GSEU
Goldman Sachs ActiveBeta Europe Equity ETF
The Goldman Sachs ActiveBeta Europe Equity ETF tracks an index of developed Europe large- and midcap equities, with equal weights to each of 4 factor buckets and stocks within each bucket weighted by a factor score.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
72.7 M
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 02, 2016 |
| Assets (mns) | $73 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVO NORDISK A/S-B | 3.6 % |
| ASML HOLDING NV | 2.8 % |
| ROCHE HOLDING AG-BR | 2.3 % |
| NESTLE SA-REG | 1.9 % |
| NOVARTIS AG | 1.9 % |
| ASTRAZENECA PLC | 1.8 % |
| SHELL PLC | 1.6 % |
| SAP AG | 1.6 % |
| LVMH MOET HENNESSY LOUIS VUI | 1.5 % |
| TOTAL SA | 1.2 % |
Constituent Breakdown
| Number of holdings | 364 |
| Herfindahl-Hirschman Index | 77 |
| Wgt avg mkt cap (mns) | $91,248 |
| Large cap (>$10bn) | 84.8% |
| Mid cap ($2-10bn) | 12.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
BRITAIN | 21.1 % |
 |
FRANCE | 16.8 % |
 |
SWITZERLAND | 14.7 % |
 |
GERMANY | 13.9 % |
 |
NETHERLANDS | 8.0 % |
 |
DENMARK | 5.3 % |
 |
ITALY | 4.8 % |
 |
SWEDEN | 4.4 % |
 |
SPAIN | 4.1 % |
 |
FINLAND | 1.3 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 0.9% | 5.7% | 9.6% | 1.8% | 5.4% | -- | 6.4% | Volatility | 12.8% | 12.8% | 14.5% | 18.0% | 20.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.93 | 71% |
| MSCI EAFE | 1.09 | 97% |
| MSCI Emg Mkts | 0.84 | 57% |
Liquidity Measures
| Avg. volume (000) | 25 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $17,558 |
Technical Indicators
| Recent close | $34.64 |
| 30d moving avg. | $35.74 |
| Annualized volatility | 19.3% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 1.2% |
| 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. GSEU |
Expenses vs. GSEU |
ALTAR Score™ vs. GSEU |
|---|---|---|---|---|
| DBEU | Xtrackers MSCI Europe Hedged Equity ETF | 74.7% | +21 bp | -0.6% |
| BBEU | JPMorgan BetaBuilders Europe ETF | 72.8% | -16 bp | -0.1% |
| FLEE | Franklin FTSE Europe ETF | 70.6% | -16 bp | +0.1% |
| IEV | iShares Europe ETF | 67.5% | +42 bp | -0.5% |
| IEUR | iShares Core MSCI Europe ETF | 64.9% | -14 bp | 0.0% |
| SPEU | SPDR Portfolio Europe ETF | 63.7% | -18 bp | -0.1% |
| VGK | Vanguard FTSE Europe ETF | 63.0% | -14 bp | -0.1% |
| GSIE | Goldman Sachs ActiveBeta International Equity ETF | 57.5% | 0 bp | +0.2% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 56.8% | +11 bp | -0.4% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 54.1% | -5 bp | -0.1% |
Risk and Returns: GSEU 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 12/20/2024
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
GSEU
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™
GSEU
7.2%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.7%. GSEU's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places GSEU in the 45th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GSEUSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| GSEU (25 bp) Percentile rank | 23 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GSEU | 25.0 | 11.2 | 36.2 |
| Peer Avg. | 35.6 | 19.0 | 54.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .