GSSC vs. SPMD
GSSC (Goldman Sachs ActiveBeta US Small Cap Equity ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both exchange-traded funds - GSSC is a Small Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index, while SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 5 years, GSSC returned 7.20%/yr vs 8.20%/yr for SPMD. Their correlation of 0.94 suggests significant overlap in exposure. GSSC charges 0.20%/yr vs 0.05%/yr for SPMD.
Performance
GSSC vs. SPMD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GSSC having a 13.55% return and SPMD slightly higher at 14.16%.
GSSC
- 1D
- -1.21%
- 1M
- 3.24%
- YTD
- 13.55%
- 6M
- 13.10%
- 1Y
- 30.39%
- 3Y*
- 16.72%
- 5Y*
- 7.20%
- 10Y*
- —
SPMD
- 1D
- -0.08%
- 1M
- 3.86%
- YTD
- 14.16%
- 6M
- 14.41%
- 1Y
- 25.49%
- 3Y*
- 16.15%
- 5Y*
- 8.20%
- 10Y*
- 11.51%
GSSC vs. SPMD - 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% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 9.55% |
Correlation
The correlation between GSSC and SPMD is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2017 | 0.94 |
The correlation between GSSC and SPMD has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
GSSC vs. SPMD — Risk / Return Rank
GSSC
SPMD
GSSC vs. SPMD - 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 SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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 | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.89 | 0.00 |
| Martin ratioReturn relative to average drawdown | 9.64 | 10.61 | -0.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSSC | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.65 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.42 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.45 | -0.01 |
Drawdowns
GSSC vs. SPMD - Drawdown Comparison
The maximum GSSC drawdown since its inception was -41.38%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for GSSC and SPMD.
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Drawdown Indicators
| GSSC | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.38% | -57.62% | +16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -8.86% | -1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -26.05% | -24.08% | -1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -27.81% | -24.08% | -3.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | -1.21% | -0.08% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -9.02% | -8.12% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 2.41% | +0.75% |
Volatility
GSSC vs. SPMD - Volatility Comparison
Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) has a higher volatility of 5.31% compared to SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) at 4.38%. This indicates that GSSC's price experiences larger fluctuations and is considered to be riskier than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSSC | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 4.38% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 12.82% | 11.37% | +1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 15.57% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.26% | 19.70% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.02% | 21.18% | +1.84% |
GSSC vs. SPMD - Expense Ratio Comparison
GSSC has a 0.20% expense ratio, which is higher than SPMD's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GSSC vs. SPMD - Dividend Comparison
GSSC's dividend yield for the trailing twelve months is around 1.07%, less than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.23% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Frequently Asked Questions
With a correlation of 0.92, GSSC and SPMD 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.
GSSC has higher volatility (5.31%) compared to SPMD (4.38%). In terms of maximum drawdown, GSSC dropped -41.38% vs SPMD's -57.62%.
On 5-year performance, SPMD leads with 8.20% vs 7.20% for GSSC. On fees, SPMD is cheaper at 0.05% per year. On volatility, SPMD has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPMD has performed better with a 8.20% return vs 7.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMD is cheaper with a 0.05% expense ratio, compared with 0.20% for GSSC.
SPMD has the higher dividend yield at 1.23%, compared with 1.07% for GSSC.
GSSC is categorized as Small Cap Growth Equities, while SPMD is Mid Cap Blend Equities. GSSC tracks Goldman Sachs ActiveBeta U.S. Small Cap Equity Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.20% for GSSC and 0.05% for SPMD.
SPMD currently has the higher Sharpe Ratio (1.65 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.
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