TR Activebeta US Large Cap Equity ETF

The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC) holds about 430 large US companies. It shifts their weights toward four traits: value, momentum, quality and low volatility. Its 0.09% annual fee (expense ratio) is low, but VOO and IVV charge only 0.03%. About 73% of its holdings overlap with theirs, and it trailed them over one and three years to October 29, 2026.

• Over the year to Nov 2, 2026, GSLC returned +10.0%, 9th of 9 among similar funds.
• Its 5-year annualized return was +10.7% and its 10-year +14.8%.
• In the 2020 COVID crash it fell 33.7% and regained its old high 4.5 months after the low.
• Its worst full calendar year was 2022 (-18.7%); its best was 2019 (+30.8%).
• The deepest fall in its price history was 33.7% (Feb 19, 2020 to Mar 23, 2020), recovered by Aug 6, 2020.

As of Aug 31, 2026, the fund held 426 securities; the ten largest made up 35.15% of assets.

By sector

• Over the three months to Aug 31, 2026, investors withdrew a net $696.1M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -0.88%, +0.57%, +2.47%.

GSLC tracks the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, which Goldman Sachs Asset Management builds by fixed rules. The index starts from the Solactive US Large Cap Index, which weights companies by market value (share price times shares outstanding). It then scores every stock on four "factors," which are traits commonly tied to beating the market. Value means a low price relative to book value, sales and free cash flow. Momentum means a rising share price. Quality means profitability. Low volatility means a steadier share price.

For each factor, stocks that score above a set cut-off get more weight than in the starting index. Stocks below it get less, down to zero. The index never bets against a stock. The four factor portfolios are then blended in equal parts. The result still looks a lot like the broad market. As of August 31, 2026, NVIDIA (8.0%), Apple (7.0%) and Microsoft (5.3%) were the largest holdings, and the top 10 made up about 35% of assets.

The index normally rebalances every quarter. The fund may hold a sample of the index's stocks rather than all of them, and the prospectus lists portfolio turnover of 19%. It uses no leverage or options. As of August 31, 2026, it held about 0.5% in cash and a very small E-mini S&P 500 futures position. Because the fund follows rules, it generally won't sell a struggling company unless the index drops it.

• GSLC charges 0.09% a year, versus an average of 0.06% for the similar funds below (7th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $9 in the first year and $115 over 10 years (assuming a 5% annual return).

It spreads money across about 430 large US companies for 0.09% a year, and its factor tilts keep it close to the broad market.

GSLC could serve as the core large-company stock holding in a portfolio. In a sell-off, though, it falls about as much as the market. It launched in 2015, so it has no record from 2008. In the 2020 COVID crash it fell 33.7% between February 19 and March 23, then recovered its peak by August 6, about 4.5 months later. In the 2022 bear market it dropped 24.7% and needed about 14.4 months to recover, until December 13, 2023. Its worst calendar year was 2022, at -18.66%. Anyone forced to sell shares for spending money during a slump like that would lock in losses. Income is modest: the trailing yield was 1.01% as of October 29, 2026, paid quarterly. In the SEC's standard example, $10,000 invested costs $9 in the first year and $115 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.