GBPG.L vs. GSLC.L
GBPG.L (Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist)) and GSLC.L (Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.)) are both exchange-traded funds - GBPG.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while GSLC.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 3 years, GBPG.L returned 3.68%/yr vs 17.78%/yr for GSLC.L. At a 0.05 correlation, their price movements are largely independent. GBPG.L charges 0.07%/yr vs 0.14%/yr for GSLC.L.
Performance
GBPG.L vs. GSLC.L - Performance Comparison
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Different Trading Currencies
GBPG.L is traded in GBP, while GSLC.L is traded in USD. To make them comparable, the GSLC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GBPG.L achieves a 3.08% return, which is significantly lower than GSLC.L's 9.62% return.
GBPG.L
- 1D
- 0.21%
- 1M
- 0.55%
- YTD
- 3.08%
- 6M
- 0.27%
- 1Y
- 3.00%
- 3Y*
- 3.68%
- 5Y*
- —
- 10Y*
- —
GSLC.L
- 1D
- -0.04%
- 1M
- 5.43%
- YTD
- 9.62%
- 6M
- 9.45%
- 1Y
- 24.12%
- 3Y*
- 17.78%
- 5Y*
- 13.87%
- 10Y*
- —
GBPG.L vs. GSLC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) | 3.08% | 2.23% | 0.17% | 4.28% | 90.38% | -1.08% |
GSLC.L Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) | 9.58% | 8.16% | 25.19% | 19.34% | -9.56% | 7.25% |
Correlation
The correlation between GBPG.L and GSLC.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021 | 0.05 |
The correlation between GBPG.L and GSLC.L shifts across timeframes, from 0.05 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBPG.L vs. GSLC.L — Risk / Return Rank
GBPG.L
GSLC.L
GBPG.L vs. GSLC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L) and Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GSLC.L). 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.
| GBPG.L | GSLC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.32 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 2.71 | -1.81 |
| Martin ratioReturn relative to average drawdown | 2.44 | 9.02 | -6.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBPG.L | GSLC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 1.81 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.17 | -0.70 |
Drawdowns
GBPG.L vs. GSLC.L - Drawdown Comparison
The maximum GBPG.L drawdown since its inception was -7.18%, smaller than the maximum GSLC.L drawdown of -21.03%. Use the drawdown chart below to compare losses from any high point for GBPG.L and GSLC.L.
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Drawdown Indicators
| GBPG.L | GSLC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.18% | -21.03% | +13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -8.88% | +5.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.30% | -21.03% | +17.73% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.03% | — |
Current DrawdownCurrent decline from peak | -1.70% | -0.06% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -3.68% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.67% | -1.50% |
Volatility
GBPG.L vs. GSLC.L - Volatility Comparison
The current volatility for Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) (GBPG.L) is 1.51%, while Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) (GSLC.L) has a volatility of 4.14%. This indicates that GBPG.L experiences smaller price fluctuations and is considered to be less risky than GSLC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBPG.L | GSLC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 4.14% | -2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 5.31% | 9.84% | -4.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.83% | 13.33% | -7.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.50% | 18.28% | +17.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 19.39% | +16.11% |
GBPG.L vs. GSLC.L - Expense Ratio Comparison
GBPG.L has a 0.07% expense ratio, which is lower than GSLC.L's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GBPG.L vs. GSLC.L - Dividend Comparison
GBPG.L's dividend yield for the trailing twelve months is around 4.09%, while GSLC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GBPG.L Goldman Sachs Access UK Gilts 1-10 Years UCITS ETF Class GBP (Dist) | 4.09% | 4.13% | 4.10% | 3.35% | 62.57% |
GSLC.L Goldman Sachs ActiveBeta US Large Cap Equity UCITS ETF CLASS USD (Acc.) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBPG.L and GSLC.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GBPG.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBPG.L is cheaper with a 0.07% expense ratio, compared with 0.14% for GSLC.L.
GBPG.L is categorized as European Government Bonds, while GSLC.L is Large Cap Blend Equities. GBPG.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while GSLC.L tracks Russell 1000 TR USD. Their fees differ too: 0.07% for GBPG.L and 0.14% for GSLC.L.
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