GSEW vs. QUS

Last updated Jun 24, 2026

GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) and QUS (SPDR MSCI USA StrategicFactors ETF) are both exchange-traded funds - GSEW is a Large Cap Blend Equities fund tracking the Solactive US Large Cap Equal Weight Index, while QUS is a Large Cap Growth Equities fund tracking the MSCI USA Factor Mix A-Series Capped (USD). Both are passively managed. Over the past 5 years, GSEW returned 8.48%/yr vs 10.77%/yr for QUS. Their correlation of 0.92 suggests significant overlap in exposure. GSEW charges 0.09%/yr vs 0.15%/yr for QUS.

Performance

GSEW vs. QUS - 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 SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSEW achieves a 9.63% return, which is significantly higher than QUS's 5.81% return.

GSEW

• 1D: -0.60%
• 1M: 1.10%
• YTD: 9.63%
• 6M: 8.43%
• 1Y: 17.60%
• 3Y*: 17.07%
• 5Y*: 8.48%
• 10Y*: —

QUS

• 1D: -0.23%
• 1M: -1.12%
• YTD: 5.81%
• 6M: 5.18%
• 1Y: 16.61%
• 3Y*: 16.79%
• 5Y*: 10.77%
• 10Y*: 13.70%

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

GSEW vs. QUS - 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	9.63%	11.97%	16.89%	17.80%	-17.54%	25.43%	16.28%	31.04%	-8.11%	7.72%
QUS SPDR MSCI USA StrategicFactors ETF	5.81%	14.13%	18.99%	21.78%	-14.15%	26.72%	12.40%	32.45%	-3.66%	7.95%

Correlation

The correlation between GSEW and QUS is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 14, 2017	0.92

The correlation between GSEW and QUS has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

GSEW vs. QUS - Sectors Allocation Comparison

Sectors	GSEW	QUS
Technology	21.5%	29.2%
Industrials	15.5%	8.2%
Financial Services	14.1%	14.0%
Healthcare	11.3%	13.4%
Consumer Cyclical	9.4%	5.5%
Utilities	5.6%	3.4%
Consumer Defensive	5.5%	8.7%
Energy	4.6%	4.2%
Basic Materials	4.4%	2.2%
Real Estate	4.2%	1.3%
Communication Services	4.0%	9.9%

Return for Risk

GSEW vs. QUS — Risk / Return Rank

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

GSEW

GSEW Risk / Return Rank: 45
GSEW Sharpe Ratio Rank: 42
GSEW Sortino Ratio Rank: 42
GSEW Omega Ratio Rank: 39
GSEW Calmar Ratio Rank: 48
GSEW Martin Ratio Rank: 52

QUS

QUS Risk / Return Rank: 57
QUS Sharpe Ratio Rank: 57
QUS Sortino Ratio Rank: 57
QUS Omega Ratio Rank: 55
QUS Calmar Ratio Rank: 52
QUS Martin Ratio Rank: 63

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. QUS - 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 SPDR MSCI USA StrategicFactors ETF (QUS). 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	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.81	-0.39
Sortino ratio: Return per unit of downside risk	2.04	2.58	-0.54
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	2.29	2.43	-0.14
Martin ratio: Return relative to average drawdown	8.68	10.76	-2.08

GSEW vs. QUS - Sharpe Ratio Comparison

The current GSEW Sharpe Ratio is 1.42, which is comparable to the QUS Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of GSEW and QUS, 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. QUS - Drawdown Comparison

The maximum GSEW drawdown since its inception was -38.65%, which is greater than QUS's maximum drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for GSEW and QUS.

Drawdown Indicators

	GSEW	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-38.65%	-33.78%	-4.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-6.85%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-18.18%	-13.94%	-4.24%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-22.30%	-3.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-1.70%	-1.84%	+0.14%
Average Drawdown Average peak-to-trough decline	-5.86%	-3.69%	-2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.55%	+0.48%

Volatility

GSEW vs. QUS - Volatility Comparison

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) has a higher volatility of 3.95% compared to SPDR MSCI USA StrategicFactors ETF (QUS) at 2.84%. This indicates that GSEW's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEW	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.84%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	9.48%	6.98%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	9.24%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.96%	14.34%	+2.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.17%	16.43%	+2.74%

GSEW vs. QUS - Expense Ratio Comparison

GSEW has a 0.09% expense ratio, which is lower than QUS'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. QUS - Dividend Comparison

GSEW's dividend yield for the trailing twelve months is around 1.42%, more than QUS's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QUS SPDR MSCI USA StrategicFactors ETF	1.32%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%

Frequently Asked Questions

Can I hold both GSEW and QUS in my portfolio?

GSEW and QUS have a correlation of 0.89, 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 QUS?

GSEW has higher volatility (3.95%) compared to QUS (2.84%). In terms of maximum drawdown, GSEW dropped -38.65% vs QUS's -33.78%.

Which ETF is better, GSEW or QUS?

On 5-year performance, QUS leads with 10.77% vs 8.48% for GSEW. On fees, GSEW is cheaper at 0.09% per year. On volatility, QUS has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEW or QUS?

Over the 5-year period, QUS has performed better with a 10.77% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEW or QUS?

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

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

GSEW has the higher dividend yield at 1.42%, compared with 1.32% for QUS.

What is the main difference between GSEW and QUS?

GSEW is categorized as Large Cap Blend Equities, while QUS is Large Cap Growth Equities. GSEW tracks Solactive US Large Cap Equal Weight Index, while QUS tracks MSCI USA Factor Mix A-Series Capped (USD). They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.09% for GSEW and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (1.81 vs 1.42), 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.