The generalized Chaplygin gas model is characterized by the equation of state p = − A ρ α . It is generally stated that the case α = 0 is equivalent to a model with cosmological constant and dust (ΛCDM ). In this work we show that, if this is true for the background equations, this is not true for the perturbation equations. Hence, the mass spectrum predicted for both models may differ. The generalized Chaplygin gas (GCG) [1] is a recent proposal in order to explain the observed acceleration of the Universe [2,3]. It is an exotic fluid with negative pressure whose equation of state is given bywith 0 ≤ α ≤ 1. This exotic fluid has been considered as an alternative to quintessence [4] and to the cosmological constant [5], which are other serious candidates to explain the accelerated expansion of the Universe. Many observational constraints have been obtained for cosmological models based on the GCG. One interesting aspect of such exotic fluid is connected with a possible unification of dark matter and dark energy through a simple fluid described by the equation of state (1). Some authors (see, for example, reference [6]) claim that the comparison with observation indicates that α is peaked around zero. At same time, it is generally argued in the literature that the case α = 0 is equivalent to a ΛCDM model [7,8,6]. The aim of the present letter is to show that, if this is true for the background solutions, it is not true for the linearized equations. In this sense, in what concerns the type Ia supernovae data both models leads to the same results, as well as for the position of the acoustic peaks in spectrum of the anisotropy of the cosmic microwave background radiation. But we expect a disagreement concerning the predictions for the mass spectrum.The case α = 0 means that the pressure remains constant as the Universe expands and the density decreases. Since, for this case, p = −A, the equations of motion for an isotropic and homogeneous Universe described by the flat Friedmann-Robertson-Walker metric are: