Data as of Nov 4, 2026.
GSLC vs USCL: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to USCL's +10.5%; 69% of their weight is in the same names.
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Net assets: $15.3bn on Nov 3, 2026 for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF, and $2.7bn on Nov 4, 2026 for iShares Climate Conscious & Transition MSCI USA ETF.
Pair scorecard
USCL costs 0.01 points a year less; their one-year returns differ by 2.8 points; GSLC is 5.7 times larger.
| Measure | GSLC | USCL |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +10.5% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | MSCI USA Extended Climate Action Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.08% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $2.7bn |
| Holdings | ||
| Holdings in common | 69% | |
| Top ten holdings, share of the fund | 35.2% | 44.8% |
Risk and return
Jun 16, 2023 to Oct 30, 2026 · 176 weekly returnsEach against its own benchmark: GSLC against VOO, Oct 2, 2015 to Oct 30, 2026; USCL against PBUS, Jun 16, 2023 to Oct 30, 2026.
From Jun 2023 to Oct 2026, GSLC returned slightly more: +73.6% to +71.4%. GSLC swung slightly less: 13.9% to 14.2%. GSLC and USCL fell about the same at their worst: −16.9% and −17.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | USCL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +73.6% | +71.4% | GSLC (slight) | Price change plus distributions, reinvested. |
| Annualized | +17.7% | +17.3% | GSLC (slight) | Total return as a yearly rate. |
| Price return | +66.5% | +64.6% | GSLC (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.9% | 14.2% | GSLC (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.0% | 9.2% | GSLC (slight) | 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 | 96.6% | 98.6% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.3% | 101.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.99 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.98 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.92 | 0.87 | GSLC (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.41 | 1.35 | GSLC (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.123 | 0.125 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.04 | 1.01 | GSLC (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | PBUS | The ETF each fund is measured against. | |
| Alpha | −0.7% a year | −1.2% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.43 | −1.06 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.7% to +0.3% | −3.5% to +1.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.49 | −0.63 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.6% | 2.1% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 176 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and USCL 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 USCL 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%.
USCL
USCL tracks an index. Over the year to Nov 4, 2026 it returned +10.5% with distributions reinvested, against +14.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.08% 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 390 positions, with the top ten at 44.8%.
Questions people ask
- Which returned more over the last year, GSLC or USCL?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and USCL +10.5%.
- Which is cheaper, GSLC or USCL?
- USCL is cheaper, by 0.01 percentage points a year. That is about $1 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 USCL, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-uscl
ETFIQ. (Nov 4, 2026). GSLC against USCL. Retrieved from https://etfiq.com/compare/any/gslc-vs-uscl
[GSLC against USCL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/gslc-vs-uscl)
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