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Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Goldman Sachs ActiveBeta® Emerging Markets Equity ETF

GEM | ETF

$33.19

$945 M

0.00%

0.52%

Vitals

YTD Return

8.1%

1 yr return

12.2%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

2.7%

Net Assets

$945 M

Holdings in Top 10

25.8%

52 WEEK LOW AND HIGH

$33.2
$28.89
$36.14

Expenses

OPERATING FEES

Expense Ratio 0.52%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 46.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Goldman Sachs ActiveBeta® Emerging Markets Equity ETF

GEM | ETF

$33.19

$945 M

0.00%

0.52%

GEM - Profile

Distributions

  • YTD Total Return 8.1%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.76%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Goldman Sachs ActiveBeta® Emerging Markets Equity ETF
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Sep 25, 2015
  • Shares Outstanding
    35450000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Raj Garigipati

Fund Description

The Fund seeks to achieve its investment objective by investing at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index.The Index is designed to deliver exposure to equity securities of emerging market issuers. The Index is constructed using the patented ActiveBeta® Portfolio Construction Methodology, which was developed to provide exposure to the “factors” (or characteristics) that are commonly tied to a stock’s outperformance relative to market returns. These factors include value (i.e., how attractively a stock is priced relative to its “fundamentals,” such as book value and free cash flow), momentum (i.e., whether a company’s share price is trending up or down), quality (i.e., profitability) and low volatility (i.e., a relatively low degree of fluctuation in a company’s share price over time). Given the Fund’s investment objective of attempting to track its Index, the Fund does not follow traditional methods of active investment management, which may involve buying and selling securities based upon analysis of economic and market factors.Goldman Sachs Asset Management, L.P. (the “Index Provider”) constructs the Index in accordance with a rules-based methodology that involves two steps.Step 1In the first step, individual factor subindexes for value, momentum, quality and low volatility (the “ActiveBeta® Factor Subindexes”) are created from the constituents of the MSCI Emerging Markets Index (the “Reference Index”), a market capitalization-weighted index. To construct each ActiveBeta® Factor Subindex, all constituents in the Reference Index are assigned a “factor score” based on certain specified measurements (for example, in the case of the value factor, the factor score is based on a composite of book value-to-price, sales-to-price and free cash flow-to-price). Securities with a factor score that is above a fixed “Cut-off Score” receive an overweight in the applicable ActiveBeta® Factor Subindex relative to the Reference Index and securities with a factor score that is below the Cut-off Score receive an underweight in the ActiveBeta® Factor Subindex relative to the Reference Index. Accordingly, the magnitude of overweight or underweight that a security receives in constructing the applicable ActiveBeta® Factor Subindex is determined by its attractiveness when evaluated based on the relevant factor. The Index only includes long positions (i.e., short positions are impermissible), so the smallest weight for any given security is zero.Step 2The ActiveBeta® Factor Subindexes are combined in equal weights to form the Index.The Index is normally rebalanced on a quarterly basis in accordance with the published rebalancing schedule of the Reference Index. The rules-based process used to construct the Index incorporates the ActiveBeta® Turnover Minimization Technique, which seeks to reduce turnover within the Index.As of December 1, 2023, the Index consisted of 778 securities with a market capitalization range of between approximately $1.84 billion and $2.13 trillion from issuers in the following emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, South Korea, Taiwan, Thailand, Turkey and United Arab Emirates. The components of the Index may change over time. The percentage of the portfolio exposed to any asset class, country or geographic region will vary from time to time as the weightings of the securities within the Index change, and the Fund may not be invested in each asset class, country or geographic region at all times. The Index Provider determines whether an issuer is located in an emerging market country by reference to the Reference Index methodology. MSCI Inc., which constructs the Reference Index, will generally deem an issuer to be located in an emerging market country if it is organized under the laws of the emerging market country and it is primarily listed in the emerging market country; in the event that these factors point to more than one country, the Reference Index methodology provides for consideration of certain additional factors.The Index is comprised of equity securities, including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). The Fund seeks to invest in the Index components in approximately the same weighting that such components have within the Index at the applicable time. The Fund may purchase a sample of securities in its Index. There may also be instances in which the Investment Adviser may choose to underweight or overweight a security in the Fund’s Index, purchase securities not in the Fund’s Index that the Investment Adviser believes are appropriate to substitute for certain securities in such Index or utilize various combinations of other available investment techniques.The Fund may concentrate its investments (i.e., hold more than 25% of its total assets) in a particular industry or group of industries to the extent that its Index is concentrated. The degree to which components of the Index represent certain sectors or industries may change over time.
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GEM - Performance

Return Ranking - Trailing

Period GEM Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -12.0% 32.8% 47.17%
1 Yr 12.2% -7.2% 35.4% 53.12%
3 Yr -1.4%* -14.3% 11.2% 34.51%
5 Yr 2.7%* -5.5% 11.3% 56.75%
10 Yr N/A* -2.1% 6.5% 71.05%

* Annualized

Return Ranking - Calendar

Period GEM Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -6.5% 35.5% 52.33%
2022 -23.5% -50.1% -2.4% 42.21%
2021 -3.0% -33.1% 22.5% 37.60%
2020 11.2% -22.1% 80.1% 71.66%
2019 14.0% -0.7% 42.0% 80.50%

Total Return Ranking - Trailing

Period GEM Return Category Return Low Category Return High Rank in Category (%)
YTD 8.1% -12.0% 32.8% 47.17%
1 Yr 12.2% -7.2% 35.4% 53.12%
3 Yr -1.4%* -14.3% 11.2% 34.51%
5 Yr 2.7%* -5.5% 11.3% 56.75%
10 Yr N/A* -2.1% 6.5% N/A

* Annualized

Total Return Ranking - Calendar

Period GEM Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -2.7% 42.0% 42.17%
2022 -21.3% -42.2% 1.9% 36.54%
2021 -0.2% -32.5% 33.1% 45.15%
2020 13.2% -20.0% 81.6% 72.62%
2019 17.8% 2.3% 42.0% 74.17%

GEM - Holdings

Concentration Analysis

GEM Category Low Category High GEM % Rank
Net Assets 945 M 682 K 103 B 37.18%
Number of Holdings 809 9 7534 7.46%
Net Assets in Top 10 243 M 290 K 23.8 B 42.11%
Weighting of Top 10 25.77% 2.9% 101.1% 82.79%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 8.97%
  2. Tencent Holdings Ltd 3.78%
  3. Goldman Sachs Financial Square Treasury Obligations Fund 3.54%
  4. Samsung Electronics Co Ltd 3.27%
  5. Alibaba Group Holding Ltd 1.81%
  6. Reliance Industries Ltd 1.02%
  7. Infosys Ltd 0.98%
  8. China Construction Bank Corp 0.82%
  9. SK Hynix Inc 0.79%
  10. ICICI Bank Ltd 0.79%

Asset Allocation

Weighting Return Low Return High GEM % Rank
Stocks 		97.89% 0.00% 107.82% 39.15%
Cash 		3.83% -2.03% 98.08% 16.34%
Preferred Stocks 		2.05% 0.00% 13.31% 21.55%
Other 		0.00% -1.11% 26.93% 90.28%
Convertible Bonds 		0.00% 0.00% 7.40% 94.47%
Bonds 		0.00% 0.00% 88.10% 94.51%

Stock Sector Breakdown

Weighting Return Low Return High GEM % Rank
Financial Services 		21.27% 0.00% 48.86% 55.49%
Technology 		21.03% 0.00% 47.50% 59.06%
Consumer Cyclical 		10.81% 0.00% 48.94% 71.90%
Consumer Defense 		10.09% 0.00% 25.90% 13.12%
Communication Services 		9.86% 0.00% 39.29% 37.38%
Basic Materials 		8.85% 0.00% 30.03% 41.65%
Industrials 		5.38% 0.00% 43.53% 62.05%
Healthcare 		4.89% 0.00% 16.53% 35.09%
Energy 		3.93% 0.00% 24.80% 53.78%
Utilities 		2.88% 0.00% 39.12% 24.25%
Real Estate 		1.02% 0.00% 17.15% 65.19%

Stock Geographic Breakdown

Weighting Return Low Return High GEM % Rank
Non US 		95.30% 0.00% 100.18% 9.58%
US 		2.59% 0.00% 100.95% 87.32%

GEM - Expenses

Operational Fees

GEM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.52% 0.03% 29.98% 91.10%
Management Fee 0.40% 0.00% 2.00% 8.18%
12b-1 Fee 0.00% 0.00% 1.00% 14.85%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

GEM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GEM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GEM Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 46.00% 0.00% 189.00% 51.47%

GEM - Distributions

Dividend Yield Analysis

GEM Category Low Category High GEM % Rank
Dividend Yield 0.00% 0.00% 9.74% 48.59%

Dividend Distribution Analysis

GEM Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

GEM Category Low Category High GEM % Rank
Net Income Ratio 1.76% -1.98% 17.62% 21.93%

Capital Gain Distribution Analysis

GEM Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

GEM - Fund Manager Analysis

Managers

Raj Garigipati

Start Date

Tenure

Tenure Rank

Sep 25, 2015

6.68

6.7%

Mr. Garigipati joined the ETF Portfolio Management team in 2015. Mr. Garigipati joined Goldman Sachs in 2003 as a Technology audit analyst in the Internal Audit department covering the Investment Management Division and later was the global audit lead for GSAM before joining the QIS team in 2011 as the Chief Risk Officer. Prior to joining the ETF Portfolio Management team, he had been the Chief Risk Officer of the Quantitative Investment Strategies team since 2011. He joined Goldman Sachs in 2003.

Matthew Maillet

Start Date

Tenure

Tenure Rank

Apr 04, 2022

0.16

0.2%

Mr. Maillet is a portfolio manager on the ETF Portfolio Management team within GSAM’s QIS platform. He joined QIS in 2015 as a deputy chief operating officer where he was named a vice president in 2016, and subsequently joined the ETF Portfolio Management team in 2018.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.65 13.42

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