Goldman Sachs ActiveBeta Japan Equity ETF
ALTAR
Score™
6.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.9x P/Sales
ratio
0.9x
P/BV
ratio
1.5x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Goldman Sachs ActiveBeta Japan Equity ETF tracks an index of Japanese large- and midcap equities, with equal weights to each of 4 factor buckets and stocks within each bucket weighted by a factor score.

FUND BASICS
Category International Equities
Fund Sponsor Goldman Sachs
Website assetmanagement.gs.com
Inception date Mar 02, 2016
Assets (mns) $23
Currency USD
Expense ratio 25 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 293
Wgt avg mkt cap (mns) $43,468
Large cap (>$10bn) 73.6%
Mid cap ($2-10bn) 26.0%
Small cap (<$2bn) 0.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 3.1 %
SONY CORP 2.8 %
SOFTBANK GROUP CORP. 2.6 %
KEYENCE CORP 2.0 %
NINTENDO CO LTD 1.6 %
TOKYO ELECTRON LTD 1.5 %
DAIICHI SANKYO CO LTD 1.4 %
KDDI CORPORATION 1.2 %
MURATA MANUFACTURING CO LTD 1.2 %
HONDA MOTOR CO LTD 1.2 %
Total 18.6 %

TOP COUNTRY EXPOSURE
JAPAN 99.9 %










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.
13.8% 13.8% -- -- 9.7%

Market Correlations
versus... Beta R-squared
S&P500 0.65 68%
MSCI EAFE 0.70 78%
MSCI Emg. Mkts. 0.50 50%

Technical Indicators
Recent close $38.23
30d moving avg. $37.30
Annualized volatility 14.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $22,613

