Goldman Sachs Asset Management Launches Equal Weight U.S. Large Cap Equity Exchange-Traded Fund
NEW YORK, September 14, 2017 – GSAM today launched GSEW, an exchange-traded fund (“ETF”) that seeks to track an equal weight index consisting of approximately 500 of the largest U.S. equities. It is the 11th ETF launched by GSAM and is competitively priced to investors at 9 basis points.1
“GSEW seeks to help investors looking for a low cost way to avoid market cap biases, by allocating evenly to the largest U.S. companies, independent of their relative size,” said Michael Crinieri, GSAM’s Global Head of ETF Strategy.
GSEW seeks to track the Solactive US Large Cap Equal Weight Index (GTR) (the “Index”) and will be passively managed by GSAM’s Quantitative Investment Strategies team.2 The Index employs systematic monthly rebalancing to efficiently track the movement of the largest U.S. companies.
“Building on the market-cap-weighted Solactive US Large Cap Index, the Solactive US Large Cap Equal Weight Index (GTR) provides an equal weight version of that benchmark and an innovative solution to help investors potentially avoid excessive concentration into larger U.S. companies,” said Steffen Scheuble, CEO of Solactive AG. “We’re excited to once again serve as an index provider to a GSAM ETF through the creation of such a timely and distinct index.”
GSAM ETF Background
- GSAM started offering ETFs in September 2015 with the launch of the Goldman Sachs ActiveBeta® U.S. Large Cap Equity ETF (Ticker: GSLC). It now has 11 ETFs with over $5.6 billion in assets under management as of August 31, 2017.
- GSAM most recently launched the Goldman Sachs Access High Yield Corporate Bond ETF (Ticker: GHYB) and the Goldman Sachs ActiveBeta® U.S. Small Cap Equity ETF (Ticker: GSSC) in September and June 2017, respectively.
- In February 2017, GSAM earned the ETF Achievement Award by Fund Action.3 GSAM was named the Most Innovative Issuer by ETF.com and GSLC was recognized as the Best New US Equity ETF and the Best New Smart Beta/Factor ETF in 2016.4
