Goldman Sachs MarketBeta U.S. Equity ETF
ALTAR
Score™		 4.6% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 28.4x P/Sales
ratio		 3.0x
P/BV
ratio		 4.1x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
GSUS tracks an index of US equities, selected and weighted by market capitalization.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date May 12, 2020
Assets (mns) $286
Currency USD
Expense ratio 7 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 511
Wgt avg mkt cap (mns) $502,705
Large cap (>$10bn) 99.0%
Mid cap ($2-10bn) 0.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
APPLE INC 6.6 %
MICROSOFT CORP 4.9 %
AMAZON.COM INC 4.0 %
TESLA MOTORS INC 1.9 %
FACEBOOK 1.8 %
ALPHABET INC. CLASS A 1.6 %
ALPHABET INC. CLASS C 1.5 %
JOHNSON & JOHNSON 1.3 %
JPMORGAN CHASE & CO 1.3 %
VISA INC-CLASS A SHARES 1.0 %
Total 26.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
IRELAND 1.5 %
BRITAIN 1.0 %
SWITZERLAND 0.4 %
ARGENTINA 0.3 %
BERMUDA 0.2 %
CHINA 0.1 %




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.
23.5% -- -- -- 23.5%

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

Technical Indicators
Recent close $52.56
30d moving avg. $52.00
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.1%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $282,438

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Goldman Sachs MarketBeta U.S. Equity ETF ETF based on the alternatives' overlap in portfolio holdings with GSUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GSUS Expense: 7 bp ALTAR Score™: 4.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GSUS
Ticker Fund
Name		 Overlap1
vs GSUS
(%)		 Expense
ratio
(bp)		 Savings
vs GSUS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs GSUS
(%)
BBUS JP Morgan Betabuilders U.S. Equity ETF 93.8 2 5 4.7 +0.1
VV Vanguard Large-Cap Index Fund 93.6 4 3 4.7 +0.0
PBP Invesco S&P 500 BuyWrite ETF 93.6 49 -42 4.4 -0.3
SPY SPDR S&P 500 ETF Trust 93.4 9 -2 4.8 +0.1
SPLG SPDR Portfolio Large Cap ETF 93.4 3 4 4.8 +0.2
IVV iShares Core S&P 500 ETF 93.4 3 4 4.8 +0.2
PBUS Invesco PureBeta MSCI USA ETF 93.4 4 3 4.7 +0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 93.3 60 -53 4.4 -0.2
VOO VANGUARD S&P 500 ETF 91.6 3 4 4.9 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 90.7 27 -20 4.7 +0.1
SCHX Schwab U.S. Large-Cap ETF 90.5 3 4 4.6 +0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 90.2 20 -13 4.9 +0.2
SCHK Schwab 1000 Index ETF 88.2 5 2 4.7 +0.0
SPTM SPDR Portfolio Total Stock Market ETF 88.1 3 4 4.9 +0.2
IWB iShares Russell 1000 ETF 87.9 15 -8 4.6 -0.1
IYY iShares Dow Jones U.S. ETF 87.1 20 -13 4.5 -0.1
VTHR Vanguard Russell 3000 Index Fund 84.3 10 -3 4.5 -0.2
ESGV Vanguard ESG U.S. Stock ETF 82.7 12 -5 4.6 -0.1
IWV iShares Russell 3000 ETF 82.1 20 -13 4.4 -0.3
SCHB Schwab U.S. Broad Market ETF 82.0 3 4 4.5 -0.1
MGC Vanguard Mega Cap Index Fund 81.8 7 0 4.7 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 81.7 20 -13 4.7 +0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 81.4 3 4 4.5 -0.2
SPXN ProShares S&P 500 Ex-Financials ETF 81.1 27 -20 4.5 -0.2
VONE Vanguard Russell 1000 ETF 81.0 8 -1 4.6 +0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 80.0 27 -20 4.4 -0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 79.9 0 7 4.6 -0.1
VTI Vanguard Total Stock Market Index Fund 79.8 3 4 4.5 -0.1
IWL iShares Russell Top 200 ETF 79.3 15 -8 4.5 -0.1
ESGU iShares MSCI USA ESG Optimized ETF 79.2 15 -8 4.5 -0.1
CATH Global X S&P 500 Catholic Values Custom ETF 78.6 29 -22 4.7 +0.0
SFY SoFi Select 500 ETF 78.3 0 7 4.6 +0.0
DFAU Dimensional US Core Equity Market ETF 77.7 12 -5 4.7 +0.1
JHML John Hancock Multifactor Large Cap ETF 73.3 29 -22 4.9 +0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 72.2 9 -2 4.9 +0.3
IQSU IQ Candriam ESG US Equity ETF 71.8 9 -2 4.6 -0.0
JCTR JPMorgan Carbon Transition U.S. Equity ETF 70.4 15 -8 4.7 +0.1
SNPE Xtrackers S&P 500 ESG ETF 69.5 10 -3 4.7 +0.1
EFIV SPDR S&P 500 ESG ETF 69.5 10 -3 4.7 +0.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 69.3 12 -5 4.1 -0.5
EPS WisdomTree U.S. Earnings 500 Fund 67.7 8 -1 6.0 +1.4
SPXT ProShares S&P 500 Ex-Technology ETF 67.3 27 -20 4.9 +0.3
VOOG Vanguard S&P 500 Growth ETF 67.1 10 -3 4.1 -0.6
KOKU Xtrackers MSCI Kokusai Equity ETF 66.7 9 -2 5.1 +0.5
TOK iShares MSCI Kokusai ETF 66.6 25 -18 5.0 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 65.0 15 -8 5.3 +0.7
ESG FlexShares STOXX US ESG Impact Index Fund 64.6 32 -25 4.6 -0.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 64.1 60 -53 3.7 -0.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 63.6 25 -18 5.0 +0.3
OEF iShares S&P 100 ETF 63.6 20 -13 4.3 -0.3
AVUS Avantis U.S. Equity ETF 62.8 15 -8 4.9 +0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 62.3 4 3 3.8 -0.8
IVW iShares S&P 500 Growth ETF 62.3 18 -11 3.7 -1.0
PRF Invesco FTSE RAFI US 1000 ETF 62.1 39 -32 5.8 +1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 62.1 25 -18 5.8 +1.2
IUSG iShares Core S&P US Growth ETF 61.7 4 3 3.8 -0.8
DIVB iShares U.S. Dividend & Buyback ETF 61.6 25 -18 5.9 +1.3
URTH iShares MSCI World ETF 61.5 24 -17 5.0 +0.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 61.5 30 -23 5.3 +0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 59.7 25 -18 5.7 +1.1
IUS Invesco Strategic US ETF 58.6 19 -12 5.5 +0.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 58.5 15 -8 5.8 +1.2
SPYV SPDR Portfolio S&P 500 Value ETF 57.8 4 3 6.4 +1.8
IVE iShares S&P 500 Value ETF 57.7 18 -11 6.3 +1.6
IUSV iShares Core S&P U.S. Value ETF 56.9 4 3 6.4 +1.8
ACVF American Conservative Values ETF 56.6 75 -68 4.2 -0.5
IWF iShares Russell 1000 Growth ETF 56.6 19 -12 3.6 -1.1
VONG Vanguard Russell 1000 Growth Index Fund 56.4 8 -1 3.7 -1.0
RWL Invesco S&P 500 Revenue ETF 56.2 39 -32 6.3 +1.7
VUG Vanguard Growth Index Fund 54.6 4 3 3.6 -1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 54.0 30 -23 5.1 +0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 54.0 28 -21 6.2 +1.6
HIPR Direxion High Growth ETF 53.8 40 -33 4.0 -0.6
VLU SPDR S&P 1500 Value Tilt ETF 53.7 12 -5 6.2 +1.5
ACWI iShares MSCI ACWI ETF 53.1 32 -25 5.2 +0.5
RESP WisdomTree US ESG Fund of Benef Interest 53.0 28 -21 5.2 +0.5
VONV Vanguard Russell 1000 Value Index Fund 52.8 8 -1 6.1 +1.5
VOOV Vanguard S&P 500 Value ETF 52.7 10 -3 6.6 +1.9
IWD iShares Russell 1000 Value ETF 52.4 19 -12 6.0 +1.4
DTD WisdomTree U.S.Total Dividend Fund 52.4 28 -21 6.3 +1.6
LOWC SPDR MSCI ACWI Low Carbon Target ETF 52.3 20 -13 5.4 +0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 52.3 42 -35 4.7 +0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 52.2 20 -13 5.4 +0.8
SCHV Schwab U.S. Large-Cap Value ETF 52.2 4 3 6.1 +1.4
DSI iShares MSCI KLD 400 Social ETF 51.5 25 -18 4.7 +0.0
NACP Impact Shares NAACP Minority Empowerment ETF 51.1 49 -42 4.8 +0.1
IWY iShares Russell Top 200 Growth ETF 51.1 20 -13 3.7 -0.9
KRMA Global X Conscious Companies ETF 50.6 43 -36 4.9 +0.3
XLG Invesco S&P 500 Top 50 ETF 50.4 20 -13 4.2 -0.4
AFLG First Trust Active Factor Large Cap ETF 49.8 55 -48 4.8 +0.1
QWLD SPDR MSCI World StrategicFactors ETF 49.3 30 -23 5.4 +0.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 49.0 49 -42 3.5 -1.1
SUSA iShares MSCI USA ESG Select ETF 48.9 25 -18 4.3 -0.3
WOMN Impact Shares YWCA Women's Empowerment ETF 48.5 75 -68 3.6 -1.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 48.3 9 -2 5.0 +0.4
RECS Columbia Research Enhanced Core ETF 48.1 15 -8 5.2 +0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 47.9 10 -3 4.9 +0.3
SUSL iShares ESG MSCI USA Leaders ETF 47.9 10 -3 4.9 +0.3

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 MarketBeta U.S. 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 17.4 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 7 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.43 CATEGORY
AVERAGE		 1.49
 
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.