GSWO vs RWIN: Grades, Fees and Holdings Compared

Goldman Sachs ActiveBeta World Equity ETF

GSWOACboe

Rayliant NxtGen Multifactor International Equity ETF

RWINDNasdaq

Overlap

8.1%by weight

Expense ratio

GSWO −0.27pt a year

GSWO0.15%RWIN0.42%

Avg volume · 30D

GSWO 89.4×the volume

GSWO64KRWIN716

GSWO vs RWIN Performance

Jul 31, 2026 – Oct 30, 2026

+0.5%GSWO+0.7%RWIN

Expense ratio: GSWO 0.15%, better; RWIN 0.42%
Fund size: GSWO $1.79B; RWIN $20M
Yield (12M): GSWO 1.46%; RWIN No data
Holdings: GSWO 751; RWIN 171
Avg volume (30D): GSWO 64K sh, better; RWIN 716 sh
NAV per share: GSWO $64.95; RWIN $27.34
52W range

ETF.net Grade

Pillar letters and Scores for GSWO, RWIN, with each pillar’s weight
Pillar	GSWO	RWIN
Cost30% weight	A98Higher	D28
Mission25% weight	Not scored	Not scored
Risk15% weight	B67	A89Higher
Tradability15% weight	A86Higher	F19
Holdings10% weight	F22	D36Higher
Durability5% weight	B62Higher	F20

Rank among International Multifactor funds

How we build Categories ›

Same Category. GSWO and RWIN 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 RWIN 21st 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 21DFDTFirst Trust Developed Markets ex-US AlphaDEX FundScore 38
Rank 21DRWINRayliant NxtGen Multifactor International Equity ETFScore 38
Rank 23DDWMFWisdomTree International Multifactor FundScore 37

Our read on each fund

ETF.net Research

GSWOAGoldman Sachs ActiveBeta World Equity ETF

RWINDRayliant NxtGen Multifactor International Equity 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.

RWIN Rayliant's quant house fills the gap in its NxtGen lineup: developed markets outside the US, sorted by factor models instead of market cap. It arrived in 2026 charging 0.42% into an aisle stacked with cheap, entrenched rivals.

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.

RWIN The Fund seeks long-term capital appreciation.

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.

RWIN Completes Rayliant's NxtGen trio. Alongside the firm's US and emerging-markets multifactor funds, it lets you build a global factor sleeve on one shop's models.sec.gov
One fee, no fine print. The prospectus fee table shows the 0.42% management fee as the entire tab, with no 12b-1 distribution charge stacked on top.sec.gov
Factor-driven, not cap-weighted. Stocks are selected and sized on multifactor signals, so the portfolio doesn't default to whichever foreign mega-caps got biggest.

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.

RWIN At 0.42% it prices above the peer median of 0.38% and well above established options like INTF at 0.16% and FDEV at 0.18%. The models have to earn that gap.
Small and thinly traded. Spreads can run wide, so execution matters more here than in a mega-fund with constant two-way flow.
It opened in 2026, so there's no long live record, and it sits at the back of a peer group led by older, cheaper factor funds with deep asset bases.

Full GSWO profile⁠

Full RWIN profile⁠

GSWO vs RWIN Holdings

How GSWO and RWIN differ

Overlap by weight

8.1%

Shared holdings make up 69.1% of RWIN and 8.3% of GSWO.

Level by level

Holdings96 in both8.1%
Countryby domicile30.5%
Asset classEquity100%

Sector

No Sector split for GSWO and RWIN.

Country, concentration and asset class

Country by domicile

Country weights in GSWO and RWIN, widest gap first
Country	More in GSWOMore in RWIN	GSWO	RWIN
United States	GSWO +66.7 points	69.3%	2.6%
Japan	RWIN +14.7 points	8.5%	23.2%
Canada	RWIN +10.9 points	3.3%	14.2%
Germany	RWIN +8.1 points	1.8%	9.9%
Switzerland	RWIN +6.7 points	2.5%	9.2%
United Kingdom	RWIN +6.6 points	3.1%	9.7%
Netherlands	RWIN +5.4 points	1.3%	6.7%
France	RWIN +4.5 points	1.4%	5.9%
Other countries (19)	RWIN +9.9 points	8.8%	18.7%

Outside the US: GSWO 95% developed, 5% emerging. RWIN 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

GSWO27.5%
RWIN20.3%

Securities held

GSWO740
RWIN170

Asset class

GSWO: Equity
RWIN: Equity

Holdings

Only in GSWO644
In both96
Only in RWIN74

Only in GSWO

644 securities, 91.3% of GSWO by weight

NVIDIA Corporation5.65%
Apple Inc.5.62%
Microsoft Corporation4.24%
Amazon.com Inc2.60%
Alphabet Inc.1.85%
Broadcom Inc.1.76%
Alphabet Inc.1.60%
Meta Platforms Inc-Class A1.52%
Eli Lilly & Co1.35%
Tesla Inc.1.32%
Micron Technology, Inc.1.27%
JPMorgan Chase & Co1.02%
Advanced Micro Devices Inc.1.02%
Visa Inc.0.80%
Exxonmobil Holdings Corporation0.80%
Berkshire Hathaway Inc.0.77%
Johnson & Johnson0.74%
Walmart Inc0.66%
Mastercard Incorporated0.60%
AbbVie Inc.0.57%
Costco Wholesale Corporation0.50%
Cisco Systems, Inc.0.48%
Palantir Technologies Inc.0.46%
UnitedHealth Group Incorporated0.45%
Intel Corporation0.44%
Chevron Corporation0.44%
Lam Research Corporation0.41%
Coca-Cola Company (The)0.41%
Merck & Co., Inc.0.38%
Applied Materials Inc0.37%
The Home Depot, Inc.0.37%
The Procter & Gamble Company0.37%
Bank of America Corp0.36%
Novartis AG Shs0.34%
General Electric Company0.34%
Palo Alto Networks Inc.0.33%
Philip Morris Intl Inc0.32%
Caterpillar Inc (Delaware)0.32%
Hsbc Holdings PLC0.31%
Kla Corp0.31%
Texas Instruments Inc.0.30%
Royal Bank of Canada0.29%
Wells Fargo & Company0.29%
Astrazeneca PLC Ord0.28%
Citigroup Inc.0.28%
Seagate Technology Holdin PLC0.28%
Rtx Corp0.27%
Toronto Dominion Bank0.27%
Ge Vernova Llc0.27%
Morgan Stanley0.26%

Only in RWIN

74 securities, 30.9% of RWIN by weight

Basf S.e.1.54%
Spotify Technology S.A.1.36%
Vestas Wind Systems A/S1.07%
NN Group N.V.1.03%
Merck KGaA0.98%
Swiss Life Holding A.G.0.84%
Koninklijke KPN N.V.0.81%
InterContinental Hotels Group plc0.78%
AerCap Holdings N.V.0.75%
Deutsche Boerse A.G.0.72%
Volkswagen A.G.0.72%
Barrick Mining Corporation0.65%
Kinross Gold Corporation0.63%
Roche Holding A.G.0.63%
iA Financial Corp, Inc.0.60%
Logitech International S.A.0.59%
Henkel A.G. & Company KGaA0.59%
Amadeus IT Group S.A.0.56%
Hydro One Ltd.0.55%
Orion OYJ0.54%
Rogers Communications, Inc.0.50%
Kirin Holdings Company Ltd.0.49%
Bbh Sweep Vehicle0.49%
Neste OYJ0.49%
Shopify, Inc.0.48%
APA Group0.46%
Denso Corporation0.45%
Glencore plc0.45%
Aegon Ltd.0.44%
Yamaha Motor Company Ltd.0.42%
Medibank Pvt Ltd.0.42%
Belimo Holding A.G.0.42%
Magnum Ice Cream Company N.V. (The)0.42%
Wartsila OYJ Abp0.41%
Raiffeisen Bank International A.G.0.39%
Tele2 A.B.0.37%
West Japan Railway Company0.35%
Henkel A.G. & Company KGaA0.32%
Millicom International Cellular S.A.0.32%
Saputo, Inc.0.31%
Telefonaktiebolaget LM Ericsson0.30%
Vicinity Centres0.30%
Canadian Tire Corp Ltd.0.29%
AGC, Inc.0.29%
International Consolidated Airlines Group S.A.0.28%
Yokogawa Electric Corporation0.27%
Pilbara Minerals Ltd.0.27%
BE Semiconductor Industries N.V.0.27%
Restaurant Brands International, Inc.0.26%
Otsuka Corporation0.26%

Weight gaps

All 96 Holdings in both funds, largest gap first.

Holding weights in GSWO and RWIN, widest gap first
Holding	More in GSWOMore in RWIN	GSWO	RWIN
Roche Holding AG	RWIN +2.60 points	0.39%	2.99%
Suncor Energy Inc.	RWIN +2.27 points	0.14%	2.41%
Axa	RWIN +2.03 points	0.08%	2.11%
Allianz SE	RWIN +1.93 points	0.17%	2.10%
MS&AD Insurance Group Holdings	RWIN +1.68 points	0.07%	1.75%
Daiichi Life Group Inc	RWIN +1.66 points	0.06%	1.72%
Power Corp Canada (Com)	RWIN +1.56 points	0.06%	1.62%
Advantest Corp	RWIN +1.55 points	0.32%	1.87%
Repsol Ypf SA	RWIN +1.51 points	0.06%	1.57%
Galderma Group AG	RWIN +1.45 points	0.02%	1.47%
Asml Holding N.v.	RWIN +1.44 points	0.75%	2.19%
Danske Bank AG DKK100	RWIN +1.42 points	0.05%	1.47%
Sanofi	RWIN +1.30 points	0.04%	1.34%
Rio Tinto Limited	RWIN +1.19 points	0.03%	1.22%
Imperial Brands PLCIMB.L	RWIN +1.16 points	0.02%	1.18%
Abn Amro Bank N.v.	RWIN +1.14 points	0.05%	1.19%
Vodafone Group PLCVOD.L	RWIN +1.12 points	0.09%	1.21%
Bridgestone Corp	RWIN +1.10 points	0.04%	1.14%
Recruit Holdings Co., Ltd.	RWIN +1.09 points	0.33%	1.42%
Loblaw Cos Ltd	RWIN +1.07 points	0.09%	1.16%
Astellas Pharma Inc.	RWIN +1.07 points	0.15%	1.22%
Sumitomo Mitsui Trust Group Inc	RWIN +1.06 points	0.05%	1.11%
Fairfax Financial Hldgs Ltd	RWIN +1.04 points	0.07%	1.11%
Genmab A/S	RWIN +1.05 points	0.06%	1.11%
Rolls-Royce Holdings PLCRR.L	RWIN +1.02 points	0.11%	1.13%
Japan Post Holdings Co. Ltd.	RWIN +0.98 points	0.06%	1.04%
Gsk PLCGSK.L	RWIN +0.95 points	0.13%	1.08%
Eneos Holdings, Inc.	RWIN +0.92 points	0.07%	0.99%
Mercedes-Benz Group AG	RWIN +0.91 points	0.05%	0.96%
Coles Group Limited	RWIN +0.88 points	0.11%	0.99%
Legal & General Group OrdLGEN.L	RWIN +0.86 points	0.07%	0.93%
Safran SA	RWIN +0.83 points	0.06%	0.89%
Kioxia Holdings Corporation	RWIN +0.79 points	0.13%	0.92%
Abb Ltd	RWIN +0.77 points	0.14%	0.91%
Central Japan Railway Company	RWIN +0.76 points	0.03%	0.79%
Aristocrat Leisure Limited	RWIN +0.76 points	0.07%	0.83%
Asics Corp	RWIN +0.74 points	0.10%	0.85%
Constellation Software Inc	RWIN +0.71 points	0.14%	0.85%
Societe Generale	RWIN +0.70 points	0.07%	0.77%
Magna International Inc.	RWIN +0.64 points	0.07%	0.71%
Great West Life Co Inc	RWIN +0.64 points	0.07%	0.71%
Telstra Group Ltd	RWIN +0.56 points	0.03%	0.59%
Poste Italiane - Societa' Per Azioni	RWIN +0.52 points	0.02%	0.54%
Omv AG	RWIN +0.50 points	0.03%	0.53%
Ageas Sa/Nv	RWIN +0.50 points	0.04%	0.54%
Admiral Group PLCADM.L	RWIN +0.48 points	0.09%	0.57%
Standard Chartered PLCSTAN.L	RWIN +0.47 points	0.09%	0.56%
Osaka Gas Co., Ltd.	RWIN +0.47 points	0.06%	0.53%
George Weston Limited	RWIN +0.46 points	0.04%	0.50%
M&G PLCMNG.L	RWIN +0.42 points	0.02%	0.44%
Sompo Holdings, Inc.	RWIN +0.41 points	0.10%	0.51%
Tenaris S.a.	RWIN +0.40 points	0.03%	0.43%
Qbe Insurance Group Limited	RWIN +0.40 points	0.05%	0.45%
Sbi Holdings, Inc.	RWIN +0.39 points	0.04%	0.43%
Banco Comercial Portugues, S.a	RWIN +0.38 points	0.03%	0.41%
Unipol Assicurazioni S.p.a.	RWIN +0.38 points	0.05%	0.43%
Sage Group Plc. (The)SGE.L	RWIN +0.36 points	0.10%	0.46%
Talanx Aktiengesellschaft	RWIN +0.33 points	0.04%	0.37%
Mitsubishi Chemical Group Corporation	RWIN +0.33 points	0.06%	0.39%
Sitc International Holdings Company Ltd	RWIN +0.32 points	0.04%	0.36%
Ubs Group AG	RWIN +0.29 points	0.16%	0.45%
Siemens Energy AG	RWIN +0.28 points	0.11%	0.39%
Otsuka Holdings Co., Ltd.	RWIN +0.26 points	0.10%	0.36%
Idemitsu Kosan Co.,ltd.	RWIN +0.26 points	0.06%	0.32%
Pro Medicus Limited	RWIN +0.25 points	0.08%	0.33%
Kingfisher PLCKGF.L	RWIN +0.22 points	0.12%	0.34%
Aisin Seiki Co Ltd	RWIN +0.22 points	0.04%	0.26%
Japan Post Insurance Co., Ltd	RWIN +0.20 points	0.05%	0.25%
Evolution Mining Limited	RWIN +0.19 points	0.03%	0.22%
Fresnillo PLCFRES.L	RWIN +0.18 points	0.06%	0.24%
Banca Mediolanum S.p.a.	RWIN +0.18 points	0.05%	0.23%
Celestica Inc.	RWIN +0.17 points	0.02%	0.19%
Inpex Corporation	RWIN +0.17 points	0.07%	0.24%
Prosus N.v.	RWIN +0.17 points	0.02%	0.19%
Shell PLCSHEL.L	GSWO +0.17 points	0.28%	0.11%
Kawasaki Kisen Kaisha, Ltd.	RWIN +0.16 points	0.05%	0.21%
Tokyo Gas Co., Ltd	RWIN +0.15 points	0.05%	0.20%
Infineon Technologies AG	RWIN +0.14 points	0.08%	0.22%
Bp PLCBP.L	RWIN +0.14 points	0.16%	0.30%
Orix Corporation	RWIN +0.13 points	0.05%	0.18%
Muenchener Rueckvers.ges.ag	RWIN +0.11 points	0.07%	0.18%
Continental AG	RWIN +0.11 points	0.02%	0.13%
Empire Co Ltd Cl-A	RWIN +0.10 points	0.08%	0.18%
Fujitsu Limited	RWIN +0.09 points	0.04%	0.13%
Fujikura Ltd.	RWIN +0.08 points	0.05%	0.13%
Mitsui Kinzoku	RWIN +0.08 points	0.05%	0.13%
Dhl Group	RWIN +0.08 points	0.18%	0.26%
Smith & Nephew PLCSN.L	RWIN +0.06 points	0.03%	0.09%
Aeon Co., Ltd	RWIN +0.04 points	0.03%	0.07%
Sumitomo Electric Industries, Ltd	RWIN +0.03 points	0.05%	0.08%
Tokyo Electron Ltd	GSWO +0.03 points	0.15%	0.12%
Lundin Gold Inc.	GSWO +0.02 points	0.13%	0.11%
Emera Incorporated	RWIN +0.02 points	0.04%	0.06%
Pan Pacific International Holdings Corporation	RWIN +0.02 points	0.03%	0.05%
Gjensidige Forsikring Asa	Same weight	0.02%	0.02%
Jx Advanced Metals Corporation	Same weight	0.04%	0.04%

All 741 GSWO holdings⁠All 172 RWIN 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 RWIN Cost

Overpaying RWIN vs GSWO

$5,335

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

GSWO 0.15%
$3,137
RWIN 0.42%
$8,472

Amount$10,000

Years30 years

Cost over time

GSWO 0.15%
RWIN 0.42%
Overpaying

Year by year

Year	GSWO	RWIN	Overpaying
10	$274	$759	$485
20	$1,071	$2,927	$1,856
30	$3,137	$8,472	$5,335

Expense ratio

0.15%GSWO, cheaper
0.42%RWIN

GSWO0.15%RWIN0.42%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

GSWO cheapest of 30 funds

RWIN 22nd cheapest of 30 funds

GSWO vs RWIN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSWO 1.46%; RWIN No data
Payout (12M): GSWO $0.93; RWIN No data
Last payment: GSWO $0.20; RWIN $0.05
Ex-dividend: GSWO Sep 24, 2026; RWIN Sep 29, 2026
Paid on: GSWO Sep 30, 2026; RWIN Oct 1, 2026
Frequency: GSWO Quarterly; RWIN Quarterly

Distribution history

Per share, 2022 to 2026, same scale for both

GSWOQuarterly · 18 paymentsAll GSWO payments⁠

RWINQuarterly · 2 paymentsAll RWIN payments⁠

GSWO vs RWIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years: GSWO 0.75RWIN 0.02; Market = 1

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