GSLC vs VONV: Grades, Fees and Holdings Compared

Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF

GSLCANYSE Arca

Vanguard Russell 1000 Value ETF

VONVANasdaq

Overlap

49.0%by weight

Expense ratio

VONV −0.03pt a year

GSLC0.09%VONV0.06%

Avg volume · 30D

VONV 2.9×the volume

GSLC268KVONV774K

10Y return · a year

GSLC +2.6pt

GSLC+14.6%VONV+12.0%

GSLC vs VONV Performance

Oct 29, 2021 – Oct 30, 2026

+67.6%GSLC+73.8%VONV

Expense ratio: GSLC 0.09%; VONV 0.06%, better
Fund size: GSLC $15.2B; VONV $23.3B
1Y total return: GSLC +10.5%; VONV +28.5%, better
Yield (12M): GSLC 1.03%; VONV 1.53%, better
Holdings: GSLC 428; VONV 873
Avg volume (30D): GSLC 268K sh; VONV 774K sh, better
NAV per share: GSLC $146.90; VONV $113.44
52W range

ETF.net Grade

Pillar letters and Scores for GSLC, VONV, with each pillar’s weight
Pillar	GSLC	VONV
Cost30% weight	A93	A96Higher
Mission25% weight	A92	A100Higher
Risk15% weight	C52	A86Higher
Tradability15% weight	A75Higher	B60
Holdings10% weight	D38	C49Higher
Durability5% weight	A78	A93Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. GSLC and VONV 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 ›

VONV ranks 1st 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 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

VONVAVanguard Russell 1000 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.

VONV The plain-vanilla value trade, done cheap: about 900 large US value stocks, full replication of the Russell 1000 Value Index, 0.06% a year. No factor cocktail, no premium price tag, and one of the strongest implementations in its factor peer group.

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.

VONV The fund seeks to track the Russell 1000 Value Index, representing large-capitalization value stocks in the United States. It uses passive indexing and full replication to remain closely aligned with that benchmark.

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.

VONV 0.06% a year, a fraction of the typical fee among factor ETFs. On a rules-based value index there is little room for cleverness, so cost does most of the work.vanguard.com
Full replication, not sampling: it owns the index's roughly 900 names and has stayed tightly aligned with the Russell 1000 Value benchmark since launching in 2010.
Same Russell benchmark as pricier rivals for less: the Goldman MarketBeta version (GVUS) charges 0.12% to track the identical value index.
A multi-billion-dollar fund that trades actively, among the easiest in its group to get in and out of, and it distributes quarterly.

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.

VONV One screen, one style. Value only, with no quality or momentum overlay, so the ride follows the value side of the market wherever it goes.vanguard.com
This is the entire value bucket, not a best-ideas portfolio. About 900 holdings means results hug the large-cap value category rather than stray from it.
Cheaper exists nearby: Vanguard's VYM charges 0.04%, but it screens for dividend yield, a different portfolio than a Russell value index.

Full GSLC profile⁠

Full VONV profile⁠

GSLC vs VONV Holdings

How GSLC and VONV differ

Overlap by weight

49.0%

Shared holdings make up 82.0% of VONV and 65.9% of GSLC.

Level by level

Holdings322 in both49.0%
Sector11 Sectors75.0%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in GSLC and VONV, widest gap first
Sector	More in GSLCMore in VONV	GSLC	VONV
Technology	GSLC +18.4 points	40.3%	21.9%
Financials	VONV +7.4 points	10.5%	17.9%
Communication	GSLC +6.6 points	10.0%	3.4%
Health Care	VONV +3.5 points	9.9%	13.4%
Energy	VONV +3.0 points	3.2%	6.2%
Real Estate	VONV +2.4 points	1.1%	3.5%
Industrials	VONV +2.2 points	7.3%	9.5%
Consumer Staples	VONV +2.0 points	5.2%	7.2%
Materials	VONV +1.8 points	1.5%	3.3%
Utilities	VONV +1.7 points	1.7%	3.4%
Consumer Discretionary	VONV +1.2 points	9.2%	10.4%

Country, concentration and asset class

Country by domicile

Country weights in GSLC and VONV, widest gap first
Country	More in GSLCMore in VONV	GSLC	VONV
United States	VONV +0.4 points	99.6%	100.0%
Switzerland	GSLC +0.2 points	0.2%	0.0%
China	GSLC +0.2 points	0.2%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

GSLC34.9%
VONV29.8%

Securities held

GSLC426
VONV871

Asset class

GSLC: Equity
VONV: Equity

Holdings

Only in GSLC104
In both322
Only in VONV549

Only in GSLC

104 securities, 33.4% of GSLC by weight

NVIDIA Corporation7.73%
Alphabet Inc.2.38%
Broadcom Inc.2.15%
Alphabet Inc.1.49%
Eli Lilly & Co1.44%
Micron Technology, Inc.1.20%
Tesla Inc.1.13%
Visa Inc.0.84%
Advanced Micro Devices Inc.0.82%
Mastercard Incorporated0.73%
Atlassian Corp0.58%
Lam Research Corporation0.57%
Natera, Inc.0.50%
Applied Materials Inc0.50%
Palantir Technologies Inc.0.39%
Kla Corp0.36%
Western Digital Corporation0.36%
Seagate Technology Holdin PLC0.33%
Cintas Corporation0.29%
Fortinet, Inc.0.27%
Caterpillar Inc (Delaware)0.27%
Booking Holdings Inc.0.27%
General Electric Company0.25%
Accenture PLC0.24%
Netflix, Inc.0.23%
Tapestry, Inc.0.23%
Amphenol Corp Cl-A (New)0.22%
Sandisk Corporation0.22%
Linde PLC0.22%
Autodesk, Inc.0.20%
Ge Vernova Llc0.20%
Chubb Limited0.20%
Applovin Corporation0.20%
Vivmark Residential0.19%
Rollins Inc.0.19%
Te Connectivity Corporation0.18%
Texas Instruments Inc.0.18%
Elevance Health Inc0.17%
Carnival Corporation0.17%
Crowdstrike Holdings, Inc.0.16%
Reddit, Inc.0.16%
Expedia Group Inc0.16%
Jabil Inc0.16%
Corning Incorporated0.16%
Teradyne Inc0.15%
Palo Alto Networks Inc.0.14%
Fiserv, Inc.0.14%
Lumentum Holdings Inc.0.14%
Marvell Technology, Inc.0.14%
Lockheed Martin Corporation0.14%

Only in VONV

549 securities, 17.9% of VONV by weight

Goldman Sachs Group Inc/The0.67%
Linde PLC0.60%
Eaton Corp PLC0.39%
S&P Global Inc0.32%
Chubb Ltd0.31%
Accenture PLC0.31%
Medtronic PLC0.30%
Johnson Controls International plc0.23%
Elevance Health Inc0.23%
Warner Bros Discovery Inc0.20%
SLB Ltd0.20%
Digital Realty Trust Inc0.18%
Air Products and Chemicals Inc0.17%
Arthur J Gallagher & Co0.16%
Crh PLC0.15%
Strategy Inc0.15%
Boeing Co/The0.14%
Becton Dickinson & Co0.14%
KKR & Co Inc0.13%
Apollo Global Management Inc0.13%
Starbucks Corp0.13%
United Rentals Inc0.13%
Vivmark Residential0.13%
Veeva Systems Inc0.12%
Public Storage0.12%
Coinbase Global Inc0.11%
Flex Ltd0.11%
Keurig Dr Pepper Inc0.11%
Block Inc0.11%
MSCI Inc0.10%
Okta Inc0.10%
Kenvue Inc0.09%
Iron Mountain Inc0.09%
Paychex Inc0.09%
Carnival Corp Ltd0.09%
TransDigm Group Inc0.08%
Royal Caribbean Cruises Ltd0.08%
Crown Castle Inc0.08%
Extra Space Storage Inc0.08%
Willis Towers Watson PLC0.07%
SLBBH11420.07%
Old Dominion Freight Line Inc0.07%
American Water Works Co Inc0.07%
Fiserv Inc0.07%
Copart Inc0.06%
Smurfit Westrock PLC0.06%
International Flavors & Fragrances Inc0.06%
Hershey Co/The0.06%
Liberty Media Corp0.06%
Royal Gold Inc0.06%

Weight gaps

The 100 widest of 322 Holdings in both funds.

Holding weights in GSLC and VONV, widest gap first
Holding	More in GSLCMore in VONV	GSLC	VONV
Amazon.com IncAMZN	VONV +2.80 points	3.29%	6.09%
Berkshire Hathaway Inc.BRK.B	VONV +1.60 points	0.95%	2.55%
Apple Inc.AAPL	GSLC +1.56 points	7.63%	6.07%
JPMorgan Chase & CoJPM	VONV +1.22 points	1.21%	2.43%
Meta Platforms Inc-Class AMETA	GSLC +1.22 points	2.02%	0.80%
Intel CorporationINTC	VONV +1.16 points	0.35%	1.51%
Exxonmobil Holdings CorporationXOM	VONV +1.10 points	0.74%	1.84%
Johnson & JohnsonJNJ	VONV +0.87 points	0.88%	1.75%
Chevron CorporationCVX	VONV +0.72 points	0.32%	1.04%
AbbVie Inc.ABBV	VONV +0.68 points	0.49%	1.17%
Cisco Systems, Inc.CSCO	VONV +0.65 points	0.52%	1.17%
The Procter & Gamble CompanyPG	VONV +0.60 points	0.33%	0.93%
Merck & Co., Inc.MRK	VONV +0.59 points	0.40%	0.99%
UnitedHealth Group IncorporatedUNH	VONV +0.58 points	0.33%	0.91%
Philip Morris Intl IncPM	VONV +0.56 points	0.26%	0.82%
Bank of America CorpBAC	VONV +0.56 points	0.35%	0.91%
Thermo Fisher Scientific IncTMO	VONV +0.53 points	0.15%	0.69%
Coca-Cola Company (The)KO	VONV +0.45 points	0.36%	0.81%
Wells Fargo & CompanyWFC	VONV +0.45 points	0.22%	0.67%
Rtx CorpRTX	VONV +0.44 points	0.25%	0.69%
Deere & CompanyDE	VONV +0.43 points	0.03%	0.46%
Abbott LaboratoriesABT	VONV +0.41 points	0.06%	0.47%
BlackRock Funding, Inc.BLK	VONV +0.40 points	0.04%	0.44%
W.w. Grainger IncGWW	GSLC +0.39 points	0.41%	0.02%
Everpure IncP	GSLC +0.37 points	0.39%	0.02%
Verisign, Inc.VRSN	GSLC +0.37 points	0.43%	0.06%
Pfizer Inc.PFE	VONV +0.37 points	0.08%	0.45%
Nextera Energy, Inc.NEE	VONV +0.35 points	0.09%	0.43%
Intl Business Machines CorpIBM	VONV +0.34 points	0.23%	0.57%
Charles Schwab CorporationSCHW	VONV +0.34 points	0.07%	0.41%
Union Pacific Corp.UNP	VONV +0.33 points	0.08%	0.41%
Welltower, Inc.WELL	VONV +0.33 points	0.13%	0.46%
Walmart IncWMT	VONV +0.32 points	0.83%	1.15%
ConocophillipsCOP	VONV +0.31 points	0.11%	0.42%
Fastenal CompanyFAST	GSLC +0.31 points	0.34%	0.03%
Analog Devices Inc.ADI	VONV +0.30 points	0.19%	0.49%
Verizon Communications Inc.VZ	VONV +0.30 points	0.23%	0.53%
Microsoft CorporationMSFT	GSLC +0.30 points	5.54%	5.24%
Mc Donalds CorpMCD	VONV +0.29 points	0.16%	0.45%
Mettler-Toledo IntlMTD	GSLC +0.29 points	0.37%	0.08%
Danaher CorporationDHR	VONV +0.29 points	0.10%	0.39%
Salesforce IncCRM	VONV +0.29 points	0.21%	0.50%
Prologis IncPLD	VONV +0.29 points	0.05%	0.34%
Morgan StanleyMS	VONV +0.29 points	0.29%	0.58%
Idexx LaboratoriesIDXX	GSLC +0.28 points	0.30%	0.02%
Ulta Beauty IncULTA	GSLC +0.27 points	0.32%	0.05%
Vertex Pharmaceuticals IncorporatedVRTX	VONV +0.27 points	0.10%	0.37%
Walt Disney Company (The)DIS	VONV +0.26 points	0.24%	0.50%
Uber Technologies, Inc.UBER	VONV +0.26 points	0.07%	0.33%
AT&T Inc.T	VONV +0.26 points	0.19%	0.45%
Equinix, Inc.EQIX	VONV +0.24 points	0.03%	0.27%
Gilead SciencesGILD	VONV +0.24 points	0.27%	0.51%
Dell Technologies Inc.DELL	VONV +0.23 points	0.16%	0.39%
Colgate-Palmolive CoCL	GSLC +0.23 points	0.34%	0.11%
Freeport-Mcmoran IncFCX	VONV +0.23 points	0.05%	0.28%
Adobe IncADBE	GSLC +0.22 points	0.30%	0.08%
Netapp, Inc.NTAP	GSLC +0.23 points	0.30%	0.07%
Pepsico, Inc.PEP	VONV +0.22 points	0.20%	0.42%
Parker-Hannifin Corp.PH	VONV +0.22 points	0.11%	0.33%
Williams-Sonoma, Inc.WSM	GSLC +0.22 points	0.28%	0.06%
Dollar Tree Stores, Inc.DLTR	GSLC +0.22 points	0.28%	0.06%
Kroger CompanyKR	GSLC +0.22 points	0.31%	0.09%
Ralph Lauren CorpRL	GSLC +0.21 points	0.22%	0.01%
Cme Group Inc.CME	VONV +0.21 points	0.05%	0.26%
State Street Corporation (New)STT	GSLC +0.20 points	0.33%	0.13%
The Progressive CorporationPGR	VONV +0.20 points	0.13%	0.33%
Intercontinental Exchange IncICE	VONV +0.21 points	0.03%	0.23%
Biogen Inc.BIIB	GSLC +0.20 points	0.29%	0.09%
Incyte CorporationINCY	GSLC +0.19 points	0.25%	0.06%
Royalty Pharma PLCRPRX	GSLC +0.19 points	0.26%	0.07%
The Southern Co.SO	VONV +0.19 points	0.07%	0.26%
T-Mobile Us, Inc.TMUS	VONV +0.19 points	0.03%	0.22%
Emerson Electric Co.EMR	VONV +0.19 points	0.05%	0.24%
Synopsys Inc.SNPS	VONV +0.18 points	0.04%	0.22%
Estee Lauder Cos Inc Cl-AEL	GSLC +0.19 points	0.24%	0.05%
Marsh OrdMRSH	VONV +0.19 points	0.04%	0.23%
Loews CorporationL	GSLC +0.18 points	0.23%	0.05%
Mondelez International, Inc.MDLZ	VONV +0.17 points	0.03%	0.20%
3M CompanyMMM	VONV +0.17 points	0.03%	0.20%
Teledyne Technologies IncorporatedTDY	GSLC +0.17 points	0.25%	0.08%
Citigroup Inc.C	VONV +0.17 points	0.33%	0.50%
Fortive CorporationFTV	GSLC +0.16 points	0.21%	0.05%
Stryker CorporationSYK	VONV +0.16 points	0.10%	0.26%
Constellation Energy CorpCEG	VONV +0.17 points	0.04%	0.21%
Fox CorporationFOX	GSLC +0.17 points	0.19%	0.02%
Sysco CorporationSYY	GSLC +0.17 points	0.22%	0.05%
Tjx Companies Inc (New)TJX	GSLC +0.16 points	0.38%	0.22%
Qualcomm IncQCOM	VONV +0.16 points	0.37%	0.53%
The Home Depot, Inc.HD	GSLC +0.16 points	0.36%	0.20%
Automatic Data Processing IncADP	VONV +0.16 points	0.02%	0.18%
Fair Isaac CorporationFICO	GSLC +0.15 points	0.16%	<0.01%
Cognizant TechnologyCTSH	GSLC +0.16 points	0.23%	0.07%
Fox CorporationFOXA	GSLC +0.16 points	0.19%	0.03%
Phillips 66PSX	VONV +0.15 points	0.11%	0.26%
Moody's CorporationMCO	GSLC +0.15 points	0.25%	0.10%
Us Foods Holding Corp.USFD	GSLC +0.15 points	0.21%	0.06%
Bristol-Myers Squibb CompanyBMY	VONV +0.15 points	0.20%	0.35%
Capital One Financial CorpCOF	VONV +0.15 points	0.17%	0.32%
Honeywell International IncHON	VONV +0.15 points	0.03%	0.18%
Synchrony FinancialSYF	GSLC +0.15 points	0.21%	0.06%

