GSLC vs. USSG

Last updated Jun 3, 2026

GSLC (Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF) and USSG (Xtrackers MSCI USA ESG Leaders Equity ETF) are both Large Cap Growth Equities funds - GSLC tracks the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index while USSG tracks the MSCI USA ESG Leaders. Both are passively managed. Over the past 5 years, GSLC returned 13.05%/yr vs 14.22%/yr for USSG. With a 0.97 correlation, they move nearly in lockstep. GSLC charges 0.09%/yr vs 0.10%/yr for USSG.

Performance

GSLC vs. USSG - 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 Xtrackers MSCI USA ESG Leaders Equity ETF (USSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSLC achieves a 9.23% return, which is significantly lower than USSG's 10.39% return.

GSLC

• 1D: 0.14%
• 1M: 4.85%
• YTD: 9.23%
• 6M: 9.80%
• 1Y: 24.99%
• 3Y*: 21.12%
• 5Y*: 13.05%
• 10Y*: 14.72%

USSG

• 1D: -0.41%
• 1M: 4.79%
• YTD: 10.39%
• 6M: 11.42%
• 1Y: 29.67%
• 3Y*: 22.71%
• 5Y*: 14.22%
• 10Y*: —

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

GSLC vs. USSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	9.23%	16.17%	24.21%	25.09%	-18.71%	27.17%	19.02%	19.01%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	10.39%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%

Correlation

The correlation between GSLC and USSG is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.97

The correlation between GSLC and USSG has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

GSLC vs. USSG - Sectors Allocation Comparison

Sectors	GSLC	USSG
Technology	38.0%	36.9%
Financial Services	10.6%	10.6%
Consumer Cyclical	10.6%	8.6%
Communication Services	10.5%	14.5%
Healthcare	8.3%	9.6%
Industrials	8.2%	8.1%
Consumer Defensive	5.5%	4.2%
Energy	3.2%	2.1%
Utilities	2.4%	1.1%
Basic Materials	1.5%	2.1%
Real Estate	1.1%	2.2%

Return for Risk

GSLC vs. USSG — Risk / Return Rank

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

GSLC

GSLC Risk / Return Rank: 62
GSLC Sharpe Ratio Rank: 63
GSLC Sortino Ratio Rank: 63
GSLC Omega Ratio Rank: 63
GSLC Calmar Ratio Rank: 54
GSLC Martin Ratio Rank: 65

USSG

USSG Risk / Return Rank: 63
USSG Sharpe Ratio Rank: 68
USSG Sortino Ratio Rank: 68
USSG Omega Ratio Rank: 66
USSG Calmar Ratio Rank: 52
USSG Martin Ratio Rank: 62

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. USSG - 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 Xtrackers MSCI USA ESG Leaders Equity ETF (USSG). 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.

	GSLC	USSG	Difference
Sharpe ratio Return per unit of total volatility	2.15	2.28	-0.13
Sortino ratio Return per unit of downside risk	2.95	3.18	-0.24
Omega ratio Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio Return relative to maximum drawdown	2.70	2.66	+0.04
Martin ratio Return relative to average drawdown	12.04	11.41	+0.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSLC vs. USSG - Sharpe Ratio Comparison

The current GSLC Sharpe Ratio is 2.15, which is comparable to the USSG Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of GSLC and USSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSLC	USSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.28	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.81	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.85	-0.02

Drawdowns

GSLC vs. USSG - Drawdown Comparison

The maximum GSLC drawdown since its inception was -33.69%, roughly equal to the maximum USSG drawdown of -34.10%. Use the drawdown chart below to compare losses from any high point for GSLC and USSG.

Drawdown Indicators

	GSLC	USSG	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-34.10%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-11.20%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-18.66%	-20.00%	+1.34%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-27.00%	+2.10%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	—	—
Current Drawdown Current decline from peak	0.00%	-0.41%	+0.41%
Average Drawdown Average peak-to-trough decline	-4.39%	-5.60%	+1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.61%	-0.48%

Volatility

GSLC vs. USSG - Volatility Comparison

The current volatility for Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) is 2.65%, while Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) has a volatility of 3.74%. This indicates that GSLC experiences smaller price fluctuations and is considered to be less risky than USSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSLC	USSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	3.74%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	10.01%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	13.09%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	17.59%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	20.16%	-2.48%

GSLC vs. USSG - Expense Ratio Comparison

GSLC has a 0.09% expense ratio, which is lower than USSG's 0.10% 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. USSG - Dividend Comparison

GSLC's dividend yield for the trailing twelve months is around 0.92%, less than USSG's 0.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	0.92%	1.00%	1.11%	1.38%	1.61%	1.06%	1.35%	1.54%	1.89%	1.69%	1.69%	0.36%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.94%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSLC and USSG in my portfolio?

With a correlation of 0.93, GSLC and USSG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSLC or USSG?

USSG has higher volatility (3.74%) compared to GSLC (2.65%). In terms of maximum drawdown, GSLC dropped -33.69% vs USSG's -34.10%.

Which ETF is better, GSLC or USSG?

On 5-year performance, USSG leads with 14.22% vs 13.05% for GSLC. On fees, GSLC is cheaper at 0.09% per year. On volatility, GSLC has been the lower-risk option at 2.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSLC or USSG?

Over the 5-year period, USSG has performed better with a 14.22% return vs 13.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSLC or USSG?

GSLC is cheaper with a 0.09% expense ratio, compared with 0.10% for USSG.

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

USSG has the higher dividend yield at 0.94%, compared with 0.92% for GSLC.

What is the main difference between GSLC and USSG?

GSLC tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while USSG tracks MSCI USA ESG Leaders. They also come from different issuers: Goldman Sachs and Deutsche Bank. Their fees differ too: 0.09% for GSLC and 0.10% for USSG.

Which has better risk-adjusted returns?

USSG currently has the higher Sharpe Ratio (2.28 vs 2.15), 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.