Goldman Sachs MarketBeta International Equity ETF
ALTAR
Score™		 7.3% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 21.5x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x Div.
yield		 2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GSID tracks an index of developed markets ex-US equities, selected and weighted by market capitalization.

FUND BASICS
Category International Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date May 12, 2020
Assets (mns) $278
Currency USD
Expense ratio 20 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 982
Wgt avg mkt cap (mns) $65,276
Large cap (>$10bn) 84.5%
Mid cap ($2-10bn) 14.6%
Small cap (<$2bn) 0.3%
Developed mkts 99.5%
Emerging mkts 0.4%

TOP TEN HOLDINGS
NESTLE SA-REG 2.4 %
ROCHE HOLDING AG-GENUSSCHEIN 1.7 %
NOVARTIS AG-REG 1.4 %
ASML HOLDING NV 1.1 %
SAP AG 1.1 %
TOYOTA MOTOR CORP 1.1 %
LVMH MOET HENNESSY LOUIS VUI 1.0 %
ASTRAZENECA PLC 0.9 %
AIA GROUP LTD 0.9 %
NOVO NORDISK A/S-B 0.8 %
Total 12.4 %

TOP COUNTRY EXPOSURE
JAPAN 26.4 %
BRITAIN 13.0 %
SWITZERLAND 9.5 %
FRANCE 8.7 %
GERMANY 8.4 %
AUSTRALIA 6.8 %
NETHERLANDS 4.7 %
SWEDEN 3.6 %
HONG KONG 3.5 %
DENMARK 2.3 %

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.
4.5% -- -- -- 4.5%

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

Technical Indicators
Recent close $46.38
30d moving avg. $46.18
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.3%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $47,438

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Goldman Sachs MarketBeta International Equity ETF ETF based on the alternatives' overlap in portfolio holdings with GSID. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSID Expense: 20 bp ALTAR Score™: 7.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSID
Ticker Fund
Name		 Overlap1
vs GSID
(%)		 Expense
ratio
(bp)		 Savings
vs GSID
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GSID
(%)
EFA iShares MSCI EAFE ETF 91.9 32 -12 7.0 -0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 90.7 35 -15 6.9 -0.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 86.6 20 0 7.0 -0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 85.4 20 0 7.4 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 85.0 7 13 7.5 +0.2
BKIE BNY Mellon International Equity ETF 83.1 4 16 7.4 +0.1
IEFA iShares Core MSCI EAFE ETF 81.8 7 13 7.2 -0.1
SCHF Schwab International Equity ETF 79.0 6 14 7.2 -0.1
IDEV iShares Core MSCI International Developed Markets ETF 73.5 5 15 7.1 -0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 72.5 20 0 6.9 -0.4
JHMD John Hancock Multifactor Developed International ETF 71.3 39 -19 7.3 -0.0
IQSI IQ Candriam ESG International Equity ETF 71.1 15 5 7.4 +0.1
SPDW SPDR Portfolio Developed World ex-US ETF 70.1 4 16 7.0 -0.3
VEA Vanguard FTSE Developed Markets ETF 69.8 5 15 7.3 +0.0
QEFA SPDR MSCI EAFE Quality Mix ETF 65.3 30 -10 6.8 -0.5
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 64.8 35 -15 6.8 -0.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 62.4 45 -25 8.8 +1.6
ACWX iShares MSCI ACWI ex U.S. ETF 60.0 32 -12 7.2 -0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 59.9 25 -5 6.6 -0.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 59.9 35 -15 8.7 +1.4
DWM WisdomTree International Equity Fund 59.8 48 -28 8.4 +1.1
FNDF Schwab Fundamental International Large Co. Index ETF 59.4 25 -5 8.7 +1.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 59.3 40 -20 7.0 -0.3
CWI SPDR MSCI ACWI ex-US ETF 58.7 30 -10 7.1 -0.2
FLEH Franklin FTSE Europe Hedged ETF 57.9 9 11 7.2 -0.1
FLEE Franklin FTSE Europe ETF 57.9 9 11 7.0 -0.3
FEU SPDR Portfolio Europe ETF 57.8 9 11 7.4 +0.1
IEUR iShares Core MSCI Europe ETF 57.7 9 11 7.3 -0.0
BBEU JPMorgan BetaBuilders Europe ETF 57.6 9 11 7.3 +0.1
VGK Vanguard FTSE Europe ETF 57.6 8 12 7.4 +0.1
VEU Vanguard FTSE All-World ex-US Index Fund 57.3 8 12 7.4 +0.2
VSGX Vanguard ESG International Stock ETF 56.8 17 3 7.0 -0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 56.8 45 -25 6.7 -0.6
PDEV Principal International Multi-Factor Core Index ETF 56.5 25 -5 7.9 +0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 55.9 39 -19 6.5 -0.8
IEV iShares Europe ETF 55.3 59 -39 6.9 -0.4
DOL WisdomTree International LargeCap Dividend Fund 54.5 48 -28 8.8 +1.5
IXUS ishares Core MSCI Total International Stock ETF 52.9 9 11 7.3 -0.0
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 50.8 39 -19 8.3 +1.0
EFG iShares MSCI EAFE Growth ETF 50.7 40 -20 4.5 -2.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 50.6 25 -5 6.4 -0.9
EFV iShares MSCI EAFE Value ETF 49.7 39 -19 9.7 +2.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 48.5 16 4 6.8 -0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 48.4 14 6 6.9 -0.4
VXUS Vanguard Total International Stock Index Fund 48.0 8 12 7.4 +0.2
ISDX Invesco Strategic Developed ex-US ETF 47.8 23 -3 7.3 +0.1
DMXF iShares ESG Advanced MSCI EAFE ETF 47.7 12 8 6.9 -0.4
ISZE iShares Edge MSCI Intl Size Factor ETF 47.7 30 -10 7.2 -0.1
CIL VictoryShares International Volatility Weighted Index ETF 47.5 45 -25 6.9 -0.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 47.3 45 -25 6.9 -0.4
IQIN IQ 500 International ETF 45.9 25 -5 8.6 +1.3
IDY Pacific Global International Equity Income ETF 45.4 39 -19 8.2 +0.9
AVDE Avantis International Equity ETF 45.4 23 -3 7.6 +0.3
RESD WisdomTree International ESG Fund 41.5 30 -10 6.8 -0.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 38.9 29 -9 7.8 +0.5
VPL Vanguard FTSE Pacific ETF 37.6 8 12 7.3 +0.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 37.4 30 -10 6.0 -1.3
IPAC iShares Core MSCI Pacific ETF 37.1 9 11 7.1 -0.2
VYMI Vanguard International High Dividend Yield ETF 36.6 27 -7 10.0 +2.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 36.4 30 -10 4.4 -2.9
RNDM Developed International Equity Select ETF 35.8 65 -45 6.2 -1.1
TPIF Timothy Plan International ETF 35.8 62 -42 6.3 -1.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 34.4 24 -4 6.9 -0.4
RBIN Nationwide Risk-Based International Equity ETF 33.4 42 -22 6.0 -1.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 32.2 20 0 5.4 -1.9
ESGG FlexShares STOXX Global ESG Impact Index Fund 31.4 42 -22 5.1 -2.2
QWLD SPDR MSCI World StrategicFactors ETF 30.7 30 -10 6.0 -1.3
SCID Global X Scientific Beta Europe ETF 30.4 39 -19 0.0 -7.3
VGFO Virtus WMC Global Factor Opportunities ETF 30.0 49 -29 8.1 +0.8
NUDM Nuveen ESG International Developed Markets Equity ETF 29.6 40 -20 6.8 -0.5
JPIN JPMorgan Diversified Return International Equity ETF 29.6 37 -17 7.8 +0.5
IVLU iShares Edge MSCI Intl Value Factor ETF 29.3 30 -10 11.6 +4.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.1 45 -25 6.5 -0.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 29.1 45 -25 6.8 -0.5
QINT American Century Quality Diversified International ETF 28.9 39 -19 6.1 -1.2
URTH iShares MSCI World ETF 28.6 24 -4 5.4 -1.9
EZU iShares MSCI Eurozone ETF 28.5 49 -29 6.6 -0.7
EURZ Xtrackers Eurozone Equity ETF 28.3 9 11 7.0 -0.3
FDEV Fidelity Targeted International Factor ETF 28.1 39 -19 6.5 -0.8
IDHQ Invesco S&P International Developed Quality ETF 28.1 29 -9 5.1 -2.2
IGRO iShares International Dividend Growth ETF 27.6 22 -2 8.3 +1.0
DTH WisdomTree DEFA Equity Income Fund 27.2 58 -38 10.0 +2.7
RODM Hartford Multifactor Developed Markets (ex-US) ETF 26.2 29 -9 7.7 +0.4
FLJP Franklin FTSE Japan ETF 26.1 9 11 7.4 +0.1
FLJH Franklin FTSE Japan Hedged ETF 26.1 9 11 7.3 -0.0
BBJP JPMorgan BetaBuilders Japan ETF 26.1 19 1 7.2 -0.1
OEUR O'shares FTSE Europe Quality Dividend ETF 26.0 48 -28 6.9 -0.4
FIVA Fidelity International Value Factor ETF 26.0 39 -19 10.0 +2.7
EWJ iShares MSCI Japan ETF 25.9 49 -29 6.9 -0.4
DBJP Xtrackers MSCI Japan Hedged Equity ETF 25.9 45 -25 7.0 -0.3
QJPN SPDR MSCI Japan StrategicFactors ETF 25.7 14 6 7.5 +0.2
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 25.6 25 -5 7.1 -0.2
RFDI First Trust Riverfront Dynamic Developed International ETF 25.4 83 -63 5.7 -1.6
ACWI iShares MSCI ACWI ETF 25.3 32 -12 5.6 -1.7
LOWC SPDR MSCI ACWI Low Carbon Target ETF 24.8 20 0 5.8 -1.4
IDMO Invesco S&P International Developed Momentum ETF 24.7 26 -6 4.0 -3.3
IOO iShares Global 100 ETF 24.7 40 -20 4.6 -2.6
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.7 35 -15 8.6 +1.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 24.6 20 0 5.8 -1.4

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 International 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 10.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 7.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.57 CATEGORY
AVERAGE		 1.57
 
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.