GSEU

Goldman Sachs ActiveBeta Europe Equity ETF

The Goldman Sachs ActiveBeta Europe Equity ETF tracks an index of developed Europe large- and midcap equities, with equal weights to each of 4 factor buckets and stocks within each bucket weighted by a factor score.


International

EQUITY

Rules-Based

MANAGEMENT STYLE

25 bp

EXPENSES

$12.8 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGoldman Sachs
CategoryInternational
Asset classEquity
Websitelink...
Inception dateMar 02, 2016
Assets (mns)$13
Expense ratio25 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
NOVO NORDISK A/S-B 4.1 %
ASML HOLDING NV 3.2 %
NESTLE SA-REG 2.1 %
ROCHE HOLDING AG-BR 2.0 %
ASTRAZENECA PLC 1.9 %
NOVARTIS AG 1.8 %
LVMH MOET HENNESSY LOUIS VUI 1.6 %
SHELL PLC 1.6 %
SAP AG 1.5 %
TOTAL SA 1.2 %
Constituent Breakdown
Number of holdings366
Herfindahl-Hirschman Index 75
Wgt avg mkt cap (mns)$109,575
Large cap (>$10bn)89.6%
Mid cap ($2-10bn)10.0%
Small cap (<$2bn)0.1%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
BRITAIN 20.7 %
FRANCE 16.4 %
SWITZERLAND 14.2 %
GERMANY 13.4 %
NETHERLANDS 8.1 %
DENMARK 5.8 %
ITALY 4.4 %
SPAIN 4.1 %
SWEDEN 4.0 %
FINLAND 1.2 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 4.5% 15.4% 10.1% 2.1% 8.0% -- 7.2%
Volatility 11.6% 12.5% 17.4% 17.7% 20.7% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9779%
MSCI EAFE1.1195%
MSCI Emg Mkts0.8456%
Liquidity Measures
Avg. volume (000)12
Turnover3.5%
Avg. Bid/Ask (% of price)0.11%
ADV of underlying (mns)$19,555
Technical Indicators
Recent close$37.25
30d moving avg.$37.00
Annualized volatility19.6%
Relative strength (RSI)57
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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Risk and Returns: GSEU vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value 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 --%
1.1 12.8 1.7 3.5% --
Based on closing prices from 6/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
GSEU



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™

GSEU

7.2%

Cat. Avg

7.2%

Fund Category: International

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™7.2%
Recommendation

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

Category Overview
There are 256 funds in the International category, with an average ALTAR Score™ of 7.2% and a standard deviation of 2.4%. GSEU's ALTAR Score™ is approximately 0.0 standard deviations above the category average. This places GSEU in the 51st percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
GSEU
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)
GSEU 25.0 11.2 36.2
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .