GSLC vs. IEMG

Last updated Jul 26, 2026

GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) and IEMG (iShares Core MSCI Emerging Markets 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 IEMG is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Both are passively managed. Over the past 10 years, GSLC returned 14.04%/yr vs 8.78%/yr for IEMG. Their 0.68 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.09% expense ratio.

Performance

GSLC vs. IEMG - 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 iShares Core MSCI Emerging Markets ETF (IEMG). 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 IEMG's 15.55% return. Over the past 10 years, GSLC has outperformed IEMG with an annualized return of 14.04%, while IEMG has yielded a comparatively lower 8.78% annualized 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%

IEMG

• 1D: -1.78%
• 1M: -6.23%
• 6M: 7.28%
• YTD: 15.55%
• 1Y: 28.48%
• 3Y*: 17.89%
• 5Y*: 6.77%
• 10Y*: 8.78%
• ALL TIME*: 6.06%

*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)
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	$78.02M	$62.36M	$41.68M
IEMG iShares Core MSCI Emerging Markets ETF	$959.90M	$1.12B	$1.07B

GSLC vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	-4.07%	22.49%
IEMG iShares Core MSCI Emerging Markets ETF	15.55%	32.56%	6.50%	11.52%	-19.98%	-0.64%	17.87%	17.81%	-14.92%	37.38%

Correlation

The correlation between GSLC and IEMG is 0.73, 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.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.67
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015	0.68

The correlation between GSLC and IEMG has been stable across timeframes, ranging from 0.65 to 0.73 - a consistent structural relationship.

GSLC vs. IEMG - Sectors Allocation Comparison

Sectors	GSLC	IEMG
Technology	37.8%	43.6%
Financial Services	10.9%	17.3%
Consumer Cyclical	10.3%	7.7%
Communication Services	10.2%	5.6%
Healthcare	9.1%	3.2%
Industrials	8.5%	7.7%
Consumer Defensive	5.5%	2.8%
Energy	2.9%	3.0%
Utilities	2.2%	1.9%
Basic Materials	1.4%	5.8%
Real Estate	1.2%	1.5%

Return for Risk

GSLC vs. IEMG — 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

IEMG

IEMG Risk / Return Rank: 54
IEMG Sharpe Ratio Rank: 50
IEMG Sortino Ratio Rank: 47
IEMG Omega Ratio Rank: 54
IEMG Calmar Ratio Rank: 61
IEMG Martin Ratio Rank: 57

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. IEMG - 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 iShares Core MSCI Emerging Markets ETF (IEMG). 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	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.21	-0.03
Sortino ratio: Return per unit of downside risk	1.68	1.69	-0.01
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.02
Calmar ratio: Return relative to maximum drawdown	1.54	2.13	-0.60
Martin ratio: Return relative to average drawdown	6.49	6.72	-0.22

GSLC vs. IEMG - Sharpe Ratio Comparison

The current GSLC Sharpe Ratio is 1.18, which is comparable to the IEMG Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GSLC and IEMG, 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. IEMG - Drawdown Comparison

The maximum GSLC drawdown since its inception was -33.69%, smaller than the maximum IEMG drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for GSLC and IEMG.

Drawdown Indicators

	GSLC	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-38.71%	+5.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-13.21%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-17.21%	-1.45%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-33.61%	+8.71%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	-38.71%	+5.02%
Current Drawdown Current decline from peak	-1.91%	-10.41%	+8.50%
Average Drawdown Average peak-to-trough decline	-4.36%	-12.90%	+8.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	4.19%	-1.95%

Volatility

GSLC vs. IEMG - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) is 2.67%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 7.86%. This indicates that GSLC experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSLC	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	7.86%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	21.27%	-11.75%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	23.23%	-10.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.69%	19.21%	-2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	20.26%	-2.59%

GSLC vs. IEMG - Expense Ratio Comparison

Both GSLC and IEMG 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

GSLC vs. IEMG - Dividend Comparison

GSLC's dividend yield for the trailing twelve months is around 0.95%, less than IEMG's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IEMG iShares Core MSCI Emerging Markets ETF	2.33%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%

Frequently Asked Questions

Can I hold both GSLC and IEMG in my portfolio?

GSLC and IEMG have a correlation of 0.73, 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 IEMG?

IEMG has higher volatility (7.86%) compared to GSLC (2.67%). In terms of maximum drawdown, GSLC dropped -33.69% vs IEMG's -38.71%.

Which ETF is better, GSLC or IEMG?

On 10-year performance, GSLC leads with 14.04% vs 8.78% for IEMG. Both ETFs have the same 0.09% expense ratio. 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 IEMG?

Over the 10-year period, GSLC has performed better with a 14.04% return vs 8.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSLC or IEMG?

GSLC and IEMG have the same expense ratio: 0.09% per year.

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

IEMG has the higher dividend yield at 2.33%, compared with 0.95% for GSLC.

What is the main difference between GSLC and IEMG?

GSLC is categorized as Large Cap Blend Equities, while IEMG is Emerging Markets Equities. GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net). They also come from different issuers: Goldman Sachs and iShares.

Which has better risk-adjusted returns?

IEMG currently has the higher Sharpe Ratio (1.21 vs 1.18), 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.