Data as of Nov 4, 2026.
GSLC vs TCAF: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to TCAF's +14.1%; 37% 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 $8.0bn for T. Rowe Price Capital Appreciation Equity ETF.
Pair scorecard
GSLC costs 0.22 points a year less; their one-year returns differ by 0.8 points; GSLC is 1.9 times larger.
| Measure | GSLC | TCAF |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +14.1% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.09% | 0.31% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $8.0bn |
| Holdings | ||
| Holdings in common | 37% | |
| Top ten holdings, share of the fund | 35.2% | 40.9% |
Risk and return
Jun 23, 2023 to Oct 30, 2026 · 175 weekly returnsEach against its own benchmark: GSLC against VOO, Oct 2, 2015 to Oct 30, 2026; TCAF against IWV, Jun 23, 2023 to Oct 30, 2026.
From Jun 2023 to Oct 2026, GSLC returned slightly more: +76.1% to +73.5%. TCAF swung slightly less: 13.2% to 13.9%. TCAF fell less at its worst: −14.3% to −16.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | TCAF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +76.1% | +73.5% | GSLC (slight) | Price change plus distributions, reinvested. |
| Annualized | +18.3% | +17.8% | GSLC (slight) | Total return as a yearly rate. |
| Price return | +68.8% | +71.4% | TCAF (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.9% | 13.2% | TCAF (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.0% | 8.4% | TCAF (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.9% | −14.3% | TCAF | Deepest fall from a high to the low after it. |
| Upside capture | 96.6% | 87.2% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.3% | 92.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.89 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.92 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.95 | 0.96 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 1.47 | 1.51 | TCAF (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.123 | 0.142 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.08 | 1.24 | TCAF | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | IWV | The ETF each fund is measured against. | |
| Alpha | −0.7% a year | +0.3% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.43 | 0.17 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.7% to +0.3% | −3.7% to +4.4% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.49 | −0.28 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.6% | 4.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 175 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and TCAF hold 37% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
37% in common
Only in one fund ↓
Side by side
GSLC and TCAF 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%.
Over the year to Nov 4, 2026 it returned +14.1% with distributions reinvested, against +14.8% for its benchmark, the Russell 3000 Index.
TCAF is actively managed and tracks no index. The prospectus expense ratio is 0.31% a year. By its holdings filed for Jun 30, 2026, 84% of the fund by weight is stocks the S&P 500 also holds, across 90 positions, with the top ten at 40.9%.
Questions people ask
- Which returned more over the last year, GSLC or TCAF?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and TCAF +14.1%.
- Which is cheaper, GSLC or TCAF?
- GSLC is cheaper, by 0.22 percentage points a year. That is about $22 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 TCAF, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-tcaf
ETFIQ. (Nov 4, 2026). GSLC against TCAF. Retrieved from https://etfiq.com/compare/any/gslc-vs-tcaf
[GSLC against TCAF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/gslc-vs-tcaf)
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