GSEU vs. ACWV ETF Comparison

Comparison of Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) to iShares MSCI All Country World Minimum Volatility Index Fund (ACWV)

GSEU

Goldman Sachs ActiveBeta Europe Equity ETF

GSEU Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs ActiveBeta® Europe Equity Index (the "index"). The fund seeks to achieve its investment objective by investing at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to deliver exposure to equity securities of developed markets issuers in Europe.

Grade (RS Rating)

Last Trade

$37.68

Average Daily Volume

20,342

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ACWV

iShares MSCI All Country World Minimum Volatility Index Fund

ACWV Description

The investment seeks to track the investment results of an index composed of developed and emerging market equities that, in the aggregate, have lower volatility characteristics relative to the broader developed and emerging equity markets. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. It seeks to track the underlying index, which has been developed by MSCI Inc. ("MSCI") to measure the combined performance of equity securities in both emerging and developed markets that in aggregate have lower volatility. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$114.16

Average Daily Volume

157,232

Number of Holdings ^*

138

* may have additional holdings in another (foreign) market

Performance

Period	GSEU	ACWV
30 Days	0.32%	0.72%
60 Days	7.35%	7.43%
90 Days	1.81%	8.44%
12 Months	24.15%	23.90%

1 Overlapping Holdings

	Symbol	Grade	Weight in GSEU	Weight in ACWV	Overlap
	ABBV	C	0.55%	0.55%	0.55%

GSEU Overweight 11 Positions Relative to ACWV

Symbol	Grade	Weight
NVS	D	1.9%
UL	D	0.87%
BCS	B	0.39%
LOGI	D	0.38%
E	C	0.36%
DEO	C	0.29%
STLA	F	0.24%
LYG	C	0.24%
QGEN	F	0.21%
AER	C	0.14%
CCEP	C	0.13%

GSEU Underweight 137 Positions Relative to ACWV

Symbol	Grade	Weight
TMUS	A	-1.72%
WMT	A	-1.69%
MSI	A	-1.66%
CSCO	A	-1.41%
WM	B	-1.36%
ROP	D	-1.3%
MRK	F	-1.2%
RSG	D	-1.11%
MCK	F	-1.11%
JNJ	D	-1.09%
PEP	F	-1.09%
VRTX	D	-1.06%
MCD	A	-1.02%
COR	F	-0.95%
ED	C	-0.9%
MMC	D	-0.88%
CB	A	-0.87%
BRK.A	B	-0.87%
DUK	C	-0.83%
PG	D	-0.83%
SO	A	-0.82%
PGR	B	-0.81%
VZ	C	-0.81%
UNH	B	-0.8%
REGN	D	-0.8%
NOC	B	-0.79%
KR	C	-0.78%
AZO	D	-0.77%
IBM	A	-0.76%
MSFT	D	-0.75%
GIS	C	-0.69%
WEC	B	-0.66%
ACGL	A	-0.64%
LLY	D	-0.57%
ORLY	A	-0.56%
K	B	-0.55%
CBOE	B	-0.54%
EA	D	-0.54%
GDDY	B	-0.53%
ELV	F	-0.53%
V	B	-0.52%
APH	D	-0.48%
ORCL	A	-0.48%
HSY	D	-0.47%
CHD	D	-0.44%
GILD	A	-0.42%
KEYS	B	-0.41%
FI	A	-0.4%
CL	D	-0.39%
MKL	B	-0.39%
KDP	C	-0.39%
L	C	-0.38%
WRB	C	-0.38%
CHT	C	-0.38%
BAH	C	-0.38%
UTHR	C	-0.37%
AMGN	D	-0.37%
WCN	D	-0.37%
KHC	F	-0.36%
VRSN	C	-0.36%
HUM	F	-0.35%
TJX	D	-0.35%
ERIE	A	-0.34%
INCY	B	-0.32%
JNPR	C	-0.32%
AON	A	-0.32%
KMB	D	-0.32%
FFIV	B	-0.32%
AJG	C	-0.31%
AKAM	D	-0.3%
NBIX	F	-0.29%
TSN	D	-0.29%
SJM	D	-0.29%
TRV	B	-0.28%
GEN	A	-0.27%
BRO	A	-0.27%
MDLZ	D	-0.27%
ACN	B	-0.25%
LMT	A	-0.25%
CF	A	-0.25%
T	B	-0.25%
CI	D	-0.25%
YUM	C	-0.24%
HRL	F	-0.24%
CPB	D	-0.24%
BDX	C	-0.23%
CME	A	-0.22%
ROL	C	-0.21%
BMY	A	-0.21%
JKHY	A	-0.2%
CTSH	B	-0.2%
FWONK	D	-0.2%
BMRN	F	-0.2%
PTC	B	-0.2%
DPZ	D	-0.19%
GD	C	-0.19%
FCNCA	D	-0.19%
CMS	A	-0.17%
ULTA	D	-0.17%
MA	A	-0.17%
CAH	B	-0.16%
DGX	D	-0.15%
MPC	D	-0.15%
LNG	A	-0.13%
MOH	F	-0.13%
NEM	C	-0.12%
CTVA	A	-0.12%
WIT	C	-0.11%
MNST	D	-0.11%
AIZ	B	-0.11%
PCG	C	-0.1%
XOM	A	-0.1%
TDY	A	-0.1%
ABT	C	-0.1%
FICO	C	-0.1%
AZPN	A	-0.1%
AEE	A	-0.1%
XEL	C	-0.1%
EG	A	-0.1%
WDAY	D	-0.09%
WTW	C	-0.09%
TPL	A	-0.07%
IT	A	-0.07%
AEP	C	-0.07%
ANET	A	-0.06%
KO	C	-0.06%
TRGP	A	-0.06%
FANG	D	-0.06%
HSIC	D	-0.06%
CHRW	C	-0.06%
DINO	F	-0.06%
ACI	F	-0.05%
HOLX	D	-0.05%
GPC	D	-0.05%
KNX	D	-0.05%
CAG	D	-0.05%
HKD	C	-0.0%