GSEW vs. EUSA

Last updated Jun 20, 2026

GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) and EUSA (iShares MSCI USA Equal Weighted ETF) are both exchange-traded funds - GSEW is a Large Cap Blend Equities fund tracking the Solactive US Large Cap Equal Weight Index, while EUSA is a Mid Cap Blend Equities fund tracking the MSCI USA Equal Weighted Index. Both are passively managed. Over the past 5 years, GSEW returned 9.06%/yr vs 8.22%/yr for EUSA. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.09% expense ratio.

Performance

GSEW vs. EUSA - 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 iShares MSCI USA Equal Weighted ETF (EUSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GSEW having a 9.81% return and EUSA slightly lower at 9.38%.

GSEW

• 1D: 0.17%
• 1M: 2.26%
• YTD: 9.81%
• 6M: 9.47%
• 1Y: 18.75%
• 3Y*: 16.29%
• 5Y*: 9.06%
• 10Y*: —

EUSA

• 1D: 0.47%
• 1M: 2.52%
• YTD: 9.38%
• 6M: 8.90%
• 1Y: 18.49%
• 3Y*: 14.76%
• 5Y*: 8.22%
• 10Y*: 11.59%

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

GSEW vs. EUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	9.81%	11.97%	16.89%	17.80%	-17.54%	25.43%	16.28%	31.04%	-8.11%	7.72%
EUSA iShares MSCI USA Equal Weighted ETF	9.38%	10.24%	14.64%	17.72%	-17.13%	25.60%	15.03%	30.56%	-8.58%	7.54%

Correlation

The correlation between GSEW and EUSA is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017	0.98

The correlation between GSEW and EUSA has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

GSEW vs. EUSA - Sectors Allocation Comparison

Sectors	GSEW	EUSA
Technology	21.5%	20.3%
Industrials	15.5%	15.3%
Financial Services	14.1%	14.7%
Healthcare	11.3%	10.8%
Consumer Cyclical	9.4%	11.1%
Utilities	5.6%	5.4%
Consumer Defensive	5.5%	5.3%
Energy	4.6%	3.8%
Basic Materials	4.4%	4.3%
Real Estate	4.2%	5.2%
Communication Services	4.0%	4.0%

Return for Risk

GSEW vs. EUSA — Risk / Return Rank

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

GSEW

GSEW Risk / Return Rank: 49
GSEW Sharpe Ratio Rank: 46
GSEW Sortino Ratio Rank: 46
GSEW Omega Ratio Rank: 43
GSEW Calmar Ratio Rank: 52
GSEW Martin Ratio Rank: 56

EUSA

EUSA Risk / Return Rank: 48
EUSA Sharpe Ratio Rank: 46
EUSA Sortino Ratio Rank: 47
EUSA Omega Ratio Rank: 43
EUSA Calmar Ratio Rank: 50
EUSA Martin Ratio Rank: 56

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.

GSEW vs. EUSA - 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 iShares MSCI USA Equal Weighted ETF (EUSA). 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	EUSA	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.55	-0.01
Sortino ratio: Return per unit of downside risk	2.20	2.23	-0.03
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	2.48	2.39	+0.09
Martin ratio: Return relative to average drawdown	9.43	9.43	0.00

GSEW vs. EUSA - Sharpe Ratio Comparison

The current GSEW Sharpe Ratio is 1.54, which is comparable to the EUSA Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of GSEW and EUSA, 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. EUSA - Drawdown Comparison

The maximum GSEW drawdown since its inception was -38.65%, roughly equal to the maximum EUSA drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for GSEW and EUSA.

Drawdown Indicators

	GSEW	EUSA	Difference
Max Drawdown Largest peak-to-trough decline	-38.65%	-39.16%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-7.82%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.18%	-18.20%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-25.24%	-0.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.16%	—
Current Drawdown Current decline from peak	-1.54%	-1.23%	-0.31%
Average Drawdown Average peak-to-trough decline	-5.86%	-4.59%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.98%	+0.05%

Volatility

GSEW vs. EUSA - Volatility Comparison

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) and iShares MSCI USA Equal Weighted ETF (EUSA) have volatilities of 3.98% and 3.92%, 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	EUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.92%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	9.11%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.43%	12.08%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	17.00%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	18.36%	+0.82%

GSEW vs. EUSA - Expense Ratio Comparison

Both GSEW and EUSA have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

GSEW vs. EUSA - Dividend Comparison

GSEW's dividend yield for the trailing twelve months is around 1.42%, less than EUSA's 1.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSA iShares MSCI USA Equal Weighted ETF	1.48%	1.63%	1.47%	1.53%	1.73%	1.23%	1.45%	1.49%	2.01%	1.50%	1.59%	2.21%
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	1.42%	1.52%	1.46%	1.64%	1.74%	1.34%	1.53%	1.66%	1.56%	0.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSEW and EUSA in my portfolio?

With a correlation of 0.99, GSEW and EUSA 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 is riskier, GSEW or EUSA?

GSEW has higher volatility (3.98%) compared to EUSA (3.92%). In terms of maximum drawdown, GSEW dropped -38.65% vs EUSA's -39.16%.

Which ETF is better, GSEW or EUSA?

On 5-year performance, GSEW leads with 9.06% vs 8.22% for EUSA. Both ETFs have the same 0.09% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEW or EUSA?

Over the 5-year period, GSEW has performed better with a 9.06% return vs 8.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEW or EUSA?

GSEW and EUSA have the same expense ratio: 0.09% per year.

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

EUSA has the higher dividend yield at 1.48%, compared with 1.42% for GSEW.

What is the main difference between GSEW and EUSA?

GSEW is categorized as Large Cap Blend Equities, while EUSA is Mid Cap Blend Equities. GSEW tracks Solactive US Large Cap Equal Weight Index, while EUSA tracks MSCI USA Equal Weighted Index. They also come from different issuers: Goldman Sachs and iShares.

Which has better risk-adjusted returns?

EUSA currently has the higher Sharpe Ratio (1.55 vs 1.54), 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.