GSIB vs VOO
Themes Global Systemically Important Banks ETF vs Vanguard S&P 500 ETF
Which is better, GSIB or VOO?
GSIB has been ahead.
VOO has a lower expense ratio. GSIB led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 37.1%.
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 | GSIB | VOO |
|---|---|---|
| Expense Ratio | 0.35% | 0.03%Best |
| AUM | $47M | $997.4B |
| Dividend Yield | 1.56% | 1.08% |
| Holdings | 32 | 509 |
| YTD Return | +24.59%Best | +13.81% |
| 1Y Return | +47.79%Best | +21.53% |
| 3Y Return (annualized) | - | +21.46% |
| 5Y Return (annualized) | - | +12.87% |
| Volatility (annualized) | 12.1% | 11.8%Best |
| Max Drawdown | -17.7%Best | -18.7% |
| $10,000 over 2.7 years | $28,117Best | $16,941 |
| Top 10 Weight | 37.1% | 36.4%Best |
| Fund Family | Themes ETFs | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 15, 2023 | Sep 7, 2010 |
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Dec 15, 2023 to Sep 3, 2026 (2.7 years).
GSIB vs VOO 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 2.7 years both funds cover.
GSIB vs VOO Performance
Themes Global Systemically Important Banks ETF (GSIB) is an ETF from Themes ETFs and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year GSIB returned +47.79% while VOO returned +21.53%. Year to date, GSIB is up 24.59% versus a gain of 13.81% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GSIB has been the more volatile fund, with annualized monthly volatility of 12.1% compared with 11.8% for VOO. 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 -17.7% for GSIB and -18.7% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GSIB charges 0.35% per year while VOO charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, GSIB currently yields 1.56% against 1.08% for VOO.
Holdings Overlap
27.6% of GSIB's money is in holdings VOO also owns. 3.6% of VOO's money is in holdings GSIB also owns.
GSIB and VOO share little of their money.
The two holdings books were reported 49 days apart, GSIB as of Aug 18, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
8 positions in common, counted across the 29 positions we hold weights for in GSIB and 505 in VOO, against full books of 32 and 509.
What only one of them owns
Our book lists 489 positions for VOO that do not appear in our book for GSIB (95.8% of the fund), and 5 for GSIB that do not appear in VOO (14.7%).
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 GSIB | Weight in VOO | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 3.55% | 1.26% | 2.29% |
| BACBank Of America Corp | 3.61% | 0.58% | 3.03% |
| BKBank Of New York Mellon Corp | 3.71% | 0.15% | 3.56% |
| STTState Street Corp. | 3.74% | 0.07% | 3.67% |
| WFCWells Fargo & Co. | 3.39% | 0.39% | 3.00% |
| GSGoldman Sachs Group Inc/The | 3.25% | 0.44% | 2.81% |
| MSMorgan Stanley | 3.22% | 0.39% | 2.83% |
| CCitigroup Inc. | 3.15% | 0.36% | 2.79% |
27.6% of GSIB is already inside VOO.
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, GSIB or VOO?
GSIB has an expense ratio of 0.35% while VOO charges 0.03%. VOO is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, GSIB or VOO?
Over the past year GSIB returned +47.79% vs +21.53% for VOO, so GSIB leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GSIB or VOO?
GSIB has been the more volatile fund at 12.1% annualized versus 11.8% for VOO. Worst drawdown: GSIB -17.7% vs VOO -18.7%.
Should I hold both GSIB and VOO?
GSIB and VOO have a monthly-return correlation of 0.52, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between GSIB and VOO?
27.6% of GSIB's money is in holdings VOO also owns. 3.6% of VOO's is in holdings GSIB also owns. They hold 8 positions in common, counted across the 29 positions we hold weights for in GSIB and 505 in VOO.
Which pays a higher dividend, GSIB or VOO?
GSIB yields 1.56% while VOO yields 1.08%, so GSIB currently pays the higher dividend yield.
Is VOO better than GSIB?
VOO has a lower expense ratio. GSIB led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 37.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.