate BancSystem, Inc.1.51%
First Financial Bancorp.1.43%
TowneBank1.41%
Simmons First National Corporation1.41%
Mechanics Bancorp (Class A)1.36%
Seacoast Banking Corporation of Florida1.34%
First Hawaiian, Inc.1.29%
Columbia Financial, Inc.1.25%
NBT Bancorp Inc.1.14%
First Bancorp1.11%
Trustmark Corporation1.08%
First Merchants Corporation1.07%
Stock Yards Bancorp, Inc.1.02%
Merchants Bancorp1.01%
First Busey Corporation1.00%
Banner Corporation0.99%
Enterprise Financial Services Corp0.94%
Northwest Bancshares, Inc.0.94%
WaFd Inc.0.91%
1st Source Corporation0.89%
City Holding Company0.84%
The Bancorp, Inc.0.80%
German American Bancorp, Inc.0.77%
S&T Bancorp, Inc.0.75%
OceanFirst Financial Corp.0.73%
FirstSun Capital Bancorp0.72%
Hope Bancorp, Inc.0.71%
TriCo Bancshares0.71%
QCR Holdings, Inc.0.70%
Bank First Corporation0.69%
ConnectOne Bancorp, Inc.0.68%
Republic Bancorp, Inc.0.66%
Pathward Financial, Inc.0.66%
Esquire Financial Holdings, Inc.0.64%

Weight gaps

GSIB and QABA share no securities.

All 29 GSIB holdings⁠All 158 QABA 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.

GSIB vs QABA Cost

Overpaying QABA vs GSIB

$4,691

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

GSIB 0.35%
$7,126
QABA 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

GSIB 0.35%
QABA 0.60%
Overpaying

Year by year

Year	GSIB	QABA	Overpaying
10	$634	$1,076	$442
20	$2,454	$4,116	$1,662
30	$7,126	$11,817	$4,691

Expense ratio

0.35%GSIB, cheaper
0.60%QABA

GSIB0.35%QABA0.60%

0.13%0.60%

Middle half of Banks funds
Median 0.35%

GSIB 2nd cheapest of 9 funds

QABA 8th cheapest of 9 funds

GSIB vs QABA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSIB 1.67%; QABA 2.32%, better
Payout (12M): GSIB $1.00; QABA $1.54
Last payment: GSIB $1.00; QABA $0.36
Ex-dividend: GSIB Dec 18, 2025; QABA Sep 24, 2026
Paid on: GSIB Dec 19, 2025; QABA Sep 30, 2026
Frequency: GSIB Irregular; QABA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSIBIrregular · 2 paymentsAll GSIB payments⁠

QABAQuarterly · 39 paymentsAll QABA payments⁠

GSIB vs QABA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GSIB 13.4%since Jan 2024QABA 22.9%
Return per unit of riskSharpe ratio, 3 years: GSIB 2.12since Jan 2024QABA 0.83
Worst fallMax drawdown, 5 years: GSIB −17.7%since Dec 2023QABA −43.0%
Market sensitivityBeta, 5 years: GSIB 0.58QABA 0.98; Market = 1

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