GSEU vs RFEU
Goldman Sachs ActiveBeta Europe Equity ETF vs First Trust RiverFront Dynamic Europe ETF
Which is better, GSEU or RFEU?
Nearly the same fund. GSEU costs less.
GSEU has a lower expense ratio. RFEU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. GSEU is less concentrated, with 18.7% of the fund in its ten largest positions against 27.5%.
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 | GSEU | RFEU |
|---|---|---|
| Expense Ratio | 0.25%Best | 0.83% |
| AUM | $168M | $8M |
| Dividend Yield | 2.81% | 4.64% |
| Holdings | 680 | 91 |
| Volatility (annualized) | 16.3% | 16.1%Best |
| Max Drawdown | -39.4%Best | -42.9% |
| $10,000 over 9.8 years | $20,463 | $20,500Best |
| Top 10 Weight | 18.7%Best | 27.5% |
| Fund Family | Goldman Sachs Asset Management | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 2, 2016 | Apr 14, 2016 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 264 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. GSEU has data through Oct 14, 2026 and RFEU through Jan 23, 2026.
Volatility and max drawdown, and the $10,000 over 9.8 years row, are measured over the window both funds cover: Apr 14, 2016 to Jan 23, 2026 (9.8 years).
Risk: Volatility and Drawdowns
GSEU has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 16.1% for RFEU. 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 -39.4% for GSEU and -42.9% for RFEU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GSEU charges 0.25% per year while RFEU charges 0.83%. On a $10,000 position that is $25 vs $83 annually, a gap of $58 per year that compounds over a long holding period. On income, GSEU currently yields 2.81% against 4.64% for RFEU.
Holdings Overlap
24.8% of GSEU's money is in holdings RFEU also owns. 51.6% of RFEU's money is in holdings GSEU also owns.
The two portfolios partly overlap.
The two holdings books were reported 335 days apart, GSEU as of Oct 1, 2026 and RFEU as of Oct 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
37 positions in common, counted across the 338 positions we hold weights for in GSEU and 86 in RFEU, against full books of 680 and 91.
What only one of them owns
Our book lists 1 positions for RFEU that do not appear in our book for GSEU (7.2% of the fund), and 2 for GSEU that do not appear in RFEU (2.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in GSEU | Weight in RFEU | Difference |
|---|---|---|---|
| ASML:ASASML Holding NV - Ordinary Shares | 4.77% | 4.75% | 0.02% |
| NOVN:SMNovartis Ag Ordinary Shares | 1.81% | 3.00% | 1.19% |
| NESN:SMNestle S.A. Ordinary Shares | 1.12% | 2.87% | 1.75% |
| SHEL:LNShell Plc Ord GBP0.07 | 1.59% | 2.06% | 0.47% |
| ALVG:FFAllianz Se | 1.10% | 2.46% | 1.36% |
| HSBA:LNHsbc Holdings Plc | 2.05% | 1.44% | 0.61% |
| TTETotalEnergies SE SPONSORED ADS | 0.91% | 1.91% | 1.00% |
| AZN:LNAstrazeneca Plc | 1.53% | 1.12% | 0.41% |
| GSK:LNGSK plc | 0.76% | 1.80% | 1.04% |
| ULVR:LNUnilever Plc Ord Gbp.0311 | 0.48% | 2.08% | 1.60% |
51.6% of RFEU is already inside GSEU.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GSEU or RFEU?
GSEU has an expense ratio of 0.25% while RFEU charges 0.83%. GSEU is the cheaper option, by $58 a year on a $10,000 investment.
Which is riskier, GSEU or RFEU?
GSEU has been the more volatile fund at 16.3% annualized versus 16.1% for RFEU. Worst drawdown: GSEU -39.4% vs RFEU -42.9%.
Should I hold both GSEU and RFEU?
GSEU and RFEU have a monthly-return correlation of 0.96, 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 GSEU and RFEU?
51.6% of RFEU's money is in holdings GSEU also owns. 51.6% of RFEU's is in holdings GSEU also owns. They hold 37 positions in common, counted across the 338 positions we hold weights for in GSEU and 86 in RFEU.
Which pays a higher dividend, GSEU or RFEU?
GSEU yields 2.81% while RFEU yields 4.64%, so RFEU currently pays the higher dividend yield.
Is RFEU better than GSEU?
GSEU has a lower expense ratio. RFEU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. GSEU is less concentrated, with 18.7% of the fund in its ten largest positions against 27.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.