GSLC vs ILCV: Grades, Fees and Holdings Compared

Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF

GSLCANYSE Arca

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

56.5%by weight

Expense ratio

ILCV −0.05pt a year

GSLC0.09%ILCV0.04%

Avg volume · 30D

GSLC 11.0×the volume

GSLC268KILCV24.4K

10Y return · a year

GSLC +2.3pt

GSLC+14.6%ILCV+12.3%

GSLC vs ILCV Performance

Oct 29, 2021 – Oct 30, 2026

+67.6%GSLC+81.1%ILCV

Expense ratio: GSLC 0.09%; ILCV 0.04%, better
Fund size: GSLC $15.2B; ILCV $1.37B
1Y total return: GSLC +10.5%; ILCV +21.0%, better
Yield (12M): GSLC 1.03%; ILCV 1.51%, better
Holdings: GSLC 428; ILCV 375
Avg volume (30D): GSLC 268K sh, better; ILCV 24.4K sh
NAV per share: GSLC $146.90; ILCV $109.27
52W range

ETF.net Grade

Pillar letters and Scores for GSLC, ILCV, with each pillar’s weight
Pillar	GSLC	ILCV
Cost30% weight	A93	A99Higher
Mission25% weight	A92Higher	A82
Risk15% weight	C52	A90Higher
Tradability15% weight	A75Higher	B64
Holdings10% weight	D38	D39Higher
Durability5% weight	A78	A82Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. GSLC and ILCV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

ILCV ranks 2nd and GSLC 11th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 9AGVUSGoldman Sachs MarketBeta Russell 1000 Value Equity ETFScore 78
Rank 11AGSLCGoldman Sachs ActiveBeta U.S. Large Cap Equity ETFScore 77
Rank 12ARECSColumbia Research Enhanced Core ETFScore 76

Our read on each fund

ETF.net Research

GSLCAGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF

ILCVAiShares Morningstar Value ETF

In short

GSLC Goldman's first ETF, out in 2015, packs value, momentum, quality and low volatility into one large-cap portfolio and charges 0.09% for it. Multifactor machinery at index-fund pricing, with tilts kept deliberately modest.

ILCV Value done the thorough way: roughly 400 large- and mid-cap US stocks screened on five separate value measures, not just cheap book value. Running since 2004 at four basis points, it's one of the cheapest tickets into the value factor.

Stated mandate

GSLC The Fund seeks to track the Goldman Sachs ActiveBeta® U.S. Large Cap Equity Index, which provides exposure to large-capitalization U.S. issuers.

ILCV The fund seeks to track an index of U.S. large- and mid-cap stocks selected with value-oriented measures including forward earnings, book value, sales, cash flow, and dividend yield.

Why people hold it

GSLC 0.09% a year, against a roughly 0.32% median for US multifactor funds. Factor exposure priced like plain beta.
Four factors (value, momentum, quality, low volatility) each get their own sleeve, combined in equal weights and rebalanced quarterly. No guessing which style leads.sec.gov
The index rules include a turnover minimization step that skips trades not worth making, which holds down the churn factor strategies are known for.solactive.com
A multi-billion-dollar fund running since 2015 that tracks its index tightly, and one of the strongest implementations in the US multifactor group.

ILCV Charges 0.04% a year against a 0.32% median for its factor peer group. Undercuts well-regarded rivals like VONV (0.06%) and FNDX (0.25%).
Value gets defined five ways: forward earnings, book value, sales, cash flow and dividend yield. Wider lens than a single price-to-book screen.ishares.com
Spreads the bet across about 400 large- and mid-cap names and distributes quarterly.
Trading since 2004 and now a multi-billion-dollar fund, it ranks among the strongest implementations in its factor cohort.

Worth knowing

GSLC About 400 large-cap US names drawn from a broad reference index, so the tilts are a nudge on top of the market rather than a break from it.sec.gov
Cheaper cohort options exist (VYM at 0.04%, VONV at 0.06%), the trade-off being a single style instead of four blended together.
A proprietary Goldman index, not a household benchmark, so results can part ways with the standard large-cap yardstick in either direction. Pays quarterly.

ILCV One of the quieter tickers in its category. Thin volume means spreads matter more here than on a mega-cap index fund, and limit orders are the usual tool.
Value-only by design. It skips the market's priciest growth leaders, so it moves differently from a total-market fund in both directions.ishares.com
Large and mid caps only. Small-cap value sits outside the mandate.

Full GSLC profile⁠

Full ILCV profile⁠

GSLC vs ILCV Holdings

How GSLC and ILCV differ

Overlap by weight

56.5%

Shared holdings make up 92.5% of ILCV and 69.1% of GSLC.

Level by level

Holdings288 in both56.5%
Sector11 Sectors81.5%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in GSLC and ILCV, widest gap first
Sector	More in GSLCMore in ILCV	GSLC	ILCV
Technology	GSLC +16.4 points	40.3%	23.9%
Financials	ILCV +7.2 points	10.5%	17.7%
Health Care	ILCV +3.5 points	9.9%	13.4%
Energy	ILCV +3.4 points	3.2%	6.6%
Consumer Staples	ILCV +2.1 points	5.2%	7.3%
Utilities	ILCV +1.3 points	1.7%	3.0%
Communication	GSLC +1.2 points	10.0%	8.8%
Materials	ILCV +0.6 points	1.5%	2.1%
Consumer Discretionary	GSLC +0.6 points	9.2%	8.6%
Real Estate	ILCV +0.6 points	1.1%	1.7%
Industrials	GSLC +0.4 points	7.3%	6.9%

Country, concentration and asset class

Country by domicile

Country weights in GSLC and ILCV, widest gap first
Country	More in GSLCMore in ILCV	GSLC	ILCV
United States	GSLC +0.4 points	99.6%	99.2%
Switzerland	ILCV +0.2 points	0.2%	0.4%
China	GSLC +0.1 points	0.2%	0.1%
Brazil	ILCV +0.1 points	0.0%	0.1%
United Kingdom	ILCV +0.1 points	0.0%	0.1%
Ireland	ILCV +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

GSLC34.9%
ILCV34.4%

Securities held

GSLC426
ILCV372

Asset class

GSLC: Equity
ILCV: Equity

Holdings

Only in GSLC138
In both288
Only in ILCV84

Only in GSLC

138 securities, 30.2% of GSLC by weight

NVIDIA Corporation7.73%
Broadcom Inc.2.15%
Eli Lilly & Co1.44%
Advanced Micro Devices Inc.0.82%
Atlassian Corp0.58%
Lam Research Corporation0.57%
Natera, Inc.0.50%
Applied Materials Inc0.50%
Verisign, Inc.0.43%
W.w. Grainger Inc0.41%
Palantir Technologies Inc.0.39%
Everpure Inc0.39%
Kla Corp0.36%
Western Digital Corporation0.36%
Intel Corporation0.35%
Fastenal Company0.34%
Seagate Technology Holdin PLC0.33%
Idexx Laboratories0.30%
Cintas Corporation0.29%
Fortinet, Inc.0.27%
Moody's Corporation0.25%
General Electric Company0.25%
Estee Lauder Cos Inc Cl-A0.24%
Accenture PLC0.24%
Netflix, Inc.0.23%
Amphenol Corp Cl-A (New)0.22%
Ralph Lauren Corp0.22%
Linde PLC0.22%
On Semiconductor Corporation0.21%
Autodesk, Inc.0.20%
Ge Vernova Llc0.20%
Chubb Limited0.20%
Applovin Corporation0.20%
O'reilly Automotive, Inc.0.19%
Vivmark Residential0.19%
Rollins Inc.0.19%
Westinghouse Air Brake Technologies Corporation0.18%
Elevance Health Inc0.17%
Carnival Corporation0.17%
Fair Isaac Corporation0.16%
Crowdstrike Holdings, Inc.0.16%
Reddit, Inc.0.16%
Jabil Inc0.16%
Corning Incorporated0.16%
Teradyne Inc0.15%
Monster Beverage Corporation0.15%
Ametek Inc (New)0.15%
Motorola Solutions Inc0.15%
Palo Alto Networks Inc.0.14%
Fiserv, Inc.0.14%

