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GSEW vs. QUAL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GSEW vs. QUAL

Last updated Jun 25, 2026

GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) and QUAL (iShares MSCI USA Quality Factor ETF) are both Large Cap Blend Equities funds - GSEW tracks the Solactive US Large Cap Equal Weight Index while QUAL tracks the MSCI USA Sector Neutral Quality Index. Both are passively managed. Over the past 5 years, GSEW returned 8.39%/yr vs 11.33%/yr for QUAL. Their correlation of 0.90 suggests significant overlap in exposure. GSEW charges 0.09%/yr vs 0.15%/yr for QUAL.

Performance

GSEW vs. QUAL - 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 Quality Factor ETF (QUAL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GSEW achieves a 9.79% return, which is significantly higher than QUAL's 7.76% return.

GSEW

1D
0.15%
1M
1.25%
YTD
9.79%
6M
8.33%
1Y
16.57%
3Y*
17.13%
5Y*
8.39%
10Y*
—

QUAL

1D
0.08%
1M
-0.38%
YTD
7.76%
6M
6.49%
1Y
19.82%
3Y*
18.56%
5Y*
11.33%
10Y*
14.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GSEW vs. QUAL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GSEW
Goldman Sachs Equal Weight U.S. Large Cap Equity ETF		9.79%11.97%16.89%17.80%-17.54%25.43%16.28%31.04%-8.11%7.72%
QUAL
iShares MSCI USA Quality Factor ETF		7.76%12.65%22.29%30.88%-20.50%26.94%17.04%33.89%-5.70%9.43%

Correlation

The correlation between GSEW and QUAL is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 14, 2017

0.90

The correlation between GSEW and QUAL has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

GSEW vs. QUAL - Sectors Allocation Comparison

Sectors
GSEW
QUAL

Technology

21.5%
38.8%

Industrials

15.5%
7.2%

Financial Services

14.1%
10.8%

Healthcare

11.3%
8.7%

Consumer Cyclical

9.4%
9.3%

Utilities

5.6%
2.1%

Consumer Defensive

5.5%
4.4%

Energy

4.6%
3.2%

Basic Materials

4.4%
1.9%

Real Estate

4.2%
1.8%

Communication Services

4.0%
11.8%

Technology

GSEW
21.5%
QUAL
38.8%

Industrials

GSEW
15.5%
QUAL
7.2%

Financial Services

GSEW
14.1%
QUAL
10.8%

Healthcare

GSEW
11.3%
QUAL
8.7%

Consumer Cyclical

GSEW
9.4%
QUAL
9.3%

Utilities

GSEW
5.6%
QUAL
2.1%

Consumer Defensive

GSEW
5.5%
QUAL
4.4%

Energy

GSEW
4.6%
QUAL
3.2%

Basic Materials

GSEW
4.4%
QUAL
1.9%

Real Estate

GSEW
4.2%
QUAL
1.8%

Communication Services

GSEW
4.0%
QUAL
11.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

iShares MSCI USA Quality Factor ETF

Often compared with GSEW:
GSEW vs. RSPGSEW vs. EUSAGSEW vs. VOOGSEW vs. QUSGSEW vs. VUGGSEW vs. SWPPXGSEW vs. SCHG
Often compared with QUAL:
QUAL vs. SPHQQUAL vs. SPYQUAL vs. MTUMQUAL vs. USMVQUAL vs. VOOQUAL vs. IVVQUAL vs. SCHD

Return for Risk

GSEW vs. QUAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GSEW
GSEW Risk / Return Rank: 4545
Overall Rank
GSEW Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
GSEW Sortino Ratio Rank: 4242
Sortino Ratio Rank
GSEW Omega Ratio Rank: 3939
Omega Ratio Rank
GSEW Calmar Ratio Rank: 4848
Calmar Ratio Rank
GSEW Martin Ratio Rank: 5353
Martin Ratio Rank
QUAL
QUAL Risk / Return Rank: 5454
Overall Rank
QUAL Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
QUAL Sortino Ratio Rank: 5454
Sortino Ratio Rank
QUAL Omega Ratio Rank: 5151
Omega Ratio Rank
QUAL Calmar Ratio Rank: 4949
Calmar Ratio Rank
QUAL Martin Ratio Rank: 6161
Martin Ratio Rank
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. QUAL - 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 Quality Factor ETF (QUAL). 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.

GSEWQUALDifference
Sharpe ratioReturn per unit of total volatility
1.34
1.65

-0.31

Sortino ratioReturn per unit of downside risk
1.94
2.35

-0.41

Omega ratioGain probability vs. loss probability

1.24

1.29

-0.06

Calmar ratioReturn relative to maximum drawdown

2.16

2.20

-0.05

Martin ratioReturn relative to average drawdown

8.17

9.97

-1.81

GSEW vs. QUAL - Sharpe Ratio Comparison

The current GSEW Sharpe Ratio is 1.34, which is comparable to the QUAL Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of GSEW and QUAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GSEW vs. QUAL - Drawdown Comparison

The maximum GSEW drawdown since its inception was -38.65%, which is greater than QUAL's maximum drawdown of -34.06%. Use the drawdown chart below to compare losses from any high point for GSEW and QUAL.

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Drawdown Indicators

GSEWQUALDifference

Max Drawdown

Largest peak-to-trough decline

-38.65%

-34.06%

-4.59%

Max Drawdown (1Y)

Largest decline over 1 year

-7.72%

-9.03%

+1.31%

Max Drawdown (3Y)

Largest decline over 3 years

-18.18%

-18.00%

-0.18%

Max Drawdown (5Y)

Largest decline over 5 years

-25.74%

-28.23%

+2.49%

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.06%

—

Current Drawdown

Current decline from peak

-1.55%

-2.74%

+1.19%

Average Drawdown

Average peak-to-trough decline

-5.86%

-4.09%

-1.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

1.99%

+0.04%

Volatility

GSEW vs. QUAL - Volatility Comparison

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) and iShares MSCI USA Quality Factor ETF (QUAL) have volatilities of 3.84% and 4.02%, 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.

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Volatility by Period

GSEWQUALDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.84%

4.02%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

9.46%

9.62%

-0.16%

Volatility (1Y)

Calculated over the trailing 1-year period

12.43%

12.10%

+0.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.96%

17.38%

-0.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.17%

18.10%

+1.07%

GSEW vs. QUAL - Expense Ratio Comparison

GSEW has a 0.09% expense ratio, which is lower than QUAL's 0.15% 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

GSEW vs. QUAL - Dividend Comparison

GSEW's dividend yield for the trailing twelve months is around 1.06%, more than QUAL's 0.88% yield.

PositionTTM20252024202320222021202020192018201720162015
GSEW
Goldman Sachs Equal Weight U.S. Large Cap Equity ETF		1.06%1.52%1.46%1.64%1.74%1.34%1.53%1.66%1.56%0.54%0.00%0.00%
QUAL
iShares MSCI USA Quality Factor ETF		0.88%0.94%1.02%1.23%1.59%1.20%1.39%1.60%2.00%1.76%1.96%1.63%

Frequently Asked Questions

GSEW and QUAL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QUAL has higher volatility (4.02%) compared to GSEW (3.84%). In terms of maximum drawdown, GSEW dropped -38.65% vs QUAL's -34.06%.

On 5-year performance, QUAL leads with 11.33% vs 8.39% for GSEW. On fees, GSEW is cheaper at 0.09% per year. On volatility, GSEW has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, QUAL has performed better with a 11.33% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GSEW is cheaper with a 0.09% expense ratio, compared with 0.15% for QUAL.

GSEW has the higher dividend yield at 1.06%, compared with 0.88% for QUAL.

GSEW tracks Solactive US Large Cap Equal Weight Index, while QUAL tracks MSCI USA Sector Neutral Quality Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.09% for GSEW and 0.15% for QUAL.

QUAL currently has the higher Sharpe Ratio (1.65 vs 1.34), 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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