GACA.DE vs. SC0H.DE

Last updated Jun 5, 2026

GACA.DE (Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.)) and SC0H.DE (Invesco MSCI USA UCITS ETF) are both Large Cap Blend Equities funds - GACA.DE tracks the Goldman Sachs ActiveBeta US Large Cap Equity while SC0H.DE tracks the MSCI USA. Both are passively managed. Over the past 5 years, GACA.DE returned 13.63%/yr vs 14.59%/yr for SC0H.DE. With a 0.98 correlation, they move nearly in lockstep. GACA.DE charges 0.14%/yr vs 0.05%/yr for SC0H.DE.

Performance

GACA.DE vs. SC0H.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GACA.DE) and Invesco MSCI USA UCITS ETF (SC0H.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GACA.DE achieves a 10.44% return, which is significantly lower than SC0H.DE's 11.30% return.

GACA.DE

• 1D: -0.16%
• 1M: 5.10%
• YTD: 10.44%
• 6M: 10.26%
• 1Y: 20.78%
• 3Y*: 17.51%
• 5Y*: 13.63%
• 10Y*: —

SC0H.DE

• 1D: -0.11%
• 1M: 4.53%
• YTD: 11.30%
• 6M: 10.69%
• 1Y: 25.27%
• 3Y*: 19.18%
• 5Y*: 14.59%
• 10Y*: 15.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GACA.DE vs. SC0H.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GACA.DE Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.)	10.44%	3.94%	29.59%	21.02%	-14.66%	38.66%	7.33%	8.54%
SC0H.DE Invesco MSCI USA UCITS ETF	11.30%	4.77%	32.56%	23.60%	-15.55%	38.99%	9.76%	9.87%

Correlation

The correlation between GACA.DE and SC0H.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 9, 2019	0.98

The correlation between GACA.DE and SC0H.DE has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

GACA.DE vs. SC0H.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GACA.DE

GACA.DE Risk / Return Rank: 47
GACA.DE Sharpe Ratio Rank: 46
GACA.DE Sortino Ratio Rank: 46
GACA.DE Omega Ratio Rank: 47
GACA.DE Calmar Ratio Rank: 48
GACA.DE Martin Ratio Rank: 49

SC0H.DE

SC0H.DE Risk / Return Rank: 67
SC0H.DE Sharpe Ratio Rank: 67
SC0H.DE Sortino Ratio Rank: 64
SC0H.DE Omega Ratio Rank: 68
SC0H.DE Calmar Ratio Rank: 70
SC0H.DE Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GACA.DE vs. SC0H.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GACA.DE) and Invesco MSCI USA UCITS ETF (SC0H.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GACA.DE	SC0H.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.16	-0.57
Sortino ratio: Return per unit of downside risk	2.26	2.94	-0.68
Omega ratio: Gain probability vs. loss probability	1.29	1.40	-0.11
Calmar ratio: Return relative to maximum drawdown	2.32	3.45	-1.13
Martin ratio: Return relative to average drawdown	8.09	11.96	-3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GACA.DE vs. SC0H.DE - Sharpe Ratio Comparison

The current GACA.DE Sharpe Ratio is 1.60, which is comparable to the SC0H.DE Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of GACA.DE and SC0H.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GACA.DE	SC0H.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.60	2.16	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.94	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.98	-0.13

Drawdowns

GACA.DE vs. SC0H.DE - Drawdown Comparison

The maximum GACA.DE drawdown since its inception was -33.50%, roughly equal to the maximum SC0H.DE drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for GACA.DE and SC0H.DE.

Drawdown Indicators

	GACA.DE	SC0H.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-34.20%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-7.32%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-23.68%	-23.66%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-23.68%	-23.66%	-0.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.20%	—
Current Drawdown Current decline from peak	-0.33%	-0.41%	+0.08%
Average Drawdown Average peak-to-trough decline	-5.08%	-4.13%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.11%	+0.46%

Volatility

GACA.DE vs. SC0H.DE - Volatility Comparison

Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GACA.DE) has a higher volatility of 3.46% compared to Invesco MSCI USA UCITS ETF (SC0H.DE) at 2.68%. This indicates that GACA.DE's price experiences larger fluctuations and is considered to be riskier than SC0H.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GACA.DE	SC0H.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	2.68%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	7.66%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	11.67%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	15.41%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.22%	16.23%	+0.99%

GACA.DE vs. SC0H.DE - Expense Ratio Comparison

GACA.DE has a 0.14% expense ratio, which is higher than SC0H.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GACA.DE vs. SC0H.DE - Dividend Comparison

Neither GACA.DE nor SC0H.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GACA.DE and SC0H.DE in my portfolio?

With a correlation of 0.95, GACA.DE and SC0H.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GACA.DE or SC0H.DE?

On fees, SC0H.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GACA.DE or SC0H.DE?

SC0H.DE is cheaper with a 0.05% expense ratio, compared with 0.14% for GACA.DE.

What is the main difference between GACA.DE and SC0H.DE?

GACA.DE tracks Goldman Sachs ActiveBeta US Large Cap Equity, while SC0H.DE tracks MSCI USA. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.14% for GACA.DE and 0.05% for SC0H.DE.