Goldman Sachs MarketBeta Emerging Markets Equity ETF
ALTAR
Score™
7.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
16.1x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GSEE tracks an index of emerging markets equities, selected and weighted by market capitalization.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date May 12, 2020
Assets (mns) $39
Currency USD
Expense ratio 36 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 1255
Wgt avg mkt cap (mns) $157,351
Large cap (>$10bn) 75.8%
Mid cap ($2-10bn) 19.9%
Small cap (<$2bn) 1.6%
Developed mkts 7.9%
Emerging mkts 89.2%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.8 %
TENCENT HOLDINGS LTD 6.7 %
TAIWAN SEMICONDUCTOR MANUFAC 5.8 %
SAMSUNG ELECTRONICS CO LTD 3.8 %
RELIANCE INDUSTRIES LTD 1.3 %
ISHARES MSCI MALAYSIA ETF 1.3 %
NASPERS LTD-N SHS 1.3 %
CHINA CONSTRUCTION BANK-H 1.2 %
JD.COM INC-ADR 1.0 %
PING AN INSURANCE GROUP CO-H 1.0 %
Total 31.2 %

TOP COUNTRY EXPOSURE
CHINA 36.7 %
TAIWAN 13.3 %
SOUTH KOREA 10.9 %
INDIA 7.8 %
BRAZIL 5.8 %
SOUTH AFRICA 3.3 %
HONG KONG 3.0 %
RUSSIA 2.9 %
SAUDI ARABIA 2.8 %
THAILAND 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.8% -- -- -- 7.8%

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

Technical Indicators
Recent close $48.58
30d moving avg. $46.58
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $100,112

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Goldman Sachs MarketBeta Emerging Markets Equity ETF ETF based on the alternatives' overlap in portfolio holdings with GSEE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSEE Expense: 36 bp ALTAR Score™: 7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSEE
Ticker Fund
Name
Overlap1
vs GSEE
(%)
Expense
ratio
(bp)
Savings
vs GSEE
(bp)
ALTAR
Score™
(%)
ALTAR
vs GSEE
(%)
EEM iShares MSCI Emerging Markets ETF 87.0 68 -32 7.2 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 84.3 65 -29 7.3 -0.7
IEMG iShares Core MSCI Emerging Markets ETF 80.3 13 23 7.7 -0.3
SCHE Schwab Emerging Markets Equity ETF 78.4 11 25 7.7 -0.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 72.9 68 -32 6.9 -1.1
FLAX Franklin FTSE Asia Ex Japan ETF 72.5 19 17 7.5 -0.4
EEMA iShares MSCI Emerging Markets Asia ETF 72.0 50 -14 7.3 -0.7
VWO Vanguard FTSE Emerging Markets ETF 71.2 10 26 7.8 -0.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 69.3 30 6 7.6 -0.3
PBEE Invesco PureBeta FTSE Emerging Markets ETF 67.6 15 21 8.4 +0.4
JHEM John Hancock Multifactor Emerging Markets ETF 66.2 49 -13 8.2 +0.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 65.6 45 -9 7.7 -0.2
BKEM BNY Mellon Emerging Markets Equity ETF 64.6 11 25 8.2 +0.3
ESGE iShares ESG MSCI EM ETF 60.6 25 11 8.4 +0.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 58.5 32 4 6.0 -1.9
SPEM SPDR Portfolio Emerging Markets ETF 58.1 11 25 7.7 -0.3
BKF iShares MSCI BRIC ETF 53.2 69 -33 7.2 -0.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 52.8 59 -23 10.8 +2.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 51.6 20 16 6.5 -1.4
GMF SPDR S&P Emerging Asia Pacific ETF 49.5 49 -13 7.1 -0.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 46.7 30 6 8.5 +0.6
PXH Invesco FTSE RAFI Emerging Markets ETF 46.6 50 -14 13.2 +5.2
EMXC iShares MSCI Emerging Markets ex China ETF 45.8 25 11 8.0 +0.0
DVEM WisdomTree Emerging Markets Dividend Fund 42.3 32 4 8.1 +0.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 42.2 49 -13 7.7 -0.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 42.0 49 -13 7.6 -0.4
AVEM Avantis Emerging Markets Equity ETF 41.3 33 3 8.6 +0.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 39.8 39 -3 12.7 +4.8
MCHI iShares MSCI China ETF 38.5 59 -23 7.5 -0.4
FLCH Franklin FTSE China ETF 37.6 19 17 8.0 +0.0
GXC SPDR S&P China ETF 37.6 59 -23 7.7 -0.2
NUEM Nuveen ESG Emerging Markets Equity ETF 37.4 45 -9 6.9 -1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 37.2 95 -59 9.0 +1.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 34.6 40 -4 7.1 -0.9
ISEM Invesco Strategic Emerging Markets ETF 34.3 35 1 10.2 +2.2
CN Xtrackers MSCI All China Equity ETF 34.3 50 -14 7.8 -0.1
KALL KraneShares FTSE Emerging Markets Plus ETF 33.8 49 -13 7.8 -0.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 31.0 44 -8 8.8 +0.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 30.8 32 4 8.8 +0.9
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 28.9 25 11 7.7 -0.3
AIA iShares Asia 50 ETF 28.4 50 -14 7.8 -0.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 28.2 16 20 6.8 -1.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 28.0 45 -9 9.4 +1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 27.9 29 7 6.2 -1.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 27.7 64 -28 4.5 -3.5
CHIL Global X MSCI China Large-Cap 50 ETF 27.5 29 7 8.1 +0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 26.9 40 -4 7.0 -1.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 25.7 50 -14 10.2 +2.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 25.7 32 4 5.8 -2.2
ACWX iShares MSCI ACWI ex U.S. ETF 24.8 32 4 7.2 -0.8
IXUS ishares Core MSCI Total International Stock ETF 24.0 9 27 7.3 -0.6
VYMI Vanguard International High Dividend Yield ETF 23.5 32 4 10.1 +2.2
VSGX Vanguard ESG International Stock ETF 23.4 17 19 7.1 -0.9
ROAM Hartford Multifactor Emerging Markets ETF 23.3 44 -8 14.5 +6.6
RNEM Emerging Markets Equity Select ETF 22.9 75 -39 11.6 +3.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 22.8 45 -9 8.6 +0.7
XCEM Columbia EM Core ex-China ETF 22.5 16 20 7.2 -0.8
VXUS Vanguard Total International Stock Index Fund 22.4 8 28 7.5 -0.5
EMMF WisdomTree Emerging Markets Multifactor Fund 22.2 48 -12 9.2 +1.3
VEU Vanguard FTSE All-World ex-US Index Fund 22.1 8 28 7.5 -0.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.0 86 -50 2.0 -6.0
FDNI First Trust Dow Jones International Internet ETF 20.8 65 -29 2.1 -5.9
ECON Columbia Emerging Markets Consumer ETF 20.6 59 -23 4.4 -3.6
KWEB KraneShares CSI China Internet ETF 19.7 76 -40 1.7 -6.3
BICK First Trust BICK Index Fund 19.1 64 -28 4.4 -3.5
CWI SPDR MSCI ACWI ex-US ETF 19.0 30 6 7.1 -0.8
TTTN UP Fintech China-U.S. Internet Titans ETF 18.1 59 -23 4.0 -3.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 17.5 29 7 9.9 +1.9
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 17.4 45 -9 13.0 +5.1
PIE Invesco DWA Emerging Markets Momentum ETF 16.2 90 -54 4.5 -3.5
FXI iShares China Large-Cap ETF 16.1 74 -38 13.0 +5.0
OGIG O'Shares Global Internet Giants ETF 14.7 48 -12 0.6 -7.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 14.0 20 16 11.1 +3.2
VIGI Vanguard International Dividend Appreciation ETF 13.8 25 11 5.6 -2.4
EWT iShares MSCI Taiwan ETF 13.2 59 -23 5.5 -2.4
FLTW Franklin FTSE Taiwan ETF 13.0 19 17 6.0 -2.0
WUGI Esoterica NextG Economy ETF 12.9 75 -39 1.6 -6.3
CHIQ Global X China Consumer ETF 12.5 65 -29 6.7 -1.2
PGJ Invesco Golden Dragon China ETF 12.4 70 -34 3.1 -4.9
FRDM Freedom 100 Emerging Markets ETF 12.3 49 -13 6.5 -1.4
FNI First Trust Chindia ETF 12.3 60 -24 2.6 -5.4
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 12.2 18 18 5.3 -2.7
DEM WisdomTree Emerging Markets High Dividend Fund 12.0 63 -27 14.1 +6.2
DINT Davis Select International ETF 11.6 68 -32 5.6 -2.3
AIQ Global X Future Analytics Tech ETF 11.4 68 -32 3.7 -4.3
GBUY Goldman Sachs Motif New Age Consumer ETF 11.3 50 -14 1.7 -6.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 11.0 20 16 5.9 -2.0
VPL Vanguard FTSE Pacific ETF 10.8 8 28 7.7 -0.3
PNQI Invesco NASDAQ Internet ETF 10.8 62 -26 1.0 -7.0
EMFM Global X MSCI Next Emerging & Frontier ETF 10.7 66 -30 9.1 +1.2
FLKR Franklin FTSE South Korea ETF 10.7 9 27 8.7 +0.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 10.6 80 -44 3.7 -4.2
LOWC SPDR MSCI ACWI Low Carbon Target ETF 10.6 20 16 5.9 -2.0
ACWI iShares MSCI ACWI ETF 10.6 32 4 5.7 -2.2
EWY iShares MSCI South Korea ETF 10.5 59 -23 8.3 +0.4
EDIV SPDR S&P Emerging Markets Dividend ETF 10.5 49 -13 11.1 +3.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.5 60 -24 8.7 +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

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
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 MarketBeta Emerging Markets Equity ETF
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 12.5 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 36 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 CATEGORY
AVERAGE
1.45
 
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.