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.
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 01, 2016 |
| Assets (mns) | $171 |
| 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
| ADVANCED MICRO DEVICES | 2.2 % |
| NVIDIA CORP | 2.2 % |
| BROADCOM INC. | 2.2 % |
| SALESFORCE.COM INC | 2.1 % |
| VERTIV HOLDINGS CO. CLASS A | 2.1 % |
| GENERAL ELECTRIC COMPANY | 2.1 % |
| TEMPUR-PEDIC INTERNATIONAL | 2.1 % |
| TENET HEALTHCARE CORP | 2.1 % |
| BUILDERS FIRSTSOURCE INC | 2.1 % |
| API GROUP CORPORATION | 2.1 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 195 |
| Wgt avg mkt cap (mns) | $411,448 |
| Large cap (>$10bn) | 92.0% |
| Mid cap ($2-10bn) | 8.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 94.1% |
| Emerging mkts. | 5.9% |
Country Exposure
 |
UNITED STATES | 88.1 % |
 |
TAIWAN | 2.0 % |
 |
CHINA | 2.0 % |
 |
IRELAND | 2.0 % |
 |
BRITAIN | 1.9 % |
 |
ARGENTINA | 1.8 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 10.2% | 38.2% | 7.4% | 4.1% | 13.6% | -- | 13.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.03 | 89% |
| MSCI EAFE | 0.91 | 65% |
| MSCI Emg Mkts | 0.70 | 40% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $106,895 |
Technical Indicators
| Recent close | $103.53 |
| 30d moving avg. | $91.52 |
| Annualized volatility | 19.4% |
| Relative strength (RSI) | 80 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 2.8% |
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. GVIP |
Expenses vs. GVIP |
ALTAR Score™ vs. GVIP |
|---|---|---|---|---|
| MTUM | iShares MSCI USA Momentum Factor ETF | 30.3% | -30 bp | -1.0% |
| AMOM | Qraft AI-Enhanced U.S. Large Cap Momentum ETF | 30.3% | +30 bp | -0.9% |
| XNTK | SPDR NYSE Technology ETF | 30.1% | -10 bp | -0.8% |
| PWB | Invesco Large Cap Growth ETF | 29.7% | +11 bp | -1.6% |
| FDMO | Fidelity Momentum Factor ETF | 28.2% | -30 bp | -1.0% |
| SCHG | Schwab U.S. Large-Cap Growth ETF | 27.4% | -41 bp | -0.4% |
| JGRO | JPMorgan Active Growth ETF | 26.8% | -1 bp | -1.3% |
| CGGR | Capital Group Growth ETF | 26.7% | -6 bp | -1.3% |
| STXG | Strive 1000 Growth ETF | 26.4% | -27 bp | -0.5% |
| SPMO | Invesco S&P 500 Momentum ETF | 26.4% | -32 bp | -1.0% |
Risk and Returns: GVIP 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 | --% |
Based on closing prices from 4/18/2024
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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
GVIP
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™
GVIP
4.7%
Cat. Avg
5.9%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.7% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 886 funds in the US Equities category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.7%. GVIP's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places GVIP in the 33rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
GVIP
Peer Average
Recent Trends
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) |
|
|---|---|---|---|
| GVIP | 45.0 | 17.2 | 62.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .