GSPY
Gotham Enhanced 500 ETF
GSPY actively seeks long-term capital appreciation by reweighting the components of the S&P 500 Index based on proprietary fundamental research.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
648.2 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Gotham Asset Management Holdings |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 28, 2020 |
| Assets (mns) | $648 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| 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
Complete list +
| MICROSOFT CORP | 7.4 % |
| NVIDIA CORP | 7.1 % |
| APPLE INC | 6.2 % |
| ALPHABET INC. CLASS A | 4.8 % |
| AMAZON.COM INC | 4.5 % |
| META PLATFORMS INC | 3.6 % |
| BROADCOM INC. | 2.3 % |
| VISA INC. CLASS A | 1.9 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.8 % |
| TESLA MOTORS INC | 1.4 % |
Constituent Breakdown
| Number of holdings | 501 |
| Herfindahl-Hirschman Index | 234 |
| Wgt avg mkt cap (mns) | $1,262,096 |
| Large cap (>$10bn) | 99.0% |
| Mid cap ($2-10bn) | 0.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.2% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.6 % |
 |
IRELAND | 1.8 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 14.6% | 16.0% | 24.3% | 23.0% | -- | -- | -- | 13.6% |
| Dividend Yield | 0.0% | 0.9% | 1.2% | 1.3% | -- | -- | -- | 0.8% |
| Total Returns | 14.6% | 16.9% | 25.5% | 24.2% | -- | -- | -- | 14.4% | Ann. Volatility | 20.3% | 18.5% | 15.7% | 16.0% | -- | -- | -- | 16.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.01 | 101% |
| MSCI EAFE | 0.55 | 38% |
| MSCI Emg Mkts | 0.35 | 17% |
Liquidity Measures
| Avg. volume (000) | 7 |
| ADV traded (mns) | $0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $37.20 |
| 30d moving avg. | $36.39 |
| Annualized volatility | 13.4% |
| Relative strength (RSI) | 58 |
| Short interest | 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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| VOTE | TCW Transform 500 ETF | 78.0% | -45 bp | +4.8% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 77.6% | -48 bp | +4.8% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 77.6% | -50 bp | +4.8% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 77.4% | -43 bp | +4.7% |
| GUSA | Goldman Sachs MarketBeta U.S. 1000 Equity ETF | 75.6% | -39 bp | +4.8% |
| RAUS | RACWI US ETF | 74.8% | -35 bp | +4.9% |
| TOV | JLens 500 Jewish Advocacy U.S. ETF | 74.4% | -32 bp | +4.6% |
| EPS | WisdomTree U.S. LargeCap Fund | 74.2% | -42 bp | +5.6% |
| IVV | iShares Core S&P 500 ETF | 74.1% | -47 bp | +4.8% |
| SPY | SPDR S&P 500 ETF Trust | 74.1% | -41 bp | +4.8% |
Risk and Returns: GSPY 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 10/25/2025
Peer Group Comparison Sample data. Subscribe for access.
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
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™
GSPY
5.0%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 995 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. GSPY's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places GSPY in the 40th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GSPYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| GSPY (50 bp) Percentile rank | 55 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GSPY | 50.0 | 7.7 | 57.7 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .