GHYB vs. GSLC
GHYB (Goldman Sachs Access High Yield Corporate Bond ETF) and GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) are both exchange-traded funds - GHYB is a High Yield Bonds fund tracking the FTSE Goldman Sachs High Yield Corporate Bond Index, while GSLC is a Large Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. Both are passively managed. Over the past 5 years, GHYB returned 4.02%/yr vs 12.80%/yr for GSLC. A 0.69 correlation means they provide meaningful diversification when combined. GHYB charges 0.34%/yr vs 0.09%/yr for GSLC.
Performance
GHYB vs. GSLC - Performance Comparison
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Returns By Period
In the year-to-date period, GHYB achieves a 1.32% return, which is significantly lower than GSLC's 9.00% return.
GHYB
- 1D
- 0.16%
- 1M
- 0.37%
- YTD
- 1.32%
- 6M
- 1.69%
- 1Y
- 6.90%
- 3Y*
- 8.66%
- 5Y*
- 4.02%
- 10Y*
- —
GSLC
- 1D
- 0.46%
- 1M
- 4.21%
- YTD
- 9.00%
- 6M
- 9.17%
- 1Y
- 23.91%
- 3Y*
- 21.11%
- 5Y*
- 12.80%
- 10Y*
- 14.67%
GHYB vs. GSLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 1.32% | 9.38% | 7.76% | 12.13% | -11.02% | 3.21% | 6.38% | 14.55% | -2.01% | 0.27% |
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 9.00% | 16.17% | 24.21% | 25.09% | -18.71% | 27.17% | 19.02% | 30.74% | -4.07% | 9.66% |
Correlation
The correlation between GHYB and GSLC is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017 | 0.69 |
The correlation between GHYB and GSLC has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
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Return for Risk
GHYB vs. GSLC — Risk / Return Rank
GHYB
GSLC
GHYB vs. GSLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) and Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC). 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.
| GHYB | GSLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.53 | +0.06 |
| Martin ratioReturn relative to average drawdown | 11.85 | 11.26 | +0.59 |
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
| GHYB | GSLC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 2.05 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.77 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.83 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.82 | -0.27 |
Drawdowns
GHYB vs. GSLC - Drawdown Comparison
The maximum GHYB drawdown since its inception was -21.48%, smaller than the maximum GSLC drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for GHYB and GSLC.
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Drawdown Indicators
| GHYB | GSLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.48% | -33.69% | +12.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -9.49% | +6.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -18.66% | +14.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -24.90% | +8.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.69% | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.21% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.57% | -4.39% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 2.13% | -1.55% |
Volatility
GHYB vs. GSLC - Volatility Comparison
The current volatility for Goldman Sachs Access High Yield Corporate Bond ETF (GHYB) is 1.08%, while Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) has a volatility of 2.70%. This indicates that GHYB experiences smaller price fluctuations and is considered to be less risky than GSLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHYB | GSLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 2.70% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 8.85% | -6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 11.71% | -8.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.69% | 16.62% | -8.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.28% | 17.68% | -9.40% |
GHYB vs. GSLC - Expense Ratio Comparison
GHYB has a 0.34% expense ratio, which is higher than GSLC's 0.09% expense ratio.
Dividends
GHYB vs. GSLC - Dividend Comparison
GHYB's dividend yield for the trailing twelve months is around 6.80%, more than GSLC's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYB Goldman Sachs Access High Yield Corporate Bond ETF | 6.80% | 7.00% | 6.65% | 6.20% | 5.67% | 4.46% | 4.75% | 5.57% | 5.68% | 1.45% | 0.00% | 0.00% |
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 0.92% | 1.00% | 1.11% | 1.38% | 1.61% | 1.06% | 1.35% | 1.54% | 1.89% | 1.69% | 1.69% | 0.36% |
Frequently Asked Questions
GHYB and GSLC have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSLC has higher volatility (2.70%) compared to GHYB (1.08%). In terms of maximum drawdown, GHYB dropped -21.48% vs GSLC's -33.69%.
On 5-year performance, GSLC leads with 12.80% vs 4.02% for GHYB. On fees, GSLC is cheaper at 0.09% per year. On volatility, GHYB has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSLC has performed better with a 12.80% return vs 4.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSLC is cheaper with a 0.09% expense ratio, compared with 0.34% for GHYB.
GHYB has the higher dividend yield at 6.80%, compared with 0.92% for GSLC.
GHYB is categorized as High Yield Bonds, while GSLC is Large Cap Growth Equities. GHYB tracks FTSE Goldman Sachs High Yield Corporate Bond Index, while GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. Their fees differ too: 0.34% for GHYB and 0.09% for GSLC.
GSLC currently has the higher Sharpe Ratio (2.05 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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