GUSE vs. AFOS

Last updated Jun 4, 2026

GUSE (Goldman Sachs Enhanced U.S. Equity ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Their correlation of 0.85 suggests significant overlap in exposure. GUSE charges 0.30%/yr vs 0.45%/yr for AFOS.

Performance

GUSE vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Enhanced U.S. Equity ETF (GUSE) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUSE achieves a 11.62% return, which is significantly lower than AFOS's 32.04% return.

GUSE

• 1D: -0.72%
• 1M: 5.49%
• YTD: 11.62%
• 6M: 11.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GUSE vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	11.62%	2.91%
AFOS ARS Focused Opportunities Strategy ETF	32.04%	6.81%

Correlation

The correlation between GUSE and AFOS is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.85

Return for Risk

GUSE vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Enhanced U.S. Equity ETF (GUSE) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GUSE	AFOS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.16	4.35	-2.19

Drawdowns

GUSE vs. AFOS - Drawdown Comparison

The maximum GUSE drawdown since its inception was -8.54%, smaller than the maximum AFOS drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for GUSE and AFOS.

Drawdown Indicators

	GUSE	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-11.52%	+2.98%
Current Drawdown Current decline from peak	-0.72%	-0.29%	-0.43%
Average Drawdown Average peak-to-trough decline	-1.34%	-1.37%	+0.03%

Volatility

Volatility by Period

	GUSE	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.73%	20.19%	-6.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.73%	20.19%	-6.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.73%	20.19%	-6.46%

GUSE vs. AFOS - Expense Ratio Comparison

GUSE has a 0.30% expense ratio, which is lower than AFOS's 0.45% expense ratio.

Dividends

GUSE vs. AFOS - Dividend Comparison

GUSE's dividend yield for the trailing twelve months is around 0.65%, more than AFOS's 0.22% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
GUSE Goldman Sachs Enhanced U.S. Equity ETF	0.65%	0.73%

Frequently Asked Questions

Can I hold both GUSE and AFOS in my portfolio?

GUSE and AFOS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GUSE or AFOS?

On fees, GUSE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUSE or AFOS?

GUSE is cheaper with a 0.30% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, GUSE or AFOS?

GUSE has the higher dividend yield at 0.65%, compared with 0.22% for AFOS.

What is the main difference between GUSE and AFOS?

They also come from different issuers: Goldman Sachs and ARS Investment Partners. Their fees differ too: 0.30% for GUSE and 0.45% for AFOS.