All 427 GSLC holdings⁠All 872 VONV 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 VONV Cost

Overpaying GSLC vs VONV

$628

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

GSLC 0.09%
$1,898
VONV 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

GSLC 0.09%
VONV 0.06%
Overpaying

Year by year

Year	GSLC	VONV	Overpaying
10	$165	$110	$55
20	$646	$432	$214
30	$1,898	$1,270	$628

Expense ratio

0.09%GSLC
0.06%VONV, cheaper

VONV0.06%GSLC0.09%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

VONV 4th cheapest of 99 funds

GSLC 7th cheapest of 99 funds

GSLC vs VONV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GSLC 1.03%; VONV 1.53%, better
Payout (12M): GSLC $1.48; VONV $1.74
Last payment: GSLC $0.46; VONV $0.42
Ex-dividend: GSLC Sep 24, 2026; VONV Sep 23, 2026
Paid on: GSLC Sep 30, 2026; VONV Sep 25, 2026
Frequency: GSLC Quarterly; VONV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

GSLCQuarterly · 39 paymentsAll GSLC payments⁠

VONVQuarterly · 39 paymentsAll VONV payments⁠

GSLC vs VONV Risk

Fall from peak · 5 years

GSLC
VONV

Risk facts

VolatilityStd dev, 3 years: GSLC 12.3%VONV 12.1%, better
Return per unit of riskSharpe ratio, 3 years: GSLC 1.33VONV 1.43, better
Worst fallMax drawdown, 5 years: GSLC −24.9%VONV −18.9%, better
Market sensitivityBeta, 5 years: GSLC 0.96VONV 0.85; Market = 1

GSLC and VONV in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026GSLCVONV
Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026VONV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026VONV
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 VONV

In short

Stated mandate

Why people hold it