AFSM vs GSC
First Trust Active Factor Small Cap ETF vs Goldman Sachs Small Cap Equity ETF
Which is better, AFSM or GSC?
AFSM has been ahead.
AFSM led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. AFSM is less concentrated, with 8.4% of the fund in its ten largest positions against 16.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFSM | GSC |
|---|---|---|
| Expense Ratio | 0.75%Tie | 0.75%Tie |
| AUM | $130M | $286M |
| Dividend Yield | 0.52% | 0.22% |
| Holdings | 657 | 197 |
| YTD Return | +19.57%Best | +10.48% |
| 1Y Return | +23.10%Best | +14.01% |
| 3Y Return (annualized) | +19.42%Best | +14.86% |
| 5Y Return (annualized) | +9.06% | - |
| Volatility (annualized) | 17.7%Best | 18.5% |
| Max Drawdown | -25.1%Best | -27.0% |
| $10,000 over 3 years | $17,031Best | $15,416 |
| Top 10 Weight | 8.4%Best | 16.3% |
| Fund Family | First Trust Portfolios (US) | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Dec 4, 2019 | Oct 3, 2023 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 5, 2023 to Oct 14, 2026 (3 years).
AFSM vs GSC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
AFSM vs GSC Performance
First Trust Active Factor Small Cap ETF (AFSM) is an ETF from First Trust Portfolios (US) and Goldman Sachs Small Cap Equity ETF (GSC) is an ETF from Goldman Sachs Asset Management. Over the past year AFSM returned +23.10% while GSC returned +14.01%. Year to date, AFSM is up 19.57% versus a gain of 10.48% for GSC.
Over three years, AFSM compounded at +19.42% per year against +14.86% for GSC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GSC has been the more volatile fund, with annualized monthly volatility of 18.5% compared with 17.7% for AFSM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.1% for AFSM and -27.0% for GSC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFSM charges 0.75% per year while GSC charges 0.75%. On a $10,000 position that is $75 vs $75 annually. On income, AFSM currently yields 0.52% against 0.22% for GSC.
Holdings Overlap
4.9% of AFSM's money is in holdings GSC also owns. 19.0% of GSC's money is in holdings AFSM also owns.
GSC and AFSM share little of their money.
17 positions in common, counted across the 321 positions we hold weights for in AFSM and 98 in GSC, against full books of 657 and 197.
What only one of them owns
Our book lists 76 positions for GSC that do not appear in our book for AFSM (78.2% of the fund), and 286 for AFSM that do not appear in GSC (88.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AFSM | Weight in GSC | Difference |
|---|---|---|---|
| GKOSGlaukos Corp Common Stock Usd 0.001 | 0.10% | 1.77% | 1.67% |
| NMIHNmi Holdings Inc. | 0.31% | 1.49% | 1.18% |
| KRYSKrystal Biotech Inc | 0.58% | 1.21% | 0.63% |
| COHUCohu Inc | 0.34% | 1.44% | 1.10% |
| FORMFormfactor, Inc. | 0.42% | 1.30% | 0.88% |
| ALKS:IEAlkermes Plc. Ordinary Shares | 0.20% | 1.49% | 1.29% |
| LGNDLigand Pharmaceuticals Incorporated | 0.18% | 1.35% | 1.17% |
| EATBrinker Intl Inc | 0.39% | 1.05% | 0.66% |
| TXG10x Genomics Inc Com Usd 1 Cl A | 0.52% | 0.88% | 0.36% |
| GFFGriffon Corp. | 0.11% | 1.25% | 1.14% |
You are not choosing between two funds in isolation.
Whichever of AFSM and GSC you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFSM or GSC?
AFSM has an expense ratio of 0.75% while GSC charges 0.75%. At the precision these are quoted to, they cost the same.
Which performed better, AFSM or GSC?
Over the past year AFSM returned +23.10% vs +14.01% for GSC, so AFSM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AFSM or GSC?
GSC has been the more volatile fund at 18.5% annualized versus 17.7% for AFSM. Worst drawdown: AFSM -25.1% vs GSC -27.0%.
Should I hold both AFSM and GSC?
AFSM and GSC have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AFSM and GSC?
19.0% of GSC's money is in holdings AFSM also owns. 19.0% of GSC's is in holdings AFSM also owns. They hold 17 positions in common, counted across the 321 positions we hold weights for in AFSM and 98 in GSC.
Which pays a higher dividend, AFSM or GSC?
AFSM yields 0.52% while GSC yields 0.22%, so AFSM currently pays the higher dividend yield.
Is GSC better than AFSM?
AFSM led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.96. AFSM is less concentrated, with 8.4% of the fund in its ten largest positions against 16.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.