Goldman Sachs Activebeta U.S. Small Cap Equity ETF
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
28.7x P/Sales
ratio
1.2x
P/BV
ratio
2.1x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF tracks an index of US small-cap stocks. The index equally weights four factor-based subindexes: value, momentum, quality, and low volatility.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Jun 28, 2017
Assets (mns) $218
Currency USD
Expense ratio 20 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1452
Wgt avg mkt cap (mns) $2,315
Large cap (>$10bn) 0.5%
Mid cap ($2-10bn) 48.7%
Small cap (<$2bn) 49.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DECKERS OUTDOOR CORP 0.4 %
IRHYTHM TECHNOLOGIES, INC. 0.4 %
BUILDERS FIRSTSOURCE INC 0.3 %
SITEONE LANDSCAPE SUPPLY, INC. 0.3 %
RH 0.3 %
LATTICE SEMICONDUCTOR CORP 0.3 %
BMC STOCK HOLDINGS, INC. 0.3 %
PENN NATIONAL GAMING INC 0.3 %
CORCEPT THERAPEUTICS INC 0.3 %
DARLING INTERNATIONAL INC 0.3 %
Total 3.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BERMUDA 1.1 %
CANADA 0.4 %
IRELAND 0.3 %
BRITAIN 0.3 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.2 %
LUXEMBOURG 0.1 %
ISRAEL 0.1 %
GERMANY 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
7.9% 9.8% -- -- 8.1%

Market Correlations
versus... Beta R-squared
S&P500 0.99 79%
MSCI EAFE 0.98 76%
MSCI Emg. Mkts. 0.75 55%

Technical Indicators
Recent close $50.60
30d moving avg. $47.45
Annualized volatility 20.9%
Short interest (ETF) 0.6%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 41
Turnover 1.0%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $27,857

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Goldman Sachs Activebeta U.S. Small Cap Equity ETF ETF based on the alternatives' overlap in portfolio holdings with GSSC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSSC Expense: 20 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSSC
Ticker Fund
Name
Overlap1
vs GSSC
(%)
Expense
ratio
(bp)
Savings
vs GSSC
(bp)
ALTAR
Score™
(%)
ALTAR
vs GSSC
(%)
IWM iShares Russell 2000 ETF 71.1 19 1 3.0 -1.3
VTWO Vanguard Russell 2000 Index Fund 70.6 10 10 3.1 -1.3
SCHA Schwab U.S. Small-Cap ETF 55.5 4 16 4.3 -0.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 52.8 29 -9 4.6 +0.2
STSB iShares Factors US Small Blend Style ETF 49.6 35 -15 3.3 -1.1
IWN iShares Russell 2000 Value ETF 49.1 24 -4 5.8 +1.4
IWO iShares Russell 2000 Growth ETF 47.8 24 -4 0.0 -4.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 46.3 39 -19 4.0 -0.3
VTWG Vanguard Russell 2000 Growth Index Fund 46.0 15 5 0.1 -4.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 45.8 6 14 4.6 +0.3
VTWV Vanguard Russell 2000 Value Index Fund 45.8 15 5 5.9 +1.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 41.6 17 3 4.4 +0.0
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 41.3 29 -9 -0.3 -4.6
IUSS Invesco Strategic US Small Company ETF 39.0 23 -3 4.4 +0.0
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 38.6 40 -20 5.7 +1.4
SPSM SPDR Portfolio Small Cap ETF 38.4 5 15 6.5 +2.2
SLY SPDR S&P 600 Small Cap ETF 38.4 15 5 6.4 +2.1
IJR iShares Core S&P Small Cap ETF 38.4 6 14 6.5 +2.1
VIOO Vanguard S&P Small-Cap 600 ETF 38.1 10 10 6.5 +2.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 37.9 25 -5 5.7 +1.3
BKSE BNY Mellon US Small Cap Core Equity ETF 36.7 4 16 5.2 +0.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 36.0 29 -9 5.5 +1.2
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 35.4 35 -15 6.9 +2.6
EES WisdomTree SmallCap Earnings Fund 35.0 38 -18 8.9 +4.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 34.9 35 -15 5.5 +1.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 34.8 35 -15 6.9 +2.6
SSLY Syntax Stratified SmallCap ETF 33.9 30 -10 5.5 +1.2
TPSC Timothy Plan US Small Cap Core ETF 33.9 52 -32 6.6 +2.2
FYX First Trust Small Cap Core AlphaDEX Fund 33.2 63 -43 6.5 +2.2
FSMD Fidelity Small-Mid Factor ETF 32.3 29 -9 5.9 +1.5
AFSM First Trust Active Factor Small Cap ETF 31.9 75 -55 5.2 +0.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 31.8 24 -4 5.7 +1.3
VB Vanguard Small-Cap ETF 31.7 5 15 5.0 +0.6
CSML IQ Chaikin U.S. Small Cap ETF 31.6 35 -15 3.3 -1.0
RWJ Invesco S&P SmallCap 600 Revenue ETF 30.6 39 -19 5.7 +1.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 30.3 30 -10 7.1 +2.7
VBR Vanguard Small Cap Value Index Fund 29.4 7 13 7.2 +2.9
DES WisdomTree U.S. SmallCap Dividend Fund 28.6 38 -18 7.5 +3.1
VXF Vanguard Extended Market Index Fund 28.4 6 14 2.9 -1.5
VFQY Vanguard U.S. Quality Factor ETF 26.4 13 7 5.8 +1.4
SLYG SPDR S&P 600 Small Cap Growth ETF 26.2 15 5 5.1 +0.7
IJT iShares S&P Small-Cap 600 Growth ETF 26.2 25 -5 5.0 +0.6
VIOG Vanguard S&P Small-Cap 600 Growth ETF 26.2 16 4 5.1 +0.7
IJS iShares S&P Small-cap 600 Value ETF 26.0 25 -5 7.8 +3.4
SLYV SPDR S&P 600 Small Cap Value ETF 26.0 15 5 8.0 +3.6
VIOV Vanguard S&P Small-Cap 600 Value ETF 25.8 15 5 8.0 +3.6
NUSC Nuveen ESG Small-Cap ETF 25.2 40 -20 4.4 -0.0
FAD First Trust Multi Cap Growth AlphaDEX Fund 25.1 66 -46 2.1 -2.2
PSC Principal U.S. Small Cap Index ETF 24.9 38 -18 5.1 +0.7
VBK Vanguard Small-Cap Growth Index Fund 24.8 7 13 2.2 -2.2
AVUV Avantis U.S. Small Cap Value ETF 23.5 25 -5 7.3 +3.0
VFLQ Vanguard U.S. Liquidity Factor ETF 23.1 14 6 3.8 -0.6
IWC iShares Micro-Cap ETF 23.0 60 -40 -3.7 -8.0
ROGS Hartford Multifactor Global Small Cap ETF 23.0 34 -14 7.6 +3.2
VFMF Vanguard U.S. Multifactor ETF 22.1 19 1 6.7 +2.4
RNSC Small Cap US Equity Select ETF 22.0 60 -40 6.8 +2.5
ISMD Inspire Small/Mid Cap Impact ETF 21.9 60 -40 4.4 0.0
JHSC John Hancock Multifactor Small Cap ETF 21.9 42 -22 5.2 +0.8
VFMO Vanguard U.S. Momentum Factor ETF 21.8 13 7 0.9 -3.4
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 21.2 12 8 6.7 +2.3
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 20.3 39 -19 4.8 +0.5
EZM WisdomTree U.S. MidCap Earnings Fund 19.9 38 -18 7.7 +3.3
FNX First Trust Mid Cap Core AlphaDEX Fund 19.8 61 -41 5.8 +1.4
TUSA First Trust Total US Market AlphaDEX ETF 19.8 70 -50 5.5 +1.2
FYC First Trust Small Cap Growth AlphaDEX Fund 19.0 70 -50 2.3 -2.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 18.9 20 0 7.4 +3.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 18.5 20 0 4.8 +0.4
JKK iShares Morningstar Small-Cap Growth ETF 18.5 30 -10 1.1 -3.3
MDY SPDR S&P Midcap 400 ETF Trust 17.7 23 -3 5.8 +1.4
IJH iShares Core S&P Mid-Cap ETF 17.7 5 15 6.0 +1.6
SPMD SPDR Portfolio Mid Cap ETF 17.7 5 15 6.0 +1.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 17.7 40 -20 6.3 +1.9
IVOO Vanguard S&P Mid-Cap 400 ETF 17.6 10 10 5.9 +1.5
FAB First Trust Multi Cap Value AlphaDEX Fund 16.9 71 -51 8.3 +3.9
SQLV Legg Mason Small-Cap Quality Value 16.5 62 -42 5.4 +1.0
SMDY Syntax Stratified MidCap ETF 16.3 30 -10 6.0 +1.6
FYT First Trust Small Cap Value AlphaDEX Fund 16.1 72 -52 9.2 +4.8
JKJ iShares Morningstar Small-Cap ETF 15.9 25 -5 5.8 +1.5
BFOR Barron's 400 ETF 15.9 65 -45 6.3 +1.9
DWAS Invesco DWA SmallCap Momentum ETF 15.9 60 -40 -1.4 -5.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 15.6 70 -50 2.0 -2.3
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 15.5 38 -18 7.4 +3.1
AFMC First Trust Active Factor Mid Cap ETF 14.6 65 -45 5.9 +1.6
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 13.8 7 13 4.7 +0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 13.4 25 -5 5.7 +1.3
RWK Invesco S&P MidCap 400 Revenue ETF 13.0 39 -19 6.9 +2.5
RZG Invesco S&P Smallcap 600 Pure Growth ETF 12.6 35 -15 5.4 +1.0
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 12.1 30 -10 5.5 +1.1
MDYV SPDR S&P 400 Mid Cap Value ETF 11.8 15 5 7.4 +3.1
IJJ iShares S&P Mid-Cap 400 Value ETF 11.8 25 -5 7.3 +3.0
RNMC Mid Cap US Equity Select ETF 11.7 60 -40 6.5 +2.2
MDYG SPDR S&P 400 Mid Cap Growth ETF 11.7 15 5 4.7 +0.4
IJK iShares S&P Mid-Cap 400 Growth ETF 11.7 24 -4 4.6 +0.3
PXSG Invesco S&P SmallCap Momentum ETF 11.5 39 -19 4.3 -0.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.5 15 5 7.4 +3.1
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 11.4 15 5 4.7 +0.3
SFYX Sofi Next 500 ETF 11.3 0 20 5.4 +1.1
JSML Janus Henderson Small Cap Growth Alpha ETF 11.3 30 -10 7.2 +2.9
KOMP SPDR Kensho New Economies Composite ETF 10.5 20 0 2.3 -2.0
BTEC Principal Healthcare Innovators Index ETF 10.5 42 -22 -2.8 -7.2

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

  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

Content on this tab for subscribers only

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 U.S. Small Cap 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 8.9 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.50
 
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.