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the Goldman Sachs ActiveBeta Japan Equity ETF ETF based on the alternatives' overlap in portfolio holdings with GSJY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSJY Expense: 25 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSJY
Ticker Fund
Name
Overlap1
vs GSJY
(%)
Expense
ratio
(bp)
Savings
vs GSJY
(bp)
ALTAR
Score™
(%)
ALTAR
vs GSJY
(%)
EWJ iShares MSCI Japan ETF 81.1 51 -26 6.1 -0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 79.9 45 -20 6.1 -0.2
BBJP JPMorgan BetaBuilders Japan ETF 78.9 19 6 6.4 +0.2
ZJPN SPDR Solactive Japan ETF 78.8 14 11 6.5 +0.3
FLJP Franklin FTSE Japan ETF 77.4 9 16 6.6 +0.4
FLJH Franklin FTSE Japan Hedged ETF 76.9 9 16 6.5 +0.3
JPXN iShares JPX-Nikkei 400 ETF 73.4 48 -23 6.2 +0.0
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 73.0 9 16 6.6 +0.4
EWJE iShares MSCI Japan Equal Weighted ETF 61.4 15 10 6.4 +0.2
IPAC iShares Core MSCI Pacific ETF 55.5 9 16 6.3 +0.1
DXJ WisdomTree Japan Hedged Equity Fund 53.4 48 -23 7.4 +1.2
DFAI Dimensional International Core Equity Market ETF 51.7 18 7 6.4 +0.2
EWJV iShares MSCI Japan Value ETF 47.2 15 10 8.9 +2.7
VPL Vanguard FTSE Pacific ETF 46.3 8 17 6.4 +0.2
FJP First Trust Japan AlphaDEX Fund 34.3 80 -55 8.0 +1.8
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 32.7 35 -10 5.9 -0.3
DMXF iShares ESG Advanced MSCI EAFE ETF 32.0 12 13 6.2 -0.0
IVLU iShares Edge MSCI Intl Value Factor ETF 30.8 30 -5 9.9 +3.7
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 29.5 83 -58 5.0 -1.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 28.6 29 -4 7.1 +0.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 28.6 30 -5 4.1 -2.1
ISZE iShares Edge MSCI Intl Size Factor ETF 27.1 30 -5 6.3 +0.0
EFG iShares MSCI EAFE Growth ETF 26.4 40 -15 4.1 -2.2
RESD WisdomTree International ESG Fund 26.3 30 -5 6.5 +0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 25.9 14 11 6.1 -0.1
IDMO Invesco S&P International Developed Momentum ETF 25.7 26 -1 3.7 -2.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 25.5 20 5 6.4 +0.2
RBIN Nationwide Risk-Based International Equity ETF 25.5 42 -17 6.0 -0.2
GSID Goldman Sachs MarketBeta International Equity ETF 25.3 20 5 6.3 +0.1
EFA iShares MSCI EAFE ETF 24.9 32 -7 6.2 +0.0
QEFA SPDR MSCI EAFE Quality Mix ETF 24.7 30 -5 6.0 -0.3
IQSI IQ Candriam ESG International Equity ETF 24.5 15 10 6.4 +0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 24.4 35 -10 6.1 -0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 24.4 20 5 6.4 +0.2
JHMD John Hancock Multifactor Developed International ETF 24.3 39 -14 6.6 +0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 24.2 20 5 6.2 -0.1
BKIE BNY Mellon International Equity ETF 23.9 4 21 6.5 +0.3
IQIN IQ 500 International ETF 23.2 25 0 7.6 +1.4
EFV iShares MSCI EAFE Value ETF 23.0 39 -14 8.4 +2.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 22.6 7 18 6.5 +0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 22.0 35 -10 7.7 +1.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 21.9 25 0 6.0 -0.2
IDLV Invesco S&P International Developed Low Volatility ETF 21.7 25 0 6.2 +0.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 21.5 39 -14 5.6 -0.7
IEFA iShares Core MSCI EAFE ETF 21.3 7 18 6.5 +0.3
PDEV Principal International Multi-Factor Core Index ETF 21.3 25 0 7.1 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 21.1 40 -15 7.2 +1.0
IDHQ Invesco S&P International Developed Quality ETF 21.1 29 -4 4.8 -1.5
SCHF Schwab International Equity ETF 20.7 6 19 6.5 +0.3
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 20.5 24 1 6.5 +0.3
VSGX Vanguard ESG International Stock ETF 20.4 17 8 6.3 +0.1
FNDF Schwab Fundamental International Large Co. Index ETF 20.2 25 0 7.7 +1.5
DWMF WisdomTree International Multifactor Fund 20.2 38 -13 6.2 +0.0
SPDW SPDR Portfolio Developed World ex-US ETF 20.1 4 21 6.2 0.0
QINT American Century Quality Diversified International ETF 19.9 39 -14 5.7 -0.6
DWM WisdomTree International Equity Fund 19.7 48 -23 7.2 +1.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 19.7 20 5 5.0 -1.2
CIL VictoryShares International Volatility Weighted Index ETF 19.6 45 -20 6.4 +0.1
TPIF Timothy Plan International ETF 19.6 62 -37 6.1 -0.2
DOL WisdomTree International LargeCap Dividend Fund 19.6 48 -23 7.2 +0.9
JPIN JPMorgan Diversified Return International Equity ETF 19.5 37 -12 7.1 +0.8
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 19.4 45 -20 6.3 +0.1
IDEV iShares Core MSCI International Developed Markets ETF 18.6 5 20 6.5 +0.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 18.3 45 -20 7.6 +1.4
VEA Vanguard FTSE Developed Markets ETF 18.3 5 20 6.6 +0.3
ESGN Columbia Sustainable International Equity Income ETF 17.9 45 -20 9.2 +2.9
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 17.7 32 -7 5.7 -0.5
IDLB Invesco FTSE International Low Beta Equal Weight ETF 17.4 45 -20 6.1 -0.1
NUDM Nuveen ESG International Developed Markets Equity ETF 16.6 40 -15 5.9 -0.3
ISDX Invesco RAFI Strategic Developed ex-US ETF 16.5 23 2 6.3 +0.1
FIVA Fidelity International Value Factor ETF 16.3 39 -14 8.7 +2.5
DIM WisdomTree International MidCap Dividend Fund 16.0 58 -33 7.1 +0.9
IQLT iShares Edge MSCI Intl Quality Factor ETF 16.0 30 -5 5.2 -1.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 15.9 16 9 6.0 -0.3
CWI SPDR MSCI ACWI ex-US ETF 15.5 30 -5 6.2 -0.1
ACWX iShares MSCI ACWI ex U.S. ETF 15.5 32 -7 6.3 +0.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 15.1 40 -15 6.1 -0.2
VWID Virtus WMC International Dividend ETF 15.1 49 -24 7.4 +1.2
VEU Vanguard FTSE All-World ex-US Index Fund 15.1 8 17 6.7 +0.4
KLDW Gavekal Knowledge Leaders Developed World ETF 14.8 75 -50 4.4 -1.9
DOO WisdomTree International Dividend ex-Financials Fund 14.5 58 -33 7.7 +1.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 14.4 39 -14 7.4 +1.2
FDT First Trust Developed Markets ex-US Alphadex Fund 14.3 80 -55 7.6 +1.4
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 14.2 80 -55 6.0 -0.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 14.0 29 -4 7.3 +1.1
IQDG WisdomTree International Quality Dividend Growth Fund 14.0 42 -17 6.0 -0.3
DTH WisdomTree International High Dividend Fund 13.9 58 -33 8.7 +2.5
AVDE Avantis International Equity ETF 13.9 23 2 6.9 +0.7
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 13.6 58 -33 5.8 -0.5
FDEV Fidelity Targeted International Factor ETF 13.5 39 -14 6.2 -0.1
IXUS ishares Core MSCI Total International Stock ETF 13.2 9 16 6.4 +0.2
ICOW Pacer Developed Markets International Cash Cows 100 ETF 12.6 65 -40 10.1 +3.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 12.6 47 -22 8.1 +1.9
INTF iShares Edge MSCI Multifactor Intl ETF 12.4 30 -5 7.2 +1.0
VIGI Vanguard International Dividend Appreciation ETF 12.3 20 5 5.0 -1.2
VYMI Vanguard International High Dividend Yield ETF 12.3 27 -2 9.0 +2.8

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 ActiveBeta Japan 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 9.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.