GDEF
Goldman Sachs Defensive Equity ETF
GDEF seeks capital growth by holding a portfolio of US large-cap equities while utilizing a naked put spread collar strategy on the S&P 500 Index. The fund is actively managed.
US
EQUITY
Active
MANAGEMENT STYLE
7.1 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
Fund sponsor | Goldman Sachs |
Category | US |
Asset class | Equity |
Website | link... |
Inception date | Sep 30, 2020 |
Assets (mns) | $7 |
Expense ratio | 55 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Proprietary |
Weighting | Proprietary |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
APPLE INC | 6.3 % |
MICROSOFT CORP | 6.1 % |
NVIDIA CORP | 5.2 % |
ALPHABET INC. CLASS A | 3.6 % |
BERKSHIRE HATHAWAY INC-CL B | 1.2 % |
UNITEDHEALTH GROUP INC | 1.1 % |
EXXON MOBIL CORP | 1.1 % |
VISA INC. CLASS A | 1.1 % |
JOHNSON & JOHNSON | 1.0 % |
HOME DEPOT INC | 1.0 % |
Constituent Breakdown
Number of holdings | 270 |
Herfindahl-Hirschman Index | 148 |
Wgt avg mkt cap (mns) | $665,432 |
Large cap (>$10bn) | 98.1% |
Mid cap ($2-10bn) | 1.7% |
Small cap (<$2bn) | 0.0% |
Developed mkts. | 99.8% |
Emerging mkts. | 0.3% |
Country Exposure
UNITED STATES | 90.7 % | |
IRELAND | 1.5 % | |
BRITAIN | 1.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
---|---|---|---|---|---|---|---|
Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 5.8% | 5.7% | -- | -- | -- | -- | -- |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.42 | 72% |
MSCI EAFE | 0.33 | 52% |
MSCI Emg Mkts | 0.26 | 27% |
Liquidity Measures
Avg. volume (000) | 0 |
Turnover | 0.0% |
Avg. Bid/Ask (% of price) | 0.37% |
ADV of underlying (mns) | $144,821 |
Technical Indicators
Recent close | $48.49 |
30d moving avg. | $48.28 |
Annualized volatility | 7.1% |
Relative strength (RSI) | 62 |
Short interest (ETF) | 0.1% |
Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. GDEF |
Expenses vs. GDEF |
ALTAR Score™ vs. GDEF |
---|---|---|---|---|
GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 59.9% | -48 bp | +0.3% |
BKLC | BNY Mellon US Large Cap Core Equity ETF | 59.7% | -55 bp | +0.3% |
CVLC | Calvert US Large-Cap Core Responsible Index ETF | 59.5% | -40 bp | +0.3% |
VOTE | TCW Transform 500 ETF | 59.4% | -50 bp | +0.3% |
BBUS | JP Morgan Betabuilders U.S. Equity ETF | 59.0% | -53 bp | +0.3% |
SPXE | ProShares S&P 500 Ex-Energy ETF | 59.0% | -46 bp | +0.2% |
STRV | Strive 500 ETF | 58.8% | -50 bp | +0.2% |
VV | Vanguard Large-Cap ETF | 58.6% | -51 bp | +0.3% |
VOO | Vanguard S&P 500 ETF | 58.6% | -52 bp | +0.4% |
IVV | iShares Core S&P 500 ETF | 58.6% | -52 bp | +0.4% |
Risk and Returns: GDEF vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 7/19/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
GDEF
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
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™
GDEF
4.6%
Cat. Avg
5.3%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.3% and a standard deviation of
2.4%. GDEF's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places GDEF in the 38th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GDEFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
Peer Group | Active US Equity ETFs |
# of ETFs | 308 |
Avg. Expense Ratio | 67.1 bp |
Std. Deviation | 37 bp |
GDEF (55 bp) Percentile rank | 39 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
GDEF | 55.0 | 36.7 | 91.7 |
Peer Avg. | 37.1 | 14.9 | 52.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .