GVIP
Goldman Sachs Hedge Industry VIP ETF
The Goldman Sachs Hedge Industry VIP ETF tracks an equal-weighted index of the 50 most-frequently held US companies selected from the portfolios of hedge funds.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
315.3 M
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 01, 2016 |
| Assets (mns) | $315 |
| Expense ratio | 45 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 2.6 % |
| PFIZER INC | 2.4 % |
| BERKSHIRE HATHAWAY INC-CL B | 2.4 % |
| ELI LILLY & CO | 2.4 % |
| ARTHUR J GALLAGHER & CO | 2.3 % |
| HESS CORP | 2.3 % |
| KELLOGG CO | 2.3 % |
| TEMPUR-PEDIC INTERNATIONAL | 2.3 % |
| AERCAP HOLDINGS NV | 2.3 % |
| WORKDAY INC-CLASS A | 2.3 % |
Constituent Breakdown
| Number of holdings | 51 |
| Herfindahl-Hirschman Index | 206 |
| Wgt avg mkt cap (mns) | $456,814 |
| Large cap (>$10bn) | 89.0% |
| Mid cap ($2-10bn) | 7.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 83.9% |
| Emerging mkts. | 8.9% |
Country Exposure
 |
UNITED STATES | 75.7 % |
 |
IRELAND | 6.2 % |
 |
CHINA | 2.6 % |
 |
ARGENTINA | 2.2 % |
 |
SOUTH KOREA | 2.1 % |
 |
TAIWAN | 2.0 % |
 |
LUXEMBOURG | 1.9 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -2.9% | 14.4% | 24.7% | 13.9% | 15.7% | -- | -- | 14.1% |
| Dividend Yield | 0.0% | 0.0% | 0.5% | 0.3% | 0.2% | -- | -- | 0.4% |
| Total Returns | -2.9% | 14.4% | 25.2% | 14.2% | 15.9% | -- | -- | 14.5% | Ann. Volatility | 35.5% | 24.5% | 19.7% | 22.2% | 22.1% | -- | -- | 22.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 89% |
| MSCI EAFE | 0.79 | 53% |
| MSCI Emg Mkts | 0.59 | 30% |
Liquidity Measures
| Avg. volume (000) | 14 |
| ADV traded (mns) | $2 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.17% |
Technical Indicators
| Recent close | $124.97 |
| 30d moving avg. | $116.17 |
| Annualized volatility | 18.4% |
| Relative strength (RSI) | 51 |
| Short interest | 0.2% |
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. |
|---|---|---|---|---|
| PWB | Invesco Large Cap Growth ETF | 32.8% | +11 bp | +3.1% |
| IVW | iShares S&P 500 Growth ETF | 28.8% | -27 bp | +4.4% |
| VOOG | Vanguard S&P 500 Growth ETF | 28.7% | -35 bp | +4.5% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 28.7% | -41 bp | +4.6% |
| BGRO | iShares Large Cap Growth Active ETF | 28.5% | +10 bp | +3.5% |
| IUSG | iShares Core S&P U.S. Growth ETF | 28.3% | -41 bp | +4.6% |
| CAML | Congress Large Cap Growth ETF | 27.7% | +21 bp | +3.4% |
| USMC | Principal U.S. Mega-Cap ETF | 27.7% | -33 bp | +4.9% |
| MGK | Vanguard Mega Cap Growth ETF | 27.3% | -38 bp | +4.5% |
| ILCG | iShares Morningstar Growth ETF | 27.2% | -41 bp | +4.1% |
Risk and Returns: 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 5/9/2025
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
3.6%
Cat. Avg
6.0%
ALTAR Score™ Calculation
Category Overview
There are 930 funds in the US Equity category, with an average ALTAR Score™
of 6.0% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places in the 14th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GVIPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| (45 bp) Percentile rank | 49 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 45.0 | 0.0 | 45 | |
| Peer Avg. | 36.6 | 15.1 | 51.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .