GUSA vs TAX
Goldman Sachs MarketBeta US 1000 Equity ETF vs Cambria Tax Aware ETF
Which is better, GUSA or TAX?
GUSA has been ahead.
GUSA has a lower expense ratio. GUSA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. TAX is less concentrated, with 17.5% of the fund in its ten largest positions against 35.3%.
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 | GUSA | TAX |
|---|---|---|
| Expense Ratio | 0.10%Best | 0.54% |
| AUM | $2.5B | $25M |
| Dividend Yield | 0.98% | 0.32% |
| Holdings | 2,012 | 200 |
| YTD Return | +12.95%Best | +5.03% |
| 1Y Return | +16.49%Best | +8.84% |
| 3Y Return (annualized) | +21.86% | - |
| Volatility (annualized) | 12.5%Best | 12.8% |
| Max Drawdown | -19.6% | -18.9%Best |
| $10,000 over 1.8 years | $13,176Best | $12,395 |
| Top 10 Weight | 35.3% | 17.5%Best |
| Fund Family | Goldman Sachs Asset Management | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 5, 2022 | Dec 18, 2024 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 18, 2024 to Oct 14, 2026 (1.8 years).
GUSA vs TAX 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 1.8 years both funds cover.
GUSA vs TAX Performance
Goldman Sachs MarketBeta US 1000 Equity ETF (GUSA) is an ETF from Goldman Sachs Asset Management and Cambria Tax Aware ETF (TAX) is an ETF from Cambria Investment Management. Over the past year GUSA returned +16.49% while TAX returned +8.84%. Year to date, GUSA is up 12.95% versus a gain of 5.03% for TAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAX has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 12.5% for GUSA. 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 -19.6% for GUSA and -18.9% for TAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GUSA charges 0.10% per year while TAX charges 0.54%. On a $10,000 position that is $10 vs $54 annually, a gap of $44 per year that compounds over a long holding period. On income, GUSA currently yields 0.98% against 0.32% for TAX.
Holdings Overlap
10.9% of GUSA's money is in holdings TAX also owns. 84.7% of TAX's money is in holdings GUSA also owns.
Most of TAX is already inside GUSA. Owning both mostly buys the same companies twice.
82 positions in common, counted across the 1,004 positions we hold weights for in GUSA and 98 in TAX, against full books of 2,012 and 200.
What only one of them owns
Our book lists 15 positions for TAX that do not appear in our book for GUSA (14.0% of the fund), and 853 for GUSA that do not appear in TAX (88.3%).
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 GUSA | Weight in TAX | Difference |
|---|---|---|---|
| GOOGLAlphabet Inc | 2.77% | 0.96% | 1.81% |
| AMDAdvanced Micro Devices Inc | 1.16% | 2.37% | 1.21% |
| METAMeta Platforms Inc | 2.02% | 0.94% | 1.08% |
| LLYEli Lilly & Co. | 1.35% | 1.07% | 0.28% |
| TWLOTwilio Inc. Class A | 0.05% | 2.34% | 2.29% |
| RVMDRevolution Medicines Inc Ser C Pc Pp | 0.05% | 1.98% | 1.93% |
| NTRANatera Inc | 0.06% | 1.69% | 1.63% |
| GEVGe Vernova, Inc. | 0.35% | 1.34% | 0.99% |
| FROGJfrog Ltd | 0.01% | 1.66% | 1.65% |
| ROIV:BMRoivant Sciences Ltd. Common Shares | 0.03% | 1.54% | 1.51% |
84.7% of TAX is already inside GUSA.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GUSA or TAX?
GUSA has an expense ratio of 0.10% while TAX charges 0.54%. GUSA is the cheaper option, by $44 a year on a $10,000 investment.
Which performed better, GUSA or TAX?
Over the past year GUSA returned +16.49% vs +8.84% for TAX, so GUSA leads on 1-year performance. Over the longest common window we track (2 years), GUSA annualized +16.56% vs +12.67% for TAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GUSA or TAX?
TAX has been the more volatile fund at 12.8% annualized versus 12.5% for GUSA. Worst drawdown: GUSA -19.6% vs TAX -18.9%.
Should I hold both GUSA and TAX?
GUSA and TAX have a monthly-return correlation of 0.92, 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 GUSA and TAX?
84.7% of TAX's money is in holdings GUSA also owns. 84.7% of TAX's is in holdings GUSA also owns. They hold 82 positions in common, counted across the 1,004 positions we hold weights for in GUSA and 98 in TAX.
Which pays a higher dividend, GUSA or TAX?
GUSA yields 0.98% while TAX yields 0.32%, so GUSA currently pays the higher dividend yield.
Is TAX better than GUSA?
GUSA has a lower expense ratio. GUSA led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.92. TAX is less concentrated, with 17.5% of the fund in its ten largest positions against 35.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.