GSIE
Goldman Sachs ActiveBeta International Equity ETF
GSIE tracks an index of stocks in developed markets outside of the US comprising 4 subindexes: value, momentum, quality and low volatility. The index uses multiple factors to pick stocks, and each subindex receives equal weight.
International
EQUITY
Passive
MANAGEMENT STYLE
3.5 B
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Fund sponsor | Goldman Sachs |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 06, 2015 |
| Assets (mns) | $3,495 |
| 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 | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVO NORDISK A/S-B | 2.1 % |
| ASML HOLDING NV | 1.4 % |
| ROCHE HOLDING AG-BR | 1.3 % |
| NESTLE SA-REG | 1.0 % |
| NOVARTIS AG | 1.0 % |
| ASTRAZENECA PLC | 0.9 % |
| LVMH MOET HENNESSY LOUIS VUI | 0.9 % |
| SAP AG | 0.9 % |
| SHELL PLC | 0.9 % |
| ROYAL BANK OF CANADA | 0.7 % |
Constituent Breakdown
| Number of holdings | 704 |
| Herfindahl-Hirschman Index | 33 |
| Wgt avg mkt cap (mns) | $66,864 |
| Large cap (>$10bn) | 78.9% |
| Mid cap ($2-10bn) | 19.5% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.2% |
Country Exposure
 |
JAPAN | 20.5 % |
 |
BRITAIN | 12.0 % |
 |
CANADA | 10.6 % |
 |
FRANCE | 9.8 % |
 |
SWITZERLAND | 8.4 % |
 |
GERMANY | 8.0 % |
 |
AUSTRALIA | 5.4 % |
 |
NETHERLANDS | 4.4 % |
 |
ITALY | 3.0 % |
 |
DENMARK | 3.0 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.5% | 13.8% | 11.8% | 3.8% | 6.1% | -- | 6.5% | Volatility | 12.4% | 12.4% | 13.8% | 16.3% | 19.2% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.86 | 76% |
| MSCI EAFE | 0.98 | 97% |
| MSCI Emg Mkts | 0.78 | 62% |
Liquidity Measures
| Avg. volume (000) | 429 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $45,354 |
Technical Indicators
| Recent close | $33.35 |
| 30d moving avg. | $34.46 |
| Annualized volatility | 17.3% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.8% |
| 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. GSIE |
Expenses vs. GSIE |
ALTAR Score™ vs. GSIE |
|---|---|---|---|---|
| BKIE | BNY Mellon International Equity ETF | 66.3% | -21 bp | -0.1% |
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 64.3% | +11 bp | -0.6% |
| HFXI | IQ FTSE International Equity Currency Neutral ETF | 62.8% | -5 bp | 0.0% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 61.7% | -5 bp | -0.3% |
| EFA | iShares MSCI EAFE ETF | 61.4% | +10 bp | -0.2% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 60.0% | -21 bp | +0.0% |
| JHMD | John Hancock Multifactor Developed International ETF | 59.8% | +14 bp | +0.6% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 58.6% | -22 bp | 0.0% |
| IEFA | iShares Core MSCI EAFE ETF | 58.1% | -18 bp | 0.0% |
| SCHF | Schwab International Equity ETF | 57.6% | -19 bp | +0.4% |
Risk and Returns: GSIE 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
GSIE
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™
GSIE
7.3%
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%. GSIE's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places GSIE in the 47th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GSIESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| GSIE (25 bp) Percentile rank | 25 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GSIE | 25.0 | 3.5 | 28.5 |
| Peer Avg. | 26.6 | 13.3 | 39.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .