GSLC vs. TNBIX

Last updated Jun 24, 2026

GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) and TNBIX (1290 SmartBeta Equity Fund) are both funds - GSLC is a Large Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while TNBIX is a Global Equities fund managed by 1290 Funds. Over the past 10 years, GSLC returned 14.65%/yr vs 10.84%/yr for TNBIX. Their correlation of 0.92 suggests significant overlap in exposure. GSLC charges 0.09%/yr vs 0.85%/yr for TNBIX.

Performance

GSLC vs. TNBIX - 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 1290 SmartBeta Equity Fund (TNBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSLC achieves a 5.86% return, which is significantly higher than TNBIX's 2.82% return. Over the past 10 years, GSLC has outperformed TNBIX with an annualized return of 14.65%, while TNBIX has yielded a comparatively lower 10.84% annualized return.

GSLC

• 1D: -1.22%
• 1M: -1.29%
• YTD: 5.86%
• 6M: 4.87%
• 1Y: 19.37%
• 3Y*: 19.26%
• 5Y*: 11.78%
• 10Y*: 14.65%

TNBIX

• 1D: -0.57%
• 1M: -1.47%
• YTD: 2.82%
• 6M: 2.16%
• 1Y: 11.00%
• 3Y*: 14.00%
• 5Y*: 8.72%
• 10Y*: 10.84%

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

GSLC vs. TNBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	5.86%	16.17%	24.21%	25.09%	-18.71%	27.17%	19.02%	30.74%	-4.07%	22.49%
TNBIX 1290 SmartBeta Equity Fund	2.82%	13.93%	16.70%	16.79%	-14.43%	22.84%	11.09%	26.66%	-5.66%	19.93%

Correlation

The correlation between GSLC and TNBIX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015	0.92

The correlation between GSLC and TNBIX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

GSLC vs. TNBIX — Risk / Return Rank

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

GSLC

GSLC Risk / Return Rank: 47
GSLC Sharpe Ratio Rank: 48
GSLC Sortino Ratio Rank: 46
GSLC Omega Ratio Rank: 47
GSLC Calmar Ratio Rank: 43
GSLC Martin Ratio Rank: 53

TNBIX

TNBIX Risk / Return Rank: 26
TNBIX Sharpe Ratio Rank: 26
TNBIX Sortino Ratio Rank: 26
TNBIX Omega Ratio Rank: 25
TNBIX Calmar Ratio Rank: 21
TNBIX Martin Ratio Rank: 33

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. TNBIX - 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 1290 SmartBeta Equity Fund (TNBIX). 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	TNBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.34	+0.25
Sortino ratio: Return per unit of downside risk	2.19	1.93	+0.26
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.05
Calmar ratio: Return relative to maximum drawdown	2.05	1.56	+0.49
Martin ratio: Return relative to average drawdown	8.86	6.88	+1.98

GSLC vs. TNBIX - Sharpe Ratio Comparison

The current GSLC Sharpe Ratio is 1.59, which is comparable to the TNBIX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of GSLC and TNBIX, 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. TNBIX - Drawdown Comparison

The maximum GSLC drawdown since its inception was -33.69%, which is greater than TNBIX's maximum drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for GSLC and TNBIX.

Drawdown Indicators

	GSLC	TNBIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-30.11%	-3.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-7.76%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-12.07%	-6.59%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-23.13%	-1.77%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	-30.11%	-3.58%
Current Drawdown Current decline from peak	-3.08%	-1.61%	-1.47%
Average Drawdown Average peak-to-trough decline	-4.38%	-3.95%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.76%	+0.43%

Volatility

GSLC vs. TNBIX - Volatility Comparison

Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) has a higher volatility of 4.60% compared to 1290 SmartBeta Equity Fund (TNBIX) at 2.69%. This indicates that GSLC's price experiences larger fluctuations and is considered to be riskier than TNBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSLC	TNBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	2.69%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	7.21%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.28%	9.10%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	13.25%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	14.79%	+2.91%

GSLC vs. TNBIX - Expense Ratio Comparison

GSLC has a 0.09% expense ratio, which is lower than TNBIX's 0.85% expense ratio.

Dividends

GSLC vs. TNBIX - Dividend Comparison

GSLC's dividend yield for the trailing twelve months is around 0.95%, less than TNBIX's 4.66% 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%
TNBIX 1290 SmartBeta Equity Fund	4.66%	4.80%	4.47%	1.44%	1.08%	7.47%	1.31%	2.27%	5.45%	1.59%	1.32%	0.00%

Frequently Asked Questions

Can I hold both GSLC and TNBIX in my portfolio?

GSLC and TNBIX have a correlation of 0.87, 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 TNBIX?

GSLC has higher volatility (4.60%) compared to TNBIX (2.69%). In terms of maximum drawdown, GSLC dropped -33.69% vs TNBIX's -30.11%.

Which has better risk-adjusted returns?

GSLC currently has the higher Sharpe Ratio (1.59 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.