Goldman Sachs Defensive Equity ETF
Data updated: 2024-07-29
C000238214 — Goldman Sachs Defensive Equity ETF. United States Large Cap Blend / Core Equity · $7.33M AUM. Holdings, fees, performance and SEC filings.
C000238214 Fund Overview
Goldman Sachs Defensive Equity ETF is a US ETF managed by Goldman Sachs ETF Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Goldman Sachs ETF Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $7.33M
- 1-year return: 10.9%
- SEC CIK: 0001479026
- SEC series ID: S000077725
- Share class ID: C000238214
C000238214 Investment Objective and Strategy
Goldman Sachs Defensive Equity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Goldman Sachs ETF Trust.
Investment objective
The Goldman Sachs Defensive Equity ETF (the Fund) seeks long-term growth of capital with lower volatility than equity markets.
Principal investment strategy
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (Net Assets) in a diversified portfolio of equity securities and other instruments with similar economic exposures. The Fund will typically invest in equity securities of U.S. issuers with public stock market capitalizations between $150 million and $3 trillion and employ a Put Spread Collar overlay strategy. The Fund uses a variety of quantitative techniques, in combination with a qualitative overlay, when selecting investments. The Fund may make investment decisions that deviate from those generated by the Investment Advisers proprietary models, at the discretion of the Investment Adviser. In addition, the Investment Adviser may, in its discretion, make changes to its quantitative techniques, or use other quantitative techniques that are based on the Investment Advisers proprietary research.
The Fund constructs a Put Spread Collar by buying a put option on an index or exchange-traded fund (ETF) at a higher strike price and writing (or selling) a put option on the same index or ETF at a relatively lower strike price, resulting in what is known as a put option spread, while simultaneously selling a call option on that index or ETF. For this purpose, the Fund may also use options on futures referencing an index. The difference between strike prices in the put option spread is designed to provide the Fund with downside protection to the extent of the difference between the strike prices of the near-the-money put option bought and the out-of-the-money put option sold. In addition to the use of the Put Spread Collar strategy described above, the Fund may use future contracts, primarily futures on indexes, options on futures, and total return swaps to more effectively gain targeted equity exposure from its cash positions and to hedge the Funds portfolio if it is unable to purchase or write the necessary options for its overlay strategy.
Derivative positions may be listed or over-the-counter (OTC) and may or may not be centrally cleared. As the seller of call options, the Fund will receive cash (the premium) from the purchaser. If the purchaser exercises the option, the Fund pays the purchaser the difference between the price of the underlying asset and the exercise price of the option. Additionally, as the seller of put options, the Fund will also receive a premium from the purchaser. If the purchaser exercises the option, the Fund pays the purchaser the difference between the exercise price of the option and the price of the underlying asset. The premium, the exercise price and the market price of the underlying asset determine the gain or loss realized by the Fund as the seller of call and put options. During periods in which the U.S.
equity markets are generally unchanged or falling, a diversified portfolio with limited downside protection from its put spread collar strategy may outperform the same portfolio without such an options strategy. However, in strong rising markets where the aggregate appreciation of the underlying asset exceeds the exercise price of the short call, a portfolio with a put spread collar strategy could significantly underperform the same portfolio without these options. The Funds investments in fixed income securities are limited to cash equivalents (including money market funds) and U.S. Treasury Securities. The Fund is an actively managed ETF, which is a fund that trades like other publicly-traded securities. The Fund is not an index fund and does not seek to replicate the performance of a specified index.
C000238214 Holdings
Top 10 holdings of Goldman Sachs Defensive Equity ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Goldman Sachs Financial Square Treasury Obligations Fund | 7.70% |
| Microsoft Corp | 5.78% |
| Apple Inc | 5.39% |
| NVIDIA Corp | 4.85% |
| Alphabet Inc | 3.62% |
| Berkshire Hathaway Inc | 1.11% |
| Visa Inc | 1.09% |
| Exxon Mobil Corp | 1.04% |
| UnitedHealth Group Inc | 0.91% |
| Johnson & Johnson | 0.90% |
C000238214 Portfolio Allocation
Asset-class allocation of Goldman Sachs Defensive Equity ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 88.9% |
| Cash & Equivalents | 7.7% |
C000238214 Performance
Total returns for C000238214 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.9% |
C000238214 Risk Information
Risk metrics for C000238214, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.8%
C000238214 Costs and Fees
C000238214 costs about $55 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.55%
- Gross expense ratio: 0.55%
- Portfolio turnover: 160%
- Brokerage commissions: 2.02 bps of average net assets (SEC N-CEN)
C000238214 Cashflows
Over the 12 months to 2024-05, Goldman Sachs Defensive Equity ETF had net inflows of $2.23M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-05 | $0 |
| 2024-04 | $0 |
| 2024-03 | $0 |
| 2024-02 | $0 |
| 2024-01 | $0 |
| 2023-12 | $0 |
C000238214 Debt Constituents
No individual debt constituents are reported in Goldman Sachs Defensive Equity ETF's latest SEC N-PORT filing.
C000238214 Prospectus and SEC Filings
Official Goldman Sachs Defensive Equity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-12-27
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus supplement (497) — filed 2023-01-23
- Portfolio holdings (N-PORT) — filed 2024-07-29
- Portfolio holdings (N-PORT) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2024-01-25
- Annual census (N-CEN) — filed 2023-11-13
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.