GSAM launches global ex-US ‘MarketBeta’ ETF

Jun 9th, 2023 | By | Category: Equities

Goldman Sachs Asset Management has expanded its ‘MarketBeta’ suite of low-cost, core portfolio ETFs with the launch of a new fund providing global equities exposure, excluding stocks listed in the US.

GSAM launches global ex-US ‘MarketBeta’ ETF

Goldman Sachs’ ‘MarketBeta’ ETFs are designed to provide low-cost core portfolio exposures.

The Goldman Sachs MarketBeta Total International Equity ETF (GXUS US) has been listed on NYSE Arca, coming to market with $400 million in initial assets.

GXUS tracks the Solactive GBS Global ex-United States Large & Mid Cap Index which consists of large and mid-cap stocks from non-US developed and emerging countries. The index covers approximately the largest 85% of the total market capitalization in each country.

Constituents are weighted by float-adjusted market capitalization, and the index is rebalanced on a quarterly basis with buffer rules helping to limit unnecessary turnover.

The ETF may be viewed as a direct competitor to the $56.6 billion Vanguard Total International Stock ETF (VXUS US) and the $30.8bn iShares Core MSCI Total International Stock ETF (IXUS US), both of which deliver non-US global equities exposure. GXUS may struggle to seriously compete with these well-established ETFs, however, as both VXUS and IXUS come with expense ratios of 0.07%, while GXUS is currently priced at 0.19%.

Goldman Sachs offers a further four ETFs within its MarketBeta suite including two US equity strategies and two funds that individually target developed ex-US or emerging market equities.

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