Data as of Nov 4, 2026.
GSLC vs USPX: Differences, Returns & Fees
Over the year to Nov 4, 2026, GSLC returned +13.3% to USPX's +14.0%; 74% 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 Franklin U.S. Equity Index ETF.
Pair scorecard
USPX costs 0.06 points a year less; their one-year returns differ by 0.7 points; GSLC is 7.7 times larger.
| Measure | GSLC | USPX |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.3% | +14.0% |
| Benchmark | ||
| What it tracks | Goldman Sachs ActiveBeta U.S. Large Cap Equity Index | Morningstar US Target Market Exposure Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.03% |
| Net assets, as of Nov 3, 2026 | $15.3bn | $2.0bn |
| Holdings | ||
| Holdings in common | 74% | |
| Top ten holdings, share of the fund | 35.2% | 36.2% |
Risk and return
Jun 10, 2016 to Oct 30, 2026 · 542 weekly returnsEach against its own benchmark: GSLC against VOO, Oct 2, 2015 to Oct 30, 2026; USPX against BBUS, Mar 22, 2019 to Oct 30, 2026.
From Jun 2016 to Oct 2026, GSLC returned more: +298.1% to +234.0%. USPX swung slightly less: 15.4% to 16.8%. USPX fell slightly less at its worst: −30.3% to −31.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | GSLC | USPX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +298.1% | +234.0% | GSLC | Price change plus distributions, reinvested. |
| Annualized | +14.2% | +12.3% | GSLC | Total return as a yearly rate. |
| Price return | +240.8% | +158.9% | GSLC | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.8% | 15.4% | USPX (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.6% | 10.8% | USPX (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −31.8% | −30.3% | USPX (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 96.6% | 81.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.3% | 93.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.88 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.94 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.73 | 0.67 | GSLC (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.05 | 0.96 | GSLC (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.123 | 0.121 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.45 | 0.40 | GSLC (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | BBUS | The ETF each fund is measured against. | |
| Alpha | −0.7% a year | −1.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.43 | −0.70 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.7% to +0.3% | −4.0% to +1.9% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.49 | −0.56 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.6% | 4.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 542 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, GSLC and USPX hold 74% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
74% in common
Only in one fund ↓
Side by side
GSLC and USPX 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%.
USPX
USPX tracks an index. Over the year to Nov 4, 2026 it returned +14.0% with distributions reinvested, against +14.0% for its benchmark, the Morningstar US Target Market Exposure Index. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 468 positions, with the top ten at 36.2%.
Questions people ask
- Which returned more over the last year, GSLC or USPX?
- In the year to Nov 4, 2026, with distributions reinvested, GSLC returned +13.3% and USPX +14.0%.
- Which is cheaper, GSLC or USPX?
- USPX is cheaper, by 0.06 percentage points a year. That is about $6 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 USPX, data as of Nov 4, 2026. https://etfiq.com/compare/any/gslc-vs-uspx
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[GSLC against USPX (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/gslc-vs-uspx)
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