Goldman Sachs MarketBeta Emerging Markets Equity ETF
ALTAR
Score™
7.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
17.7x P/Sales
ratio
1.3x
P/BV
ratio
1.8x Div.
yield
2.4%


  • 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 1253
Wgt avg mkt cap (mns) $172,137
Large cap (>$10bn) 74.2%
Mid cap ($2-10bn) 20.9%
Small cap (<$2bn) 1.8%
Developed mkts 7.7%
Emerging mkts 89.0%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.0 %
TENCENT HOLDINGS LTD 6.7 %
TAIWAN SEMICONDUCTOR MANUFAC 6.1 %
SAMSUNG ELECTRONICS CO LTD 4.0 %
RELIANCE INDUSTRIES LTD 1.4 %
MEITUAN DIANPING 1.2 %
NASPERS LTD-N SHS 1.2 %
JD.COM INC-ADR 1.2 %
ISHARES MSCI MALAYSIA ETF 1.2 %
CHINA CONSTRUCTION BANK-H 1.1 %
Total 33.2 %

TOP COUNTRY EXPOSURE
CHINA 37.6 %
TAIWAN 13.4 %
SOUTH KOREA 11.5 %
INDIA 8.2 %
BRAZIL 5.3 %
SOUTH AFRICA 3.3 %
SAUDI ARABIA 3.0 %
HONG KONG 2.6 %
RUSSIA 2.5 %
MEXICO 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.8% -- -- -- 9.8%

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

Technical Indicators
Recent close $49.18
30d moving avg. $47.99
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.52%
ADV underlying (mns) $66,958

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 7.2%


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 86.1 68 -32 7.3 +0.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 83.8 65 -29 7.4 +0.2
IEMG iShares Core MSCI Emerging Markets ETF 79.3 13 23 7.8 +0.6
SCHE Schwab Emerging Markets Equity ETF 78.8 11 25 7.8 +0.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 73.9 68 -32 6.9 -0.3
FLAX Franklin FTSE Asia Ex Japan ETF 73.3 19 17 7.6 +0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 71.2 30 6 7.6 +0.4
EEMA iShares MSCI Emerging Markets Asia ETF 71.1 50 -14 7.6 +0.4
VWO Vanguard FTSE Emerging Markets ETF 70.0 10 26 7.9 +0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 67.8 15 21 8.3 +1.1
JHEM John Hancock Multifactor Emerging Markets ETF 66.2 49 -13 8.6 +1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 65.0 45 -9 7.4 +0.2
BKEM BNY Mellon Emerging Markets Equity ETF 62.7 11 25 8.2 +1.0
ESGE iShares ESG MSCI EM ETF 62.0 25 11 8.4 +1.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 59.1 32 4 5.6 -1.6
SPEM SPDR Portfolio Emerging Markets ETF 58.8 11 25 7.7 +0.5
BKF iShares MSCI BRIC ETF 53.6 69 -33 7.3 +0.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 52.6 20 16 6.6 -0.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 52.0 59 -23 10.9 +3.7
GMF SPDR S&P Emerging Asia Pacific ETF 50.3 49 -13 7.0 -0.2
DVEM WisdomTree Emerging Markets Dividend Fund 48.0 32 4 7.2 -0.0
PXH Invesco FTSE RAFI Emerging Markets ETF 47.4 50 -14 13.1 +5.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 46.8 30 6 8.7 +1.5
EMXC iShares MSCI Emerging Markets ex China ETF 44.6 25 11 8.0 +0.8
AVEM Avantis Emerging Markets Equity ETF 42.7 33 3 8.7 +1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 42.3 29 7 4.0 -3.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 41.2 49 -13 7.6 +0.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 41.0 49 -13 7.9 +0.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 40.5 40 -4 7.2 0.0
NUEM Nuveen ESG Emerging Markets Equity ETF 40.1 45 -9 6.7 -0.5
MCHI iShares MSCI China ETF 39.6 59 -23 7.6 +0.4
FLCH Franklin FTSE China ETF 39.4 19 17 8.1 +0.9
GXC SPDR S&P China ETF 39.3 59 -23 7.7 +0.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 38.8 95 -59 8.0 +0.8
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 38.4 39 -3 13.2 +6.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 35.3 45 -9 8.4 +1.2
KALL KraneShares FTSE Emerging Markets Plus ETF 35.3 49 -13 7.9 +0.7
CN Xtrackers MSCI All China Equity ETF 35.3 50 -14 7.9 +0.7
ISEM Invesco Strategic Emerging Markets ETF 34.8 35 1 10.6 +3.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 31.0 44 -8 9.0 +1.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 30.9 32 4 8.9 +1.7
AIA iShares Asia 50 ETF 29.2 50 -14 7.7 +0.5
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 29.2 25 11 7.9 +0.7
CHIL Global X MSCI China Large-Cap 50 ETF 29.0 29 7 7.5 +0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 28.4 16 20 6.8 -0.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 27.7 32 4 11.4 +4.2
VSGX Vanguard ESG International Stock ETF 27.3 17 19 7.0 -0.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 27.2 40 -4 7.0 -0.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 27.1 50 -14 10.3 +3.1
EMMF WisdomTree Emerging Markets Multifactor Fund 25.5 48 -12 9.5 +2.3
VYMI Vanguard International High Dividend Yield ETF 25.0 27 9 10.0 +2.8
ACWX iShares MSCI ACWI ex U.S. ETF 25.0 32 4 7.2 -0.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 24.2 45 -9 9.1 +1.9
IXUS ishares Core MSCI Total International Stock ETF 24.1 9 27 7.3 +0.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 23.4 86 -50 2.1 -5.1
ROAM Hartford Multifactor Emerging Markets ETF 22.8 44 -8 12.9 +5.7
VEU Vanguard FTSE All-World ex-US Index Fund 22.5 8 28 7.4 +0.2
FDNI First Trust Dow Jones International Internet ETF 22.4 65 -29 2.0 -5.2
RNEM Emerging Markets Equity Select ETF 22.0 75 -39 11.6 +4.4
XCEM Columbia EM Core ex-China ETF 21.9 16 20 7.0 -0.2
VXUS Vanguard Total International Stock Index Fund 21.3 8 28 7.4 +0.2
KWEB KraneShares CSI China Internet ETF 21.2 76 -40 2.0 -5.2
ECON Columbia Emerging Markets Consumer ETF 20.8 59 -23 4.9 -2.3
TTTN UP Fintech China-U.S. Internet Titans ETF 19.3 59 -23 4.2 -3.0
BICK First Trust BICK Index Fund 19.2 64 -28 4.6 -2.6
CWI SPDR MSCI ACWI ex-US ETF 18.9 30 6 7.1 -0.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 17.0 45 -9 14.2 +7.0
FXI iShares China Large-Cap ETF 16.7 74 -38 13.0 +5.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.3 29 7 9.9 +2.7
PIE Invesco DWA Emerging Markets Momentum ETF 14.8 90 -54 4.9 -2.3
CHIQ Global X China Consumer ETF 14.4 65 -29 6.7 -0.5
VIGI Vanguard International Dividend Appreciation ETF 14.2 20 16 5.5 -1.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 14.1 60 -24 4.0 -3.3
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 13.6 18 18 4.8 -2.4
OGIG O'Shares Global Internet Giants ETF 13.6 48 -12 0.5 -6.7
PGJ Invesco Golden Dragon China ETF 13.1 70 -34 3.3 -3.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 13.1 20 16 11.5 +4.3
EWT iShares MSCI Taiwan ETF 13.0 59 -23 6.0 -1.2
FLTW Franklin FTSE Taiwan ETF 13.0 19 17 6.2 -1.1
FNI First Trust Chindia ETF 12.9 60 -24 2.4 -4.8
DINT Davis Select International ETF 12.8 68 -32 5.7 -1.5
FRDM Freedom 100 Emerging Markets ETF 12.1 49 -13 6.5 -0.7
WUGI Esoterica NextG Economy ETF 12.0 75 -39 1.5 -5.7
PNQI Invesco NASDAQ Internet ETF 11.8 60 -24 0.9 -6.3
AIQ Global X Future Analytics Tech ETF 11.8 68 -32 3.9 -3.3
GBUY Goldman Sachs Motif New Age Consumer ETF 11.6 50 -14 1.7 -5.5
FLKR Franklin FTSE South Korea ETF 11.3 9 27 8.6 +1.4
EWY iShares MSCI South Korea ETF 11.1 59 -23 8.2 +1.0
DWLD Davis Select Worldwide ETF 11.0 63 -27 6.2 -1.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 10.9 20 16 5.8 -1.4
DEM WisdomTree Emerging Markets High Dividend Fund 10.9 63 -27 14.8 +7.6
JOYY Infusive Compounding Global Equities ETF 10.7 50 -14 3.6 -3.6
BUYZ Franklin Disruptive Commerce ETF 10.6 50 -14 -0.2 -7.4
ACWI iShares MSCI ACWI ETF 10.6 32 4 5.6 -1.6
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 10.5 60 -24 4.4 -2.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 10.5 20 16 5.8 -1.4
EMFM Global X MSCI Next Emerging & Frontier ETF 10.4 66 -30 8.9 +1.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.4 61 -25 8.9 +1.7

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:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.5 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 36 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 CATEGORY
AVERAGE
1.43
 
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.