At a glance
GSSC charges 0.2% a year, below the 0.28% average of the 8 funds most like it (the 5th cheapest of 9). It has $1.08B in assets, the 6th largest of that group; it paid 0.99% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +15.6% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +20.5% a year. At its worst it fell 40.7% in the 2020 crash (S&P 500: 33.7%) and 25.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 18 months after the lows. Its ten largest positions make up 3.5% of the fund, out of 1,413 in all.
The short version
The Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (GSSC) tracks a Goldman Sachs index that starts with the Russell 2000 and tilts toward small US stocks with strong value, momentum, quality and low-volatility scores. As of August 31, 2026, it held 1,413 stocks, and none made up more than 0.49% of assets. Its 0.20% expense ratio is below the 0.28% peer average but above plain Russell 2000 funds such as VTWO, at 0.07%.
Price history
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GSSC +15.6% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GSSC official prospectus, to Dec 31, 2024 | — | +10.94% | — | +9.24% | — | +8.80% |
| GSSC price data to Oct 27, 2026 | +16.2% | +15.6% | +20.5% | +7.5% | — | +10.1% |
- Over the year to Oct 27, 2026, GSSC returned +15.6%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +7.5%.
- In the 2020 COVID crash it fell 40.7% and regained its old high 7.6 months after the low.
- Its worst full calendar year was 2022 (-16.8%); its best was 2021 (+24.1%).
- The deepest fall in its price history was 41.4% (Aug 30, 2018 to Mar 23, 2020), recovered by Nov 10, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +16.2% | — |
| 2025 | +10.8% | — |
| 2024 | +11.2% | +10.94% |
| 2023 | +17.3% | +17.37% |
| 2022 | -16.8% | -16.87% |
| 2021 | +24.1% | +24.05% |
| 2020 | +16.0% | +15.80% |
| 2019 | +23.2% | +23.43% |
| 2018 | -9.2% | -8.72% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.6% over that stretch · deepest drop along the way 40.7%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22.8% over that stretch · deepest drop along the way 25.1%, back to its old high 18 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6100 | |
| 2025 | $0.8900 | -10.1% |
| 2024 | $0.9900 | +17.9% |
| 2023 | $0.8400 | +16.7% |
| 2022 | $0.7200 | +7.5% |
| 2021 | $0.6700 | +34.0% |
| 2020 | $0.5000 | -15.3% |
| 2019 | $0.5900 | +22.9% |
| 2018 | $0.4800 |
What's inside
As of Aug 31, 2026, the fund held 1,413 securities; the ten largest made up 3.54% of assets, and 2.59% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| 10X GENOMICS INC | 0.49% | |
| CAREDX INC | 0.41% | |
| ALKERMES PLC | 0.38% | |
| TRAVERE THERAPEUTICS INC | 0.38% | |
| ENOVA INTERNATIONAL INC | 0.37% | |
| ACADIAN ASSET MANAGEMENT INC | 0.34% | |
| ZETA GLOBAL HOLDINGS CORP | 0.31% | |
| DAVE INC | 0.30% | |
| STONEX GROUP INC | 0.29% | |
| ACADIA PHARMACEUTICALS INC | 0.28% | |
| APPIAN CORP | 0.27% | |
| ATRICURE INC | 0.27% | |
| ABERCROMBIE & FITCH COMPANY | 0.26% | |
| VICTORIA'S SECRET & COMPANY | 0.26% | |
| TG THERAPEUTICS INC | 0.25% |
By country
United States 90.42%Bermuda 2.19%Canada 1.11%Cayman Islands 1.02%Ireland 0.81%By asset type
Stocks 98.45%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $52.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.14%, -2.31%, +0.65%.
How it works
GSSC aims to match, before fees, the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index. Goldman Sachs Asset Management designs the index, and Solactive AG calculates it. The starting point is the Russell 2000. That is a common benchmark of small US companies, weighted by market capitalization (share price times shares outstanding).
The index is built in two steps. First, every Russell 2000 stock gets a score on each of four "factors": value (book value, sales and free cash flow compared with share price), momentum (whether the price is trending up), quality (profitability) and low volatility (smaller price swings). A stock scoring above a fixed cut-off gets more weight than it has in the Russell 2000. A stock scoring below gets less, possibly zero. The index never bets against stocks (no short selling). Second, the four factor versions are blended in equal parts. The index is rebalanced quarterly on the Russell schedule. As of December 1, 2025, it held 1,330 stocks with market values from about $76 million to $29.6 billion.
The fund keeps at least 80% of its assets in index securities. It may hold a sample of them rather than every one. Because the tilts are modest, the top ten holdings made up just 3.54% of assets as of August 31, 2026. Portfolio turnover was 30%.
What it really costs
- GSSC charges 0.2% a year, versus an average of 0.28% for the similar funds below (5th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GSSC | $20 | $64 | $113 | $255 |
In a retirement portfolio
It adds small-company exposure that has swung harder than the broad market, so it fits beside a core holding rather than in place of one.
GSSC could add a small-company slice to a portfolio built mostly on large companies. It launched in June 2017, so it has no record from the 2008 crisis. In the 2020 COVID crash, it fell 40.7% in about a month and got back to its old peak by November 10, 2020. In the 2022 bear market, it dropped 25.1% and didn't recover until March 28, 2024, about 18 months later. Its worst calendar year was 2022, at -16.87%. Anyone who has to sell shares in a drop like that locks in the loss. Income is small: the trailing yield was 0.99% as of October 27, 2026, paid quarterly. Costs are low. In the SEC's standard example, $10,000 invested would pay $255 in fees over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want about 1,400 small US companies, tilted toward value, momentum, quality and low-volatility stocks, for 0.20% a year.
- Long-term holders adding small caps next to a large-cap core who can sit through drops like the 40.7% fall in early 2020.
- People comparing multifactor small-cap funds: GSSC's 0.20% fee is below JPSE's 0.29% and OMFS's 0.39%.
Look elsewhere if
- Those who want the cheapest plain Russell 2000 exposure: VTWO charges 0.07% and RSSL 0.08%.
- Income seekers: the trailing yield was 0.99% as of October 27, 2026, paid quarterly.
- Anyone who may need to sell within a few years: the 25.1% drop in 2022 took about 18 months to recover.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GSSC this fund | — | 0.2% | $1.08B | +15.6% | +20.5% |
| VTWO Vanguard Russell 2000 ETF | 41% | 0.07% | $17.95B | +15.4% | +21.2% |
| RSSL Global X Russell 2000 ETF | 40% | 0.08% | $1.49B | +13.2% | — |
| IWM iShares Russell 2000 ETF | 39% | 0.19% | $82.97B | +14.5% | +19.3% |
| JPSE JPMorgan Diversified Return U.S. Small Cap … | 36% | 0.29% | $591.2M | +15.9% | +18.0% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 34% | 0.07% | $6.45B | +16.7% | +18.6% |
| OMFS Invesco Russell 2000 Dynamic Multifactor ETF | 33% | 0.39% | $281.3M | +13.6% | +17.9% |
| IWO iShares Russell 2000 Growth ETF | 33% | 0.24% | $15.43B | +6.0% | +18.8% |
Questions investors ask
Is GSSC good for retirement?
It can fill a small-company slot in a retirement portfolio, but it carries more risk than a broad large-cap fund. It returned an average of 9.24% a year over the five years to December 31, 2024. It also fell 40.7% in early 2020 and 25.1% in 2022. Its three-year volatility was 20.2% as of October 27, 2026. It tends to fit as a smaller holding next to steadier core funds, not as a whole stock allocation.
GSSC vs VTWO: what's the difference?
Both own small US companies drawn from the Russell 2000. VTWO tracks that index by market value. GSSC tilts toward stocks with strong value, momentum, quality and low-volatility scores. Their holdings overlap by about 41%. VTWO is cheaper, at 0.07% versus 0.20%. Results have been close. Over one year, GSSC returned 15.6% through October 27, 2026, and VTWO 15.4% through October 30, 2026. Over three years, VTWO was ahead, at 21.2% a year versus 20.5%.
Does GSSC pay dividends?
Yes, GSSC pays dividends every quarter. In the 12 months to October 27, 2026, it paid $0.86 per share, a trailing yield of 0.99%. That's a small income stream, partly because many small companies reinvest their profits instead of paying them out. Investors who need steady cash from their portfolio would likely rely on other holdings or on selling shares. The amount paid can also change from quarter to quarter.
What is GSSC's expense ratio?
GSSC's expense ratio is 0.20%, according to its prospectus filed December 29, 2025. All of it is the management fee, and there is no fee waiver. In the SEC's standard example ($10,000 invested, 5% annual return), that comes to about $20 in fees after one year, $113 after five years and $255 after ten. It's below the 0.28% average for similar funds, close to IWM's 0.19%, and well above VTWO and VIOO at 0.07%.
Is GSSC actively managed?
No. Despite the ActiveBeta name, GSSC is an index fund. It tracks a rules-based Goldman Sachs index instead of relying on a manager's views about companies or the economy. The "active" part means the index shifts Russell 2000 weights toward stocks with strong value, momentum, quality and low-volatility scores. The fund generally won't sell a struggling company unless the index drops it, and it doesn't move into defensive positions when markets fall.