GSEE Fees and Costs — Goldman Sachs MarketBeta Emerging Markets Equity ETF
Data updated: 2026-07-24
The net expense ratio is 0.36% (0.45% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0103% of average net assets, and portfolio turnover was 8%.
GSEE Fees and Expenses
Annual operating expenses and sales charges of GSEE. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.36% |
| 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 |
GSEE Costs Over Time
On $10,000 invested in GSEE, assuming 5% a year before costs, total costs come to $235 over 5 years, cutting the return by 0.39% 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 0.36%) | $38 | $119 | $207 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $128 | $235 |
| Value after costs | $10,461 | $11,448 | $12,528 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
GSEE 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): 0.0103%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $4K
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $759K
- Net income from securities lending: $27K (0.024% of average net assets)
GSEE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED | $3K | 27.77% |
| MORGAN STANLEY & CO. LLC | $2K | 17.72% |
| J.P. Morgan Securities LLC | $1K | 11.92% |
| MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED | $1K | 9.91% |
| CITIGROUP GLOBAL MARKETS INC. | $878 | 8.20% |
| CITIGROUP GLOBAL MARKETS INDIA PRIVATE LIMITED | $852 | 7.95% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $606 | 5.66% |
| Morgan Stanley Taiwan Limited | $498 | 4.65% |
| MORGAN STANLEY & CO. INTERNATIONAL PLC-SEOUL BRANCH | $347 | 3.24% |
| CITIGROUP GLOBAL MARKETS TAIWAN SECURITIES COMPANY LIMITED | $321 | 2.99% |
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.