GSIE vs GSWO: Grades, Fees and Holdings Compared

Goldman Sachs ActiveBeta International Equity ETF

GSIEBNYSE Arca

Goldman Sachs ActiveBeta World Equity ETF

GSWOACboe

Overlap

25.4%by weight

Expense ratio

GSWO −0.10pt a year

GSIE0.25%GSWO0.15%

Avg volume · 30D

GSIE 6.3×the volume

GSIE413KGSWO65.7K

GSIE vs GSWO Performance

Aug 5, 2026 – Nov 5, 2026

−3.2%GSIE−4.6%GSWO

Expense ratio: GSIE 0.25%; GSWO 0.15%, better
Fund size: GSIE $6.02B; GSWO $1.8B
1Y total return: GSIE +14.7%; GSWO No data
Yield (12M): GSIE 2.63%, better; GSWO 1.50%
Holdings: GSIE 641; GSWO 723
Avg volume (30D): GSIE 413K sh, better; GSWO 65.7K sh
NAV per share: GSIE $46.77; GSWO $64.69
52W range

ETF.net Grade

Pillar letters and Scores for GSIE, GSWO, with each pillar’s weight
Pillar	GSIE	GSWO
Cost30% weight	A74	A98Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C51	A73Higher
Tradability15% weight	B63	A86Higher
Holdings10% weight	A75Higher	D29
Durability5% weight	A80Higher	B62

Rank among International Multifactor funds

How we build Categories ›

Same Category. GSIE 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 1st 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 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

GSIEBGoldman Sachs ActiveBeta International Equity ETF

GSWOAGoldman Sachs ActiveBeta World Equity ETF

In short

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.

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

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.

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

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.

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

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

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 GSIE profile⁠

Full GSWO profile⁠

GSIE vs GSWO Holdings

How GSIE and GSWO differ

Overlap by weight

25.4%

Shared holdings make up 74.1% of GSIE and 25.7% of GSWO.

Level by level

Holdings320 in both25.4%
Countryby domicile31.0%
Sector11 Sectors72.0%
Asset classStocks100%

Sector

Sector weights in GSIE and GSWO, widest gap first
Sector	Gap	GSIE	GSWO
Technology	GSWO +21.7 points	10.3%	32.0%
Financials	GSIE +12.2 points	28.2%	16.0%
Industrials	GSIE +7.6 points	17.2%	9.6%
Communication	GSWO +3.8 points	3.6%	7.4%
Materials	GSIE +2.9 points	5.2%	2.3%
Utilities	GSIE +2.2 points	3.4%	1.2%
Consumer Staples	GSIE +1.7 points	7.6%	5.9%
Consumer Discretionary	GSWO +1.5 points	8.6%	10.1%
Health Care	GSWO +0.9 points	9.6%	10.5%
Energy	GSIE +0.7 points	5.2%	4.5%
Real Estate	GSIE +0.6 points	1.1%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in GSIE and GSWO, widest gap first
Country	Gap	GSIE	GSWO
United States	GSWO +68.4 points	0.7%	69.1%
Japan	GSIE +12.9 points	21.4%	8.5%
Canada	GSIE +8.5 points	11.8%	3.3%
United Kingdom	GSIE +8.4 points	11.5%	3.1%
Switzerland	GSIE +6.2 points	8.8%	2.6%
Germany	GSIE +6.0 points	7.8%	1.8%
France	GSIE +5.7 points	7.1%	1.4%
Netherlands	GSIE +4.2 points	5.5%	1.3%
Other countries (19)	GSIE +16.6 points	25.5%	8.9%

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

Concentration

Weight in the 10 largest Holdings

GSIE10.6%
GSWO27.6%

Securities held

GSIE631
GSWO711

Asset class

GSIE: Stocks
GSWO: Stocks

Holdings

Only in GSIE311
In both320
Only in GSWO391

Only in GSIE

311 securities, 25.8% of GSIE by weight

Zalando SE0.36%
Eiffage SA0.35%
Nn Group N.v.0.32%
Rational AG0.30%
Avolta AG0.30%
Fresenius Medical Care AG0.30%
Pandora A/S0.28%
Carrefour S.a. (Ord)0.27%
Ipsen0.23%
Logitech International S.a.0.23%
Bureau Veritas0.23%
Otsuka Corporation0.22%
Barry Callebaut AG Reg0.22%
Sonova Holding AG0.21%
Mapfre, S.a.0.21%
Ems-Chemie Holding AG0.20%
Yokogawa Electric0.20%
Buzzi Spa0.20%
Asr Nederland N.v.0.20%
Industrivarden Ab-Ser 'c' Fria0.18%
Industrivarden Ab A Fria0.18%
Vat Group AG0.18%
International Consolidated Airlines Group SA0.17%
Nemetschek AG Ord Npv0.17%
Smiths Group PLC0.17%
Gea Group AG0.17%
Argenx SE0.17%
Bunzl Public Limited Company0.17%
Cgi Inc.0.17%
Renesas Electronics Corporation0.16%
Aegon Ltd0.16%
Canon Inc.0.16%
Italgas S.p.a.0.15%
Boc Hong Kong (Holdings) Ltd0.15%
Wolters Kluwer N.v.0.14%
National Australia Bk -Ord0.14%
Recordati S.p.a.0.14%
Halma Ord 10P0.14%
Swiss Life Holding AG0.14%
Fortis Inc.0.14%
Kyocera Corporation0.14%
Suntory Beverage & Food Limited0.13%
Lundbergforetagen Ab Ser 'b'0.13%
Holcim AG0.13%
Saputo Inc.0.13%
Softbank Corp.0.13%
Informa PLC0.13%
Canadian Utilities Ltd Class A0.13%
Ferrovial NV0.13%
Helvetia Baloise Holding AG0.13%

Only in GSWO

391 securities, 74.2% of GSWO by weight

Apple Inc.5.65%
NVIDIA Corporation5.29%
Microsoft Corporation4.46%
Amazon.com Inc2.83%
Alphabet Inc.1.87%
Broadcom Inc.1.67%
Alphabet Inc.1.64%
Meta Platforms Inc-Class A1.54%
Eli Lilly & Co1.38%
Tesla Inc.1.27%
Micron Technology, Inc.1.08%
JPMorgan Chase & Co1.05%
Advanced Micro Devices Inc.0.88%
Visa Inc.0.86%
Berkshire Hathaway Inc.0.82%
Johnson & Johnson0.75%
Exxonmobil Holdings Corporation0.74%
Walmart Inc0.71%
Mastercard Incorporated0.64%
AbbVie Inc.0.57%
Costco Wholesale Corporation0.52%
Merck & Co., Inc.0.49%
Cisco Systems, Inc.0.46%
UnitedHealth Group Incorporated0.45%
Philip Morris Intl Inc0.43%
Coca-Cola Company (The)0.42%
Chevron Corporation0.41%
Palantir Technologies Inc.0.40%
The Home Depot, Inc.0.40%
The Procter & Gamble Company0.38%
Bank of America Corp0.37%
Gilead Sciences0.36%
Lam Research Corporation0.36%
General Electric Company0.34%
Applied Materials Inc0.33%
Amgen Inc.0.32%
Crowdstrike Holdings, Inc.0.31%
Wells Fargo & Company0.30%
Texas Instruments Inc.0.30%
Palo Alto Networks Inc.0.30%
Caterpillar Inc (Delaware)0.29%
Citigroup Inc.0.28%
Intel Corporation0.28%
Kla Corp0.28%
Morgan Stanley0.27%
Netflix, Inc.0.26%
Rtx Corp0.25%
Ge Vernova Llc0.25%
Western Digital Corporation0.25%
Intl Business Machines Corp0.24%

Weight gaps

The 100 widest of 320 Holdings in both funds.

