GEM

Goldman Sachs ActiveBeta Emerging Markets Equity ETF

GEM tracks an index of emerging market stocks comprising 4 subindexes: value, momentum, quality and low volatility. The index uses multiple factors to pick stocks, and each subindex receives equal weight.


Rules-Based, Diverse

MANAGEMENT MATRIX

DBEM

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGoldman Sachs
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateSep 25, 2015
Assets (mns)$938
Expense ratio45 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
TAIWAN SEMICONDUCTOR MANUFAC 6.7 %
SAMSUNG ELECTRONICS CO LTD 3.4 %
TENCENT HOLDINGS LTD 2.8 %
ALIBABA GROUP HOLDING LTD. 1.7 %
RELIANCE INDUSTRIES LTD 1.0 %
INFOSYS TECHNOLOGIES LTD 0.9 %
PINDUODUO, INC. SPONSORED ADR CLASS A 0.7 %
TATA CONSULTANCY SVS LTD 0.7 %
CHINA CONSTRUCTION BANK-H 0.7 %
MEDIATEK INC 0.7 %
Constituent Breakdown
Number of holdings761
Herfindahl-Hirschman Index 87
Wgt avg mkt cap (mns)$104,651
Large cap (>$10bn)69.2%
Mid cap ($2-10bn)29.7%
Small cap (<$2bn)0.4%
Developed mkts.4.6%
Emerging mkts.95.4%
Country Exposure
CHINA 27.2 %
INDIA 16.6 %
TAIWAN 16.3 %
SOUTH KOREA 11.9 %
BRAZIL 5.4 %
SAUDI ARABIA 4.1 %
SOUTH AFRICA 2.7 %
MEXICO 2.6 %
INDONESIA 1.8 %
HONG KONG 1.7 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 10.2% -3.6% -5.0% 1.7% -- 5.5%
Market Correlations
versus...BetaR-squared
S&P 5000.6649%
MSCI EAFE0.8675%
MSCI Emg Mkts0.9497%
Liquidity Measures
Avg. volume (000)94
Turnover0.3%
Avg. Bid/Ask (% of price)0.12%
ADV of underlying (mns)$40,632
Technical Indicators
Recent close$31.26
30d moving avg.$29.57
Annualized volatility17.0%
Relative strength (RSI)64
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)

Risk and Returns: GEM 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 -- -- -- -- -- -- --
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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 --%
1.0 10.4 1.3 3.3% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
GEM



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™

GEM

8.7%

Cat. Avg

6.2%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.7%
Recommendation

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

Category Overview
There are 165 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 6.2% and a standard deviation of 4.9%. GEM's ALTAR Score™ is approximately 0.5 standard deviations above the category average. This places GEM in the 69th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
GEM
Peer Average
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)
GEM 45.0 11.6 56.6
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.