GUSA vs. GSEW

Last updated Jun 26, 2026

GUSA (Goldman Sachs MarketBeta U.S. 1000 Equity ETF) and GSEW (Goldman Sachs Equal Weight U.S. Large Cap Equity ETF) are both Large Cap Blend Equities funds from Goldman Sachs - GUSA tracks the Solactive GBS United States 1000 Index - Benchmark TR Gross while GSEW tracks the Solactive US Large Cap Equal Weight Index. Both are passively managed. Over the past 3 years, GUSA returned 20.76%/yr vs 17.29%/yr for GSEW. Their correlation of 0.90 suggests significant overlap in exposure. GUSA charges 0.11%/yr vs 0.09%/yr for GSEW.

Performance

GUSA vs. GSEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUSA achieves a 8.07% return, which is significantly lower than GSEW's 10.76% return.

GUSA

• 1D: 0.01%
• 1M: -1.89%
• YTD: 8.07%
• 6M: 6.74%
• 1Y: 21.87%
• 3Y*: 20.76%
• 5Y*: —
• 10Y*: —

GSEW

• 1D: 0.54%
• 1M: 1.67%
• YTD: 10.76%
• 6M: 9.28%
• 1Y: 18.57%
• 3Y*: 17.29%
• 5Y*: 8.58%
• 10Y*: —

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

GUSA vs. GSEW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF	8.07%	17.51%	24.46%	26.61%	-12.69%
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	10.76%	11.97%	16.89%	17.80%	-10.41%

Correlation

The correlation between GUSA and GSEW is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 12, 2022	0.90

The correlation between GUSA and GSEW has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

GUSA vs. GSEW - Sectors Allocation Comparison

Sectors	GUSA	GSEW
Technology	37.4%	21.5%
Financial Services	10.8%	14.1%
Communication Services	10.4%	4.0%
Consumer Cyclical	10.2%	9.4%
Industrials	9.0%	15.5%
Healthcare	8.6%	11.3%
Consumer Defensive	4.3%	5.5%
Energy	3.2%	4.6%
Utilities	2.1%	5.6%
Real Estate	2.0%	4.2%
Basic Materials	2.0%	4.4%

Return for Risk

GUSA vs. GSEW — Risk / Return Rank

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

GUSA

GUSA Risk / Return Rank: 59
GUSA Sharpe Ratio Rank: 58
GUSA Sortino Ratio Rank: 56
GUSA Omega Ratio Rank: 57
GUSA Calmar Ratio Rank: 56
GUSA Martin Ratio Rank: 67

GSEW

GSEW Risk / Return Rank: 52
GSEW Sharpe Ratio Rank: 50
GSEW Sortino Ratio Rank: 50
GSEW Omega Ratio Rank: 46
GSEW Calmar Ratio Rank: 57
GSEW Martin Ratio Rank: 59

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.

GUSA vs. GSEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW). 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.

	GUSA	GSEW	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.51	+0.22
Sortino ratio: Return per unit of downside risk	2.37	2.15	+0.22
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.44	2.42	+0.02
Martin ratio: Return relative to average drawdown	10.74	9.16	+1.58

GUSA vs. GSEW - Sharpe Ratio Comparison

The current GUSA Sharpe Ratio is 1.72, which is comparable to the GSEW Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of GUSA and GSEW, 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

GUSA vs. GSEW - Drawdown Comparison

The maximum GUSA drawdown since its inception was -19.61%, smaller than the maximum GSEW drawdown of -38.65%. Use the drawdown chart below to compare losses from any high point for GUSA and GSEW.

Drawdown Indicators

	GUSA	GSEW	Difference
Max Drawdown Largest peak-to-trough decline	-19.61%	-38.65%	+19.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-7.72%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-19.61%	-18.18%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.74%	—
Current Drawdown Current decline from peak	-3.11%	-0.69%	-2.42%
Average Drawdown Average peak-to-trough decline	-4.35%	-5.86%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.03%	+0.01%

Volatility

GUSA vs. GSEW - Volatility Comparison

Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) has a higher volatility of 4.67% compared to Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) at 3.87%. This indicates that GUSA's price experiences larger fluctuations and is considered to be riskier than GSEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GUSA	GSEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	3.87%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	9.44%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	12.41%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	16.96%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	19.17%	-1.89%

GUSA vs. GSEW - Expense Ratio Comparison

GUSA has a 0.11% expense ratio, which is higher than GSEW's 0.09% 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

GUSA vs. GSEW - Dividend Comparison

GUSA's dividend yield for the trailing twelve months is around 1.00%, less than GSEW's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	1.39%	1.52%	1.46%	1.64%	1.74%	1.34%	1.53%	1.66%	1.56%	0.54%
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF	1.00%	0.99%	1.16%	1.36%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GUSA and GSEW in my portfolio?

GUSA and GSEW have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GUSA or GSEW?

GUSA has higher volatility (4.67%) compared to GSEW (3.87%). In terms of maximum drawdown, GUSA dropped -19.61% vs GSEW's -38.65%.

Which ETF is better, GUSA or GSEW?

On 3-year performance, GUSA leads with 20.76% vs 17.29% for GSEW. On fees, GSEW is cheaper at 0.09% per year. On volatility, GSEW has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUSA or GSEW?

Over the 3-year period, GUSA has performed better with a 20.76% return vs 17.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUSA or GSEW?

GSEW is cheaper with a 0.09% expense ratio, compared with 0.11% for GUSA.

Which ETF pays a higher dividend yield, GUSA or GSEW?

GSEW has the higher dividend yield at 1.39%, compared with 1.00% for GUSA.

What is the main difference between GUSA and GSEW?

GUSA tracks Solactive GBS United States 1000 Index - Benchmark TR Gross, while GSEW tracks Solactive US Large Cap Equal Weight Index. Their fees differ too: 0.11% for GUSA and 0.09% for GSEW.

Which has better risk-adjusted returns?

GUSA currently has the higher Sharpe Ratio (1.72 vs 1.51), 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.