GUSE vs JUSA: Grades, Fees and Holdings Compared

Goldman Sachs Enhanced U.S. Equity ETF

GUSEANasdaq

JPMorgan U.S. Research Enhanced Large Cap ETF

JUSAANYSE Arca

Overlap

55.9%by weight

Expense ratio

JUSA −0.12pt a year

GUSE0.30%JUSA0.18%

Avg volume · 30D

JUSA 4.0×the volume

GUSE24.9KJUSA98.8K

GUSE vs JUSA Performance

Dec 31, 2025 – Oct 30, 2026

+11.8%GUSE+10.4%JUSA

Expense ratio: GUSE 0.30%; JUSA 0.18%, better
Fund size: GUSE $421M; JUSA $745M
1Y total return: GUSE No data; JUSA +10.8%
Yield (12M): GUSE No data; JUSA 0.72%
Holdings: GUSE 122; JUSA 263
Avg volume (30D): GUSE 24.9K sh; JUSA 98.8K sh, better
NAV per share: GUSE $46.05; JUSA $67.75
52W range

ETF.net Grade

Pillar letters and Scores for GUSE, JUSA, with each pillar’s weight
Pillar	GUSE	JUSA
Cost30% weight	A97	A99Higher
Mission25% weight	Not scored	A84
Risk15% weight	A94Higher	A92
Tradability15% weight	C46	B58Higher
Holdings10% weight	A89Higher	A84
Durability5% weight	A85Higher	A76

Rank among US Active Growth funds

How we build Categories ›

Same Category. GUSE and JUSA are both graded against the same 90 US Active Growth funds, so their Grades compare head to head.

US Active Growth⁠

Category · 90 funds

See all 90 ›

JUSA ranks 1st and GUSE 2nd of 90 funds in the US Active Growth Category.

Rank 1AJUSAJPMorgan U.S. Research Enhanced Large Cap ETFScore 86
Rank 2AGUSEGoldman Sachs Enhanced U.S. Equity ETFScore 84
Rank 3ALRGCAB US Large Cap Strategic Equities ETFScore 81

Our read on each fund

ETF.net Research

GUSEAGoldman Sachs Enhanced U.S. Equity ETF

JUSAAJPMorgan U.S. Research Enhanced Large Cap ETF

In short

GUSE Goldman's fundamental stock pickers hunting long-term growth in US companies, for 0.30% a year. The strategy dates to 2008 and charges well under the typical active US growth fund.

JUSA Active stock picking in index clothing: J.P. Morgan analysts tilt roughly 300 large caps while sector weights and risk stay close to the S&P 500, for 0.18% a year with no waiver attached.

Stated mandate

GUSE The Fund seeks long-term growth of capital by investing in companies that the Investment Adviser believes are positioned for long-term growth.

JUSA The fund seeks capital appreciation through active, fundamental, bottom-up selection of large-cap U.S. equities. It targets companies with strong long-term earnings potential and attractive valuations relative to peers.

Why people hold it

GUSE Charges 0.30% a year, against a 0.54% median for its active US growth cohort. Cheap, for stock picking.
Actively run with no index to shadow. Managers hold companies they judge positioned for long-term growth, so the portfolio can look different from a large-cap benchmark.
Inception dates to 2008, so the strategy has run through multiple market cycles, not one long rally.
One of the stronger implementations in a crowded field of active US growth funds.

JUSA 0.18% a year with no waiver propping it up, below its category median. GUSE charges 0.30% and LRGC 0.39% for similar enhanced-index work; FELG ties it at 0.18%.
Active where it counts, plain where it doesn't: bottom-up stock picks across roughly 300 large caps, with sector mix and risk profile kept close to the S&P 500.jpmorgan.com
Stands among the strongest implementations in a 90-fund peer group of active large-cap funds, helped by a low fee and tightly managed risk.

Worth knowing

GUSE Trades thinly next to the category's heavyweights. Spreads can be wider, which bites most on large or hurried orders.
Two peers in the same top tier undercut it on fee: JUSA at 0.12% and FELG at 0.18%. Price is not where this one stands out.
Distributions land once or twice a year, not monthly. Growth of capital is the stated goal, not an income stream.

JUSA Launched in March 2025, so there is only a short live record on this ticker to judge.
Moderately traded rather than a volume monster, so spreads can run wider than the giant index funds', especially in fast markets.
Tracking the S&P 500's sector weights limits how far results can stray from the benchmark in either direction. This is a nudge on the index, not a different bet.jpmorgan.com

Full GUSE profile⁠

Full JUSA profile⁠

GUSE vs JUSA Holdings

How GUSE and JUSA differ

Overlap by weight

55.9%

Shared holdings make up 75.9% of GUSE and 62.3% of JUSA.

Level by level

Holdings74 in both55.9%
Countryby domicile98.9%
Asset classEquity100%

Sector

No Sector split for GUSE.

Country, concentration and asset class

Country by domicile

Country weights in GUSE and JUSA, widest gap first
Country	More in GUSEMore in JUSA	GUSE	JUSA
United States	JUSA +1.0 points	98.9%	99.9%
Taiwan	GUSE +0.6 points	0.6%	0.0%
Other countries (3)	GUSE +0.4 points	0.5%	0.1%

Concentration

Weight in the 10 largest Holdings

GUSE34.6%
JUSA37.8%

Securities held

GUSE121
JUSA261

Asset class

GUSE: Equity
JUSA: Equity

Holdings

Only in GUSE47
In both74
Only in JUSA187

Only in GUSE

47 securities, 22.3% of GUSE by weight

JPMorgan Chase & Co1.66%
Linde PLC1.17%
Tjx Companies Inc (New)1.02%
Agilent Technologies, Inc.1.02%
Netapp, Inc.0.85%
Phillips 660.78%
Cintas Corporation0.75%
Ameren Corporation0.73%
Starbucks Corp.0.65%
Csx Corporation0.62%
Taiwan Semiconductor Mfg Ads-Adr0.59%
Allstate Corporation0.56%
American Intl Group, Inc.0.55%
Old Dominion Freight Line, Inc.0.53%
Repligen Corp0.51%
Coca-Cola European Partners PLC0.48%
Wintrust Financial Corporation0.47%
Global Payments Inc.0.46%
American Homes 4 Rent Llc0.45%
Quest Diagnostics Incorporated0.44%
Eaton Corp PLC0.44%
Constellation Energy Corp0.42%
Msci Inc.0.41%
Itt Inc.0.39%
Trane Technologies Public Limited Company0.38%
Rockwell Automation Inc0.38%
Brown & Brown, Inc.0.37%
Ulta Beauty Inc0.37%
Tko Group Holdings Inc0.34%
Ares Management Corporation0.33%
Live Nation Entertainment Inc0.33%
Performance Food Group Company (De)0.32%
Royal Caribbean Group0.30%
International Paper Co.0.29%
Costar Group, Inc.0.29%
Nasdaq Inc.0.28%
Argenx Se-Adr0.27%
Rpm International Inc0.26%
Cloudflare, Inc.0.25%
Chewy Inc0.21%
Honeywell Aerospace Inc.0.21%
Samsara Inc.0.21%
Teradyne Inc0.20%
Space Exploration Technologies Corp.0.20%
Solstice Advanced Materials Inc.0.19%
Advanced Drain Sys Inc0.16%
Woodward Inc0.14%

Only in JUSA

187 securities, 37.5% of JUSA by weight

AbbVie Inc Common Stock1.15%
JPMorgan Prime Money0.95%
Lam Research Corp Common0.84%
Wells Fargo & Co Common0.77%
Philip Morris0.75%
Lowe's Cos Inc Common0.65%
Nextera Energy Inc0.64%
Pepsico Inc Common Stock0.64%
Eog Resources Inc Common0.60%
Us Bancorp Common Stock0.59%
Trane Technologies PLC0.57%
The Southern Company0.55%
Texas Instruments Inc0.50%
Bristol-Myers Squibb Co0.50%
Accenture PLC Common0.48%
AT&T Inc Common Stock USD0.48%
Mcdonald's Corp Common0.47%
Mondelez International0.47%
Howmet Aerospace Inc0.46%
Aon PLC Common Stock USD0.45%
Seagate Technology0.45%
Thermo Fisher Scientific0.45%
Regeneron Pharmaceuticals0.44%
Booking Holdings Inc0.42%
Equinix Inc Reit USD0.42%
The Walt Disney Company0.42%
Fifth Third Bancorp0.41%
Ecolab Inc Common Stock0.41%
Keurig Dr Pepper Inc0.41%
Arthur J Gallagher & Co0.40%
Stryker Corp Common Stock0.39%
Eaton Corp PLC Common0.39%
Netflix Inc Common Stock0.39%
Capital One Financial0.39%
Nxp Semiconductors NV0.38%
Crowdstrike Holdings Inc0.36%
Chipotle Mexican Grill0.36%
Sempra Common Stock USD0.35%
Cummins Inc Common Stock0.35%
Medtronic PLC Common0.34%
Progressive Corp/The0.34%
Ventas Inc Reit USD 0.250.33%
Autozone Inc Common Stock0.33%
Entergy Corp Common Stock0.33%
Ross Stores Inc Common0.32%
General Dynamics Corp0.31%
American Express Co0.31%
Fedex Corp Common Stock0.29%
Corpay Inc0.28%
American Tower Corp Reit0.28%

Weight gaps

All 74 Holdings in both funds, largest gap first.

Holding weights in GUSE and JUSA, widest gap first
Holding	More in GUSEMore in JUSA	GUSE	JUSA
Apple Inc.AAPL	JUSA +2.18 points	5.13%	7.31%
Coca-Cola Company (The)KO	GUSE +1.62 points	1.81%	0.19%
Microsoft CorporationMSFT	JUSA +1.39 points	4.97%	6.36%
ConocophillipsCOP	GUSE +0.72 points	1.41%	0.69%
The Procter & Gamble CompanyPG	GUSE +0.67 points	0.76%	0.09%
Merck & Co., Inc.MRK	GUSE +0.63 points	0.81%	0.18%
General Electric CompanyGE	GUSE +0.60 points	0.73%	0.13%
Intercontinental Exchange IncICE	GUSE +0.60 points	0.75%	0.15%
Cencora IncCOR	GUSE +0.56 points	0.62%	0.06%
T-Mobile Us, Inc.TMUS	GUSE +0.56 points	0.60%	0.04%
Walmart IncWMT	GUSE +0.55 points	1.07%	0.52%
Caterpillar Inc (Delaware)CAT	GUSE +0.53 points	0.69%	0.16%
Atmos Energy CorporationATO	GUSE +0.50 points	0.60%	0.10%
The Home Depot, Inc.HD	GUSE +0.50 points	0.57%	0.07%
Motorola Solutions IncMSI	GUSE +0.49 points	0.53%	0.04%
Kla CorpKLAC	GUSE +0.48 points	0.59%	0.11%
Eli Lilly & CoLLY	GUSE +0.46 points	2.00%	1.54%
Cheniere Energy, Inc.LNG	GUSE +0.45 points	0.47%	0.02%
Vertex Pharmaceuticals IncorporatedVRTX	GUSE +0.43 points	0.79%	0.36%
Palo Alto Networks Inc.PANW	GUSE +0.41 points	0.72%	0.31%
Rtx CorpRTX	JUSA +0.40 points	0.53%	0.93%
Cadence Design Systems IncCDNS	GUSE +0.39 points	0.57%	0.18%
Xcel Energy Inc.XEL	GUSE +0.39 points	0.47%	0.08%
Johnson & JohnsonJNJ	JUSA +0.39 points	0.93%	1.32%
Intl Business Machines CorpIBM	GUSE +0.39 points	0.58%	0.19%
3M CompanyMMM	JUSA +0.35 points	0.27%	0.62%
Advanced Micro Devices Inc.AMD	GUSE +0.35 points	1.57%	1.22%
Tesla Inc.TSLA	GUSE +0.35 points	1.77%	1.42%
NVIDIA CorporationNVDA	JUSA +0.33 points	7.53%	7.86%
Jabil IncJBL	GUSE +0.32 points	0.38%	0.06%
Intuit IncINTU	GUSE +0.33 points	0.47%	0.14%
Intel CorporationINTC	GUSE +0.32 points	0.78%	0.46%
S&P Global Inc.SPGI	GUSE +0.32 points	0.53%	0.21%
Steel Dynamics, Inc.STLD	GUSE +0.31 points	0.40%	0.09%
Palantir Technologies Inc.PLTR	GUSE +0.31 points	0.88%	0.57%
Prologis IncPLD	GUSE +0.30 points	0.47%	0.17%
Blackstone Group Inc/TheBX	GUSE +0.29 points	0.43%	0.14%
Hilton Worldwide Holdings Inc.HLT	GUSE +0.29 points	0.50%	0.21%
Applied Materials IncAMAT	GUSE +0.27 points	0.73%	0.46%
Berkshire Hathaway Inc.BRK.B	GUSE +0.26 points	1.61%	1.35%
Cbre Group, Inc.CBRE	GUSE +0.26 points	0.32%	0.06%
Dexcom, Inc.DXCM	GUSE +0.25 points	0.31%	0.06%
Exxonmobil Holdings CorporationXOM	JUSA +0.25 points	1.20%	1.45%
Citigroup Inc.C	JUSA +0.25 points	0.45%	0.70%
Tapestry, Inc.TPR	GUSE +0.24 points	0.28%	0.04%
Ge Vernova LlcGEV	GUSE +0.24 points	0.52%	0.28%
United Airlines Holdings IncUAL	GUSE +0.24 points	0.33%	0.09%
Charles Schwab CorporationSCHW	JUSA +0.23 points	0.33%	0.56%
Alphabet Inc.GOOGL	GUSE +0.23 points	2.76%	2.53%
UnitedHealth Group IncorporatedUNH	GUSE +0.22 points	0.89%	0.67%
Dell Technologies Inc.DELL	GUSE +0.21 points	0.41%	0.20%
Arista Networks, Inc.ANET	GUSE +0.21 points	0.48%	0.27%
Micron Technology, Inc.MU	GUSE +0.20 points	1.77%	1.57%
Marvell Technology, Inc.MRVL	GUSE +0.18 points	0.38%	0.20%
Mastercard IncorporatedMA	GUSE +0.16 points	1.43%	1.27%
Datadog, Inc.DDOG	GUSE +0.16 points	0.29%	0.13%
Edwards Lifesciences CorporationEW	GUSE +0.16 points	0.46%	0.30%
Alphabet Inc.GOOG	JUSA +0.16 points	1.77%	1.93%
Broadcom Inc.AVGO	JUSA +0.15 points	2.39%	2.54%
Hewlett Packard Enterprise CoHPE	GUSE +0.15 points	0.39%	0.24%
Western Digital CorporationWDC	GUSE +0.14 points	0.54%	0.40%
Bank of America CorpBAC	GUSE +0.14 points	0.80%	0.66%
Snowflake Inc.SNOW	GUSE +0.14 points	0.28%	0.14%
Vertiv Holdings LlcVRT	JUSA +0.14 points	0.20%	0.34%
Ingersoll Rand IncIR	GUSE +0.12 points	0.26%	0.14%
Amazon.com IncAMZN	GUSE +0.12 points	4.07%	3.95%
Lumentum Holdings Inc.LITE	GUSE +0.09 points	0.20%	0.11%
Newmont CorpNEM	GUSE +0.08 points	0.26%	0.18%
Morgan StanleyMS	GUSE +0.07 points	0.50%	0.43%
Baker Hughes CoBKR	GUSE +0.07 points	0.28%	0.21%
Amphenol Corp Cl-A (New)APH	JUSA +0.05 points	0.50%	0.55%
Costco Wholesale CorporationCOST	JUSA +0.04 points	0.57%	0.61%
Visa Inc.V	JUSA +0.04 points	1.14%	1.18%
Meta Platforms Inc-Class AMETA	JUSA +0.02 points	2.14%	2.16%

All 121 GUSE holdings⁠All 261 JUSA 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.

GUSE vs JUSA Cost

Overpaying GUSE vs JUSA

$2,400

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

GUSE 0.30%
$6,149
JUSA 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

GUSE 0.30%
JUSA 0.18%
Overpaying

Year by year

Year	GUSE	JUSA	Overpaying
10	$545	$328	$217
20	$2,113	$1,281	$832
30	$6,149	$3,749	$2,400

Expense ratio

0.30%GUSE
0.18%JUSA, cheaper

JUSA0.18%GUSE0.30%

0.18%2.83%

Middle half of US Active Growth funds
Median 0.55%

JUSA cheapest of 90 funds

GUSE 3rd cheapest of 90 funds

GUSE vs JUSA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): GUSE No data; JUSA 0.72%
Payout (12M): GUSE No data; JUSA $0.49
Last payment: GUSE $0.30; JUSA $0.13
Ex-dividend: GUSE Dec 23, 2025; JUSA Sep 22, 2026
Paid on: GUSE Dec 30, 2025; JUSA Sep 24, 2026
Frequency: GUSE Irregular; JUSA Quarterly

Distribution history

Per share, 2025 to 2026, same scale for both

GUSEIrregular · 1 paymentAll GUSE payments⁠

JUSAQuarterly · 6 paymentsAll JUSA payments⁠

GUSE vs JUSA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GUSE No dataJUSA 11.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: GUSE No dataJUSA 1.41since Apr 2025
Worst fallMax drawdown, 5 years: GUSE No dataJUSA −14.0%since Mar 2025
Market sensitivityBeta, 5 years: GUSE 0.93JUSA 0.98; Market = 1

GUSE and JUSA in the news

All news⁠

New ETFs
YieldMax lists an SK hynix options ETF that does not own the shares
Oct 28, 2026JUSA
ETF Filings
JPMorgan All Country Research Enhanced Equity ETF sets 0.22% fee, ticker JALL
Sep 4, 2026JUSA

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GUSE vs JUSA

In short

Stated mandate

Why people hold it

Worth knowing

How GUSE and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GUSE

Only in JUSA

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

YieldMax lists an SK hynix options ETF that does not own the shares

JPMorgan All Country Research Enhanced Equity ETF sets 0.22% fee, ticker JALL

How GUSE and JUSA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in GUSE

Only in JUSA

Weight gaps