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
320.3 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) | $320 |
| 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
| FIRST CITIZENS BCSHS -CL A | 2.5 % |
| NVIDIA CORP | 2.4 % |
| APPLE INC | 2.3 % |
| TENET HEALTHCARE CORP | 2.3 % |
| WIX.COM LTD | 2.3 % |
| DISCOVER FINANCIAL SERVICES | 2.3 % |
| KKR & CO LP | 2.2 % |
| UNITED STATES STEEL CORP | 2.1 % |
| BERKSHIRE HATHAWAY INC-CL B | 2.1 % |
| APOLLO GLOBAL MANAGEMENT INC. | 2.1 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 202 |
| Wgt avg mkt cap (mns) | $448,713 |
| Large cap (>$10bn) | 91.5% |
| Mid cap ($2-10bn) | 8.5% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 90.6% |
| Emerging mkts. | 9.5% |
Country Exposure
 |
UNITED STATES | 82.0 % |
 |
IRELAND | 3.9 % |
 |
ISRAEL | 2.3 % |
 |
TAIWAN | 2.1 % |
 |
ARGENTINA | 1.9 % |
 |
SINGAPORE | 1.9 % |
 |
CHINA | 1.9 % |
 |
BRITAIN | 1.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 20.7% | 39.8% | 27.4% | 4.5% | 15.2% | -- | 14.0% | Volatility | 15.4% | 14.9% | 16.6% | 21.6% | 24.3% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 89% |
| MSCI EAFE | 0.87 | 64% |
| MSCI Emg Mkts | 0.69 | 39% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $128,051 |
Technical Indicators
| Recent close | $128.03 |
| 30d moving avg. | $120.91 |
| Annualized volatility | 19.3% |
| Relative strength (RSI) | 54 |
| 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 |
|---|---|---|---|---|
| CGGR | Capital Group Growth ETF | 30.2% | -6 bp | -1.5% |
| XNTK | SPDR NYSE Technology ETF | 29.9% | -10 bp | -0.6% |
| DYNF | BlackRock U.S. Equity Factor Rotation ETF | 29.5% | -15 bp | 0.0% |
| XLG | Invesco S&P 500 Top 50 ETF | 29.0% | -25 bp | -0.2% |
| FDMO | Fidelity Momentum Factor ETF | 28.7% | -30 bp | -0.8% |
| USMC | Principal U.S. Mega-Cap ETF | 28.6% | -33 bp | -0.3% |
| SCHG | Schwab U.S. Large-Cap Growth ETF | 28.1% | -41 bp | -0.5% |
| PWB | Invesco Large Cap Growth ETF | 28.0% | +11 bp | -1.5% |
| SFY | SoFi Select 500 ETF | 27.9% | -45 bp | -0.3% |
| OEF | iShares S&P 100 ETF | 27.8% | -25 bp | +0.0% |
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 11/26/2024
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
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 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™
GVIP
4.7%
Cat. Avg
5.3%
ALTAR Score™ Calculation
Category Overview
There are 976 funds in the US Equity category, with an average ALTAR Score™
of 5.3% and a standard deviation of
2.3%. GVIP's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places GVIP in the 40th 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 |
| GVIP (45 bp) Percentile rank | 48 |
Peer Group Expense Ratio Distribution
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. | 35.8 | 15.0 | 50.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .