JUST vs MSLC
Goldman Sachs JUST US Large Cap Equity ETF vs Morgan Stanley Pathway Large Cap Equity ETF
Which is better, JUST or MSLC?
Nearly the same fund. JUST costs less.
JUST has a lower expense ratio. JUST led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 41.9%.
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 | JUST | MSLC |
|---|---|---|
| Expense Ratio | 0.20%Best | 0.39% |
| AUM | $572M | $4.1B |
| Dividend Yield | 0.94% | 1.95% |
| Holdings | 461 | 793 |
| YTD Return | +14.35%Best | +10.97% |
| 1Y Return | +18.75%Best | +14.08% |
| 3Y Return (annualized) | +22.22% | - |
| 5Y Return (annualized) | +12.57% | - |
| Volatility (annualized) | 12.7% | 11.9%Best |
| Max Drawdown | -19.3% | -17.9%Best |
| $10,000 over 1.8 years | $12,967Best | $12,375 |
| Top 10 Weight | 41.9% | 35.6%Best |
| Fund Family | Goldman Sachs Asset Management | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 7, 2018 | Dec 9, 2024 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 14, 2026 (1.8 years).
JUST vs MSLC 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.
JUST vs MSLC Performance
Goldman Sachs JUST US Large Cap Equity ETF (JUST) is an ETF from Goldman Sachs Asset Management and Morgan Stanley Pathway Large Cap Equity ETF (MSLC) is an ETF from Morgan Stanley. Over the past year JUST returned +18.75% while MSLC returned +14.08%. Year to date, JUST is up 14.35% versus a gain of 10.97% for MSLC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JUST has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 11.9% for MSLC. 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 -19.3% for JUST and -17.9% for MSLC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JUST charges 0.20% per year while MSLC charges 0.39%. On a $10,000 position that is $20 vs $39 annually, a gap of $19 per year that compounds over a long holding period. On income, JUST currently yields 0.94% against 1.95% for MSLC.
Holdings Overlap
97.4% of JUST's money is in holdings MSLC also owns. 78.0% of MSLC's money is in holdings JUST also owns.
Most of JUST is already inside MSLC. Owning both mostly buys the same companies twice.
389 positions in common, counted across the 462 positions we hold weights for in JUST and 789 in MSLC, against full books of 461 and 793.
What only one of them owns
Our book lists 315 positions for MSLC that do not appear in our book for JUST (19.5% of the fund), and 64 for JUST that do not appear in MSLC (2.5%).
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 JUST | Weight in MSLC | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.84% | 7.04% | 1.80% |
| AAPLApple Inc | 7.84% | 5.80% | 2.04% |
| MSFTMicrosoft Corp_None_0 | 6.25% | 5.55% | 0.70% |
| AMZNAmazon.Com Inc | 4.86% | 4.07% | 0.79% |
| GOOGLAlphabet Inc-cl A | 3.24% | 3.23% | 0.01% |
| AVGOBroadcom Inc | 2.62% | 2.49% | 0.13% |
| GOOGAlphabet, Inc.- Cl C | 2.61% | 1.95% | 0.66% |
| MUMicron Technology, Inc. | 2.03% | 1.60% | 0.43% |
| JPMJpmorgan Chase & Co | 1.94% | 1.61% | 0.33% |
| LLYEli Lilly & Co. | 1.51% | 1.05% | 0.46% |
97.4% of JUST is already inside MSLC.
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, JUST or MSLC?
JUST has an expense ratio of 0.20% while MSLC charges 0.39%. JUST is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, JUST or MSLC?
Over the past year JUST returned +18.75% vs +14.08% for MSLC, so JUST leads on 1-year performance. Over the longest common window we track (2 years), JUST annualized +15.53% vs +12.57% for MSLC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JUST or MSLC?
JUST has been the more volatile fund at 12.7% annualized versus 11.9% for MSLC. Worst drawdown: JUST -19.3% vs MSLC -17.9%.
Should I hold both JUST and MSLC?
JUST and MSLC have a monthly-return correlation of 0.99, 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 JUST and MSLC?
97.4% of JUST's money is in holdings MSLC also owns. 78.0% of MSLC's is in holdings JUST also owns. They hold 389 positions in common, counted across the 462 positions we hold weights for in JUST and 789 in MSLC.
Which pays a higher dividend, JUST or MSLC?
JUST yields 0.94% while MSLC yields 1.95%, so MSLC currently pays the higher dividend yield.
Is MSLC better than JUST?
JUST has a lower expense ratio. JUST led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. MSLC is less concentrated, with 35.6% of the fund in its ten largest positions against 41.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.