GSSC vs. JPSE

Last updated Jun 4, 2026

GSSC (Goldman Sachs ActiveBeta US Small Cap Equity ETF) and JPSE (JPMorgan Diversified Return U.S. Small Cap Equity ETF) are both Small Cap Growth Equities funds - GSSC tracks the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index while JPSE tracks the JPMorgan Diversified Factor US Small Cap Equity Index. Both are passively managed. Over the past 5 years, GSSC returned 7.20%/yr vs 7.07%/yr for JPSE. With a 0.96 correlation, they move nearly in lockstep. GSSC charges 0.20%/yr vs 0.29%/yr for JPSE.

Performance

GSSC vs. JPSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSSC achieves a 13.55% return, which is significantly lower than JPSE's 15.46% return.

GSSC

• 1D: -1.21%
• 1M: 3.24%
• YTD: 13.55%
• 6M: 13.10%
• 1Y: 30.39%
• 3Y*: 16.72%
• 5Y*: 7.20%
• 10Y*: —

JPSE

• 1D: -1.03%
• 1M: 0.95%
• YTD: 15.46%
• 6M: 14.54%
• 1Y: 31.79%
• 3Y*: 15.24%
• 5Y*: 7.07%
• 10Y*: —

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

GSSC vs. JPSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	13.55%	10.76%	11.14%	17.27%	-16.81%	24.13%	16.02%	23.14%	-9.24%	8.77%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	15.46%	8.77%	8.07%	15.87%	-14.40%	29.31%	12.49%	22.95%	-8.61%	10.09%

Correlation

The correlation between GSSC and JPSE is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 30, 2017	0.96

The correlation between GSSC and JPSE has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

GSSC vs. JPSE - Sectors Allocation Comparison

Sectors	GSSC	JPSE
Industrials	17.7%	11.7%
Financial Services	16.9%	9.7%
Healthcare	16.8%	9.0%
Technology	16.1%	14.6%
Consumer Cyclical	10.6%	7.9%
Energy	4.8%	8.9%
Real Estate	4.3%	13.1%
Consumer Defensive	4.0%	8.1%
Basic Materials	3.9%	9.6%
Communication Services	2.7%	2.7%
Utilities	2.2%	4.8%

Return for Risk

GSSC vs. JPSE — Risk / Return Rank

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

GSSC

GSSC Risk / Return Rank: 51
GSSC Sharpe Ratio Rank: 47
GSSC Sortino Ratio Rank: 48
GSSC Omega Ratio Rank: 44
GSSC Calmar Ratio Rank: 59
GSSC Martin Ratio Rank: 56

JPSE

JPSE Risk / Return Rank: 66
JPSE Sharpe Ratio Rank: 59
JPSE Sortino Ratio Rank: 61
JPSE Omega Ratio Rank: 56
JPSE Calmar Ratio Rank: 78
JPSE Martin Ratio Rank: 75

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.

GSSC vs. JPSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) and JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE). 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.

	GSSC	JPSE	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.00	-0.35
Sortino ratio: Return per unit of downside risk	2.37	2.89	-0.52
Omega ratio: Gain probability vs. loss probability	1.28	1.34	-0.06
Calmar ratio: Return relative to maximum drawdown	2.89	3.99	-1.10
Martin ratio: Return relative to average drawdown	9.64	14.20	-4.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSSC vs. JPSE - Sharpe Ratio Comparison

The current GSSC Sharpe Ratio is 1.65, which is comparable to the JPSE Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of GSSC and JPSE, 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

	GSSC	JPSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.00	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.35	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.49	-0.04

Drawdowns

GSSC vs. JPSE - Drawdown Comparison

The maximum GSSC drawdown since its inception was -41.38%, roughly equal to the maximum JPSE drawdown of -43.02%. Use the drawdown chart below to compare losses from any high point for GSSC and JPSE.

Drawdown Indicators

	GSSC	JPSE	Difference
Max Drawdown Largest peak-to-trough decline	-41.38%	-43.02%	+1.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.56%	-8.00%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-26.05%	-25.49%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-27.81%	-25.56%	-2.25%
Current Drawdown Current decline from peak	-1.21%	-1.37%	+0.16%
Average Drawdown Average peak-to-trough decline	-9.02%	-7.42%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	2.24%	+0.92%

Volatility

GSSC vs. JPSE - Volatility Comparison

Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) has a higher volatility of 5.31% compared to JPMorgan Diversified Return U.S. Small Cap Equity ETF (JPSE) at 4.52%. This indicates that GSSC's price experiences larger fluctuations and is considered to be riskier than JPSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSSC	JPSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	4.52%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	10.90%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	16.00%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	20.08%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.02%	21.82%	+1.20%

GSSC vs. JPSE - Expense Ratio Comparison

GSSC has a 0.20% expense ratio, which is lower than JPSE's 0.29% expense ratio.

Dividends

GSSC vs. JPSE - Dividend Comparison

GSSC's dividend yield for the trailing twelve months is around 1.07%, less than JPSE's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	1.07%	1.17%	1.42%	1.33%	1.31%	1.00%	0.94%	1.24%	1.21%	0.73%	0.00%
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF	1.38%	1.62%	1.66%	1.76%	1.55%	1.24%	1.32%	1.23%	1.18%	0.74%	0.14%

Frequently Asked Questions

Can I hold both GSSC and JPSE in my portfolio?

With a correlation of 0.95, GSSC and JPSE 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, GSSC or JPSE?

GSSC has higher volatility (5.31%) compared to JPSE (4.52%). In terms of maximum drawdown, GSSC dropped -41.38% vs JPSE's -43.02%.

Which ETF is better, GSSC or JPSE?

On 5-year performance, GSSC leads with 7.20% vs 7.07% for JPSE. On fees, GSSC is cheaper at 0.20% per year. On volatility, JPSE has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSSC or JPSE?

Over the 5-year period, GSSC has performed better with a 7.20% return vs 7.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSSC or JPSE?

GSSC is cheaper with a 0.20% expense ratio, compared with 0.29% for JPSE.

Which ETF pays a higher dividend yield, GSSC or JPSE?

JPSE has the higher dividend yield at 1.38%, compared with 1.07% for GSSC.

What is the main difference between GSSC and JPSE?

GSSC tracks Goldman Sachs ActiveBeta U.S. Small Cap Equity Index, while JPSE tracks JPMorgan Diversified Factor US Small Cap Equity Index. They also come from different issuers: Goldman Sachs and JPMorgan. Their fees differ too: 0.20% for GSSC and 0.29% for JPSE.

Which has better risk-adjusted returns?

JPSE currently has the higher Sharpe Ratio (2.00 vs 1.65), 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.