DBEU vs GSEU
Xtrackers MSCI Europe Hedged Equity ETF vs Goldman Sachs ActiveBeta Europe Equity ETF
Which is better, DBEU or GSEU?
Each has led over a different period.
GSEU has a lower expense ratio. DBEU led over 1Y, 5Y and the full window, GSEU over 3Y. The two have moved almost in lockstep, correlation 0.90. GSEU is less concentrated, with 18.7% of the fund in its ten largest positions against 21.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DBEU | GSEU |
|---|---|---|
| Expense Ratio | 0.45% | 0.25%Best |
| AUM | $774M | $168M |
| Dividend Yield | 1.42% | 2.81% |
| Holdings | 410 | 680 |
| YTD Return | +9.83%Best | +4.55% |
| 1Y Return | +16.31%Best | +11.13% |
| 3Y Return (annualized) | +16.57% | +17.12%Best |
| 5Y Return (annualized) | +11.29%Best | +8.20% |
| Volatility (annualized) | 12.8%Best | 16.1% |
| Max Drawdown | -34.5%Best | -39.4% |
| $10,000 over 5 years | $17,072Best | $14,830 |
| Top 10 Weight | 21.5% | 18.7%Best |
| Fund Family | Xtrackers ETFs | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 1, 2013 | Mar 2, 2016 |
Volatility and max drawdown are measured over the window both funds cover: Mar 4, 2016 to Oct 14, 2026 (10.6 years).
DBEU vs GSEU growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 10.6 years both funds cover.
DBEU vs GSEU Performance
Xtrackers MSCI Europe Hedged Equity ETF (DBEU) is an ETF from Xtrackers ETFs and Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) is an ETF from Goldman Sachs Asset Management. Over the past year DBEU returned +16.31% while GSEU returned +11.13%. Year to date, DBEU is up 9.83% versus a gain of 4.55% for GSEU.
Over three years, DBEU compounded at +16.57% per year against +17.12% for GSEU; over five years the annualized figures are +11.29% and +8.20% respectively. Across the full 11-year window we track, DBEU has the edge at +10.98% annualized vs +7.52%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GSEU has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 12.8% for DBEU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.5% for DBEU and -39.4% for GSEU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DBEU charges 0.45% per year while GSEU charges 0.25%. On a $10,000 position that is $45 vs $25 annually, a gap of $20 per year that compounds over a long holding period. On income, DBEU currently yields 1.42% against 2.81% for GSEU.
Holdings Overlap
76.7% of DBEU's money is in holdings GSEU also owns. 82.2% of GSEU's money is in holdings DBEU also owns.
Most of GSEU is already inside DBEU. Owning both mostly buys the same companies twice.
282 positions in common, counted across the 386 positions we hold weights for in DBEU and 338 in GSEU, against full books of 410 and 680.
Top Shared Holdings
| Stock | Weight in DBEU | Weight in GSEU | Difference |
|---|---|---|---|
| ASML:ASAsml Holding Nv | 5.06% | 4.77% | 0.29% |
| HSBA:LNHsbc Holdings Plc | 2.31% | 2.05% | 0.26% |
| NOVN:SMNovartis Ag Ordinary Shares | 1.91% | 1.81% | 0.10% |
| SHEL:LNShell Plc Ord GBP0.07 | 2.02% | 1.59% | 0.43% |
| AZN:LNAstraZeneca PLC | 1.76% | 1.53% | 0.23% |
| SIEG.N:FFSiemens Ag | 1.59% | 1.26% | 0.33% |
| NESN:SMNestle Sa | 1.69% | 1.12% | 0.57% |
| ALVG:FFAllianz Se | 1.28% | 1.10% | 0.18% |
| BBVA:MABanco Bilbao Vizcaya Argentaria S.A. Reg Shs | 1.06% | 1.00% | 0.06% |
| SCHN:PASchneider Electric Se | 1.13% | 0.89% | 0.24% |
82.2% of GSEU is already inside DBEU.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, DBEU or GSEU?
DBEU has an expense ratio of 0.45% while GSEU charges 0.25%. GSEU is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, DBEU or GSEU?
Over the past year DBEU returned +16.31% vs +11.13% for GSEU, so DBEU leads on 1-year performance. Over the longest common window we track (11 years), DBEU annualized +10.98% vs +7.52% for GSEU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DBEU or GSEU?
GSEU has been the more volatile fund at 16.1% annualized versus 12.8% for DBEU. Worst drawdown: DBEU -34.5% vs GSEU -39.4%.
Should I hold both DBEU and GSEU?
DBEU and GSEU have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DBEU and GSEU?
82.2% of GSEU's money is in holdings DBEU also owns. 82.2% of GSEU's is in holdings DBEU also owns. They hold 282 positions in common, counted across the 386 positions we hold weights for in DBEU and 338 in GSEU.
Which pays a higher dividend, DBEU or GSEU?
DBEU yields 1.42% while GSEU yields 2.81%, so GSEU currently pays the higher dividend yield.
Is GSEU better than DBEU?
GSEU has a lower expense ratio. DBEU led over 1Y, 5Y and the full window, GSEU over 3Y. The two have moved almost in lockstep, correlation 0.90. GSEU is less concentrated, with 18.7% of the fund in its ten largest positions against 21.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.