Goldman Sachs Motif Finance Reimagined
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.2x P/Sales
ratio
2.8x
P/BV
ratio
3.2x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Motif Finance Reimagined Index.

FUND BASICS
Category Global Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Mar 01, 2019
Assets (mns) $11
Currency USD
Expense ratio 50 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 119
Wgt avg mkt cap (mns) $54,672
Large cap (>$10bn) 57.8%
Mid cap ($2-10bn) 31.0%
Small cap (<$2bn) 11.3%
Developed mkts 96.5%
Emerging mkts 3.5%

TOP TEN HOLDINGS
MASTERCARD INC-CLASS A 4.8 %
VISA INC-CLASS A SHARES 4.0 %
PAYPAL HOLDINGS INC 2.5 %
SQUARE, INC. CLASS A 2.4 %
AMERICAN EXPRESS CO 2.4 %
FISERV INC 2.1 %
INTUIT INC 2.0 %
FIDELITY NATIONAL INFORMATIO 1.8 %
BROOKFIELD ASSET MANAGE-CL A 1.7 %
INTERCONTINENTALEXCHANGE INC 1.7 %
Total 25.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 68.8 %
BRITAIN 6.1 %
CHINA 4.2 %
JAPAN 4.1 %
CANADA 3.6 %
FRANCE 2.7 %
BRAZIL 1.8 %
GERMANY 1.8 %
NETHERLANDS 1.3 %
IRELAND 1.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
8.4% -- -- -- 8.4%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $57.32
30d moving avg. $55.43
Annualized volatility 0.0%
Short interest (ETF) 4.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $14,367

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Goldman Sachs Motif Finance Reimagined ETF based on the alternatives' overlap in portfolio holdings with GFIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GFIN Expense: 50 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GFIN
Ticker Fund
Name
Overlap1
vs GFIN
(%)
Expense
ratio
(bp)
Savings
vs GFIN
(bp)
ALTAR
Score™
(%)
ALTAR
vs GFIN
(%)
TPAY Tortoise Digital Payments Infrastructure Fund 33.5 40 10 5.1 -0.4
IPAY ETFMG Prime Mobile Payments 32.6 75 -25 6.1 +0.6
FINX Global X FinTech Thematic 21.0 68 -18 3.3 -2.2
JHMF John Hancock Multifactor Financials 20.6 40 10 6.7 +1.2
XSW SPDR S&P Software & Services 20.2 35 15 4.2 -1.3
KOIN Innovation Shares NextGen Protocol 19.5 95 -45 4.7 -0.8
PLAT WisdomTree Modern Tech Platforms 19.3 45 5 2.9 -2.6
IYG iShares DJ US Financial Services 18.7 42 8 6.5 +1.0
DTEC ALPS Disruptive Technologies 18.3 50 0 3.5 -2.0
FTEC Fidelity MSCI Info Technology 18.2 8 42 5.4 -0.1
XLK Technology Select Sector SPDR 18.0 13 37 5.5 0.0
VGT Vanguard Info Tech ETF 18.0 10 40 5.4 -0.1
ARKF ARK Fintech Innovation 17.5 75 -25 1.9 -3.6
BLCN Reality Shares NASDAQ NextGen Economy 16.6 68 -18 5.7 +0.2
RYT Invesco S&P Equal Weight Technology 16.5 40 10 6.5 +1.0
SPMO Invesco S&P 500 Momentum Portfolio 16.1 13 37 4.2 -1.3
IXN iShares S&P Global Technology 16.0 46 4 5.3 -0.2
IGM iShares S&P N. American Technology 15.9 46 4 4.6 -0.9
IYF iShares DJ US Financials 15.1 42 8 6.2 +0.7

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Goldman Sachs Motif Finance Reimagined
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.5 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 50 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.54
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.