Only in ILCV

84 securities, 7.3% of ILCV by weight

Goldman Sachs Group0.77%
Linde PLC0.66%
Accenture PLC Class A0.43%
Chubb0.36%
Medtronic PLC0.35%
Eaton PLC0.26%
S&P Global0.26%
Elevance Health Inc0.25%
Slb0.23%
Starbucks Corp0.17%
Becton Dickinson0.15%
Strategy Inc Class A0.15%
Keurig Dr Pepper Inc0.14%
Mercadolibre0.12%
Crh Public Limited PLC0.11%
Crown Castle Inc0.11%
Air Products and Chemicals0.11%
Kkr and Co Inc0.10%
Paychex0.10%
Kenvue0.10%
Public Storage Reit0.10%
Arthur J Gallagher0.08%
Fiserv Inc0.07%
Digital Realty Trust Reit0.07%
United Rentals0.07%
International Flavors & Fragrances0.07%
Carnival Corp Ltd0.06%
Smurfit Westrock PLC0.06%
Amcor PLC0.06%
Nxp Semiconductors NV0.06%
Extra Space Storage Reit0.06%
Ovintiv0.06%
Permian Resources Class A0.06%
Brown & Brown Inc0.05%
East West Bancorp0.05%
Lennar A Class A0.05%
Leidos Holdings0.05%
Apollo Global Management0.05%
Genuine Parts0.05%
Lyondellbasell Industries Class A0.05%
Ss and C Technologies Holdings0.05%
Kimco Realty Reit Corp0.05%
American Water Works0.05%
Tractor Supply0.05%
Willis Towers Watson0.05%
Performance Food Group0.04%
W. P. Carey Reit0.04%
Mid America Apartment Communities0.04%
Annaly Capital Management Reit0.04%
Corpay0.04%

Weight gaps

The 100 widest of 288 Holdings in both funds.

Holding weights in GSLC and ILCV, widest gap first
Holding	More in GSLCMore in ILCV	GSLC	ILCV
Microsoft CorporationMSFT	ILCV +2.91 points	5.54%	8.45%
Berkshire Hathaway Inc.BRK.B	ILCV +1.89 points	0.95%	2.84%
Exxonmobil Holdings CorporationXOM	ILCV +1.40 points	0.74%	2.14%
JPMorgan Chase & CoJPM	ILCV +1.39 points	1.21%	2.60%
Johnson & JohnsonJNJ	ILCV +1.01 points	0.88%	1.89%
AbbVie Inc.ABBV	ILCV +0.97 points	0.49%	1.46%
Chevron CorporationCVX	ILCV +0.91 points	0.32%	1.23%
The Procter & Gamble CompanyPG	ILCV +0.73 points	0.33%	1.06%
UnitedHealth Group IncorporatedUNH	ILCV +0.72 points	0.33%	1.05%
Cisco Systems, Inc.CSCO	ILCV +0.70 points	0.52%	1.22%
Coca-Cola Company (The)KO	ILCV +0.67 points	0.36%	1.03%
Philip Morris Intl IncPM	ILCV +0.66 points	0.26%	0.92%
Merck & Co., Inc.MRK	ILCV +0.63 points	0.40%	1.03%
Bank of America CorpBAC	ILCV +0.59 points	0.35%	0.94%
Thermo Fisher Scientific IncTMO	ILCV +0.59 points	0.15%	0.75%
Amgen Inc.AMGN	ILCV +0.58 points	0.13%	0.71%
The Home Depot, Inc.HD	ILCV +0.57 points	0.36%	0.93%
Rtx CorpRTX	ILCV +0.51 points	0.25%	0.76%
Wells Fargo & CompanyWFC	ILCV +0.51 points	0.22%	0.73%
Meta Platforms Inc-Class AMETA	ILCV +0.48 points	2.02%	2.50%
Intl Business Machines CorpIBM	ILCV +0.46 points	0.23%	0.69%
Abbott LaboratoriesABT	ILCV +0.45 points	0.06%	0.51%
Union Pacific Corp.UNP	ILCV +0.43 points	0.08%	0.51%
BlackRock Funding, Inc.BLK	ILCV +0.42 points	0.04%	0.46%
ConocophillipsCOP	ILCV +0.40 points	0.11%	0.51%
Pfizer Inc.PFE	ILCV +0.41 points	0.08%	0.49%
Apple Inc.AAPL	GSLC +0.39 points	7.63%	7.24%
Nextera Energy, Inc.NEE	ILCV +0.40 points	0.09%	0.49%
Mc Donalds CorpMCD	ILCV +0.36 points	0.16%	0.52%
Morgan StanleyMS	ILCV +0.35 points	0.29%	0.64%
Alphabet Inc.GOOGL	GSLC +0.34 points	2.38%	2.04%
Danaher CorporationDHR	ILCV +0.33 points	0.10%	0.43%
Mettler-Toledo IntlMTD	GSLC +0.32 points	0.37%	0.05%
Pepsico, Inc.PEP	ILCV +0.32 points	0.20%	0.52%
Gilead SciencesGILD	ILCV +0.31 points	0.27%	0.58%
Salesforce IncCRM	ILCV +0.31 points	0.21%	0.52%
Walt Disney Company (The)DIS	ILCV +0.30 points	0.24%	0.54%
Automatic Data Processing IncADP	ILCV +0.30 points	0.02%	0.32%
Prologis IncPLD	ILCV +0.30 points	0.05%	0.35%
Ulta Beauty IncULTA	GSLC +0.29 points	0.32%	0.03%
Verizon Communications Inc.VZ	ILCV +0.29 points	0.23%	0.52%
Oracle CorporationORCL	ILCV +0.28 points	0.07%	0.35%
Citigroup Inc.C	ILCV +0.27 points	0.33%	0.60%
The Bank of Ny Mellon CorpBNY	GSLC +0.27 points	0.38%	0.11%
Texas Instruments Inc.TXN	ILCV +0.27 points	0.18%	0.45%
State Street Corporation (New)STT	GSLC +0.25 points	0.33%	0.08%
The Progressive CorporationPGR	ILCV +0.25 points	0.13%	0.38%
Cme Group Inc.CME	ILCV +0.25 points	0.05%	0.30%
The Southern Co.SO	ILCV +0.23 points	0.07%	0.30%
3M CompanyMMM	ILCV +0.23 points	0.03%	0.26%
Williams-Sonoma, Inc.WSM	GSLC +0.23 points	0.28%	0.05%
Intercontinental Exchange IncICE	ILCV +0.23 points	0.03%	0.26%
American Tower CorpAMT	ILCV +0.23 points	0.02%	0.25%
Lockheed Martin CorporationLMT	ILCV +0.22 points	0.14%	0.36%
Incyte CorporationINCY	GSLC +0.22 points	0.25%	0.03%
Netapp, Inc.NTAP	GSLC +0.22 points	0.30%	0.08%
Teledyne Technologies IncorporatedTDY	GSLC +0.22 points	0.25%	0.03%
Deere & CompanyDE	ILCV +0.22 points	0.03%	0.25%
AT&T Inc.T	ILCV +0.22 points	0.19%	0.41%
Amazon.com IncAMZN	GSLC +0.21 points	3.29%	3.08%
Dollar Tree Stores, Inc.DLTR	GSLC +0.21 points	0.28%	0.07%
Tapestry, Inc.TPR	GSLC +0.21 points	0.23%	0.02%
Charles Schwab CorporationSCHW	ILCV +0.20 points	0.07%	0.27%
Uber Technologies, Inc.UBER	ILCV +0.20 points	0.07%	0.27%
Phillips 66PSX	ILCV +0.20 points	0.11%	0.31%
Kroger CompanyKR	GSLC +0.20 points	0.31%	0.11%
Colgate-Palmolive CoCL	GSLC +0.20 points	0.34%	0.14%
Mondelez International, Inc.MDLZ	ILCV +0.20 points	0.03%	0.23%
Capital One Financial CorpCOF	ILCV +0.19 points	0.17%	0.36%
Loews CorporationL	GSLC +0.20 points	0.23%	0.03%
Royalty Pharma PLCRPRX	GSLC +0.19 points	0.26%	0.07%
Qualcomm IncQCOM	ILCV +0.19 points	0.37%	0.56%
Biogen Inc.BIIB	GSLC +0.19 points	0.29%	0.10%
Altria Group, Inc.MO	ILCV +0.18 points	0.18%	0.36%
Duke Energy CorporationDUK	ILCV +0.18 points	0.10%	0.28%
Us Foods Holding Corp.USFD	GSLC +0.18 points	0.21%	0.03%
Mckesson CorporationMCK	ILCV +0.18 points	0.06%	0.24%
United Parcel Service, Inc.UPS	ILCV +0.18 points	0.05%	0.23%
Northern Trust CorpNTRS	GSLC +0.18 points	0.22%	0.04%
Vertex Pharmaceuticals IncorporatedVRTX	ILCV +0.17 points	0.10%	0.27%
T-Mobile Us, Inc.TMUS	ILCV +0.17 points	0.03%	0.20%
Eog Resources IncEOG	ILCV +0.17 points	0.07%	0.24%
General Motors CompanyGM	ILCV +0.17 points	0.04%	0.21%
Ameriprise Financial, Inc.AMP	GSLC +0.17 points	0.24%	0.07%
Costco Wholesale CorporationCOST	ILCV +0.17 points	0.54%	0.71%
Honeywell International IncHON	ILCV +0.17 points	0.03%	0.20%
Centene CorporationCNC	GSLC +0.16 points	0.21%	0.05%
American Express Co.AXP	ILCV +0.16 points	0.18%	0.35%
Fox CorporationFOX	GSLC +0.17 points	0.19%	0.02%
Visa Inc.V	ILCV +0.16 points	0.84%	1.00%
Hca Healthcare, IncHCA	ILCV +0.16 points	0.04%	0.20%
Bristol-Myers Squibb CompanyBMY	ILCV +0.16 points	0.20%	0.36%
Intuit IncINTU	ILCV +0.15 points	0.10%	0.25%
Micron Technology, Inc.MU	ILCV +0.15 points	1.20%	1.35%
Fortive CorporationFTV	GSLC +0.15 points	0.21%	0.06%
Alphabet Inc.GOOG	ILCV +0.16 points	1.49%	1.65%
Fox CorporationFOXA	GSLC +0.15 points	0.19%	0.04%
Cheniere Energy, Inc.LNG	ILCV +0.15 points	0.04%	0.19%
First Solar, Inc.FSLR	GSLC +0.15 points	0.17%	0.02%
Pnc Financial Services Group, Inc., ThePNC	ILCV +0.15 points	0.11%	0.26%

