GSLC vs SPY
GSLC vs SPY
Goldman Sachs ActiveBeta US Large Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
GSLC has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GSLC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $14.9B | $789.1B | |
| Dividend Yield | 0.95% | 1.01% | |
| Holdings | 436 | 505 | |
| YTD Return | +9.75% | +11.49% | |
| 1Y Return | +17.80% | +21.37% | |
| 3Y Return (annualized) | +19.43% | +20.76% | |
| 5Y Return (annualized) | +11.65% | +12.94% | |
| Volatility (annualized) | 14.9% | 15.3% | |
| Max Drawdown | -33.7% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 17, 2015 | Jan 22, 1993 |
GSLC vs SPY Performance
Goldman Sachs ActiveBeta US Large Cap Equity ETF (GSLC) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GSLC returned +17.80% while SPY returned +21.37%. Year to date, GSLC is up 9.75% versus a gain of 11.49% for SPY.
Over three years, GSLC compounded at +19.43% per year against +20.76% for SPY; over five years the annualized figures are +11.65% and +12.94% respectively. Across the full 11-year window we track, GSLC has the edge at +13.23% annualized vs +8.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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, a gap of $0 per year that compounds over a long holding period. On income, GSLC currently yields 0.95% against 1.01% for SPY.
Holdings Overlap
GSLC and SPY share 370 holdings out of 559 unique holdings combined, representing a 73.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in GSLC | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 7.67% | 7.09% | 0.58% |
| NVDA | 7.43% | 7.31% | 0.12% |
| MSFT | 4.27% | 4.43% | 0.16% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings GSLC shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, GSLC or SPY?
GSLC has an expense ratio of 0.09% while SPY charges 0.09%. GSLC is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, GSLC or SPY?
Over the past year GSLC returned +17.80% vs +21.37% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), GSLC annualized +13.23% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, GSLC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.9% for GSLC. Worst drawdown: GSLC -33.7% vs SPY -56.5%.
Should I hold both GSLC and SPY?
GSLC and SPY have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between GSLC and SPY?
GSLC and SPY share 370 common holdings with a 73.9% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, GSLC or SPY?
GSLC yields 0.95% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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