SMLF vs. GSSC

Last updated Aug 2, 2026

SMLF (iShares U.S. Small-Cap Equity Factor ETF) and GSSC (Goldman Sachs ActiveBeta US Small Cap Equity ETF) are both exchange-traded funds - SMLF is a Small Cap Blend Equities fund tracking the STOXX U.S. Small-Cap Equity Factor Index, while GSSC is a Small Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index. Both are passively managed. Over the past 5 years, SMLF returned 10.96%/yr vs 8.50%/yr for GSSC. Their 0.95 correlation means they have historically moved very closely together. SMLF charges 0.15%/yr vs 0.20%/yr for GSSC.

Performance

SMLF vs. GSSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Small-Cap Equity Factor ETF (SMLF) and Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMLF achieves a 15.73% return, which is significantly lower than GSSC's 18.48% return.

SMLF

• 1D: -0.34%
• 1M: -2.11%
• 6M: 11.39%
• YTD: 15.73%
• 1Y: 27.75%
• 3Y*: 16.57%
• 5Y*: 10.96%
• 10Y*: 12.07%
• ALL TIME*: 11.32%

GSSC

• 1D: -0.38%
• 1M: -1.26%
• 6M: 14.01%
• YTD: 18.48%
• 1Y: 33.62%
• 3Y*: 15.02%
• 5Y*: 8.50%
• 10Y*: —
• ALL TIME*: 10.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	$4.51M	$3.93M	$2.99M
SMLF iShares U.S. Small-Cap Equity Factor ETF	$11.55M	$13.63M	$14.55M

SMLF vs. GSSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMLF iShares U.S. Small-Cap Equity Factor ETF	15.73%	12.30%	16.33%	19.99%	-12.19%	26.53%	8.38%	21.56%	-8.42%	8.91%
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	18.48%	10.76%	11.14%	17.27%	-16.81%	24.13%	16.02%	23.14%	-9.24%	8.39%

Correlation

The correlation between SMLF and GSSC is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jun 29, 2017	0.95

The correlation between SMLF and GSSC has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

SMLF vs. GSSC - Sectors Allocation Comparison

Sectors	SMLF	GSSC
Technology	19.2%	15.6%
Industrials	18.9%	13.2%
Healthcare	14.4%	21.1%
Financial Services	14.1%	17.0%
Consumer Cyclical	11.7%	10.4%
Real Estate	5.7%	5.2%
Basic Materials	4.2%	3.7%
Energy	3.9%	5.1%
Communication Services	2.9%	2.6%
Consumer Defensive	2.9%	4.0%
Utilities	2.0%	2.2%

Return for Risk

SMLF vs. GSSC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SMLF

SMLF Risk / Return Rank: 70
SMLF Sharpe Ratio Rank: 65
SMLF Sortino Ratio Rank: 66
SMLF Omega Ratio Rank: 60
SMLF Calmar Ratio Rank: 82
SMLF Martin Ratio Rank: 79

GSSC

GSSC Risk / Return Rank: 76
GSSC Sharpe Ratio Rank: 74
GSSC Sortino Ratio Rank: 76
GSSC Omega Ratio Rank: 69
GSSC Calmar Ratio Rank: 81
GSSC Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SMLF vs. GSSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Small-Cap Equity Factor ETF (SMLF) and Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC). 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.

	SMLF	GSSC	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.69	-0.20
Sortino ratio: Return per unit of downside risk	2.16	2.45	-0.29
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio: Return relative to maximum drawdown	3.00	2.96	+0.04
Martin ratio: Return relative to average drawdown	10.03	10.01	+0.02

SMLF vs. GSSC - Sharpe Ratio Comparison

The current SMLF Sharpe Ratio is 1.49, which is comparable to the GSSC Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of SMLF and GSSC, 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

SMLF vs. GSSC - Drawdown Comparison

The maximum SMLF drawdown since its inception was -41.89%, roughly equal to the maximum GSSC drawdown of -41.38%. Use the drawdown chart below to compare losses from any high point for SMLF and GSSC.

Drawdown Indicators

	SMLF	GSSC	Difference
Max Drawdown Largest peak-to-trough decline	-41.89%	-41.38%	-0.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	-10.56%	+1.85%
Max Drawdown (3Y) Largest decline over 3 years	-26.28%	-26.05%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	-26.28%	-27.81%	+1.53%
Max Drawdown (10Y) Largest decline over 10 years	-41.89%	—	—
Current Drawdown Current decline from peak	-3.26%	-2.31%	-0.95%
Average Drawdown Average peak-to-trough decline	-6.53%	-8.88%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	3.12%	-0.52%

Volatility

SMLF vs. GSSC - Volatility Comparison

iShares U.S. Small-Cap Equity Factor ETF (SMLF) and Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) have volatilities of 4.00% and 3.84%, 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

	SMLF	GSSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	3.84%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	13.20%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	18.49%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.01%	21.16%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.76%	22.91%	-1.15%

SMLF vs. GSSC - Expense Ratio Comparison

SMLF has a 0.15% expense ratio, which is lower than GSSC's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SMLF vs. GSSC - Dividend Comparison

SMLF's dividend yield for the trailing twelve months is around 1.02%, less than GSSC's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF	1.05%	1.17%	1.42%	1.33%	1.31%	1.00%	0.94%	1.24%	1.21%	0.73%	0.00%	0.00%
SMLF iShares U.S. Small-Cap Equity Factor ETF	1.02%	1.14%	1.33%	1.13%	1.23%	1.07%	1.33%	1.39%	1.17%	0.93%	0.78%	0.79%

Frequently Asked Questions

Can I hold both SMLF and GSSC in my portfolio?

With a correlation of 0.96, SMLF and GSSC 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, SMLF or GSSC?

SMLF has higher volatility (4.00%) compared to GSSC (3.84%). In terms of maximum drawdown, SMLF dropped -41.89% vs GSSC's -41.38%.

Which ETF is better, SMLF or GSSC?

On 5-year performance, SMLF leads with 10.96% vs 8.50% for GSSC. On fees, SMLF is cheaper at 0.15% per year. On volatility, GSSC has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMLF or GSSC?

Over the 5-year period, SMLF has performed better with a 10.96% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMLF or GSSC?

SMLF is cheaper with a 0.15% expense ratio, compared with 0.20% for GSSC.

Which ETF pays a higher dividend yield, SMLF or GSSC?

GSSC has the higher dividend yield at 1.05%, compared with 1.02% for SMLF.

What is the main difference between SMLF and GSSC?

SMLF is categorized as Small Cap Blend Equities, while GSSC is Small Cap Growth Equities. SMLF tracks STOXX U.S. Small-Cap Equity Factor Index, while GSSC tracks Goldman Sachs ActiveBeta U.S. Small Cap Equity Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.15% for SMLF and 0.20% for GSSC.

Which has better risk-adjusted returns?

GSSC currently has the higher Sharpe Ratio (1.69 vs 1.49), 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.