GUSE vs TFGZ

GUSEAGoldman Sachs Enhanced U.S. Equity ETF

TFGZDThornburg Focus Growth Fund

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.

TFGZ Thornburg's 2026 entry in U.S. growth: large-cap names picked one at a time for above-average earnings and cash-flow growth, built bottom-up rather than off a forecast for the economy.

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.

TFGZ The fund invests mainly in U.S. equities and pursues growth by selecting companies with above-average earnings and cash-flow growth, often emphasizing large-cap issuers. Its portfolio is built bottom-up around individual stock evaluation rather than broad economic-cycle analysis.

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.

• TFGZ The mandate is specific, not vague 'growth': U.S. companies with above-average earnings and cash-flow growth, with an emphasis on large caps.
• Bottom-up by design. Each holding is judged on its own numbers rather than slotted in from a view on the economic cycle.
• Growth is stated up front in the fund's own documents, so the style is declared rather than reverse-engineered from the holdings list.
• A pure U.S. equity book: no currency translation or foreign market hours layered on top of the stock picking.

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.

• TFGZ Costs 0.79% a year, above the 0.54% median for its active U.S. growth peers and well above enhanced-index rivals like JUSA (0.12%) and FELG (0.18%).
• New in 2026, small, and thinly traded: spreads can run wider than in the category's giants, and there is little history to judge the manager's hand.
• Built for growth, not income. It has not been paying distributions, so results ride on share price alone.

Full GUSE profile⁠

Full TFGZ profile⁠