GVIP Fees and Costs — Goldman Sachs Hedge Industry VIP ETF
Data updated: 2026-07-24
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $108K in broker commissions, 0.0335% of average net assets, and portfolio turnover was 137%.
GVIP Fees and Expenses
Annual operating expenses and sales charges of GVIP. 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 | — |
| Net expense ratio | 0.45% |
| 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 |
GVIP Costs Over Time
On $10,000 invested in GVIP, assuming 5% a year before costs, total costs come to $306 over 5 years, cutting the return by 0.51% 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 0.45%) | $47 | $148 | $258 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $167 | $306 |
| Value after costs | $10,449 | $11,409 | $12,457 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
GVIP 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): 0.0335%
- Total broker commissions: $108K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 137%
- Securities on loan, average value: $3.4M
- Net income from securities lending: $485K (0.150% of average net assets)
GVIP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $42K | 38.91% |
| MORGAN STANLEY & CO. LLC | $30K | 27.26% |
| RBC CAPITAL MARKETS, LLC | $28K | 25.92% |
| CITIGROUP GLOBAL MARKETS INC. | $8K | 7.08% |
| INSTINET, LLC | $841 | 0.78% |
| J.P. MORGAN SECURITIES LLC | $46 | 0.04% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.