GUSA vs JSMD

GUSABGoldman Sachs MarketBeta US 1000 Equity ETF

JSMDDJanus Henderson Small/Mid Cap Growth Alpha ETF

In short

GUSA Goldman's core beta, priced like plumbing: about 1,000 US stocks for 0.10% a year. It reaches past the famous 500 into mid caps and hugs its Solactive benchmark tightly. The trade-off is thin trading.

JSMD Since 2016, JSMD has run one quantitative screen on small- and mid-cap growth: roughly 300 names, measured against the Russell 2500 Growth Index, in the tier of companies sitting well below the mega-cap giants.

Stated mandate

GUSA The Fund seeks to track, before fees and expenses, the performance of the Solactive GBS United States 1000 Index. It generally invests at least 80% of assets in securities included in that index or related depositary receipts.

JSMD JSMD seeks long-term capital growth. It actively and systematically selects small- and mid-cap growth companies using quantitative methods and fundamental research, with portfolio optimization intended to manage risk.

Why people hold it

• GUSA 0.10% a year, half the typical fee in its peer group. Cheap beta is Goldman's whole pitch with the MarketBeta line, and the price tag backs it up.gsam.com
• About 1,000 names, roughly twice the reach of a 500-stock benchmark, so mid caps ride along in one ticket instead of being a second purchase.
• Boring by design and good at it: the fund tracks the Solactive GBS United States 1000 Index closely, with at least 80% of assets in index securities per the prospectus.gsam.com
• A billion-dollar-plus fund from a major issuer, paying distributions quarterly. One of the stronger builds among broad US equity peers.

• JSMD A quant model does the picking, backed by fundamental research and portfolio optimization for risk. Active stock selection, run by rules rather than a manager's gut.
• Roughly 300 holdings across small- and mid-cap growth, so no single name carries the fund in a corner of the market where individual stocks swing hard.
• Live since 2016, a multibillion-dollar asset base and steady volume mean the plumbing is well established for a strategy this specialized.
• Lands in the upper half of its peer group on our full review, holding its own alongside plain broad-market trackers like ILCB and GUSA.

Worth knowing

• GUSA Thinly traded for its size. Spreads can widen, so your fill price, not the index, does the damage on sloppy market orders.
• Not the cheapest seat in the room: peer ILCB charges 0.03%. GUSA's edge is breadth, not the lowest fee.
• Launched in 2022, with a Solactive benchmark rather than a household index name, so the track record and the apples-to-apples comparisons take extra work.

• JSMD At 0.30% a year it prices above the 0.20% peer median, and far above bare-bones beta such as ILCB at 0.03%. The screen is what you're paying for.
• Small- and mid-cap growth is one of the choppier lanes in US equities, and a growth-only screen can sit out of favor for long stretches.
• Distributions land quarterly, but the mandate is long-term capital growth; income is a byproduct, not the point.

Full GUSA profile⁠

Full JSMD profile⁠