All 427 GSLC holdings⁠All 372 ILCV 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.

GSLC vs ILCV Cost

Overpaying GSLC vs ILCV

$1,049

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

GSLC 0.09%
$1,898
ILCV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

GSLC 0.09%
ILCV 0.04%
Overpaying

Year by year

Year	GSLC	ILCV	Overpaying
10	$165	$73	$92
20	$646	$288	$358
30	$1,898	$849	$1,049

Expense ratio

0.09%GSLC
0.04%ILCV, cheaper

ILCV0.04%GSLC0.09%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

GSLC 7th cheapest of 99 funds

GSLC vs ILCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSLC 1.03%; ILCV 1.51%, better
Payout (12M): GSLC $1.48; ILCV $1.65
Last payment: GSLC $0.46; ILCV $0.42
Ex-dividend: GSLC Sep 24, 2026; ILCV Sep 15, 2026
Paid on: GSLC Sep 30, 2026; ILCV Sep 18, 2026
Frequency: GSLC Quarterly; ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSLCQuarterly · 39 paymentsAll GSLC payments⁠

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

GSLC vs ILCV Risk

Fall from peak · 5 years

GSLC
ILCV

Risk facts

VolatilityStd dev, 3 years: GSLC 12.3%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years: GSLC 1.33ILCV 1.57, better
Worst fallMax drawdown, 5 years: GSLC −24.9%ILCV −18.6%, better
Market sensitivityBeta, 5 years: GSLC 0.96ILCV 0.82; Market = 1

GSLC and ILCV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026GSLC
ETF Filings
Tidal Trust III files to add a Wermers quantitative U.S. large-cap ETF
Sep 11, 2026GSLC

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GSLC vs ILCV

In short

Stated mandate

Why people hold it

Worth knowing

How GSLC and ILCV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GSLC

Only in ILCV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart

Tidal Trust III files to add a Wermers quantitative U.S. large-cap ETF

How GSLC and ILCV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GSLC

Only in ILCV

Weight gaps