Data as of Nov 4, 2026.
GSLC vs QVML: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to QVML's +16.4%; 69% 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 $1.7bn for Invesco S&P 500 QVM Multi-factor ETF.
Pair scorecard
GSLC costs 0.02 points a year less; their one-year returns differ by 3.1 points; GSLC is 9.0 times larger.
| Measure | GSLC | QVML |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +16.4% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | S&P 500 Quality, Value & Momentum Top 90% Multi-Factor Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.11% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $1.7bn |
| Holdings | ||
| Holdings in common | 69% | |
| Top ten holdings, share of the fund | 35.2% | 41.3% |
Risk and return
Jul 9, 2021 to Oct 30, 2026 · 277 weekly returns · each against VOOFrom Jul 2021 to Oct 2026, QVML returned more: +89.5% to +76.6%. GSLC and QVML swung about the same: 15.8% and 15.6%. QVML fell slightly less at its worst: −22.8% to −24.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | QVML | VOO | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +76.6% | +89.5% | QVML | Price change plus distributions, reinvested. | |
| Annualized | +11.3% | +12.7% | QVML | Total return as a yearly rate. | |
| Price return | +65.1% | +76.5% | QVML | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 15.8% | 15.6% | Tie | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 10.6% | 10.5% | Tie | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −24.5% | −22.8% | QVML (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 96.2% | 96.9% | 100.0% | Tie | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 99.7% | 97.8% | 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 | 0.99 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.52 | 0.61 | QVML | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.77 | 0.91 | QVML | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.083 | 0.097 | 0.093 | QVML | Return above Treasury bills per unit of beta. |
| Calmar | 0.46 | 0.56 | QVML | 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 | +0.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.53 | 0.65 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.2% to +0.3% | −0.9% to +1.7% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.73 | 0.16 | QVML | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.5% | 1.5% | 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, 277 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and QVML hold 69% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.
half
69% in common
Only in one fund ↓
Side by side
GSLC and QVML 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%.
QVML
QVML tracks an index. Over the year to Nov 4, 2026 it returned +16.4% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.11% a year. By its holdings published by its issuer for Nov 3, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 437 positions, with the top ten at 41.3%.
Questions people ask
- Which returned more over the last year, GSLC or QVML?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and QVML +16.4%.
- Which is cheaper, GSLC or QVML?
- GSLC is cheaper, by 0.02 percentage points a year. That is about $2 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 QVML, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-qvml
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