GSLC vs. RAFE
GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds - GSLC tracks the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index while RAFE tracks the RAFI ESG US Index. Both are passively managed. Over the past 5 years, GSLC returned 11.75%/yr vs 11.46%/yr for RAFE. Their correlation of 0.87 suggests significant overlap in exposure. GSLC charges 0.09%/yr vs 0.30%/yr for RAFE.
Performance
GSLC vs. RAFE - Performance Comparison
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Returns By Period
In the year-to-date period, GSLC achieves a 8.45% return, which is significantly lower than RAFE's 15.70% return.
GSLC
- 1D
- -0.64%
- 1M
- 1.46%
- 6M
- 6.53%
- YTD
- 8.45%
- 1Y
- 18.04%
- 3Y*
- 18.75%
- 5Y*
- 11.75%
- 10Y*
- 14.25%
RAFE
- 1D
- -0.06%
- 1M
- 1.59%
- 6M
- 13.30%
- YTD
- 15.70%
- 1Y
- 28.06%
- 3Y*
- 18.76%
- 5Y*
- 11.46%
- 10Y*
- —
GSLC vs. RAFE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 8.45% | 16.17% | 24.21% | 25.09% | -18.71% | 27.17% | 19.02% | 1.16% |
RAFE PIMCO RAFI ESG U.S. ETF | 15.70% | 17.60% | 13.81% | 18.80% | -13.76% | 30.16% | 5.29% | 0.43% |
Correlation
The correlation between GSLC and RAFE is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2019 | 0.87 |
The correlation between GSLC and RAFE has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
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Return for Risk
GSLC vs. RAFE — Risk / Return Rank
GSLC
RAFE
GSLC vs. RAFE - 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 PIMCO RAFI ESG U.S. ETF (RAFE). 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 | RAFE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.45 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.78 | -1.87 |
| Martin ratioReturn relative to average drawdown | 8.12 | 14.72 | -6.60 |
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Drawdowns
GSLC vs. RAFE - Drawdown Comparison
The maximum GSLC drawdown since its inception was -33.69%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for GSLC and RAFE.
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Drawdown Indicators
| GSLC | RAFE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.69% | -35.74% | +2.05% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -7.46% | -2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.66% | -16.36% | -2.30% |
Max Drawdown (5Y)Largest decline over 5 years | -24.90% | -24.28% | -0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -33.69% | — | — |
Current DrawdownCurrent decline from peak | -0.71% | -0.06% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -6.13% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 1.91% | +0.32% |
Volatility
GSLC vs. RAFE - Volatility Comparison
Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) has a higher volatility of 3.67% compared to PIMCO RAFI ESG U.S. ETF (RAFE) at 2.78%. This indicates that GSLC's price experiences larger fluctuations and is considered to be riskier than RAFE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSLC | RAFE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.67% | 2.78% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 8.59% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 11.34% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 15.07% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 19.33% | -1.66% |
GSLC vs. RAFE - Expense Ratio Comparison
GSLC has a 0.09% expense ratio, which is lower than RAFE's 0.30% expense ratio.
Dividends
GSLC vs. RAFE - Dividend Comparison
GSLC's dividend yield for the trailing twelve months is around 0.94%, less than RAFE's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF | 0.94% | 1.00% | 1.11% | 1.38% | 1.61% | 1.06% | 1.35% | 1.54% | 1.89% | 1.69% | 1.69% | 0.36% |
RAFE PIMCO RAFI ESG U.S. ETF | 1.49% | 1.67% | 1.79% | 1.81% | 2.22% | 1.42% | 2.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSLC and RAFE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSLC has higher volatility (3.67%) compared to RAFE (2.78%). In terms of maximum drawdown, GSLC dropped -33.69% vs RAFE's -35.74%.
On 5-year performance, GSLC leads with 11.75% vs 11.46% for RAFE. On fees, GSLC is cheaper at 0.09% per year. On volatility, RAFE has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSLC has performed better with a 11.75% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSLC is cheaper with a 0.09% expense ratio, compared with 0.30% for RAFE.
RAFE has the higher dividend yield at 1.49%, compared with 0.94% for GSLC.
GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while RAFE tracks RAFI ESG US Index. They also come from different issuers: Goldman Sachs and PIMCO. Their fees differ too: 0.09% for GSLC and 0.30% for RAFE.
RAFE currently has the higher Sharpe Ratio (2.49 vs 1.48), 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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