GUSA vs. VOO

Last updated Jun 25, 2026

GUSA (Goldman Sachs MarketBeta U.S. 1000 Equity ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - GUSA is a Large Cap Blend Equities fund tracking the Solactive GBS United States 1000 Index - Benchmark TR Gross, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, GUSA returned 20.49%/yr vs 20.75%/yr for VOO. With a 0.98 correlation, they move nearly in lockstep. GUSA charges 0.11%/yr vs 0.03%/yr for VOO.

Performance

GUSA vs. VOO - 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 Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GUSA having a 7.78% return and VOO slightly higher at 8.08%.

GUSA

• 1D: -0.54%
• 1M: -1.32%
• YTD: 7.78%
• 6M: 6.46%
• 1Y: 21.42%
• 3Y*: 20.49%
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.10%
• 1M: -1.44%
• YTD: 8.08%
• 6M: 6.78%
• 1Y: 22.23%
• 3Y*: 20.75%
• 5Y*: 13.02%
• 10Y*: 15.60%

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

GUSA vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF	7.78%	17.51%	24.46%	26.61%	-12.69%
VOO Vanguard S&P 500 ETF	8.08%	17.82%	24.98%	26.32%	-11.96%

Correlation

The correlation between GUSA and VOO is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 12, 2022	0.98

The correlation between GUSA and VOO has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

GUSA vs. VOO - Sectors Allocation Comparison

Sectors	GUSA	VOO
Technology	37.4%	39.1%
Financial Services	10.8%	10.9%
Communication Services	10.4%	10.5%
Consumer Cyclical	10.2%	9.8%
Industrials	9.0%	7.6%
Healthcare	8.6%	8.3%
Consumer Defensive	4.3%	4.5%
Energy	3.2%	3.2%
Utilities	2.1%	2.5%
Real Estate	2.0%	1.8%
Basic Materials	2.0%	1.7%

Return for Risk

GUSA vs. VOO — Risk / Return Rank

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

GUSA

GUSA Risk / Return Rank: 57
GUSA Sharpe Ratio Rank: 57
GUSA Sortino Ratio Rank: 55
GUSA Omega Ratio Rank: 55
GUSA Calmar Ratio Rank: 55
GUSA Martin Ratio Rank: 66

VOO

VOO Risk / Return Rank: 60
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 57
VOO Omega Ratio Rank: 59
VOO Calmar Ratio Rank: 57
VOO Martin Ratio Rank: 68

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. VOO - 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 Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.80	-0.12
Sortino ratio: Return per unit of downside risk	2.33	2.46	-0.13
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.39	2.51	-0.12
Martin ratio: Return relative to average drawdown	10.55	11.16	-0.61

GUSA vs. VOO - Sharpe Ratio Comparison

The current GUSA Sharpe Ratio is 1.69, which is comparable to the VOO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of GUSA and VOO, 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. VOO - Drawdown Comparison

The maximum GUSA drawdown since its inception was -19.61%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GUSA and VOO.

Drawdown Indicators

	GUSA	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-19.61%	-33.99%	+14.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-8.90%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-19.61%	-18.69%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-3.37%	-3.23%	-0.14%
Average Drawdown Average peak-to-trough decline	-4.35%	-3.68%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.00%	+0.03%

Volatility

GUSA vs. VOO - Volatility Comparison

Goldman Sachs MarketBeta U.S. 1000 Equity ETF (GUSA) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.78% and 4.80%, 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

	GUSA	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	4.80%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	9.79%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	12.43%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	16.91%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.29%	18.02%	-0.73%

GUSA vs. VOO - Expense Ratio Comparison

GUSA has a 0.11% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

GUSA's dividend yield for the trailing twelve months is around 0.75%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF	0.75%	0.99%	1.16%	1.36%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both GUSA and VOO in my portfolio?

With a correlation of 0.99, GUSA and VOO 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, GUSA or VOO?

VOO has higher volatility (4.80%) compared to GUSA (4.78%). In terms of maximum drawdown, GUSA dropped -19.61% vs VOO's -33.99%.

Which ETF is better, GUSA or VOO?

On 3-year performance, VOO leads with 20.75% vs 20.49% for GUSA. On fees, VOO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUSA or VOO?

Over the 3-year period, VOO has performed better with a 20.75% return vs 20.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUSA or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.11% for GUSA.

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

VOO has the higher dividend yield at 1.05%, compared with 0.75% for GUSA.

What is the main difference between GUSA and VOO?

GUSA is categorized as Large Cap Blend Equities, while VOO is S&P 500. GUSA tracks Solactive GBS United States 1000 Index - Benchmark TR Gross, while VOO tracks S&P 500 Index. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.11% for GUSA and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.80 vs 1.69), 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.