GSLC

Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF

GSLC tracks an index of US large-cap stocks comprising 4 subindexes: value, momentum, quality and low volatility. The index uses multiple factors to pick stocks, and each subindex receives equal weight.


US

EQUITY

Passive

MANAGEMENT STYLE

9 bp

EXPENSES

$12.6 B

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGoldman Sachs
CategoryUS
Asset classEquity
Websitelink...
Inception dateSep 17, 2015
Assets (mns)$12,644
Expense ratio9 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
MICROSOFT CORP 6.4 %
APPLE INC 6.2 %
NVIDIA CORP 6.1 %
AMAZON.COM INC 3.1 %
META PLATFORMS INC 2.5 %
ALPHABET INC. CLASS A 2.1 %
ALPHABET INC. CLASS C 1.9 %
ELI LILLY & CO 1.5 %
BROADCOM INC. 1.3 %
BERKSHIRE HATHAWAY INC-CL B 1.0 %
Constituent Breakdown
Number of holdings447
Herfindahl-Hirschman Index 166
Wgt avg mkt cap (mns)$777,130
Large cap (>$10bn)99.8%
Mid cap ($2-10bn)0.1%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 97.3 %
IRELAND 1.2 %
Historical Performance


Standardized Performance (as of 06/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 14.7% 24.6% 21.4% 9.2% 14.5% -- 14.0%
Volatility 11.1% 11.2% 16.3% 16.9% 20.7% -- --
Market Correlations
versus...BetaR-squared
S&P 5000.9899%
MSCI EAFE0.8875%
MSCI Emg Mkts0.6339%
Liquidity Measures
Avg. volume (000)202
Turnover0.2%
Avg. Bid/Ask (% of price)0.03%
ADV of underlying (mns)$486,908
Technical Indicators
Recent close$109.80
30d moving avg.$103.00
Annualized volatility17.7%
Relative strength (RSI)63
Short interest (ETF)0.1%
Short interest (underlying)1.9%
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: GSLC 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 --%
2.3 20.2 3.7 1.2% --
Based on closing prices from 7/12/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
GSLC



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™

GSLC

5.5%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.5%
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 899 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.5%. GSLC's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places GSLC in the 47th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
GSLC
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown
Expense Analysis

Peer Group Passive
US Equity ETFs
# of ETFs 192
Avg. Expense Ratio 31.0 bp
Std. Deviation 25.7 bp
GSLC (9 bp) Percentile rank 19
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
GSLC 9.0 2.7 11.7
Peer Avg. 24.7 9.9 34.6
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .