GSEW vs QEW: Grades, Fees and Holdings Compared

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

GSEWACboe

Invesco QQQ Equal Weight ETF

QEWCNasdaq

Overlap

17.1%by weight

Expense ratio

GSEW −0.16pt a year

GSEW0.09%QEW0.25%

Avg volume · 30D

GSEW 5.6×the volume

GSEW102KQEW18.3K

GSEW vs QEW Performance

Jul 31, 2026 – Oct 30, 2026

+2.4%GSEW−0.7%QEW

Expense ratio: GSEW 0.09%, better; QEW 0.25%
Fund size: GSEW $2.19B; QEW $26M
1Y total return: GSEW +15.9%; QEW No data
Yield (12M): GSEW 1.39%; QEW No data
Holdings: GSEW 498; QEW 104
Avg volume (30D): GSEW 102K sh, better; QEW 18.3K sh
NAV per share: GSEW $97.51; QEW $28.81
52W range

ETF.net Grade

Pillar letters and Scores for GSEW, QEW, with each pillar’s weight
Pillar	GSEW	QEW
Cost30% weight	A88Higher	D37
Mission25% weight	A100	Not scored
Risk15% weight	C43	B64Higher
Tradability15% weight	B62Higher	C42
Holdings10% weight	A81Higher	B58
Durability5% weight	B69Higher	F21

Rank among US Equal Weight funds

How we build Categories ›

Same Category. GSEW and QEW are both graded against the same 9 US Equal Weight funds, so their Grades compare head to head.

US Equal Weight⁠

Category · 9 funds

See all 9 ›

GSEW ranks 2nd and QEW 7th of 9 funds in the US Equal Weight Category.

Rank 1AEUSAiShares MSCI USA Equal Weighted ETFScore 80
Rank 2AGSEWGoldman Sachs Equal Weight U.S. Large Cap Equity ETFScore 78
Rank 3AEQALInvesco Russell 1000 Equal Weight ETFScore 70
Rank 6BDFVEDoubleLine Fortune 500 Equal Weight ETFScore 63
Rank 7CQEWInvesco QQQ Equal Weight ETFScore 45
Rank 8CEDOWFirst Trust Dow 30 Equal Weight ETFScore 44

Our read on each fund

ETF.net Research

GSEWAGoldman Sachs Equal Weight U.S. Large Cap Equity ETF

QEWCInvesco QQQ Equal Weight ETF

In short

GSEW Equal weight without the equal-weight markup. GSEW spreads roughly 500 US large caps into same-size slots and charges 0.09%, well under half the typical fee in its corner of the market.

QEW From the house behind the Nasdaq-100's flagship ETF comes the flip side: the same 100 innovation names, each handed a 1% slice at every quarterly reset, so no handful of mega-caps runs the show.

Stated mandate

GSEW The Fund seeks to track, before fees and expenses, the Solactive US Large Cap Equal Weight Index.

QEW The Fund seeks to track, before fees and expenses, the Nasdaq-100 Equal Weighted Index.

Why people hold it

GSEW 0.09% a year against a 0.20% median for equal-weight US large-cap peers. Only iShares' EUSA matches the price.
Every name gets the same slot, so the largest megacap counts no more than the 500th holding. A genuinely different shape than a cap-weighted S&P fund.gsam.com
Hugs the Solactive US Large Cap Equal Weight Index closely, one of the tightest index implementations in its peer group.
Trading since 2017 and now a multi-billion-dollar fund, so this is an established option rather than a recent launch.

QEW Every name starts at a 1% weight and the index resets quarterly, trimming what ran and topping up what lagged. A rules-based check on mega-cap dominance.invesco.com nasdaqomx.com
The sector mix lands differently from the cap-weighted Nasdaq-100: lighter in technology and consumer discretionary, heavier in health care and industrials.invesco.com
Came to market at 0.25%, below what the two long-running equal-weight Nasdaq-100 trackers, QQQE and QQEW, charged at the time of launch.direxion.com yahoo.com investing.com

Worth knowing

GSEW Even weights pull the mix toward the smaller members of the large-cap universe and away from megacap concentration, which has made for a bumpier ride than cap-weighted peers.
Resetting to equal weight means more turnover than a leave-it-alone cap-weighted index, and income lands quarterly rather than monthly.
Moderately traded, not one of the volume giants of the category, so spreads can widen outside the busiest parts of the session.

QEW At 0.25% it runs above broad equal-weight large-cap funds such as GSEW and EUSA at 0.09%. The Nasdaq-100 roster is what the extra fee buys.
A March 2026 launch, so the live record is short and the fund is still building scale. Newer, smaller ETFs tend to trade with wider bid-ask spreads.
Equal weight cuts both ways. Spreading money evenly across roughly 100 names means less exposure to the biggest Nasdaq companies when they are the ones leading.invesco.com

Full GSEW profile⁠

Full QEW profile⁠

GSEW vs QEW Holdings

How GSEW and QEW differ

Overlap by weight

17.1%

Shared holdings make up 88.4% of QEW and 17.1% of GSEW.

Level by level

Holdings89 in both17.1%
Countryby domicile93.3%
Asset classEquity100%

Sector

No Sector split for QEW.

Country, concentration and asset class

Country by domicile

Country weights in GSEW and QEW, widest gap first
Country	More in GSEWMore in QEW	GSEW	QEW
United States	GSEW +5.9 points	98.8%	92.9%
Canada	QEW +2.3 points	0.0%	2.3%
Netherlands	QEW +2.0 points	0.0%	2.0%
United Kingdom	QEW +0.8 points	0.2%	1.0%
Brazil	QEW +0.9 points	0.0%	0.9%
China	QEW +0.8 points	0.2%	1.0%
Switzerland	GSEW +0.6 points	0.6%	0.0%
Ireland	GSEW +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

GSEW2.4%
QEW12.0%

Securities held

GSEW497
QEW102

Asset class

GSEW: Equity
QEW: Equity

Holdings

Only in GSEW408
In both89
Only in QEW13

Only in GSEW

408 securities, 82.8% of GSEW by weight

Crown Castle Intl Corp0.25%
Lockheed Martin Corporation0.25%
Equifax Inc.0.25%
Accenture PLC0.24%
Cdw Corporation0.24%
Dow Inc0.24%
L3HARRIS Technologies Inc0.23%
Aon Public Limited Company0.23%
Northrop Grumman Corp0.23%
Arthur J Gallagher & Co0.23%
Ulta Beauty Inc0.23%
Labcorp Holdings Inc0.23%
Intl Business Machines Corp0.23%
Cheniere Energy, Inc.0.23%
Zscaler, Inc.0.23%
S&P Global Inc.0.23%
Fortive Corporation0.23%
Conocophillips0.23%
Royalty Pharma PLC0.23%
United Rentals, Inc.0.23%
The Home Depot, Inc.0.23%
United Parcel Service, Inc.0.23%
First Citizens Bankshares Class A0.22%
Vulcan Materials Co0.22%
Ppg Industries, Inc.0.22%
Estee Lauder Cos Inc Cl-A0.22%
Nasdaq Inc.0.22%
Roblox Corporation0.22%
Venture Global, Inc.0.22%
Lowes Companies Inc0.22%
Eli Lilly & Co0.22%
Marsh Ord0.22%
Nxp Semiconductors N.v.0.22%
Otis Worldwide Corporation0.22%
Allstate Corporation0.22%
General Dynamics Corp.0.22%
Kimberly-Clark Corporation0.22%
Halliburton Company0.22%
International Paper Co.0.22%
Sharkninja, Inc.0.22%
Eog Resources Inc0.22%
Chevron Corporation0.22%
Sofi Technologies, Inc.0.22%
Extra Space Storage Inc.0.22%
Verisk Analytics, Inc.0.22%
Sunbelt Rentals Holdings, Inc.0.22%
Dollar Tree Stores, Inc.0.22%
Nike Class-B0.22%
Cboe Global Markets, Inc0.22%
Lyondellbasell Industries N.v.0.22%

Only in QEW

13 securities, 11.6% of QEW by weight

NXP Semiconductors NV1.20%
Shopify Inc1.15%
Thomson Reuters Corp1.10%
Linde PLC1.04%
Coca-Cola Europacific Partners PLC1.04%
ASML Holding NV1.00%
Ferrovial NV0.99%
ARM Holdings PLC0.96%
PDD Holdings Inc0.96%
MercadoLibre Inc0.87%
Nebius Group NV0.85%
Alphabet Inc0.43%
Invesco Government & Agency Portfolio0.04%

Weight gaps

All 89 Holdings in both funds, largest gap first.

Holding weights in GSEW and QEW, widest gap first
Holding	More in GSEWMore in QEW	GSEW	QEW
Advanced Micro Devices Inc.AMD	QEW +1.05 points	0.17%	1.22%
Moderna, Inc.MRNA	QEW +1.04 points	0.23%	1.27%
Analog Devices Inc.ADI	QEW +1.00 points	0.21%	1.21%
Texas Instruments Inc.TXN	QEW +1.01 points	0.21%	1.22%
Intuitive Surgical, Inc.ISRG	QEW +1.00 points	0.21%	1.21%
Marriott International, IncMAR	QEW +0.97 points	0.22%	1.19%
Crowdstrike Holdings, Inc.CRWD	QEW +0.96 points	0.19%	1.15%
Walmart IncWMT	QEW +0.95 points	0.22%	1.17%
Datadog, Inc.DDOG	QEW +0.95 points	0.19%	1.14%
Synopsys Inc.SNPS	QEW +0.94 points	0.19%	1.13%
Meta Platforms Inc-Class AMETA	QEW +0.94 points	0.17%	1.11%
Gilead SciencesGILD	QEW +0.93 points	0.22%	1.15%
Microchip Technology IncorporatedMCHP	QEW +0.91 points	0.21%	1.12%
Apple Inc.AAPL	QEW +0.92 points	0.20%	1.12%
Strategy IncMSTR	QEW +0.90 points	0.18%	1.08%
Tesla Inc.TSLA	QEW +0.90 points	0.21%	1.11%
Keurig Dr Pepper IncKDP	QEW +0.90 points	0.22%	1.12%
Qualcomm IncQCOM	QEW +0.90 points	0.20%	1.10%
Marvell Technology, Inc.MRVL	QEW +0.90 points	0.15%	1.05%
PayPal Holdings, Inc.PYPL	QEW +0.90 points	0.20%	1.10%
Intel CorporationINTC	QEW +0.88 points	0.16%	1.04%
Cintas CorporationCTAS	QEW +0.88 points	0.22%	1.10%
Fastenal CompanyFAST	QEW +0.88 points	0.20%	1.08%
Amgen Inc.AMGN	QEW +0.87 points	0.22%	1.09%
Palantir Technologies Inc.PLTR	QEW +0.87 points	0.20%	1.07%
Costco Wholesale CorporationCOST	QEW +0.86 points	0.21%	1.07%
American Electric Power IncAEP	QEW +0.86 points	0.21%	1.07%
Microsoft CorporationMSFT	QEW +0.86 points	0.20%	1.06%
Ge Healthcare Technologies Inc.GEHC	QEW +0.86 points	0.23%	1.09%
Lumentum Holdings Inc.LITE	QEW +0.86 points	0.16%	1.02%
Exelon CorporationEXC	QEW +0.85 points	0.22%	1.07%
Space Exploration Technologies Corp.SPCX	QEW +0.85 points	0.17%	1.02%
Honeywell International IncHON	QEW +0.85 points	0.21%	1.06%
Xcel Energy Inc.XEL	QEW +0.85 points	0.21%	1.06%
Astera Labs, Inc.ALAB	QEW +0.84 points	0.15%	0.99%
Cadence Design Systems IncCDNS	QEW +0.84 points	0.19%	1.03%
Csx CorporationCSX	QEW +0.83 points	0.22%	1.05%
Roper Technologies IncROP	QEW +0.84 points	0.24%	1.08%
Idexx LaboratoriesIDXX	QEW +0.83 points	0.22%	1.05%
Ross Stores IncROST	QEW +0.83 points	0.20%	1.03%
Palo Alto Networks Inc.PANW	QEW +0.83 points	0.18%	1.01%
Regeneron Pharmaceutical IncREGN	QEW +0.83 points	0.21%	1.04%
Diamondback Energy IncFANG	QEW +0.82 points	0.22%	1.04%
Honeywell Aerospace Inc.HONA	QEW +0.83 points	0.20%	1.03%
Micron Technology, Inc.MU	QEW +0.82 points	0.17%	0.99%
Mondelez International, Inc.MDLZ	QEW +0.82 points	0.20%	1.02%
Cisco Systems, Inc.CSCO	QEW +0.82 points	0.18%	1.00%
Monster Beverage CorporationMNST	QEW +0.81 points	0.21%	1.02%
NVIDIA CorporationNVDA	QEW +0.80 points	0.18%	0.98%
O'reilly Automotive, Inc.ORLY	QEW +0.81 points	0.20%	1.01%
Automatic Data Processing IncADP	QEW +0.81 points	0.21%	1.02%
Constellation Energy CorpCEG	QEW +0.81 points	0.17%	0.98%
Kla CorpKLAC	QEW +0.80 points	0.17%	0.97%
Workday, Inc.WDAY	QEW +0.80 points	0.20%	1.00%
Vertex Pharmaceuticals IncorporatedVRTX	QEW +0.80 points	0.21%	1.01%
Monolithic Power Systems, Inc.MPWR	QEW +0.80 points	0.16%	0.96%
Starbucks Corp.SBUX	QEW +0.79 points	0.22%	1.01%
Rocket Lab CorporationRKLB	QEW +0.78 points	0.16%	0.94%
Applied Materials IncAMAT	QEW +0.77 points	0.16%	0.93%
Amazon.com IncAMZN	QEW +0.77 points	0.18%	0.95%
Broadcom Inc.AVGO	QEW +0.77 points	0.18%	0.94%
Pepsico, Inc.PEP	QEW +0.76 points	0.21%	0.97%
Autodesk, Inc.ADSK	QEW +0.75 points	0.20%	0.95%
Airbnb Inc.ABNB	QEW +0.72 points	0.20%	0.92%
Teradyne IncTER	QEW +0.72 points	0.14%	0.86%
Intuit IncINTU	QEW +0.71 points	0.22%	0.93%
Sandisk CorporationSNDK	QEW +0.71 points	0.15%	0.86%
Dexcom, Inc.DXCM	QEW +0.71 points	0.18%	0.89%
Take Two Interactive SoftwareTTWO	QEW +0.70 points	0.19%	0.89%
Lam Research CorporationLRCX	QEW +0.71 points	0.15%	0.86%
Western Digital CorporationWDC	QEW +0.70 points	0.19%	0.89%
Copart, Inc.CPRT	QEW +0.69 points	0.22%	0.91%
Seagate Technology Holdin PLCSTX	QEW +0.69 points	0.17%	0.86%
Old Dominion Freight Line, Inc.ODFL	QEW +0.68 points	0.19%	0.87%
Fortinet, Inc.FTNT	QEW +0.69 points	0.14%	0.83%
Baker Hughes CoBKR	QEW +0.68 points	0.19%	0.87%
Paychex, Inc.PAYX	QEW +0.66 points	0.21%	0.87%
T-Mobile Us, Inc.TMUS	QEW +0.66 points	0.17%	0.83%
Adobe IncADBE	QEW +0.65 points	0.21%	0.86%
Paccar IncPCAR	QEW +0.65 points	0.19%	0.84%
Applovin CorporationAPP	QEW +0.65 points	0.18%	0.83%
Comcast CorporationCMCSA	QEW +0.65 points	0.20%	0.85%
Netflix, Inc.NFLX	QEW +0.60 points	0.17%	0.78%
Doordash IncDASH	QEW +0.60 points	0.18%	0.78%
Coreweave, Inc.CRWV	QEW +0.60 points	0.13%	0.73%
Alnylam Pharmaceuticals Inc.ALNY	QEW +0.58 points	0.15%	0.73%
Booking Holdings Inc.BKNG	QEW +0.58 points	0.19%	0.77%
Axon Enterprise, Inc.AXON	QEW +0.57 points	0.21%	0.78%
Alphabet Inc.GOOGL	QEW +0.26 points	0.16%	0.42%

All 497 GSEW holdings⁠All 102 QEW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GSEW vs QEW Cost

Overpaying QEW vs GSEW

$3,261

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GSEW 0.09%
$1,898
QEW 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

GSEW 0.09%
QEW 0.25%
Overpaying

Year by year

Year	GSEW	QEW	Overpaying
10	$165	$455	$290
20	$646	$1,769	$1,123
30	$1,898	$5,159	$3,261

Expense ratio

0.09%GSEW, cheaper
0.25%QEW

GSEW0.09%QEW0.25%

0.09%0.50%

Middle half of US Equal Weight funds
Median 0.20%

GSEW cheapest of 9 funds

QEW 6th cheapest of 9 funds

GSEW vs QEW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSEW 1.39%; QEW No data
Payout (12M): GSEW $1.34; QEW No data
Last payment: GSEW $0.38; QEW $0.05
Ex-dividend: GSEW Sep 24, 2026; QEW Sep 21, 2026
Paid on: GSEW Sep 30, 2026; QEW Sep 25, 2026
Frequency: GSEW Quarterly; QEW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSEWQuarterly · 36 paymentsAll GSEW payments⁠

QEWQuarterly · 2 paymentsAll QEW payments⁠

GSEW vs QEW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GSEW 12.7%QEW No data
Return per unit of riskSharpe ratio, 3 years: GSEW 1.21QEW No data
Worst fallMax drawdown, 5 years: GSEW −25.8%QEW No data
Market sensitivityBeta, 5 years: GSEW 0.91QEW 0.75; Market = 1

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