GEM Fees and Costs — Goldman Sachs ActiveBeta(R) Emerging Markets Equity ETF
Data updated: 2026-09-18
The net expense ratio is 0.35%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $298K in broker commissions, 0.0314% of average net assets, and portfolio turnover was 32%.
GEM Fees and Expenses
Annual operating expenses and sales charges of GEM. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.35% |
| Fee waiver | −0.24% |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GEM Costs Over Time
On $10,000 invested in GEM, assuming 5% a year before costs, total costs come to $242 over 5 years, cutting the return by 0.40% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.35%) | $37 | $115 | $201 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $132 | $242 |
| Value after costs | $10,460 | $11,444 | $12,521 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
GEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0314%
- Total broker commissions: $298K
- Bought from dealers (principal trades, not a cost): $13K
- Portfolio turnover (prospectus): 32%
- Securities on loan, average value: $7.1M
- Net income from securities lending: $80K (0.008% of average net assets)
GEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $44K | 17.21% |
| CITIGROUP GLOBAL MARKETS INC. | $43K | 16.75% |
| MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED | $37K | 14.52% |
| UBS Securities LLC | $25K | 9.64% |
| J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED | $24K | 9.52% |
| BOFA SECURITIES, INC. | $21K | 8.37% |
| J.P. MORGAN SECURITIES LLC | $18K | 7.11% |
| CITIGROUP GLOBAL MARKETS INDIA PRIVATE LIMITED | $16K | 6.42% |
| CITIGROUP GLOBAL MARKETS LIMITED | $14K | 5.47% |
| Morgan Stanley Taiwan Limited | $13K | 4.99% |
GEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED | $13K | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.