GSWO vs QEFA: Grades, Fees and Holdings Compared

Goldman Sachs ActiveBeta World Equity ETF

GSWOACboe

State Street SPDR MSCI EAFE StrategicFactors ETF

QEFABNYSE Arca

Overlap

19.2%by weight

Expense ratio

GSWO −0.15pt a year

GSWO0.15%QEFA0.30%

Avg volume · 30D

GSWO 2.2×the volume

GSWO65.7KQEFA30.1K

GSWO vs QEFA Performance

Aug 5, 2026 – Nov 5, 2026

−4.6%GSWO−0.1%QEFA

Expense ratio: GSWO 0.15%, better; QEFA 0.30%
Fund size: GSWO $1.8B; QEFA $1.05B
1Y total return: GSWO No data; QEFA +17.2%
Yield (12M): GSWO 1.50%; QEFA 2.73%, better
Holdings: GSWO 723; QEFA 637
Avg volume (30D): GSWO 65.7K sh, better; QEFA 30.1K sh
NAV per share: GSWO $64.69; QEFA $101.28
52W range

ETF.net Grade

Pillar letters and Scores for GSWO, QEFA, with each pillar’s weight
Pillar	GSWO	QEFA
Cost30% weight	A98Higher	B59
Mission25% weight	Not scored	A98
Risk15% weight	A73Higher	B68
Tradability15% weight	A86Higher	A74
Holdings10% weight	D29	B60Higher
Durability5% weight	B62	A77Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. GSWO and QEFA 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 QEFA 9th 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 9BFENIFidelity Enhanced International ETFScore 65
Rank 9BQEFAState Street SPDR MSCI EAFE StrategicFactors ETFScore 65
Rank 11BDEEFXtrackers FTSE Developed ex US Multifactor ETFScore 64

Our read on each fund

ETF.net Research

GSWOAGoldman Sachs ActiveBeta World Equity ETF

QEFABState Street SPDR MSCI EAFE StrategicFactors ETF

In short

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.

QEFA One ticker, three factors. QEFA holds developed-market stocks outside the US through a single MSCI index that blends low volatility, quality and value, so you don't have to pick a lane or bolt three funds together.

Stated mandate

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.

QEFA The fund seeks to track the MSCI EAFE Factor Mix A-Series Index, using a Smart Beta strategy that combines low-volatility, quality, and value exposures.

Why people hold it

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.

QEFA Combines low volatility, quality and value in one MSCI index instead of leaving you to buy and rebalance three single-factor funds.ssga.com
0.30% a year undercuts the typical fund in its international multifactor group, and the portfolio spreads across roughly 600 developed-market stocks.
Tracks its index tightly, one of the cleaner implementations in its peer group, and it has been running as a multi-billion-dollar fund since 2014.

Worth knowing

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.

QEFA Thinly traded for its size. Spreads can widen during US hours, when the European and Japanese markets its stocks trade on are closed.
Cheaper seats in the same aisle: INTF charges 0.16% and FDEV 0.18%.
EAFE is developed markets only. No US stocks, no emerging markets, and payouts arrive once or twice a year rather than quarterly.

Full GSWO profile⁠

Full QEFA profile⁠

GSWO vs QEFA Holdings

How GSWO and QEFA differ

Overlap by weight

19.2%

Shared holdings make up 67.4% of QEFA and 21.7% of GSWO.

Level by level

Holdings268 in both19.2%
Countryby domicile28.0%
Sector11 Sectors72.9%
Asset classStocks100%

Sector

Sector weights in GSWO and QEFA, widest gap first
Sector	Gap	GSWO	QEFA
Technology	GSWO +23.2 points	32.0%	8.8%
Industrials	QEFA +6.6 points	9.6%	16.2%
Financials	QEFA +5.1 points	16.0%	21.1%
Consumer Staples	QEFA +4.0 points	5.9%	9.9%
Utilities	QEFA +3.4 points	1.2%	4.6%
Health Care	QEFA +3.4 points	10.5%	13.9%
Communication	GSWO +2.6 points	7.4%	4.8%
Materials	QEFA +2.4 points	2.3%	4.7%
Energy	QEFA +1.3 points	4.5%	5.8%
Consumer Discretionary	GSWO +1.3 points	10.1%	8.8%
Real Estate	QEFA +1.0 points	0.5%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in GSWO and QEFA, widest gap first
Country	Gap	GSWO	QEFA
United States	GSWO +68.3 points	69.1%	0.8%
Japan	QEFA +15.4 points	8.5%	23.9%
United Kingdom	QEFA +11.1 points	3.1%	14.2%
Switzerland	QEFA +10.0 points	2.6%	12.6%
France	QEFA +5.9 points	1.4%	7.3%
Germany	QEFA +5.4 points	1.8%	7.2%
Australia	QEFA +3.9 points	1.8%	5.7%
Netherlands	QEFA +3.3 points	1.3%	4.6%
Other countries (19)	QEFA +13.2 points	10.4%	23.6%

Outside the US: GSWO 95% developed, 5% emerging. QEFA 98% developed, 2% emerging.

Concentration

Weight in the 10 largest Holdings

GSWO27.6%
QEFA15.4%

Securities held

GSWO711
QEFA624

Asset class

GSWO: Stocks
QEFA: Stocks

Holdings

Only in GSWO443
In both268
Only in QEFA356

Only in GSWO

443 securities, 78.2% 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%
Royal Bank of Canada0.30%
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%
Toronto Dominion Bank0.25%
Ge Vernova Llc0.25%

Only in QEFA

356 securities, 32.4% of QEFA by weight

Secom Co Ltd0.60%
Airbus SE0.56%
Sampo Oyj A Shs0.55%
Swisscom AG Reg0.53%
Compass Group PLC0.48%
Japan Tobacco Inc0.44%
Softbank Corp0.44%
Obic Co Ltd0.43%
Ntt Inc0.42%
Keyence Corp0.42%
Clp Holdings Ltd0.40%
Boc Hong Kong Holdings Ltd0.39%
Ferrari NV0.37%
Csl Ltd0.36%
Swiss Prime Site Reg0.36%
East Japan Railway Co0.35%
Power Assets Holdings Ltd0.35%
Givaudan Reg0.31%
Shionogi & Co Ltd0.31%
Kone Oyj B0.30%
Reckitt Benckiser Group PLC0.30%
Kao Corp0.29%
Transurban Group0.28%
Koninklijke Kpn NV0.28%
Nintendo Co Ltd0.27%
Tryg A/S0.27%
Diageo PLC0.26%
Helvetia Baloise Holding AG0.26%
Medibank Private Ltd0.26%
Haleon PLC0.26%
Teva Pharmaceutical Ind Ltd0.25%
Canon Inc0.25%
3I Group PLC0.24%
Imperial Brands PLC0.24%
Aena Sme SA0.23%
Nomura Research Institute Lt0.22%
Daito Trust Construct Co Ltd0.22%
Volvo Ab B Shs0.22%
Atlas Copco Ab A Shs0.22%
Volkswagen AG Pref0.22%
Groupe Bruxelles Lambert NV0.22%
Oriental Land Co Ltd0.21%
Otsuka Corp0.20%
Kerry Group PLC A0.20%
Snam Spa0.20%
Chugai Pharmaceutical Co Ltd0.20%
Verbund AG0.19%
Generali0.19%
Brambles Ltd0.19%
Experian PLC0.19%

Weight gaps

The 100 widest of 268 Holdings in both funds.

Holding weights in GSWO and QEFA, widest gap first
Holding	Gap	GSWO	QEFA
Novartis AG Shs	QEFA +1.79 points	0.33%	2.12%
Roche Holding AG	QEFA +1.65 points	0.39%	2.04%
Astrazeneca PLC OrdAZN.L	QEFA +1.46 points	0.29%	1.75%
Nestle S.a.	QEFA +1.45 points	0.21%	1.66%
Asml Holding N.v.	QEFA +1.19 points	0.65%	1.84%
Unilever PLCULVR.L	QEFA +1.17 points	0.07%	1.24%
Shell PLCSHEL.L	QEFA +1.10 points	0.26%	1.36%
Sap SE	QEFA +1.06 points	0.19%	1.25%
Zurich Insurance Group AG	QEFA +0.97 points	0.08%	1.05%
Allianz SE	QEFA +0.91 points	0.18%	1.09%
Air Liquide SA	QEFA +0.75 points	0.04%	0.79%
Bhp Group Limited	QEFA +0.73 points	0.18%	0.91%
British American Tobacco OrdBATS.L	QEFA +0.71 points	0.07%	0.78%
Novo Nordisk A/S	QEFA +0.71 points	0.14%	0.85%
Totalenergies SE	QEFA +0.69 points	0.21%	0.90%
Gsk PLCGSK.L	QEFA +0.67 points	0.13%	0.80%
Takeda Pharmaceutical Co Ltd	QEFA +0.64 points	0.07%	0.71%
Iberdrola Sociedad Anonima	QEFA +0.65 points	0.11%	0.76%
Abb Ltd	QEFA +0.61 points	0.14%	0.75%
Eni Ordinary Shares	QEFA +0.58 points	0.06%	0.64%
L'oreal	QEFA +0.58 points	0.14%	0.72%
Muenchener Rueckvers.ges.ag	QEFA +0.56 points	0.07%	0.63%
Equinor Asa	QEFA +0.55 points	0.07%	0.62%
Dbs Group Holdings Ltd	QEFA +0.54 points	0.12%	0.66%
Advantest Corp	QEFA +0.53 points	0.27%	0.80%
Sony Group Corporation	QEFA +0.53 points	0.10%	0.63%
Ocbc Ltd	QEFA +0.49 points	0.06%	0.55%
Tokyo Electron Ltd	QEFA +0.47 points	0.15%	0.62%
Recruit Holdings Co., Ltd.	QEFA +0.47 points	0.29%	0.76%
Industria De Diseno Textil, S.a.	QEFA +0.48 points	0.14%	0.62%
Schneider Electric	QEFA +0.45 points	0.09%	0.54%
Bae Systems PLCBA.L	QEFA +0.45 points	0.04%	0.49%
Toyota Motor Corporation	QEFA +0.45 points	0.10%	0.55%
Fast Retailing Co Ltd	QEFA +0.44 points	0.12%	0.56%
Rolls-Royce Holdings PLCRR.L	QEFA +0.43 points	0.11%	0.54%
Bp PLCBP.L	QEFA +0.43 points	0.15%	0.58%
Lvmh Moet-Hennessy Louis	QEFA +0.42 points	0.09%	0.51%
Sanofi	QEFA +0.41 points	0.05%	0.46%
Tokio Marine Holdings, Inc.	QEFA +0.38 points	0.10%	0.48%
Compagnie Financiere Richemont SA	QEFA +0.38 points	0.06%	0.44%
Deutsche Boerse AG	QEFA +0.37 points	0.11%	0.48%
Orange	QEFA +0.37 points	0.03%	0.40%
Wesfarmers Limited	QEFA +0.37 points	0.10%	0.47%
Kddi Corporation	QEFA +0.36 points	0.08%	0.44%
Rio Tinto PLCRIO.L	QEFA +0.36 points	0.07%	0.43%
Relx PLCREL.L	QEFA +0.34 points	0.07%	0.41%
Bank Hapoalim B.m. (Ord)	QEFA +0.33 points	0.05%	0.38%
Hsbc Holdings PLCHSBA.L	QEFA +0.32 points	0.32%	0.64%
Itochu Corporation	QEFA +0.32 points	0.04%	0.36%
Danone	QEFA +0.30 points	0.03%	0.33%
Poste Italiane - Societa' Per Azioni	QEFA +0.28 points	0.02%	0.30%
Bridgestone Corp	QEFA +0.28 points	0.04%	0.32%
United Overseas Bank Ltd	QEFA +0.28 points	0.04%	0.32%
Central Japan Railway Company	QEFA +0.28 points	0.03%	0.31%
Deutsche Telekom AG	QEFA +0.27 points	0.10%	0.37%
Koninklijke Ahold Delhaize NV	QEFA +0.27 points	0.12%	0.39%
National Grid PLCNG.L	QEFA +0.25 points	0.04%	0.29%
Mitsubishi Ufj Financial Group	QEFA +0.25 points	0.21%	0.46%
Tesco PLCTSCO.L	QEFA +0.24 points	0.06%	0.30%
E.on SE	QEFA +0.24 points	0.02%	0.26%
Bank Leumi Le-Israel B.m.	QEFA +0.24 points	0.04%	0.28%
Anheuser-Busch Inbev	QEFA +0.24 points	0.05%	0.29%
Hong Kong Exchanges & Clear	QEFA +0.24 points	0.05%	0.29%
Honda Motor Co., Ltd.	QEFA +0.24 points	0.06%	0.30%
Singapore Exchange Ltd	QEFA +0.24 points	0.06%	0.30%
Fujitsu Limited	QEFA +0.23 points	0.03%	0.26%
Mercedes-Benz Group AG	QEFA +0.23 points	0.05%	0.28%
Omv AG	QEFA +0.22 points	0.03%	0.25%
Mitsubishi Corp.	QEFA +0.22 points	0.09%	0.31%
Otsuka Holdings Co., Ltd.	QEFA +0.22 points	0.07%	0.29%
Repsol Ypf SA	QEFA +0.21 points	0.07%	0.28%
Hoya Corp	QEFA +0.22 points	0.12%	0.34%
Banco Santander, S.a.	QEFA +0.21 points	0.22%	0.43%
Commonwealth Bank of Australia	QEFA +0.20 points	0.14%	0.34%
Enel Spa Eur 1	QEFA +0.19 points	0.05%	0.24%
Rheinmetall AG	QEFA +0.18 points	0.03%	0.21%
Caixabank, S.a.	QEFA +0.18 points	0.05%	0.23%
Anz Group Holdings Ltd	QEFA +0.18 points	0.04%	0.22%
Unicredit, Societa' Per Azioni	QEFA +0.18 points	0.11%	0.29%
Kioxia Holdings Corporation	GSWO +0.17 points	0.19%	0.02%
Barclays PLCBARC.L	QEFA +0.18 points	0.08%	0.26%
Endesa SA	QEFA +0.17 points	0.03%	0.20%
Telstra Group Ltd	QEFA +0.17 points	0.03%	0.20%
Astellas Pharma Inc.	QEFA +0.17 points	0.13%	0.30%
Elbit Systems	QEFA +0.16 points	0.04%	0.20%
Shin-Etsu Chemical	QEFA +0.17 points	0.05%	0.22%
Nippon Yusen Kabushiki Kaisha	QEFA +0.17 points	0.03%	0.20%
Swiss Re AG	QEFA +0.17 points	0.05%	0.22%
Mitsui & Co Ltd	QEFA +0.16 points	0.05%	0.21%
Genmab A/S	QEFA +0.16 points	0.03%	0.19%
Legal & General Group OrdLGEN.L	GSWO +0.16 points	0.20%	0.04%
Singapore Tech Engineering	QEFA +0.15 points	0.03%	0.18%
MS&AD Insurance Group Holdings	QEFA +0.15 points	0.07%	0.22%
Sumitomo Mitsui Fin Group, Inc	QEFA +0.16 points	0.17%	0.33%
United Mizrahi Bank ILS0.01	QEFA +0.15 points	0.02%	0.17%
Qbe Insurance Group Limited	QEFA +0.15 points	0.05%	0.20%
Westpac Banking Corporation	QEFA +0.14 points	0.04%	0.18%
Schindler Holding AG	QEFA +0.15 points	0.11%	0.26%
Standard Life PLCSDLF.L	GSWO +0.14 points	0.15%	<0.01%
Pan Pacific International Holdings Corporation	QEFA +0.14 points	0.03%	0.17%

All 712 GSWO holdings⁠All 624 QEFA 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.

GSWO vs QEFA Cost

Overpaying QEFA vs GSWO

$3,012

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

GSWO 0.15%
$3,137
QEFA 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

GSWO 0.15%
QEFA 0.30%
Overpaying

Year by year

Year	GSWO	QEFA	Overpaying
10	$274	$545	$271
20	$1,071	$2,113	$1,042
30	$3,137	$6,149	$3,012

Expense ratio

0.15%GSWO, cheaper
0.30%QEFA

GSWO0.15%QEFA0.30%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

GSWO cheapest of 30 funds

QEFA 12th cheapest of 30 funds

GSWO vs QEFA Dividends

Last 12 months to Nov 5, 2026

Yield (12M): GSWO 1.50%; QEFA 2.73%, better
Payout (12M): GSWO $0.93; QEFA $2.74
Last payment: GSWO $0.20; QEFA $1.50
Ex-dividend: GSWO Sep 24, 2026; QEFA Jun 1, 2026
Paid on: GSWO Sep 30, 2026; QEFA Jun 5, 2026
Frequency: GSWO Quarterly; QEFA Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

GSWOQuarterly · 18 paymentsAll GSWO payments⁠

QEFATwice a year · 19 paymentsAll QEFA payments⁠

GSWO vs QEFA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GSWO No dataQEFA 11.0%
Return per unit of riskSharpe ratio, 3 years: GSWO No dataQEFA 1.22
Worst fallMax drawdown, 5 years: GSWO No dataQEFA −27.3%
Market sensitivityBeta, 5 years: GSWO 0.75QEFA 0.80; Market = 1

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