Goldman Sachs Hedge Industry VIP ETF
ALTAR
Score™
4.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
31.2x P/Sales
ratio
1.6x
P/BV
ratio
3.2x Div.
yield
0.6%


  • 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) $98
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 49
Wgt avg mkt cap (mns) $238,553
Large cap (>$10bn) 88.1%
Mid cap ($2-10bn) 11.9%
Small cap (<$2bn) 0.0%
Developed mkts 92.7%
Emerging mkts 7.3%

TOP TEN HOLDINGS
SEA LTD. (SINGAPORE) SPONSORED ADR 3.5 %
TESLA MOTORS INC 3.4 %
CARVANA CO. CLASS A 2.6 %
AMAZON.COM INC 2.4 %
ZYNGA INC - CL A 2.3 %
JD.COM INC-ADR 2.3 %
ALIBABA GROUP HOLDING LTD. SPONSOR 2.3 %
ADOBE SYSTEMS INC 2.3 %
TWILIO, INC. CLASS A 2.3 %
CITIGROUP INC 2.2 %
Total 25.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.8 %
CHINA 4.6 %
SINGAPORE 3.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
3.9% 13.5% -- -- 13.9%

Market Correlations
versus... Beta R-squared
S&P500 1.15 90%
MSCI EAFE 1.13 77%
MSCI Emg. Mkts. 0.83 65%

Technical Indicators
Recent close $67.42
30d moving avg. $66.26
Annualized volatility 20.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.6%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $110,193

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™: 4.7%


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
(%)
FMK First Trust Mega Cap AlphaDEX Fund 36.2 70 -25 5.2 +0.5
XNTK SPDR NYSE Technology ETF 35.2 35 10 3.6 -1.1
JKE iShares Morningstar Large-Cap Growth ETF 34.3 25 20 2.8 -1.8
SCHG Schwab U.S. Large-Cap Growth ETF 33.7 4 41 4.1 -0.6
XLG Invesco S&P 500 Top 50 ETF 33.0 20 25 4.4 -0.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 32.8 12 33 4.8 +0.1
MGK Vanguard Mega Cap Growth ETF 32.6 7 38 4.1 -0.6
TMFC Motley Fool 100 Index ETF 32.0 50 -5 3.7 -1.0
ADME Aptus Drawdown Managed Equity ETF 31.9 81 -36 3.6 -1.1
ALFA AlphaClone Alternative Alpha ETF 31.4 65 -20 3.4 -1.3
OEF iShares S&P 100 ETF 31.3 20 25 4.8 +0.1
TECB iShares US Tech Breakthrough Multisector ETF 31.2 40 5 4.0 -0.7
IWY iShares Russell Top 200 Growth ETF 31.0 20 25 4.1 -0.6
IWL iShares Russell Top 200 ETF 30.8 15 30 5.0 +0.3
VUG Vanguard Growth Index Fund 30.2 4 41 4.0 -0.7
BKLC BNY Mellon US Large Cap Core Equity ETF 30.1 0 45 5.2 +0.5
IGM iShares Expanded Tech Sector ETF 29.9 46 -1 3.8 -0.9
LRGE ClearBridge Large Cap Growth ESG ETF 29.9 59 -14 3.8 -0.9
MGC Vanguard Mega Cap Index Fund 29.8 7 38 5.2 +0.5
QYLD Global X NASDAQ 100 Covered Call ETF 29.4 60 -15 3.5 -1.2
NUSI Nationwide Risk-Managed Income ETF 29.2 68 -23 3.5 -1.2
VEGN US Vegan Climate ETF 29.2 60 -15 5.2 +0.5
FDMO Fidelity Momentum Factor ETF 28.6 29 16 3.8 -0.9
IWF iShares Russell 1000 Growth ETF 28.5 19 26 4.1 -0.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 28.4 15 30 4.1 -0.6
QQQ Invesco QQQ Trust 28.4 20 25 3.8 -0.9
ECOZ TrueMark ESG Active Opportunities ETF 28.2 58 -13 4.2 -0.5
VONG Vanguard Russell 1000 Growth Index Fund 28.0 8 37 4.2 -0.5
SFY SoFi Select 500 ETF 27.9 0 45 5.2 +0.6
VOOG Vanguard S&P 500 Growth ETF 27.3 10 35 4.2 -0.5
IVW iShares S&P 500 Growth ETF 27.3 18 27 4.2 -0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 27.3 27 18 5.0 +0.3
SPYG SPDR Portfolio S&P 500 Growth ETF 27.2 4 41 4.3 -0.4
CACG ClearBridge All Cap Growth ETF 27.2 54 -9 4.4 -0.3
SPXE ProShares S&P 500 Ex-Energy ETF 27.1 27 18 5.3 +0.6
PBP Invesco S&P 500 BuyWrite ETF 27.1 49 -4 5.0 +0.3
VV Vanguard Large-Cap Index Fund 27.1 4 41 5.3 +0.6
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.0 20 25 5.4 +0.7
IETC iShares Evolved U.S. Technology ETF 27.0 18 27 3.8 -0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 26.9 7 38 5.2 +0.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 26.9 2 43 5.3 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.9 20 25 5.0 +0.3
HSPX Global X S&P 500 Covered Call ETF 26.8 65 -20 4.9 +0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 26.8 60 -15 4.4 -0.3
SPY SPDR S&P 500 ETF Trust 26.7 9 36 5.4 +0.7
IVV iShares Core S&P 500 ETF 26.7 4 41 5.4 +0.7
SPLG SPDR Portfolio Large Cap ETF 26.6 3 42 5.4 +0.7
VOO VANGUARD S&P 500 ETF 26.5 3 42 5.4 +0.7
IUSG iShares Core S&P US Growth ETF 26.5 4 41 4.3 -0.4
ESGU iShares MSCI USA ESG Optimized ETF 26.4 15 30 5.1 +0.4
SCHX Schwab U.S. Large-Cap ETF 26.4 3 42 5.3 +0.6
PBUS Invesco PureBeta MSCI USA ETF 26.3 4 41 5.3 +0.6
SPXN ProShares S&P 500 Ex-Financials ETF 26.1 27 18 5.0 +0.3
ESGV Vanguard ESG U.S. Stock ETF 26.1 12 33 5.2 +0.5
MILN Global X Millennials Thematic ETF 25.9 50 -5 2.5 -2.2
VONE Vanguard Russell 1000 ETF 25.8 8 37 5.3 +0.6
IWB iShares Russell 1000 ETF 25.8 15 30 5.2 +0.5
SCHK Schwab 1000 Index ETF 25.8 5 40 5.3 +0.6
GURU Global X Guru Index ETF 25.7 75 -30 3.9 -0.8
IYY iShares Dow Jones U.S. ETF 25.6 20 25 5.2 +0.5
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.3 12 33 4.9 +0.2
JMOM JPMorgan U.S. Momentum Factor ETF 25.2 12 33 3.9 -0.8
SPTM SPDR Portfolio Total Stock Market ETF 25.2 3 42 5.5 +0.9
AIQ Global X Future Analytics Tech ETF 25.1 68 -23 3.9 -0.8
CATH Global X S&P 500 Catholic Values Custom ETF 24.9 29 16 5.2 +0.5
SNPE Xtrackers S&P 500 ESG ETF 24.9 11 34 5.1 +0.4
SCHB Schwab U.S. Broad Market ETF 24.9 3 42 5.3 +0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 24.8 3 42 5.2 +0.5
IWV iShares Russell 3000 ETF 24.8 20 25 5.1 +0.4
VTHR Vanguard Russell 3000 Index Fund 24.7 10 35 5.1 +0.5
SFYF SoFi 50 ETF 24.7 29 16 5.1 +0.4
VTI Vanguard Total Stock Market Index Fund 24.7 3 42 5.2 +0.5
HIPR Direxion High Growth ETF 24.3 40 5 2.8 -1.9
IQSU IQ Candriam ESG US Equity ETF 24.3 9 36 5.1 +0.4
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 24.1 49 -4 5.2 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 24.1 32 13 5.1 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 24.1 8 37 6.5 +1.8
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 23.8 15 30 6.2 +1.5
EQWL Invesco Russell Top 200 Equal Weight ETF 23.7 25 20 6.1 +1.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 23.7 21 24 2.9 -1.8
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 23.6 59 -14 3.6 -1.1
BUYZ Franklin Disruptive Commerce ETF 23.6 50 -5 -0.2 -4.9
EXT WisdomTree U.S. Total Earnings Fund 23.5 28 17 5.2 +0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 23.5 75 -30 4.5 -0.2
DSI iShares MSCI KLD 400 Social ETF 23.4 25 20 5.1 +0.5
PWB Invesco Dynamic Large Cap Growth ETF 22.9 55 -10 3.4 -1.3
SYG SPDR MFS Systematic Growth Equity ETF 22.8 60 -15 4.3 -0.4
RPG Invesco S&P 500 Pure Growth ETF 22.8 35 10 4.4 -0.3
NACP Impact Shares NAACP Minority Empowerment ETF 22.5 75 -30 4.5 -0.2
NULG Nuveen ESG Large-Cap Growth ETF 22.5 35 10 3.6 -1.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 22.4 9 36 5.6 +0.9
OGIG O'Shares Global Internet Giants ETF 22.1 48 -3 0.7 -4.0
VGFO Virtus WMC Global Factor Opportunities ETF 22.1 49 -4 5.9 +1.3
PNQI Invesco NASDAQ Internet ETF 22.0 62 -17 1.1 -3.6
GDAT Goldman Sachs Motif Data-Driven World Etf 21.8 50 -5 4.9 +0.2
SPMO Invesco S&P 500 Momentum ETF 21.6 13 32 4.4 -0.3
FQAL Fidelity Quality Factor ETF 21.4 29 16 5.5 +0.8
THNQ ROBO Global Artificial Intelligence ETF 21.4 68 -23 1.9 -2.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 21.4 25 20 6.7 +2.0
NULC Nuveen ESG Large-Cap ETF 21.4 20 25 5.0 +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%.

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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 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 15.3 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.52
 
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.