GDEF
Goldman Sachs Defensive Equity ETF
GDEF seeks capital growth by holding a portfolio of US large-cap equities while utilizing a naked put spread collar strategy on the S&P 500 Index. The fund is actively managed.
US
EQUITY
Active
MANAGEMENT STYLE
7.1 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 30, 2020 |
| Assets (mns) | $7 |
| Expense ratio | 55 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| 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
| APPLE INC | 6.3 % |
| MICROSOFT CORP | 6.1 % |
| NVIDIA CORP | 5.2 % |
| ALPHABET INC. CLASS A | 3.6 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.2 % |
| UNITEDHEALTH GROUP INC | 1.1 % |
| EXXON MOBIL CORP | 1.1 % |
| VISA INC. CLASS A | 1.1 % |
| JOHNSON & JOHNSON | 1.0 % |
| HOME DEPOT INC | 1.0 % |
Constituent Breakdown
| Number of holdings | 270 |
| Herfindahl-Hirschman Index | 148 |
| Wgt avg mkt cap (mns) | $661,857 |
| Large cap (>$10bn) | 98.2% |
| Mid cap ($2-10bn) | 1.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
UNITED STATES | 90.7 % |
 |
IRELAND | 1.5 % |
 |
BRITAIN | 1.2 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 5.8% | 5.7% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.42 | 72% |
| MSCI EAFE | 0.33 | 52% |
| MSCI Emg Mkts | 0.26 | 27% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.37% |
| ADV of underlying (mns) | $166,870 |
Technical Indicators
| Recent close | $48.49 |
| 30d moving avg. | $48.28 |
| Annualized volatility | 7.1% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.1% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GDEF |
Expenses vs. GDEF |
ALTAR Score™ vs. GDEF |
|---|---|---|---|---|
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 59.9% | -48 bp | +0.3% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 59.7% | -55 bp | +0.3% |
| CVLC | Calvert US Large-Cap Core Responsible Index ETF | 59.5% | -40 bp | +0.3% |
| VOTE | TCW Transform 500 ETF | 59.4% | -50 bp | +0.3% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 59.0% | -53 bp | +0.3% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 59.0% | -46 bp | +0.2% |
| STRV | Strive 500 ETF | 58.8% | -50 bp | +0.3% |
| VV | Vanguard Large-Cap ETF | 58.6% | -51 bp | +0.2% |
| IVV | iShares Core S&P 500 ETF | 58.5% | -52 bp | +0.4% |
| VOO | Vanguard S&P 500 ETF | 58.5% | -52 bp | +0.3% |
Risk and Returns: GDEF 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 7/19/2024
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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
GDEF
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
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.
ALTAR Score™
GDEF
4.7%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. GDEF's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places GDEF in the 38th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GDEFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| GDEF (55 bp) Percentile rank | 39 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GDEF | 55.0 | 36.7 | 91.7 |
| Peer Avg. | 35.7 | 15.0 | 50.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .