Goldman Sachs Hedge Industry VIP ETF
ALTAR
Score™
3.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
40.9x P/Sales
ratio
2.7x
P/BV
ratio
4.7x Div.
yield
0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Goldman Sachs Hedge Industry VIP ETF tracks an equal-weighted index of the 50 most-frequently held US companies selected from the portfolios of hedge funds.

FUND BASICS
Category US Equities
Fund Sponsor Goldman Sachs
Website www.gsam.com
Inception date Nov 01, 2016
Assets (mns) $160
Currency USD
Expense ratio 45 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 50
Wgt avg mkt cap (mns) $257,100
Large cap (>$10bn) 94.1%
Mid cap ($2-10bn) 5.9%
Small cap (<$2bn) 0.0%
Developed mkts 92.7%
Emerging mkts 7.3%

TOP TEN HOLDINGS
PINTEREST, INC. CLASS A 3.4 %
TESLA MOTORS INC 3.0 %
ELDORADO RESORTS INC 2.9 %
CROWDSTRIKE HOLDINGS, INC. CLASS A 2.5 %
SEA LTD. (SINGAPORE) SPONSORED ADR 2.5 %
JD.COM INC-ADR 2.4 %
MICRON TECHNOLOGY INC 2.4 %
P G & E CORP 2.3 %
SALESFORCE.COM INC 2.2 %
CARVANA CO. CLASS A 2.2 %
Total 25.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.9 %
CHINA 4.3 %
SINGAPORE 2.5 %
IRELAND 1.6 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.0% 31.2% -- -- 16.6%

Market Correlations
versus... Beta R-squared
S&P500 1.17 90%
MSCI EAFE 1.19 77%
MSCI Emg. Mkts. 0.85 61%

Technical Indicators
Recent close $86.47
30d moving avg. $81.15
Annualized volatility 22.0%
Short interest (ETF) 0.9%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.4%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $100,289

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Goldman Sachs Hedge Industry VIP ETF ETF based on the alternatives' overlap in portfolio holdings with GVIP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GVIP Expense: 45 bp ALTAR Score™: 3.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GVIP
Ticker Fund
Name
Overlap1
vs GVIP
(%)
Expense
ratio
(bp)
Savings
vs GVIP
(bp)
ALTAR
Score™
(%)
ALTAR
vs GVIP
(%)
SPQQ Siren Large Cap Blend Index ETF 37.5 20 25 4.4 +1.0
XNTK SPDR NYSE Technology ETF 35.6 35 10 3.2 -0.2
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 32.8 12 33 4.5 +1.1
JKE iShares Morningstar Large-Cap Growth ETF 31.2 25 20 2.8 -0.6
TECB iShares US Tech Breakthrough Multisector ETF 31.0 40 5 3.8 +0.4
MGK Vanguard Mega Cap Growth ETF 30.3 7 38 3.8 +0.4
ECOZ TrueMark ESG Active Opportunities ETF 30.1 58 -13 3.2 -0.1
IWY iShares Russell Top 200 Growth ETF 29.9 20 25 3.7 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 29.6 0 45 4.7 +1.4
QYLD Global X NASDAQ 100 Covered Call ETF 29.5 60 -15 3.3 -0.1
NUSI Nationwide Risk-Managed Income ETF 29.5 68 -23 3.5 +0.1
IGM iShares Expanded Tech Sector ETF 29.3 46 -1 3.5 +0.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 29.3 60 -15 3.3 -0.1
IWL iShares Russell Top 200 ETF 29.3 15 30 4.6 +1.2
OEF iShares S&P 100 ETF 29.3 20 25 4.5 +1.1
QQQM Invesco NASDAQ 100 ETF 29.2 15 30 3.7 +0.3
QQQ Invesco QQQ Trust 29.2 20 25 3.7 +0.3
FMK First Trust Mega Cap AlphaDEX Fund 29.1 70 -25 4.7 +1.3
XLG Invesco S&P 500 Top 50 ETF 29.0 20 25 4.2 +0.9
SCHG Schwab U.S. Large-Cap Growth ETF 29.0 4 41 3.3 -0.1
MGC Vanguard Mega Cap Index Fund 28.8 7 38 4.8 +1.4
TMFC Motley Fool 100 Index ETF 28.4 50 -5 3.2 -0.2
VOOG Vanguard S&P 500 Growth ETF 28.4 10 35 4.1 +0.7
ESGV Vanguard ESG U.S. Stock ETF 28.3 12 33 4.7 +1.3
PWB Invesco Dynamic Large Cap Growth ETF 27.8 56 -11 3.2 -0.2
IWF iShares Russell 1000 Growth ETF 27.7 19 26 3.6 +0.2
VUG Vanguard Growth Index Fund 27.7 4 41 3.7 +0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 27.6 4 41 4.1 +0.7
IVW iShares S&P 500 Growth ETF 27.6 18 27 4.0 +0.6
VEGN US Vegan Climate ETF 27.6 60 -15 4.7 +1.3
ANEW ProShares MSCI Transformational Changes ETF 27.5 45 0 3.1 -0.3
SFY SoFi Select 500 ETF 27.4 0 45 4.7 +1.3
VONG Vanguard Russell 1000 Growth Index Fund 27.2 8 37 3.7 +0.3
SPMO Invesco S&P 500 Momentum ETF 27.1 13 32 3.9 +0.5
HIPR Direxion High Growth ETF 27.0 40 5 4.3 +0.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 26.8 60 -15 3.8 +0.4
IUSG iShares Core S&P US Growth ETF 26.8 4 41 4.1 +0.8
IETC iShares Evolved U.S. Technology ETF 26.8 18 27 3.6 +0.2
MMLG First Trust Multi-Manager Large Growth ETF 26.4 85 -40 2.0 -1.4
GURU Global X Guru Index ETF 26.3 75 -30 3.6 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 26.2 27 18 4.6 +1.2
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 26.0 99 -54 1.4 -2.0
FDMO Fidelity Momentum Factor ETF 26.0 29 16 3.1 -0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.8 12 33 4.1 +0.7
PBP Invesco S&P 500 BuyWrite ETF 25.6 49 -4 4.6 +1.3
SFYF SoFi 50 ETF 25.5 29 16 1.0 -2.4
ALFA AlphaClone Alternative Alpha ETF 25.5 65 -20 -0.5 -3.9
AIQ Global X Future Analytics Tech ETF 25.5 68 -23 3.7 +0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.5 7 38 4.8 +1.4
SPXE ProShares S&P 500 Ex-Energy ETF 25.5 27 18 4.9 +1.5
HSPX Global X S&P 500 Covered Call ETF 25.4 60 -15 4.6 +1.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.4 2 43 4.8 +1.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 25.4 20 25 4.9 +1.5
VV Vanguard Large-Cap Index Fund 25.3 4 41 4.8 +1.4
CACG ClearBridge All Cap Growth ETF 25.3 54 -9 4.0 +0.6
MTUM iShares MSCI USA Momentum Factor ETF 25.1 15 30 4.0 +0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 25.1 60 -15 4.6 +1.2
SPY SPDR S&P 500 ETF Trust 25.0 9 36 4.9 +1.5
IVV iShares Core S&P 500 ETF 25.0 3 42 5.0 +1.6
SPLG SPDR Portfolio Large Cap ETF 25.0 3 42 5.0 +1.6
PBUS Invesco PureBeta MSCI USA ETF 24.9 4 41 4.8 +1.4
SCHX Schwab U.S. Large-Cap ETF 24.9 3 42 4.8 +1.4
IQSU IQ Candriam ESG US Equity ETF 24.7 9 36 4.7 +1.3
VOO VANGUARD S&P 500 ETF 24.7 3 42 5.0 +1.6
RPG Invesco S&P 500 Pure Growth ETF 24.5 35 10 4.1 +0.7
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 24.4 21 24 2.8 -0.6
SCHK Schwab 1000 Index ETF 24.4 5 40 4.8 +1.4
IWB iShares Russell 1000 ETF 24.4 15 30 4.7 +1.3
IYY iShares Dow Jones U.S. ETF 24.3 20 25 4.6 +1.2
ESGU iShares MSCI USA ESG Optimized ETF 24.2 15 30 4.6 +1.3
SPXN ProShares S&P 500 Ex-Financials ETF 24.1 27 18 4.6 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 24.1 60 -15 4.0 +0.6
CATH Global X S&P 500 Catholic Values Custom ETF 23.9 29 16 4.7 +1.3
LRGE ClearBridge Large Cap Growth ESG ETF 23.9 59 -14 3.5 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 23.8 20 25 4.6 +1.2
VTHR Vanguard Russell 3000 Index Fund 23.8 10 35 4.6 +1.2
SPTM SPDR Portfolio Total Stock Market ETF 23.5 3 42 5.1 +1.7
SCHB Schwab U.S. Broad Market ETF 23.4 3 42 4.7 +1.3
PLAT WisdomTree Modern Tech Platforms Fund 23.4 20 25 1.4 -2.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.3 3 42 4.6 +1.3
IWV iShares Russell 3000 ETF 23.3 20 25 4.5 +1.1
DSI iShares MSCI KLD 400 Social ETF 23.2 25 20 4.7 +1.3
MILN Global X Millennials Thematic ETF 23.1 50 -5 2.1 -1.3
USXF iShares ESG Advanced MSCI USA ETF 23.0 10 35 4.6 +1.2
ESG FlexShares STOXX US ESG Impact Index Fund 22.9 32 13 4.7 +1.3
WUGI Esoterica NextG Economy ETF 22.8 75 -30 1.3 -2.1
VTI Vanguard Total Stock Market Index Fund 22.8 3 42 4.6 +1.3
VONE Vanguard Russell 1000 ETF 22.7 8 37 4.7 +1.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 22.6 15 30 5.8 +2.4
EXT WisdomTree U.S. Total Earnings Fund 22.6 28 17 5.2 +1.8
ADME Aptus Drawdown Managed Equity ETF 22.5 79 -34 3.4 +0.0
EFIV SPDR S&P 500 ESG ETF 22.5 10 35 4.7 +1.3
SNPE Xtrackers S&P 500 ESG ETF 22.5 10 35 4.7 +1.3
JMOM JPMorgan U.S. Momentum Factor ETF 22.4 12 33 3.2 -0.2
CLRG IQ Chaikin U.S. Large Cap ETF 22.3 25 20 5.2 +1.8
XLK Technology Select Sector SPDR Fund 22.1 13 32 4.5 +1.1
GBGR Global Beta Momentum-Growth ETF 21.9 29 16 5.1 +1.7
EQWL Invesco Russell Top 200 Equal Weight ETF 21.9 25 20 5.7 +2.3
EPS WisdomTree U.S. Earnings 500 Fund 21.8 8 37 5.9 +2.5
AIEQ AI Powered Equity ETF 21.7 87 -42 1.9 -1.5

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 Hedge Industry VIP 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 16.1 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 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.