GDOC
Goldman Sachs Future Health Care Equity ETF
GDOC is actively managed to provide exposure to equities of companies that are driving innovation in healthcare globally.
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | Global Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 09, 2021 |
| Assets (mns) | $110 |
| Expense ratio | 75 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
| ELI LILLY & CO | 6.1 % |
| ASTRAZENECA PLC | 5.3 % |
| BOSTON SCIENTIFIC CORP | 5.2 % |
| INTUITIVE SURGICAL INC | 5.1 % |
| DEXCOM INC | 3.5 % |
| GILEAD SCIENCES INC | 3.4 % |
| INSULET CORP | 3.3 % |
| EDWARDS LIFESCIENCES CORP | 3.3 % |
| CSL LIMITED | 3.2 % |
| BIOGEN IDEC INC | 3.0 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 288 |
| Wgt avg mkt cap (mns) | $61,252 |
| Large cap (>$10bn) | 77.7% |
| Mid cap ($2-10bn) | 17.7% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 78.6 % |
 |
JAPAN | 5.7 % |
 |
BRITAIN | 5.3 % |
 |
AUSTRALIA | 3.2 % |
 |
DENMARK | 1.8 % |
 |
SWITZERLAND | 0.9 % |
 |
NETHERLANDS | 0.8 % |
 |
FRANCE | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 2.2% | 7.2% | -- | -- | -- | -- | -8.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.82 | 64% |
| MSCI EAFE | 0.74 | 50% |
| MSCI Emg Mkts | 0.41 | 15% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.23% |
| ADV of underlying (mns) | $8,030 |
Technical Indicators
| Recent close | $32.99 |
| 30d moving avg. | $32.99 |
| Annualized volatility | 21.4% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.0% |
| 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. GDOC |
Expenses vs. GDOC |
ALTAR Score™ vs. GDOC |
|---|---|---|---|---|
| BMED | BlackRock Future Health ETF | 29.8% | +10 bp | +0.3% |
| AGNG | Global X Aging Population ETF | 29.4% | -25 bp | +2.4% |
| RYH | Invesco S&P 500 Equal Weight Health Care ETF | 29.0% | -35 bp | +6.3% |
| PINK | Simplify Health Care ETF | 26.2% | -25 bp | +3.1% |
| MDEV | First Trust Indxx Medical Devices ETF | 26.0% | -5 bp | +1.6% |
| IYH | iShares U.S. Healthcare ETF | 26.0% | -36 bp | +5.3% |
| VHT | Vanguard Health Care Index Fund | 25.6% | -65 bp | +4.7% |
| FHLC | Fidelity MSCI Health Care Index ETF | 25.6% | -67 bp | +4.6% |
| FBT | First Trust NYSE Arca Biotechnology Index Fund | 25.4% | -20 bp | 0.0% |
| IXJ | iShares Global Healthcare ETF | 25.1% | -35 bp | +5.4% |
Risk and Returns: GDOC 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 6/2/2023
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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
GDOC
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
GDOC
1.5%
Cat. Avg
3.9%
Fund Category: Global Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 1.5% |
Recommendation
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.
Category Overview
There are 343 funds in the Global Equities category, with an average ALTAR Score™
of 3.9% and a standard deviation of
4.9%. GDOC's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places GDOC in the 31st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GDOC
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GDOC | 75.0 | 23.4 | 98.4 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .