GSSC vs. SMLF

Last updated Apr 1, 2026

Compare and contrast key facts about Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF).

GSSC and SMLF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GSSC is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index. It was launched on Jun 28, 2017. SMLF is a passively managed fund by iShares that tracks the performance of the MSCI USA Small Cap Diversified Multi-Factor. It was launched on Apr 28, 2015. Both GSSC and SMLF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GSSC vs. SMLF - 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 iShares MSCI USA Small-Cap Multifactor ETF (SMLF). The values are adjusted to include any dividend payments, if applicable.

GSSC vs. SMLF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	-1.16%	10.76%	11.14%	17.27%	-16.81%	24.13%	16.02%	23.14%	-9.24%	8.77%
SMLF iShares MSCI USA Small-Cap Multifactor ETF	1.08%	12.30%	16.33%	19.99%	-12.19%	26.53%	8.38%	21.56%	-8.42%	9.72%

Returns By Period

In the year-to-date period, GSSC achieves a -1.16% return, which is significantly lower than SMLF's 1.08% return.

GSSC

• 1D: 2.88%
• 1M: -5.14%
• YTD: -1.16%
• 6M: 0.13%
• 1Y: 18.99%
• 3Y*: 11.84%
• 5Y*: 4.65%
• 10Y*: —

SMLF

• 1D: 3.34%
• 1M: -4.37%
• YTD: 1.08%
• 6M: 2.12%
• 1Y: 22.93%
• 3Y*: 15.22%
• 5Y*: 8.55%
• 10Y*: 11.24%

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

GSSC vs. SMLF - Expense Ratio Comparison

GSSC has a 0.20% expense ratio, which is lower than SMLF's 0.30% expense ratio.

SMLF

iShares MSCI USA Small-Cap Multifactor ETF

GSSC

Goldman Sachs ActiveBeta US Small Cap Equity ETF

Return for Risk

GSSC vs. SMLF — 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: 50
GSSC Omega Ratio Rank: 44
GSSC Calmar Ratio Rank: 58
GSSC Martin Ratio Rank: 54

SMLF

SMLF Risk / Return Rank: 63
SMLF Sharpe Ratio Rank: 60
SMLF Sortino Ratio Rank: 63
SMLF Omega Ratio Rank: 59
SMLF Calmar Ratio Rank: 65
SMLF Martin Ratio Rank: 70

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. SMLF - 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 iShares MSCI USA Small-Cap Multifactor ETF (SMLF). 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	SMLF	Difference
Sharpe ratio Return per unit of total volatility	0.86	1.02	-0.16
Sortino ratio Return per unit of downside risk	1.34	1.55	-0.20
Omega ratio Gain probability vs. loss probability	1.17	1.21	-0.04
Calmar ratio Return relative to maximum drawdown	1.46	1.56	-0.10
Martin ratio Return relative to average drawdown	5.16	6.74	-1.58
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. SMLF - Sharpe Ratio Comparison

The current GSSC Sharpe Ratio is 0.86, which is comparable to the SMLF Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of GSSC and SMLF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GSSC	SMLF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	1.02	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.41	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.49	-0.11

Correlation

The correlation between GSSC and SMLF is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GSSC vs. SMLF - Dividend Comparison

GSSC's dividend yield for the trailing twelve months is around 1.23%, more than SMLF's 1.17% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	1.23%	1.17%	1.42%	1.33%	1.31%	1.00%	0.94%	1.24%	1.21%	0.73%	0.00%	0.00%
SMLF iShares MSCI USA Small-Cap Multifactor ETF	1.17%	1.14%	1.33%	1.13%	1.23%	1.07%	1.33%	1.39%	1.17%	0.93%	0.78%	0.79%

Drawdowns

GSSC vs. SMLF - Drawdown Comparison

The maximum GSSC drawdown since its inception was -41.38%, roughly equal to the maximum SMLF drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for GSSC and SMLF.

Drawdown Indicators

	GSSC	SMLF	Difference
Max Drawdown Largest peak-to-trough decline	-41.38%	-41.89%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-13.23%	-14.59%	+1.36%
Max Drawdown (5Y) Largest decline over 5 years	-27.81%	-26.28%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.89%	—
Current Drawdown Current decline from peak	-7.99%	-5.66%	-2.33%
Average Drawdown Average peak-to-trough decline	-9.17%	-6.68%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.38%	+0.36%

Volatility

GSSC vs. SMLF - Volatility Comparison

Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) and iShares MSCI USA Small-Cap Multifactor ETF (SMLF) have volatilities of 7.03% and 7.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSSC	SMLF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	7.09%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	13.75%	13.36%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	22.67%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.30%	21.14%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	21.75%	+1.36%