GSLC vs SPY
Goldman Sachs ActiveBeta US Large Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GSLC or SPY?
SPY has been ahead.
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 1.00. GSLC is less concentrated, with 30.2% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GSLC | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $15.2B | $804.7B |
| Dividend Yield | 0.92% | 0.98% |
| Holdings | 438 | 505 |
| YTD Return | +10.62% | +12.47%Best |
| 1Y Return | +13.89% | +17.51%Best |
| 3Y Return (annualized) | +19.95% | +21.18%Best |
| 5Y Return (annualized) | +11.65% | +12.88%Best |
| Volatility (annualized) | 14.9%Best | 15.1% |
| Max Drawdown | -33.7%Best | -34.1% |
| $10,000 over 5 years | $17,350 | $18,327Best |
| Top 10 Weight | 30.2%Best | 38.0% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 17, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 21, 2015 to Sep 11, 2026 (11 years).
GSLC vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11 years both funds cover.
GSLC vs SPY Performance
Goldman Sachs ActiveBeta US Large Cap Equity ETF (GSLC) is an ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GSLC returned +13.89% while SPY returned +17.51%. Year to date, GSLC is up 10.62% versus a gain of 12.47% for SPY.
Over three years, GSLC compounded at +19.95% per year against +21.18% for SPY; over five years the annualized figures are +11.65% and +12.88% respectively. Across the full 11-year window we track, SPY has the edge at +13.95% annualized vs +13.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.9% for GSLC. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.7% for GSLC and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GSLC charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, GSLC currently yields 0.92% against 0.98% for SPY.
Holdings Overlap
93.7% of GSLC's money is in holdings SPY also owns. 64.6% of SPY's money is in holdings GSLC also owns.
Most of GSLC is already inside SPY. Owning both mostly buys the same companies twice.
299 positions in common, counted across the 347 positions we hold weights for in GSLC and 504 in SPY, against full books of 438 and 505.
What only one of them owns
Our book lists 197 positions for SPY that do not appear in our book for GSLC (35.1% of the fund), and 44 for GSLC that do not appear in SPY (4.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in GSLC | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 9.86% | 7.71% | 2.15% |
| AMZNAmazon.Com Inc | 3.67% | 4.08% | 0.41% |
| AVGOBroadcom Inc | 3.62% | 2.97% | 0.65% |
| METAMeta Platforms, Inc. | 2.75% | 1.94% | 0.81% |
| MUMicron Technology, Inc. | 2.11% | 1.51% | 0.60% |
| JPMJpmorgan Chase & Co. | 2.05% | 1.44% | 0.61% |
| LLYEli Lilly & Co. | 2.02% | 1.33% | 0.69% |
| TSLATesla Inc | 1.37% | 1.38% | 0.01% |
| AMDAdvanced Micro Devices Inc. | 1.14% | 1.27% | 0.13% |
| JNJJohnson & Johnson | 1.41% | 0.92% | 0.49% |
93.7% of GSLC is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GSLC or SPY?
GSLC has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, GSLC or SPY?
Over the past year GSLC returned +13.89% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), GSLC annualized +13.17% vs +13.95% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GSLC or SPY?
SPY has been the more volatile fund at 15.1% annualized versus 14.9% for GSLC. Worst drawdown: GSLC -33.7% vs SPY -34.1%.
Should I hold both GSLC and SPY?
GSLC and SPY have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between GSLC and SPY?
93.7% of GSLC's money is in holdings SPY also owns. 64.6% of SPY's is in holdings GSLC also owns. They hold 299 positions in common, counted across the 347 positions we hold weights for in GSLC and 504 in SPY.
Which pays a higher dividend, GSLC or SPY?
GSLC yields 0.92% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than GSLC?
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 1.00. GSLC is less concentrated, with 30.2% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.