Data as of Nov 4, 2026.
DSPY vs GSLC: Differences, Returns & Fees
Over the year to Nov 4, 2026, DSPY returned +17.7% to GSLC's +13.3%; 64% of their weight is in the same names.
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Net assets on Nov 3, 2026: $1.0bn for Tema S&P 500 Historical Weight ETF Strategy and $15.3bn for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF.
Pair scorecard
GSLC costs 0.09 points a year less; their one-year returns differ by 4.4 points; GSLC is 15.3 times larger.
| Measure | DSPY | GSLC |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.7% | +13.3% |
| Benchmark | ||
| What it tracks | No index, actively managed | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index |
| Cost and size | ||
| Expense ratio | 0.18% | 0.09% |
| Net assets, as of Nov 3, 2026 | $1.0bn | $15.3bn |
| Holdings | ||
| Holdings in common | 64% | |
| Top ten holdings, share of the fund | 21.2% | 35.2% |
Risk and return
Apr 11, 2025 to Oct 30, 2026 · 81 weekly returns · each against VOOFrom Apr 2025 to Oct 2026, DSPY returned slightly more: +42.6% to +39.7%. DSPY swung slightly less: 11.3% to 12.4%. DSPY fell less at its worst: −6.8% to −9.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | DSPY | GSLC | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +42.6% | +39.7% | DSPY (slight) | Price change plus distributions, reinvested. | |
| Annualized | +25.6% | +23.9% | DSPY (slight) | Total return as a yearly rate. | |
| Price return | +40.6% | +37.5% | DSPY (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 11.3% | 12.4% | DSPY (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.1% | 6.7% | DSPY (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −6.8% | −9.1% | DSPY | Deepest fall from a high to the low after it. | |
| Upside capture | 85.3% | 92.8% | 100.0% | GSLC (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 86.5% | 98.7% | 100.0% | DSPY | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.86 | 0.97 | 1.00 | DSPY lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.93 | 0.98 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.72 | 1.47 | DSPY | Return above Treasury bills per unit of volatility. | |
| Sortino | 3.18 | 2.74 | DSPY | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.227 | 0.189 | 0.204 | DSPY | Return above Treasury bills per unit of beta. |
| Calmar | 3.76 | 2.64 | DSPY | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | VOO | VOO | VOO | The ETF each fund is measured against. | |
| Alpha | +2.0% a year | −1.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.83 | −1.12 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.8% to +6.7% | −4.0% to +1.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.26 | −1.28 | DSPY | Return against its benchmark per unit of tracking error. | |
| Tracking error | 3.4% | 1.6% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 81 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DSPY and GSLC hold 64% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
64% in common
Only in one fund ↓
Side by side
DSPY and GSLC on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
Client brief:
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DSPY
DSPY is actively managed and tracks no index. Over the year to Nov 4, 2026 it returned +17.7% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Total Return Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Nov 3, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 21.2%.
GSLC
GSLC tracks an index. Over the year to Nov 4, 2026 it returned +13.3% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings filed for Aug 31, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 426 positions, with the top ten at 35.2%.
Questions people ask
- Which returned more over the last year, DSPY or GSLC?
- In the year to Nov 4, 2026, with distributions reinvested, DSPY returned +17.7% and GSLC +13.3%.
- Which is cheaper, DSPY or GSLC?
- GSLC is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, DSPY against GSLC, data as of Nov 4, 2026. https://etfiq.com/compare/any/dspy-vs-gslc
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[DSPY against GSLC (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/dspy-vs-gslc)
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