Holding weights in GSIE and GSWO, widest gap first
Holding	Gap	GSIE	GSWO
Asml Holding N.v.	GSIE +1.33 points	1.98%	0.65%
Royal Bank of Canada	GSIE +0.85 points	1.15%	0.30%
Roche Holding AG	GSIE +0.76 points	1.15%	0.39%
Novartis AG Shs	GSIE +0.74 points	1.07%	0.33%
Hsbc Holdings PLCHSBA.L	GSIE +0.69 points	1.01%	0.32%
Advantest Corp	GSIE +0.69 points	0.96%	0.27%
Toronto Dominion Bank	GSIE +0.62 points	0.87%	0.25%
Astrazeneca PLC OrdAZN.L	GSIE +0.57 points	0.86%	0.29%
Banco Santander, S.a.	GSIE +0.51 points	0.73%	0.22%
Shell PLCSHEL.L	GSIE +0.50 points	0.76%	0.26%
Recruit Holdings Co., Ltd.	GSIE +0.49 points	0.78%	0.29%
Allianz SE	GSIE +0.47 points	0.65%	0.18%
Sap SE	GSIE +0.40 points	0.59%	0.19%
Nestle S.a.	GSIE +0.39 points	0.60%	0.21%
Banco Bilbao Vizcaya	GSIE +0.38 points	0.57%	0.19%
Canadian Imperial Bank of	GSIE +0.39 points	0.51%	0.12%
Bank of Nova Scotia (The)	GSIE +0.37 points	0.48%	0.11%
Bayer Aktiengesellschaft	GSIE +0.37 points	0.45%	0.08%
Ince/Icus Msci Eafe 12/2026	GSIE +0.36 points	0.46%	0.10%
Kingfisher PLCKGF.L	GSIE +0.36 points	0.47%	0.11%
Siemens AG Reg Shs	GSIE +0.36 points	0.54%	0.18%
Koninklijke Ahold Delhaize NV	GSIE +0.34 points	0.46%	0.12%
Mitsubishi Ufj Financial Group	GSIE +0.34 points	0.55%	0.21%
Magna International Inc.	GSIE +0.33 points	0.40%	0.07%
Tokyo Electron Ltd	GSIE +0.32 points	0.47%	0.15%
Iberdrola Sociedad Anonima	GSIE +0.32 points	0.43%	0.11%
Bouygues S.a. (Ord)	GSIE +0.32 points	0.38%	0.06%
Deutsche Bank Reg Shs	GSIE +0.31 points	0.40%	0.09%
Dbs Group Holdings Ltd	GSIE +0.31 points	0.43%	0.12%
Fairfax Financial Hldgs Ltd	GSIE +0.31 points	0.38%	0.07%
Idemitsu Kosan Co.,ltd.	GSIE +0.29 points	0.35%	0.06%
Dhl Group	GSIE +0.29 points	0.48%	0.19%
Vodafone Group PLCVOD.L	GSIE +0.29 points	0.38%	0.09%
Mitsubishi Chemical Group Corporation	GSIE +0.29 points	0.35%	0.06%
Sgs SA	GSIE +0.28 points	0.40%	0.12%
Bhp Group Limited	GSIE +0.28 points	0.46%	0.18%
Bank of Montreal	GSIE +0.28 points	0.41%	0.13%
Barclays PLCBARC.L	GSIE +0.28 points	0.36%	0.08%
Bp PLCBP.L	GSIE +0.27 points	0.42%	0.15%
Heineken Holding N.v.	GSIE +0.26 points	0.31%	0.05%
Cap Gemini	GSIE +0.26 points	0.30%	0.04%
Unicredit, Societa' Per Azioni	GSIE +0.27 points	0.38%	0.11%
L'oreal	GSIE +0.27 points	0.41%	0.14%
Ing Groep N.v.	GSIE +0.26 points	0.38%	0.12%
Gsk PLCGSK.L	GSIE +0.26 points	0.39%	0.13%
Geberit AG	GSIE +0.25 points	0.33%	0.08%
Axa	GSIE +0.25 points	0.34%	0.09%
Enbridge Inc.	GSIE +0.25 points	0.31%	0.06%
Mercedes-Benz Group AG	GSIE +0.25 points	0.30%	0.05%
Empire Co Ltd Cl-A	GSIE +0.25 points	0.33%	0.08%
Novo Nordisk A/S	GSIE +0.25 points	0.39%	0.14%
Mitsubishi Corp.	GSIE +0.24 points	0.33%	0.09%
Eneos Holdings, Inc.	GSIE +0.24 points	0.31%	0.07%
Totalenergies SE	GSIE +0.24 points	0.45%	0.21%
Commonwealth Bank of Australia	GSIE +0.24 points	0.38%	0.14%
Woolworths Group Limited	GSIE +0.24 points	0.36%	0.12%
Sumitomo Corporation	GSIE +0.23 points	0.31%	0.08%
Shiseido Co., Ltd.	GSIE +0.23 points	0.34%	0.11%
Ocbc Ltd	GSIE +0.24 points	0.30%	0.06%
Ubs Group AG	GSIE +0.23 points	0.40%	0.17%
Hitachi, Ltd.	GSIE +0.24 points	0.32%	0.08%
Constellation Software Inc	GSIE +0.22 points	0.35%	0.13%
Sage Group Plc. (The)SGE.L	GSIE +0.22 points	0.30%	0.08%
Hong Kong Exchanges & Clear	GSIE +0.22 points	0.27%	0.05%
Fresenius SE & Co. Kgaa	GSIE +0.22 points	0.27%	0.05%
Takeda Pharmaceutical Co Ltd	GSIE +0.22 points	0.29%	0.07%
Suzuki Motor Corp	GSIE +0.21 points	0.25%	0.04%
Loblaw Cos Ltd	GSIE +0.22 points	0.31%	0.09%
Ana Holdings Inc.	GSIE +0.21 points	0.25%	0.04%
Singapore Exchange Ltd	GSIE +0.21 points	0.27%	0.06%
Admiral Group PLCADM.L	GSIE +0.21 points	0.29%	0.08%
Japan Post Insurance Co., Ltd	GSIE +0.20 points	0.26%	0.06%
Lottery Corp/The	GSIE +0.21 points	0.29%	0.08%
Schneider Electric	GSIE +0.21 points	0.30%	0.09%
M&G PLCMNG.L	GSIE +0.20 points	0.23%	0.03%
National Bank Cda Montreal Que	GSIE +0.20 points	0.25%	0.05%
Wesfarmers Limited	GSIE +0.20 points	0.30%	0.10%
Intesa Sanpaolo	GSIE +0.20 points	0.31%	0.11%
Societe Generale	GSIE +0.20 points	0.27%	0.07%
Acs, Actividades De Construccion Y Servicios SA	GSIE +0.20 points	0.25%	0.05%
Rio Tinto PLCRIO.L	GSIE +0.19 points	0.26%	0.07%
Natwest Group PLCNWG.L	GSIE +0.19 points	0.28%	0.09%
Bridgestone Corp	GSIE +0.19 points	0.23%	0.04%
Lundin Gold Inc.	GSIE +0.19 points	0.31%	0.12%
Sbi Holdings, Inc.	GSIE +0.19 points	0.23%	0.04%
Ck Hutchison Holdings Limited	GSIE +0.19 points	0.26%	0.07%
Cvc Capital Partners PLC	GSIE +0.19 points	0.29%	0.10%
Zurich Insurance Group AG	GSIE +0.19 points	0.27%	0.08%
Qbe Insurance Group Limited	GSIE +0.19 points	0.24%	0.05%
Tc Energy Corp	GSIE +0.18 points	0.23%	0.05%
Standard Chartered PLCSTAN.L	GSIE +0.19 points	0.28%	0.09%
Bnp Paribas	GSIE +0.19 points	0.39%	0.20%
Air Liquide SA	GSIE +0.19 points	0.23%	0.04%
Banca Mediolanum S.p.a.	GSIE +0.19 points	0.24%	0.05%
Kuehne & Nagel Intl AG	GSIE +0.18 points	0.32%	0.14%
Manulife Financial Corp	GSIE +0.18 points	0.23%	0.05%
Vinci SA	GSIE +0.18 points	0.23%	0.05%
Nordea Bank Abp	GSIE +0.18 points	0.24%	0.06%
Hoya Corp	GSIE +0.18 points	0.30%	0.12%
Suncor Energy Inc.	GSIE +0.18 points	0.31%	0.13%

