GUSE vs. RAFE

Last updated Jul 14, 2026

GUSE (Goldman Sachs Enhanced U.S. Equity ETF) and RAFE (PIMCO RAFI ESG U.S. ETF) are both Large Cap Blend Equities funds. GUSE is actively managed, while RAFE is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.30% expense ratio.

Performance

GUSE vs. RAFE - Performance Comparison

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

Returns By Period

In the year-to-date period, GUSE achieves a 11.48% return, which is significantly lower than RAFE's 15.70% return.

GUSE

• 1D: -0.67%
• 1M: 1.58%
• 6M: 8.74%
• YTD: 11.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAFE

• 1D: -0.06%
• 1M: 1.59%
• 6M: 13.30%
• YTD: 15.70%
• 1Y: 28.06%
• 3Y*: 18.76%
• 5Y*: 11.46%
• 10Y*: —

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

GUSE vs. RAFE - Yearly Performance Comparison

	2026 (YTD)	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	11.48%	2.38%
RAFE PIMCO RAFI ESG U.S. ETF	15.70%	2.95%

Correlation

The correlation between GUSE and RAFE is 0.82, 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 17, 2025	0.82

Return for Risk

GUSE vs. RAFE — Risk / Return Rank

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

GUSE

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

RAFE

RAFE Risk / Return Rank: 89
RAFE Sharpe Ratio Rank: 91
RAFE Sortino Ratio Rank: 91
RAFE Omega Ratio Rank: 89
RAFE Calmar Ratio Rank: 86
RAFE Martin Ratio Rank: 88

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.

GUSE vs. RAFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Enhanced U.S. Equity ETF (GUSE) and PIMCO RAFI ESG U.S. ETF (RAFE). 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.

	GUSE	RAFE	Difference
Sharpe ratio: Return per unit of total volatility	—	2.49	—
Sortino ratio: Return per unit of downside risk	—	3.48	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	3.78	—
Martin ratio: Return relative to average drawdown	—	14.72	—

Drawdowns

GUSE vs. RAFE - Drawdown Comparison

The maximum GUSE drawdown since its inception was -8.54%, smaller than the maximum RAFE drawdown of -35.74%. Use the drawdown chart below to compare losses from any high point for GUSE and RAFE.

Drawdown Indicators

	GUSE	RAFE	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-35.74%	+27.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.28%	—
Current Drawdown Current decline from peak	-0.85%	-0.06%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.42%	-6.13%	+4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	GUSE	RAFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	11.34%	+2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.95%	15.07%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	19.33%	-5.38%

GUSE vs. RAFE - Expense Ratio Comparison

Both GUSE and RAFE have an expense ratio of 0.30%.

Dividends

GUSE vs. RAFE - Dividend Comparison

GUSE's dividend yield for the trailing twelve months is around 0.65%, less than RAFE's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GUSE Goldman Sachs Enhanced U.S. Equity ETF	0.65%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%
RAFE PIMCO RAFI ESG U.S. ETF	1.49%	1.67%	1.79%	1.81%	2.22%	1.42%	2.36%

Frequently Asked Questions

Can I hold both GUSE and RAFE in my portfolio?

GUSE and RAFE have a correlation of 0.82, 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 RAFE?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUSE or RAFE?

GUSE and RAFE have the same expense ratio: 0.30% per year.

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

RAFE has the higher dividend yield at 1.49%, compared with 0.65% for GUSE.

What is the main difference between GUSE and RAFE?

They also come from different issuers: Goldman Sachs and PIMCO.