AVSC vs GSC

AVSCAAvantis U.S. Small Cap Equity ETF

GSCCGoldman Sachs Small Cap Equity ETF

In short

AVSC Avantis's whole-field small cap fund: roughly 1,500 US small companies in one ticker, run by the manager's own rules rather than a published index, at 0.25% a year.

GSC Goldman's fundamental small-cap desk hand-picks about 100 stocks out of the Russell 2000 universe. The index is the yardstick here, not the blueprint.

Stated mandate

AVSC The fund seeks long-term capital appreciation and invests primarily in a diversified group of U.S. small-cap companies across market sectors and industries, with at least 80% of assets normally invested in U.S. small-cap equity securities.

GSC The Fund's stated objective is long-term growth of capital.

Why people hold it

• AVSC 0.25% a year versus a 0.52% median for active US small-cap funds. Less than half the going rate for a hands-on manager.
• Roughly 1,500 holdings spread across sectors and industries, so one small-cap blowup barely dents the fund.
• One of the strongest all-round implementations in the active US small-cap group on cost, portfolio build and ease of trading.
• Pays quarterly, trades with steady daily volume, and pulled in over a billion dollars since its 2022 launch.

• GSC Actively run by Goldman's fundamental US small-cap research team: roughly 100 names chosen from a 2,000-stock universe, not a slice of the whole index.gsam.comsec.gov
• Mandate discipline. Since its 2023 launch the portfolio has stayed inside its stated brief: small-cap equities, long-term growth of capital.sec.gov
• The brief allows some non-US and emerging-market holdings alongside US small caps, so a good idea isn't fenced out by where it happens to list.

Worth knowing

• AVSC Undiluted small-cap equity, kept at least 80% invested in the asset class. It rides the small-cap cycle with deeper swings than a large-cap fund.
• No declared index to check it against. The manager's stock-selection rules are the product, so you are buying a process, not a published benchmark.
• Its sibling AVUV works the value slice of the same universe at the same 0.25%. Own both and you are doubling up on overlapping small-cap names.

• GSC Costs 0.75%, net of a waiver through December 29, 2026 (0.80% gross), above the category median. Systematic peers AVSC (0.25%) and FESM (0.28%) ask far less.
• Shares trade less often than the category's biggest funds, so spreads can widen. Worth checking the quote before sending a market order.
• About 100 holdings means results can drift well away from the Russell 2000 in either direction. The stock picking is both the point and the risk.

Full AVSC profile⁠

Full GSC profile⁠