GSLC vs. BBJP

Last updated Jul 26, 2026

GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) and BBJP (JPMorgan BetaBuilders Japan ETF) are both exchange-traded funds - GSLC is a Large Cap Blend Equities fund tracking the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while BBJP is a Japan Equities fund tracking the Morningstar Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, GSLC returned 11.15%/yr vs 8.67%/yr for BBJP. Their 0.67 correlation means they have sometimes moved together and sometimes differently. GSLC charges 0.09%/yr vs 0.19%/yr for BBJP.

Performance

GSLC vs. BBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) and JPMorgan BetaBuilders Japan ETF (BBJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSLC achieves a 7.14% return, which is significantly lower than BBJP's 11.90% return.

GSLC

• 1D: 0.26%
• 1M: 1.27%
• 6M: 6.47%
• YTD: 7.14%
• 1Y: 14.00%
• 3Y*: 17.71%
• 5Y*: 11.15%
• 10Y*: 14.04%
• ALL TIME*: 13.91%

BBJP

• 1D: 0.19%
• 1M: -2.16%
• 6M: 6.85%
• YTD: 11.90%
• 1Y: 24.42%
• 3Y*: 16.52%
• 5Y*: 8.67%
• 10Y*: —
• ALL TIME*: 7.64%

*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)
BBJP JPMorgan BetaBuilders Japan ETF	$122.93M	$111.87M	$115.37M
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	$78.02M	$62.36M	$41.68M

GSLC vs. BBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	7.14%	16.17%	24.21%	25.09%	-18.71%	27.17%	19.02%	30.74%	-9.54%
BBJP JPMorgan BetaBuilders Japan ETF	11.90%	26.55%	7.47%	20.65%	-17.24%	1.21%	15.42%	18.85%	-13.92%

Correlation

The correlation between GSLC and BBJP is 0.64, 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.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018	0.67

The correlation between GSLC and BBJP has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

GSLC vs. BBJP - Sectors Allocation Comparison

Sectors	GSLC	BBJP
Technology	37.8%	22.2%
Financial Services	10.9%	18.8%
Consumer Cyclical	10.3%	10.7%
Communication Services	10.2%	4.6%
Healthcare	9.1%	5.8%
Industrials	8.5%	25.6%
Consumer Defensive	5.5%	3.6%
Energy	2.9%	0.9%
Utilities	2.2%	1.0%
Basic Materials	1.4%	4.1%
Real Estate	1.2%	2.2%

Return for Risk

GSLC vs. BBJP — Risk / Return Rank

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

GSLC

GSLC Risk / Return Rank: 48
GSLC Sharpe Ratio Rank: 49
GSLC Sortino Ratio Rank: 47
GSLC Omega Ratio Rank: 47
GSLC Calmar Ratio Rank: 44
GSLC Martin Ratio Rank: 55

BBJP

BBJP Risk / Return Rank: 48
BBJP Sharpe Ratio Rank: 47
BBJP Sortino Ratio Rank: 46
BBJP Omega Ratio Rank: 48
BBJP Calmar Ratio Rank: 48
BBJP Martin Ratio Rank: 48

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.

GSLC vs. BBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) and JPMorgan BetaBuilders Japan ETF (BBJP). 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.

	GSLC	BBJP	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.14	+0.04
Sortino ratio: Return per unit of downside risk	1.68	1.67	+0.01
Omega ratio: Gain probability vs. loss probability	1.21	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.54	1.70	-0.16
Martin ratio: Return relative to average drawdown	6.49	5.53	+0.97

GSLC vs. BBJP - Sharpe Ratio Comparison

The current GSLC Sharpe Ratio is 1.18, which is comparable to the BBJP Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GSLC and BBJP, 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

GSLC vs. BBJP - Drawdown Comparison

The maximum GSLC drawdown since its inception was -33.69%, roughly equal to the maximum BBJP drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for GSLC and BBJP.

Drawdown Indicators

	GSLC	BBJP	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-32.66%	-1.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-13.60%	+4.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-14.49%	-4.17%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-32.66%	+7.76%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	—	—
Current Drawdown Current decline from peak	-1.91%	-5.62%	+3.71%
Average Drawdown Average peak-to-trough decline	-4.36%	-8.43%	+4.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	4.19%	-1.95%

Volatility

GSLC vs. BBJP - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) is 2.67%, while JPMorgan BetaBuilders Japan ETF (BBJP) has a volatility of 5.94%. This indicates that GSLC experiences smaller price fluctuations and is considered to be less risky than BBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSLC	BBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	5.94%	-3.27%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	16.84%	-7.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	20.22%	-7.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.69%	18.45%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	18.41%	-0.74%

GSLC vs. BBJP - Expense Ratio Comparison

GSLC has a 0.09% expense ratio, which is lower than BBJP's 0.19% 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

GSLC vs. BBJP - Dividend Comparison

GSLC's dividend yield for the trailing twelve months is around 0.95%, less than BBJP's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBJP JPMorgan BetaBuilders Japan ETF	4.80%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%	0.00%	0.00%	0.00%
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	0.95%	1.00%	1.11%	1.38%	1.61%	1.06%	1.35%	1.54%	1.89%	1.69%	1.69%	0.36%

Frequently Asked Questions

Can I hold both GSLC and BBJP in my portfolio?

GSLC and BBJP have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSLC or BBJP?

BBJP has higher volatility (5.94%) compared to GSLC (2.67%). In terms of maximum drawdown, GSLC dropped -33.69% vs BBJP's -32.66%.

Which ETF is better, GSLC or BBJP?

On 5-year performance, GSLC leads with 11.15% vs 8.67% for BBJP. On fees, GSLC is cheaper at 0.09% per year. On volatility, GSLC has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSLC or BBJP?

Over the 5-year period, GSLC has performed better with a 11.15% return vs 8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSLC or BBJP?

GSLC is cheaper with a 0.09% expense ratio, compared with 0.19% for BBJP.

Which ETF pays a higher dividend yield, GSLC or BBJP?

BBJP has the higher dividend yield at 4.80%, compared with 0.95% for GSLC.

What is the main difference between GSLC and BBJP?

GSLC is categorized as Large Cap Blend Equities, while BBJP is Japan Equities. GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while BBJP tracks Morningstar Japan Target Market Exposure Index. They also come from different issuers: Goldman Sachs and JPMorgan. Their fees differ too: 0.09% for GSLC and 0.19% for BBJP.

Which has better risk-adjusted returns?

GSLC currently has the higher Sharpe Ratio (1.18 vs 1.14), 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.