Goldman Sachs Equal Weight U.S. Large Cap Equity
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.6x P/Sales
ratio
1.9x
P/BV
ratio
2.9x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Goldman Sachs Equal Weight U.S. Large Cap Equity ETF tracks an equal-weighted index of US large-cap stocks.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Sep 12, 2017
Assets (mns) $235
Currency USD
Expense ratio 9 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 493
Wgt avg mkt cap (mns) $61,306
Large cap (>$10bn) 94.8%
Mid cap ($2-10bn) 5.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TESLA MOTORS INC 0.3 %
TWILIO, INC. CLASS A 0.2 %
LENNAR CORP-CL A 0.2 %
APACHE CORP 0.2 %
TRANSDIGM GROUP INC 0.2 %
RINGCENTRAL, INC. CLASS A 0.2 %
ARISTA NETWORKS, INC. 0.2 %
SNAP, INC. CLASS A 0.2 %
CITRIX SYSTEMS INC 0.2 %
INTEL CORP 0.2 %
Total 2.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.0 %
IRELAND 1.6 %
BRITAIN 1.0 %
BERMUDA 0.6 %
SWITZERLAND 0.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
31.0% 31.0% -- -- 11.5%

Market Correlations
versus... Beta R-squared
S&P500 1.03 96%
MSCI EAFE 1.03 75%
MSCI Emg. Mkts. 0.69 57%

Technical Indicators
Recent close $51.64
30d moving avg. $50.93
Annualized volatility 14.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 44
Turnover 1.0%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $146,166

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Goldman Sachs Equal Weight U.S. Large Cap Equity ETF based on the alternatives' overlap in portfolio holdings with GSEW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSEW Expense: 9 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSEW
Ticker Fund
Name
Overlap1
vs GSEW
(%)
Expense
ratio
(bp)
Savings
vs GSEW
(bp)
ALTAR
Score™
(%)
ALTAR
vs GSEW
(%)
RSP Invesco S&P 500 Equal Weight 85.7 20 -11 6.4 +0.7
EUSA iShares MSCI USA Equal Weight 78.0 15 -6 5.9 +0.1
SIZE iShares MSCI USA Size Factor 77.2 15 -6 5.9 +0.1
RNLC Large Cap US Equity Select 66.3 60 -51 6.0 +0.3
CFA Compass EMP US 500 Volatility Weighted 66.2 35 -26 5.8 +0.0
CFO Victory CEMP US 500 Enhanced Volatility Wtd 66.0 35 -26 5.8 +0.1
JHML John Hancock Multifactor Large Cap 64.4 34 -25 5.6 -0.1
SCIU Global X Scientific Beta US 62.0 19 -10 5.5 -0.2
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 60.9 9 0 5.8 +0.0
FEX First Trust Large Cap Core Alphadex 60.6 61 -52 6.1 +0.3
USEQ Invesco Russell 1000 Enhanced Equal Weight 56.0 29 -20 6.4 +0.6
RVRS Reverse Cap Weighted US Large Cap 55.2 29 -20 7.3 +1.6
IWR iShares Russell Midcap 53.0 19 -10 5.5 -0.2
PBUS Invesco PureBeta MSCI USA 52.3 4 5 5.6 -0.1
BBUS JP Morgan Betabuilders U.S. Equity 52.2 2 7 5.5 -0.2
VV Vanguard Large-Cap ETF 52.0 4 5 5.5 -0.2
JPUS JPMorgan Diversified Return U.S. Equity 51.9 19 -10 6.0 +0.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core 51.8 17 -8 6.7 +0.9
SCHX Schwab U.S. Large-Cap 51.7 3 6 5.5 -0.3
DEUS Xtrackers Russell 1000 Comprehensive Factor 51.5 17 -8 6.5 +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%.

Content on this tab for subscribers only**

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 Equal Weight U.S. Large Cap Equity
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 15.2 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 9 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.55
 
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.