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

31.8 M

ASSETS UNDER MGMT

25 bp

EXPENSES
Fund Basics
Fund sponsorGoldman Sachs
CategoryInternational
Asset classEquity
Websitelink...
Inception dateMar 02, 2016
Assets (mns)$32
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 3.6 %
ASML HOLDING NV 2.8 %
ROCHE HOLDING AG-BR 2.3 %
NESTLE SA-REG 1.9 %
NOVARTIS AG 1.9 %
ASTRAZENECA PLC 1.8 %
SHELL PLC 1.6 %
SAP AG 1.6 %
LVMH MOET HENNESSY LOUIS VUI 1.5 %
TOTAL SA 1.2 %
Constituent Breakdown
Number of holdings364
Herfindahl-Hirschman Index 77
Wgt avg mkt cap (mns)$105,391
Large cap (>$10bn)86.4%
Mid cap ($2-10bn)11.0%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
BRITAIN 21.1 %
FRANCE 16.8 %
SWITZERLAND 14.7 %
GERMANY 13.9 %
NETHERLANDS 8.0 %
DENMARK 5.3 %
ITALY 4.8 %
SWEDEN 4.4 %
SPAIN 4.1 %
FINLAND 1.3 %
Historical Performance


Standardized Performance (as of 09/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 8.6% 20.4% 26.0% 4.5% 8.0% -- 7.4%
Volatility 11.6% 12.5% 17.4% 17.7% 20.7% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9676%
MSCI EAFE1.0996%
MSCI Emg Mkts0.8860%
Liquidity Measures
Avg. volume (000)15
Turnover1.8%
Avg. Bid/Ask (% of price)0.11%
ADV of underlying (mns)$15,827
Technical Indicators
Recent close$37.68
30d moving avg.$37.89
Annualized volatility19.7%
Relative strength (RSI)57
Short interest (ETF)0.6%
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 -- -- -- -- -- -- --
  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 --%
1.1 12.4 1.6 3.7% --
Based on closing prices from 10/4/2024
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 Rating

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.

ALTAR Score™

GSEU

6.8%

Cat. Avg

7.0%


ALTAR Score™ Calculation

Category Overview
There are 257 funds in the International Equity category, with an average ALTAR Score™ of 7.0% and a standard deviation of 2.5%. GSEU's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places GSEU in the 47th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

GSEU
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
International Equity ETFs
# of ETFs 152
Avg. Expense Ratio 42.9 bp
Std. Deviation 24.3 bp
GSEU (25 bp) Percentile rank 23
Peer Group Expense Ratio Distribution


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. 35.7 19.0 54.7
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .