GSEW vs USEW: Grades, Fees and Holdings Compared

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

GSEWACboe

Cambria US EW ETF

USEWDCboe

Overlap

41.5%by weight

Expense ratio

GSEW −0.21pt a year

GSEW0.09%USEW0.30%

Avg volume · 30D

GSEW 119.3×the volume

GSEW102KUSEW855

GSEW vs USEW Performance

Dec 31, 2025 – Oct 30, 2026

+14.7%GSEW+10.7%USEW

Expense ratio: GSEW 0.09%, better; USEW 0.30%
Fund size: GSEW $2.19B; USEW $189M
1Y total return: GSEW +15.9%; USEW No data
Yield (12M): GSEW 1.39%; USEW No data
Holdings: GSEW 498; USEW 428
Avg volume (30D): GSEW 102K sh, better; USEW 855 sh
NAV per share: GSEW $97.51; USEW $55.84
52W range

ETF.net Grade

Pillar letters and Scores for GSEW, USEW, with each pillar’s weight
Pillar	GSEW	USEW
Cost30% weight	A88Higher	F21
Mission25% weight	A100	Not scored
Risk15% weight	C43Higher	D33
Tradability15% weight	B62Higher	F8
Holdings10% weight	A81Higher	C52
Durability5% weight	B69Higher	D36

Rank among US Equal Weight funds

How we build Categories ›

Same Category. GSEW and USEW 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 USEW 9th 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 8CEDOWFirst Trust Dow 30 Equal Weight ETFScore 44
Rank 9DUSEWCambria US EW ETFScore 25

Our read on each fund

ETF.net Research

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

USEWDCambria US EW 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.

USEW Cambria's swing at equal weight: roughly 400 US stocks, each given a comparable slot, with plain capital appreciation as the stated goal. A boutique newcomer in a corner of the market ruled by cheap index giants.

Stated mandate

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

USEW The Fund seeks capital appreciation.

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.

USEW Equal weighting means the smallest name in the book gets a slot comparable to the largest, so mega-cap concentration is diluted instead of inherited.
About 400 holdings, so no single story stock carries the fund.
The mandate is written down: at least 80% of net assets plus borrowings in US company securities, inside a standard 1940 Act fund wrapper.
Distributions run on a quarterly cadence, and the objective is refreshingly unfussy: capital appreciation.

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.

USEW At 0.30% a year it sits above the 0.20% typical of equal-weight peers, and well above the 0.09% charged by GSEW and EUSA.
It trades lightly next to the category's heavyweights, so the spread you pay can matter more than the expense ratio.
Launched in December 2025, so there is no long record here yet, and no full market cycle to judge the approach against.

Full GSEW profile⁠

Full USEW profile⁠

GSEW vs USEW Holdings

How GSEW and USEW differ

Overlap by weight

41.5%

Shared holdings make up 70.7% of GSEW and 59.6% of USEW.

Level by level

Holdings352 in both41.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

No Sector split for USEW.

Country, concentration and asset class

Country by domicile

Country weights in GSEW and USEW, widest gap first
Country	More in GSEWMore in USEW	GSEW	USEW
United States	GSEW +0.3 points	98.8%	98.5%
Switzerland	GSEW +0.2 points	0.6%	0.4%
Canada	USEW +0.4 points	0.0%	0.4%
Brazil	USEW +0.2 points	0.0%	0.2%
Ireland	GSEW +0.2 points	0.2%	0.0%
China	GSEW +0.2 points	0.2%	0.0%
United Kingdom	Same weight	0.2%	0.2%
Japan	Same weight	0.0%	0.0%
Other countries (8)	USEW +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

GSEW2.4%
USEW22.4%

Securities held

GSEW497
USEW427

Asset class

GSEW: Equity
USEW: Equity

Holdings

Only in GSEW145
In both352
Only in USEW75

Only in GSEW

145 securities, 29.2% of GSEW by weight

Crown Castle Intl Corp0.25%
Equifax Inc.0.25%
Accenture PLC0.24%
Cdw Corporation0.24%
Dow Inc0.24%
Ulta Beauty Inc0.23%
Fortive Corporation0.23%
Royalty Pharma PLC0.23%
Moderna, Inc.0.23%
First Citizens Bankshares Class A0.22%
Ppg Industries, Inc.0.22%
Venture Global, Inc.0.22%
Keurig Dr Pepper Inc0.22%
Nxp Semiconductors N.v.0.22%
Kimberly-Clark Corporation0.22%
International Paper Co.0.22%
Sharkninja, Inc.0.22%
Extra Space Storage Inc.0.22%
Sunbelt Rentals Holdings, Inc.0.22%
Cboe Global Markets, Inc0.22%
Lyondellbasell Industries N.v.0.22%
Medtronic Public Limited Company0.22%
Slb Ltd0.22%
American Tower Corp0.22%
Crh Public Limited Company0.22%
Lennar Corporation0.22%
Api Group Corporation0.22%
Amrize Ltd0.22%
Public Storage0.22%
West Pharmaceutical Services0.22%
Teledyne Technologies Incorporated0.22%
Reliance Inc0.22%
Aercap Holdings NV0.22%
Kenvue Inc.0.22%
American Water Works Co, Inc.0.22%
Rollins Inc.0.22%
Tradeweb Markets Inc0.22%
Constellation Brands Inc0.22%
Viking Holdings Ltd0.22%
Ftai Aviation Ltd0.22%
Carnival Corporation0.22%
Darden Restaurants, Inc.0.22%
Biogen Inc.0.22%
Steris Public Limited Company0.21%
Willis Towers Watson PLC0.21%
Heico Corporation (New)0.21%
Becton, Dickinson and Company0.21%
The Kraft Heinz Co0.21%
Tyson Foods Inc Cl-A0.21%
Guardant Health, Inc.0.21%

Only in USEW

75 securities, 40.3% of USEW by weight

Invesco S&P 500 Low Volatility ETF6.37%
iShares Russell 1000 Value ETF2.08%
Fidelity Value Factor ETF2.04%
State Street SPDR S&P 500 ETF Trust2.03%
Invesco S&P 500 Equal Weight ETF1.85%
State Street SPDR S&P 400 Mid Cap Value ETF1.83%
Vanguard S&P 500 ETF1.52%
Vanguard Morningstar Value ETF1.34%
ProShares S&P 500 Dividend Aristocrats ETF1.12%
Vanguard Morningstar Total Stock Market ETF1.01%
iShares Core S&P 500 ETF1.01%
iShares Core Dividend Growth ETF0.94%
iShares Russell 2000 ETF0.92%
Invesco S&P Global Water Index ETF0.87%
Fidelity Blue Chip Growth ETF0.83%
Alphabet Inc0.77%
Ishares Core Us Value Etf0.75%
Invesco RAFI US 1000 ETF0.74%
Vanguard Morningstar Growth ETF0.69%
Schwab U.S. Large-Cap Growth ETF0.66%
Invesco Large Cap Growth ETF0.65%
Vanguard Information Technology ETF0.58%
JPMorgan US Quality Factor ETF0.56%
Invesco QQQ Trust Series 10.52%
Accel Entertainment Inc0.50%
First Trust Value Line Dividend Index Fund0.48%
Eaton Corp PLC0.43%
First Trust RBA American Industrial Renaissance ETF0.39%
iShares Russell 1000 Growth ETF0.39%
Cambria Tax Aware ETF0.38%
Shopify Inc0.35%
iShares MSCI USA Momentum Factor ETF0.33%
Dimensional US Marketwide Value ETF0.32%
iShares Core S&P Mid-Cap ETF0.31%
iShares MSCI USA Min Vol Factor ETF0.31%
Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Quality Etf0.28%
HF Sinclair Corp0.27%
Elevance Health Inc0.24%
Chubb Ltd0.22%
Spotify Technology SA0.22%
Linde PLC0.21%
Royal Caribbean Cruises Ltd0.20%
Johnson Controls International plc0.19%
FT Energy Income Partners Enhanced Income Etf0.19%
SLB Ltd0.19%
Accenture PLC0.18%
Vylor Inc0.18%
Becton Dickinson & Co0.18%
Medtronic PLC0.18%
Golar LNG Ltd0.15%

Weight gaps

The 100 widest of 352 Holdings in both funds.

Holding weights in GSEW and USEW, widest gap first
Holding	More in GSEWMore in USEW	GSEW	USEW
Apple Inc.AAPL	USEW +1.63 points	0.20%	1.83%
Berkshire Hathaway Inc.BRK.B	USEW +1.35 points	0.21%	1.56%
Microsoft CorporationMSFT	USEW +1.08 points	0.20%	1.28%
JPMorgan Chase & CoJPM	USEW +0.86 points	0.20%	1.06%
NVIDIA CorporationNVDA	USEW +0.83 points	0.18%	1.01%
Thermo Fisher Scientific IncTMO	USEW +0.80 points	0.21%	1.01%
Amazon.com IncAMZN	USEW +0.74 points	0.18%	0.92%
Broadcom Inc.AVGO	USEW +0.73 points	0.18%	0.91%
Meta Platforms Inc-Class AMETA	USEW +0.64 points	0.17%	0.81%
Dell Technologies Inc.DELL	USEW +0.50 points	0.16%	0.66%
Mastercard IncorporatedMA	USEW +0.49 points	0.22%	0.71%
AbbVie Inc.ABBV	USEW +0.44 points	0.21%	0.65%
Starbucks Corp.SBUX	USEW +0.43 points	0.22%	0.65%
Western Digital CorporationWDC	USEW +0.40 points	0.19%	0.59%
Blackstone Group Inc/TheBX	USEW +0.40 points	0.21%	0.61%
Eli Lilly & CoLLY	USEW +0.40 points	0.22%	0.62%
Seagate Technology Holdin PLCSTX	USEW +0.38 points	0.17%	0.55%
Costco Wholesale CorporationCOST	USEW +0.33 points	0.21%	0.54%
Aon Public Limited CompanyAON	USEW +0.32 points	0.23%	0.55%
Visa Inc.V	USEW +0.30 points	0.22%	0.52%
Sandisk CorporationSNDK	USEW +0.25 points	0.15%	0.40%
Alphabet Inc.GOOGL	USEW +0.24 points	0.16%	0.40%
Cisco Systems, Inc.CSCO	USEW +0.24 points	0.18%	0.42%
Crowdstrike Holdings, Inc.CRWD	USEW +0.23 points	0.19%	0.42%
Roper Technologies IncROP	GSEW +0.22 points	0.24%	0.02%
Vulcan Materials CoVMC	GSEW +0.22 points	0.22%	<0.01%
Otis Worldwide CorporationOTIS	GSEW +0.22 points	0.22%	<0.01%
Nasdaq Inc.NDAQ	GSEW +0.22 points	0.22%	<0.01%
Verisk Analytics, Inc.VRSK	GSEW +0.22 points	0.22%	<0.01%
Estee Lauder Cos Inc Cl-AEL	GSEW +0.21 points	0.22%	<0.01%
Packaging Corp of AmericaPKG	GSEW +0.22 points	0.22%	<0.01%
Halliburton CompanyHAL	GSEW +0.21 points	0.22%	<0.01%
Dover CorporationDOV	GSEW +0.22 points	0.22%	<0.01%
Targa Resources Corp.TRGP	GSEW +0.21 points	0.22%	<0.01%
Resmed Inc.RMD	GSEW +0.22 points	0.22%	<0.01%
Ge Vernova LlcGEV	USEW +0.22 points	0.17%	0.39%
Martin Marietta Materials,incMLM	GSEW +0.21 points	0.22%	<0.01%
Intl.flavors & FragranceIFF	GSEW +0.21 points	0.21%	<0.01%
Micron Technology, Inc.MU	USEW +0.21 points	0.17%	0.38%
Fidelity Natl Info Svcs IncFIS	GSEW +0.21 points	0.21%	<0.01%
Consolidated Edison IncED	GSEW +0.21 points	0.21%	<0.01%
Broadridge FinancialBR	GSEW +0.21 points	0.22%	<0.01%
KeycorpKEY	GSEW +0.21 points	0.21%	<0.01%
Church & Dwight Co., Inc.CHD	GSEW +0.21 points	0.21%	<0.01%
D.r. Horton, Inc.DHI	GSEW +0.21 points	0.22%	<0.01%
Centerpoint Energy, IncCNP	GSEW +0.20 points	0.21%	<0.01%
Cincinnati Financial CrpCINF	GSEW +0.21 points	0.22%	0.01%
Alliant Energy CorporationLNT	GSEW +0.21 points	0.21%	<0.01%
Veralto CorporationVLTO	GSEW +0.20 points	0.21%	<0.01%
Palo Alto Networks Inc.PANW	USEW +0.21 points	0.18%	0.39%
Centene CorporationCNC	GSEW +0.21 points	0.21%	<0.01%
Quest Diagnostics IncorporatedDGX	GSEW +0.21 points	0.22%	<0.01%
Us Foods Holding Corp.USFD	GSEW +0.21 points	0.21%	<0.01%
Roblox CorporationRBLX	GSEW +0.20 points	0.22%	0.02%
Fifth Third BancorpFITB	GSEW +0.20 points	0.21%	<0.01%
Markel Group IncMKL	GSEW +0.21 points	0.21%	<0.01%
Regions Financial CorporationRF	GSEW +0.20 points	0.21%	<0.01%
Veeva Systems IncVEEV	GSEW +0.20 points	0.21%	<0.01%
Ppl CorporationPPL	GSEW +0.21 points	0.21%	<0.01%
Brown & Brown, Inc.BRO	GSEW +0.20 points	0.21%	<0.01%
Synchrony FinancialSYF	GSEW +0.20 points	0.21%	<0.01%
Sysco CorporationSYY	GSEW +0.21 points	0.21%	<0.01%
Zscaler, Inc.ZS	GSEW +0.20 points	0.23%	0.03%
Cms Energy CorporationCMS	GSEW +0.21 points	0.21%	<0.01%
Advanced Micro Devices Inc.AMD	USEW +0.21 points	0.17%	0.38%
Agilent Technologies, Inc.A	GSEW +0.21 points	0.21%	<0.01%
Cardinal Health, Inc.CAH	GSEW +0.20 points	0.21%	<0.01%
Southwest Airlines CoLUV	GSEW +0.20 points	0.20%	<0.01%
Humana Inc.HUM	GSEW +0.20 points	0.20%	<0.01%
Ge Healthcare Technologies Inc.GEHC	GSEW +0.20 points	0.23%	0.03%
Ingersoll Rand IncIR	GSEW +0.20 points	0.20%	<0.01%
Tenet Healthcare CorpTHC	GSEW +0.20 points	0.20%	<0.01%
Cognizant TechnologyCTSH	GSEW +0.20 points	0.21%	0.01%
Live Nation Entertainment IncLYV	GSEW +0.20 points	0.20%	<0.01%
Fair Isaac CorporationFICO	GSEW +0.20 points	0.21%	<0.01%
Eversource EnergyES	GSEW +0.20 points	0.20%	<0.01%
Xcel Energy Inc.XEL	GSEW +0.20 points	0.21%	0.01%
Public-Svc Enterprise GroupPEG	GSEW +0.20 points	0.20%	<0.01%
Raymond James Financial, Inc.RJF	GSEW +0.20 points	0.20%	<0.01%
Principal Financial Group, Inc.PFG	GSEW +0.20 points	0.20%	<0.01%
Diamondback Energy IncFANG	GSEW +0.20 points	0.22%	0.02%
Rockwell Automation IncROK	GSEW +0.20 points	0.20%	<0.01%
Hartford Insurance Group Inc/TheHIG	GSEW +0.20 points	0.20%	<0.01%
Autodesk, Inc.ADSK	GSEW +0.19 points	0.20%	<0.01%
Dte Energy CompanyDTE	GSEW +0.20 points	0.21%	<0.01%
Huntington Bancshares IncorporatedHBAN	GSEW +0.20 points	0.21%	<0.01%
Loews CorporationL	GSEW +0.20 points	0.21%	<0.01%
Evergy, Inc.EVRG	GSEW +0.20 points	0.21%	0.01%
M&T Bank CorporationMTB	GSEW +0.19 points	0.20%	<0.01%
PayPal Holdings, Inc.PYPL	GSEW +0.19 points	0.20%	<0.01%
Tapestry, Inc.TPR	GSEW +0.19 points	0.20%	<0.01%
Chipotle Mexican Grill, Inc.CMG	GSEW +0.20 points	0.20%	<0.01%
Sofi Technologies, Inc.SOFI	GSEW +0.19 points	0.22%	0.03%
Pultegroup Inc.PHM	GSEW +0.20 points	0.22%	0.02%
Prudential Financial IncPRU	GSEW +0.19 points	0.20%	<0.01%
Workday, Inc.WDAY	GSEW +0.19 points	0.20%	0.01%
Citizens Financial Group, Inc.CFG	GSEW +0.19 points	0.20%	0.01%
Hp Inc.HPQ	GSEW +0.19 points	0.19%	<0.01%
Cbre Group, Inc.CBRE	GSEW +0.19 points	0.20%	<0.01%
Dominion Energy IncD	GSEW +0.19 points	0.21%	0.01%

All 497 GSEW holdings⁠All 427 USEW 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 USEW Cost

Overpaying USEW vs GSEW

$4,251

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

GSEW 0.09%
$1,898
USEW 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

GSEW 0.09%
USEW 0.30%
Overpaying

Year by year

Year	GSEW	USEW	Overpaying
10	$165	$545	$380
20	$646	$2,113	$1,467
30	$1,898	$6,149	$4,251

Expense ratio

0.09%GSEW, cheaper
0.30%USEW

GSEW0.09%USEW0.30%

0.09%0.50%

Middle half of US Equal Weight funds
Median 0.20%

GSEW cheapest of 9 funds

USEW 8th cheapest of 9 funds

GSEW vs USEW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSEW 1.39%; USEW No data
Payout (12M): GSEW $1.34; USEW No data
Last payment: GSEW $0.38; USEW $0.14
Ex-dividend: GSEW Sep 24, 2026; USEW Sep 28, 2026
Paid on: GSEW Sep 30, 2026; USEW Sep 30, 2026
Frequency: GSEW Quarterly; USEW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSEWQuarterly · 36 paymentsAll GSEW payments⁠

USEWQuarterly · 4 paymentsAll USEW payments⁠

GSEW vs USEW 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%USEW No data
Return per unit of riskSharpe ratio, 3 years: GSEW 1.21USEW No data
Worst fallMax drawdown, 5 years: GSEW −25.8%USEW No data
Market sensitivityBeta, 5 years: GSEW 0.91USEW 0.83; Market = 1

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