Average Daily Volume
300.9K
Fund Overview
The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) is a smart beta ETF that seeks to provide investment results that closely correspond to the performance of the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. This ETF employs a multi-factor approach, focusing on value, momentum, quality, and low volatility factors to select and weight securities. The fund typically invests at least 80% of its assets in securities included in its underlying index, which consists of large-cap U.S. equities. GSLC offers investors a cost-efficient way to gain exposure to a diversified portfolio of large-cap stocks while aiming to outperform traditional market-cap-weighted benchmarks over the long term.
- Asset Class
-
Equity
- Industry
-
N/A
- Annual Dividend Rate
-
- Smart Beta
-
Yes
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 1.22 %
- Currency Hedged
-
No
- Portfolio Turnover
-
17 %
- Dividend Date
-
Why Invest in the GSLC ETF?
Potential Benefits
- Diversified exposure to large-cap U.S. equities through a rules-based, multi-factor approach.
- Lower expense ratio compared to many actively managed funds, providing cost efficiency.
- Potential for enhanced risk-adjusted returns by targeting value, momentum, quality, and low volatility factors.
- Transparent methodology with regular rebalancing to maintain factor exposures.
- Liquidity advantage due to its large asset base and tight bid-ask spreads.
Potential Risks
- Factor-based strategies may underperform in certain market conditions where other factors dominate.
- Concentration in large-cap stocks may limit diversification benefits compared to broader market ETFs.
- Tracking error risk relative to traditional market-cap-weighted benchmarks.
- Higher turnover compared to passive index funds, potentially leading to increased transaction costs.
- Smart beta strategies may not always deliver the intended factor premiums over all time horizons.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+0.7%
|
-0.8%
|
-5.1%
|
+9.5%
|
+4.8%
|
-0.9%
|
+0.6%
|
+2.5%
|
-0.6%
|
+1.0%
|
-
|
-
|
| 2025 |
+2.9%
|
-1.3%
|
-5.6%
|
-0.8%
|
+6.2%
|
+4.9%
|
+2.2%
|
+2.2%
|
+3.0%
|
+1.3%
|
+0.3%
|
+0.3%
|
| 2024 |
+1.9%
|
+5.4%
|
+3.3%
|
-4.5%
|
+4.7%
|
+3.4%
|
+1.3%
|
+2.4%
|
+2.1%
|
-0.8%
|
+6.8%
|
-3.4%
|
| 2023 |
+6.0%
|
-2.3%
|
+3.4%
|
+1.4%
|
-0.1%
|
+6.6%
|
+3.2%
|
-1.7%
|
-4.6%
|
-2.1%
|
+9.0%
|
+4.9%
|
| 2022 |
-6.3%
|
-3.1%
|
+3.3%
|
-8.2%
|
0.0%
|
-8.0%
|
+8.9%
|
-4.0%
|
-9.0%
|
+8.3%
|
+5.4%
|
-5.7%
|
| 2021 |
-0.8%
|
+1.6%
|
+4.0%
|
+5.1%
|
+0.6%
|
+3.1%
|
+2.6%
|
+3.0%
|
-5.1%
|
+6.8%
|
-0.6%
|
+4.5%
|
| 2020 |
+0.4%
|
-7.6%
|
-12.5%
|
+12.5%
|
+5.4%
|
+1.6%
|
+6.1%
|
+6.3%
|
-3.3%
|
-2.5%
|
+10.4%
|
+3.7%
|
| 2019 |
+8.1%
|
+3.2%
|
+1.7%
|
+3.9%
|
-6.3%
|
+6.7%
|
+1.8%
|
-1.3%
|
+1.8%
|
+2.1%
|
+3.6%
|
+2.6%
|
| 2018 |
+5.9%
|
-3.4%
|
-1.8%
|
+0.1%
|
+2.3%
|
+0.5%
|
+3.5%
|
+3.6%
|
+0.4%
|
-7.1%
|
+1.7%
|
-8.9%
|
| 2017 |
+1.6%
|
+4.3%
|
-0.1%
|
+1.2%
|
+1.8%
|
+0.3%
|
+1.8%
|
+0.3%
|
+2.1%
|
+2.6%
|
+3.5%
|
+1.2%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
|
MSFT
|
MICROSOFT CORP |
5.8 % |
|
AAPL
|
APPLE INC |
5.7 % |
|
NVDA
|
NVIDIA CORP |
5.2 % |
|
AMZN
|
AMAZON.COM INC |
3.5 % |
|
META
|
META PLATFORMS INC CLASS A |
2.7 % |
|
GOOGL
|
ALPHABET INC CLASS A |
1.9 % |
|
BRK-B
|
BERKSHIRE HATHAWAY INC CLASS B |
1.5 % |
|
AVGO
|
BROADCOM INC |
1.3 % |
|
LLY
|
ELI LILLY AND CO |
1.3 % |
|
JPM
|
JPMORGAN CHASE & CO |
1.2 % |
Top 10 holdings shown, out of 445 total holdings.
Related ETFs: GSLC vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
GSLC tracks the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, which uses a rules-based methodology to select and weight securities based on four factors: value, momentum, quality, and low volatility. The index methodology applies these factors sequentially, first screening for value, then momentum, then quality, and finally low volatility characteristics. The resulting portfolio typically holds 250-500 large-cap U.S. stocks. The fund rebalances quarterly to maintain its factor exposures and adjusts for changing market conditions. GSLC primarily holds common stocks of U.S. large-cap companies, with sector weights that generally approximate the broad market.
Frequently Asked Questions
What factors does GSLC target in its investment approach?
GSLC targets four primary factors: value (stocks trading at attractive valuations), momentum (stocks with positive price trends), quality (companies with strong balance sheets and profitability), and low volatility (stocks with historically lower price fluctuations).
How often does GSLC rebalance its portfolio?
GSLC rebalances its portfolio quarterly to maintain its target factor exposures and adjust for changing market conditions.
Is GSLC actively managed?
No, GSLC follows a rules-based, passive approach tied to its underlying index, though its methodology incorporates active investment principles through its factor-based selection process.
How does GSLC differ from traditional S&P 500 ETFs?
Unlike S&P 500 ETFs that weight stocks by market capitalization, GSLC selects and weights stocks based on factor characteristics, potentially offering different risk/return characteristics than the broad market.
What is GSLC's expense ratio?
GSLC has an expense ratio of 0.09%, which is competitive with both traditional index funds and many other smart beta ETFs.
Industry Overview
The GSLC ETF operates in the smart beta segment of the U.S. large-cap equity market. Smart beta strategies like GSLC's aim to combine the benefits of passive investing with the potential for enhanced returns through alternative weighting schemes. The U.S. large-cap space is highly competitive but offers exposure to established companies with strong balance sheets and global reach. GSLC's multi-factor approach differentiates it from traditional market-cap-weighted ETFs in this space by systematically targeting specific return drivers while maintaining broad diversification.
Alternative Comparison
Compared to traditional large-cap ETFs like SPY or IVV, GSLC offers a more nuanced approach through its multi-factor methodology. While SPY simply tracks the S&P 500's market-cap weighting, GSLC systematically tilts toward stocks with attractive factor characteristics. Among smart beta peers, GSLC distinguishes itself with its comprehensive four-factor approach, whereas funds like QUAL (quality factor) or USMV (low volatility) focus on single factors. GSLC's expense ratio of 0.09% is competitive with both traditional index funds and many smart beta alternatives.
Issuer Overview
Goldman Sachs Asset Management (GSAM) is the issuer of GSLC, bringing the firm's extensive quantitative research capabilities to ETF investors. GSAM manages over $2 trillion in assets globally and has been expanding its ETF offerings in recent years. The firm's ActiveBeta framework, which underpins GSLC, represents one of its flagship investment approaches, combining academic research with practical implementation.
Conclusion
GSLC represents an attractive option for investors seeking a rules-based, factor-driven approach to U.S. large-cap equities. Its multi-factor methodology, competitive fees, and Goldman Sachs' research backing make it a compelling choice for those looking to potentially enhance returns or reduce risk relative to traditional market-cap-weighted benchmarks. While not without risks, particularly during periods when factor investing underperforms, GSLC offers a balanced approach to smart beta investing with the liquidity and transparency of an ETF structure.
Boost Your Returns with SectorSurfer
Award-winning investment strategy automation