All 631 GSIE holdings⁠All 712 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.

GSIE vs GSWO Cost

Overpaying GSIE vs GSWO

$2,022

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

GSIE 0.25%
$5,159
GSWO 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

GSIE 0.25%
GSWO 0.15%
Overpaying

Year by year

Year	GSIE	GSWO	Overpaying
10	$455	$274	$181
20	$1,769	$1,071	$698
30	$5,159	$3,137	$2,022

Expense ratio

0.25%GSIE
0.15%GSWO, cheaper

GSWO0.15%GSIE0.25%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

GSWO cheapest of 30 funds

GSIE 8th cheapest of 30 funds

GSIE vs GSWO Dividends

Last 12 months to Nov 5, 2026

Yield (12M): GSIE 2.63%, better; GSWO 1.50%
Payout (12M): GSIE $1.21; GSWO $0.93
Last payment: GSIE $0.26; GSWO $0.20
Ex-dividend: GSIE Sep 24, 2026; GSWO Sep 24, 2026
Paid on: GSIE Sep 30, 2026; GSWO Sep 30, 2026
Frequency: GSIE Quarterly; GSWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSIEQuarterly · 40 paymentsAll GSIE payments⁠

GSWOQuarterly · 18 paymentsAll GSWO payments⁠

GSIE vs GSWO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GSIE 11.2%GSWO No data
Return per unit of riskSharpe ratio, 3 years: GSIE 1.31GSWO No data
Worst fallMax drawdown, 5 years: GSIE −29.6%GSWO No data
Market sensitivityBeta, 5 years: GSIE 0.87GSWO 0.75; Market = 1

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