GSEW vs. GVIP

Last updated Aug 5, 2026

GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) and GVIP (Goldman Sachs Hedge Industry VIP ETF) are both exchange-traded funds - GSEW is a Large Cap Blend Equities fund tracking the Solactive US Large Cap Equal Weight Index, while GVIP is a Large Cap Growth Equities fund tracking the Goldman Sachs Hedge Fund VIP Index. Both are passively managed. Over the past 5 years, GSEW returned 8.94%/yr vs 11.72%/yr for GVIP. Their correlation of 0.83 means they have usually moved in the same direction. GSEW charges 0.09%/yr vs 0.45%/yr for GVIP.

Performance

GSEW vs. GVIP - 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 Goldman Sachs Hedge Industry VIP ETF (GVIP). 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 higher than GVIP's 13.34% 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%

GVIP

• 1D: 1.76%
• 1M: -2.42%
• 6M: 9.47%
• YTD: 13.34%
• 1Y: 25.16%
• 3Y*: 26.79%
• 5Y*: 11.72%
• 10Y*: —
• ALL TIME*: 16.92%

*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)
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	$8.92M	$6.80M	$6.46M
GVIP Goldman Sachs Hedge Industry VIP ETF	$2.32M	$1.86M	$1.94M

GSEW vs. GVIP - 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	15.21%	11.97%	16.89%	17.80%	-17.54%	25.43%	16.28%	31.04%	-8.11%	7.72%
GVIP Goldman Sachs Hedge Industry VIP ETF	13.34%	25.27%	29.82%	39.15%	-31.95%	11.86%	44.12%	30.21%	-6.85%	4.29%

Correlation

The correlation between GSEW and GVIP is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017	0.83

The correlation between GSEW and GVIP shifts across timeframes, from 0.65 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

GSEW vs. GVIP - Sectors Allocation Comparison

Sectors	GSEW	GVIP
Technology	18.3%	37.9%
Industrials	16.4%	11.1%
Financial Services	15.1%	15.5%
Healthcare	12.0%	8.6%
Consumer Cyclical	9.9%	9.4%
Utilities	5.9%	5.9%
Consumer Defensive	5.7%	1.2%
Real Estate	4.3%	-
Basic Materials	4.3%	-
Energy	4.2%	-
Communication Services	3.9%	11.7%

Return for Risk

GSEW vs. GVIP — 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

GVIP

GVIP Risk / Return Rank: 40
GVIP Sharpe Ratio Rank: 38
GVIP Sortino Ratio Rank: 37
GVIP Omega Ratio Rank: 38
GVIP Calmar Ratio Rank: 39
GVIP Martin Ratio Rank: 47

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. GVIP - 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 Goldman Sachs Hedge Industry VIP ETF (GVIP). 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	GVIP	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.08	+0.52
Sortino ratio: Return per unit of downside risk	2.29	1.57	+0.72
Omega ratio: Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio: Return relative to maximum drawdown	2.55	1.54	+1.01
Martin ratio: Return relative to average drawdown	9.88	5.82	+4.05

GSEW vs. GVIP - Sharpe Ratio Comparison

The current GSEW Sharpe Ratio is 1.60, which is higher than the GVIP Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of GSEW and GVIP, 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. GVIP - Drawdown Comparison

The maximum GSEW drawdown since its inception was -38.65%, roughly equal to the maximum GVIP drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for GSEW and GVIP.

Drawdown Indicators

	GSEW	GVIP	Difference
Max Drawdown Largest peak-to-trough decline	-38.65%	-37.09%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-16.36%	+8.64%
Max Drawdown (3Y) Largest decline over 3 years	-18.18%	-23.29%	+5.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-37.09%	+11.35%
Current Drawdown Current decline from peak	0.00%	-8.44%	+8.44%
Average Drawdown Average peak-to-trough decline	-5.79%	-7.57%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	4.33%	-2.34%

Volatility

GSEW vs. GVIP - Volatility Comparison

The current volatility for Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) is 3.13%, while Goldman Sachs Hedge Industry VIP ETF (GVIP) has a volatility of 10.00%. This indicates that GSEW experiences smaller price fluctuations and is considered to be less risky than GVIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEW	GVIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	10.00%	-6.87%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	20.44%	-11.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	23.42%	-11.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	22.30%	-5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	22.03%	-2.95%

GSEW vs. GVIP - Expense Ratio Comparison

GSEW has a 0.09% expense ratio, which is lower than GVIP's 0.45% expense ratio.

Dividends

GSEW vs. GVIP - Dividend Comparison

GSEW's dividend yield for the trailing twelve months is around 1.34%, more than GVIP's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
GVIP Goldman Sachs Hedge Industry VIP ETF	0.30%	0.34%	0.29%	0.77%	0.02%	0.00%	0.12%	0.77%	0.44%	0.45%	0.08%

Frequently Asked Questions

Can I hold both GSEW and GVIP in my portfolio?

GSEW and GVIP have a correlation of 0.65, 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 GVIP?

GVIP has higher volatility (10.00%) compared to GSEW (3.13%). In terms of maximum drawdown, GSEW dropped -38.65% vs GVIP's -37.09%.

Which ETF is better, GSEW or GVIP?

On 5-year performance, GVIP leads with 11.72% vs 8.94% for GSEW. On fees, GSEW is cheaper at 0.09% per year. On volatility, GSEW has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEW or GVIP?

Over the 5-year period, GVIP has performed better with a 11.72% return vs 8.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEW or GVIP?

GSEW is cheaper with a 0.09% expense ratio, compared with 0.45% for GVIP.

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

GSEW has the higher dividend yield at 1.34%, compared with 0.30% for GVIP.

What is the main difference between GSEW and GVIP?

GSEW is categorized as Large Cap Blend Equities, while GVIP is Large Cap Growth Equities. GSEW tracks Solactive US Large Cap Equal Weight Index, while GVIP tracks Goldman Sachs Hedge Fund VIP Index. Their fees differ too: 0.09% for GSEW and 0.45% for GVIP.

Which has better risk-adjusted returns?

GSEW currently has the higher Sharpe Ratio (1.60 vs 1.08), 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.