Data as of Nov 4, 2026.
GSLC vs JPEF: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to JPEF's +10.0%; 38% of their weight is in the same names.
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Net assets on Nov 3, 2026: $15.3bn for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF and $2.0bn for JPMorgan Equity Focus ETF.
Pair scorecard
GSLC costs 0.35 points a year less; their one-year returns differ by 3.3 points; GSLC is 7.7 times larger.
| Measure | GSLC | JPEF |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +10.0% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.09% | 0.44% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $2.0bn |
| Holdings | ||
| Holdings in common | 38% | |
| Top ten holdings, share of the fund | 35.2% | 43.8% |
Risk and return
Aug 11, 2023 to Oct 30, 2026 · 168 weekly returns · each against VOOFrom Aug 2023 to Oct 2026, GSLC returned slightly more: +70.5% to +68.6%. GSLC and JPEF swung about the same: 14.0% and 14.1%. GSLC and JPEF fell about the same at their worst: −16.9% and −17.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | JPEF | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +70.5% | +68.6% | GSLC (slight) | Price change plus distributions, reinvested. | |
| Annualized | +18.0% | +17.6% | GSLC (slight) | Total return as a yearly rate. | |
| Price return | +64.1% | +65.6% | JPEF (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 14.0% | 14.1% | Tie | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 9.1% | 9.1% | Tie | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −16.9% | −17.1% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 96.3% | 94.5% | 100.0% | Tie | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 99.9% | 99.2% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.99 | 0.98 | 1.00 | Tie | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.96 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.93 | 0.90 | GSLC (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.43 | 1.39 | GSLC (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.132 | 0.129 | 0.142 | Tie | Return above Treasury bills per unit of beta. |
| Calmar | 1.06 | 1.03 | GSLC (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | VOO | VOO | VOO | The ETF each fund is measured against. | |
| Alpha | −1.0% a year | −1.2% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.19 | −0.79 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.6% to +0.7% | −4.3% to +1.8% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.78 | −0.54 | JPEF | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.5% | 2.8% | 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, 168 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and JPEF hold 38% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
38% in common
Only in one fund ↓
Side by side
GSLC and JPEF on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
Client brief:
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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%.
JPEF
JPEF is actively managed and tracks no index. Over the year to Nov 4, 2026 it returned +10.0% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.44% a year. By its holdings published by its issuer for Nov 3, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 40 positions, with the top ten at 43.8%.
Questions people ask
- Which returned more over the last year, GSLC or JPEF?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and JPEF +10.0%.
- Which is cheaper, GSLC or JPEF?
- GSLC is cheaper, by 0.35 percentage points a year. That is about $35 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, GSLC against JPEF, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-jpef
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[GSLC against JPEF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/gslc-vs-jpef)
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