GSEW vs. ESN

Last updated Aug 5, 2026

GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) and ESN (Essential 40 Stock ETF) are both Large Cap Blend Equities funds - GSEW tracks the Solactive US Large Cap Equal Weight Index while ESN tracks the Essential 40 Stock Index. Both are passively managed. Over the past year, GSEW returned 19.63% vs 29.45% for ESN. Their correlation of 0.85 means they have usually moved in the same direction. GSEW charges 0.09%/yr vs 0.70%/yr for ESN.

Performance

GSEW vs. ESN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) and Essential 40 Stock ETF (ESN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSEW achieves a 15.21% return, which is significantly lower than ESN's 19.34% return.

GSEW

• 1D: 1.65%
• 1M: 2.30%
• 6M: 12.31%
• YTD: 15.21%
• 1Y: 19.63%
• 3Y*: 17.29%
• 5Y*: 8.94%
• 10Y*: —
• ALL TIME*: 12.15%

ESN

• 1D: 1.40%
• 1M: 2.04%
• 6M: 13.37%
• YTD: 19.34%
• 1Y: 29.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ESN Essential 40 Stock ETF	$2.24M	$1.59M	$1.62M
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	$8.92M	$6.80M	$6.46M

GSEW vs. ESN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	15.21%	11.97%	-1.89%
ESN Essential 40 Stock ETF	19.34%	16.52%	-3.53%

Correlation

The correlation between GSEW and ESN is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Oct 21, 2024	0.85

The correlation between GSEW and ESN has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

GSEW vs. ESN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GSEW

GSEW Risk / Return Rank: 63
GSEW Sharpe Ratio Rank: 60
GSEW Sortino Ratio Rank: 61
GSEW Omega Ratio Rank: 57
GSEW Calmar Ratio Rank: 65
GSEW Martin Ratio Rank: 71

ESN

ESN Risk / Return Rank: 94
ESN Sharpe Ratio Rank: 95
ESN Sortino Ratio Rank: 95
ESN Omega Ratio Rank: 93
ESN Calmar Ratio Rank: 92
ESN Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GSEW vs. ESN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) and Essential 40 Stock ETF (ESN). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GSEW	ESN	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.96	-1.35
Sortino ratio: Return per unit of downside risk	2.29	4.08	-1.79
Omega ratio: Gain probability vs. loss probability	1.28	1.52	-0.24
Calmar ratio: Return relative to maximum drawdown	2.55	4.61	-2.05
Martin ratio: Return relative to average drawdown	9.88	18.48	-8.61

GSEW vs. ESN - Sharpe Ratio Comparison

The current GSEW Sharpe Ratio is 1.60, which is lower than the ESN Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of GSEW and ESN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSEW vs. ESN - Drawdown Comparison

The maximum GSEW drawdown since its inception was -38.65%, which is greater than ESN's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for GSEW and ESN.

Drawdown Indicators

	GSEW	ESN	Difference
Max Drawdown Largest peak-to-trough decline	-38.65%	-13.60%	-25.05%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-6.42%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-18.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.79%	-1.80%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.60%	+0.39%

Volatility

GSEW vs. ESN - Volatility Comparison

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) and Essential 40 Stock ETF (ESN) have volatilities of 3.13% and 3.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEW	ESN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	3.02%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	7.60%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	10.03%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	13.06%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	13.06%	+6.02%

GSEW vs. ESN - Expense Ratio Comparison

GSEW has a 0.09% expense ratio, which is lower than ESN's 0.70% expense ratio.

Dividends

GSEW vs. ESN - Dividend Comparison

GSEW's dividend yield for the trailing twelve months is around 1.34%, more than ESN's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESN Essential 40 Stock ETF	0.76%	0.91%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	1.34%	1.52%	1.46%	1.64%	1.74%	1.34%	1.53%	1.66%	1.56%	0.54%

Frequently Asked Questions

Can I hold both GSEW and ESN in my portfolio?

GSEW and ESN have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEW or ESN?

GSEW has higher volatility (3.13%) compared to ESN (3.02%). In terms of maximum drawdown, GSEW dropped -38.65% vs ESN's -13.60%.

Which ETF is better, GSEW or ESN?

On 1-year performance, ESN leads with 29.45% vs 19.63% for GSEW. On fees, GSEW is cheaper at 0.09% per year. On volatility, ESN has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEW or ESN?

Over the 1-year period, ESN has performed better with a 29.45% return vs 19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEW or ESN?

GSEW is cheaper with a 0.09% expense ratio, compared with 0.70% for ESN.

Which ETF pays a higher dividend yield, GSEW or ESN?

GSEW has the higher dividend yield at 1.34%, compared with 0.76% for ESN.

What is the main difference between GSEW and ESN?

GSEW tracks Solactive US Large Cap Equal Weight Index, while ESN tracks Essential 40 Stock Index. They also come from different issuers: Goldman Sachs and KKM. Their fees differ too: 0.09% for GSEW and 0.70% for ESN.

Which has better risk-adjusted returns?

ESN currently has the higher Sharpe Ratio (2.96 vs 1.60), 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.