The Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) tracks an index of treasury inflation-protected securities, or TIPS: bonds that feature a principal that adjusts based on certain measures of inflation. Goldman’s particular twist is that it invests in “off-the-run” securities. The most-traded TIPS tend to be the newest issues, or “on-the-run” securities. Other rules-based TIPS strategies buy only on-the-run TIPS, which may increase demand and drive up the price. Goldman helped develop an index designed to avoid any potential feeding frenzy by buying the less popular off-the-run TIPS. The fund invests in a broad mix of fixed-rate, U.S. dollar-denominated sovereign bonds that have a minimum issue size of $5 billion and at least one year to maturity.
GTIP can be useful as a tool for investors who are particularly concerned about inflationary pressures. It’s important to note that TIPS are not perfect hedges against inflation; there are some potential drawbacks to using products such as GTIP to hedge against a climb in CPI. But for those looking to use inflation-protected bonds in that capacity, GTIP offers broad TIPS exposure at a reasonable price.
GTIP is a relative latecomer to a well-covered segment of the market, and it has yet to gather the assets of some of its seasoned rivals, like the iShares TIPS Bond ETF (TIP). There’s plenty of other rivals to compare it to, including the Schwab U.S. TIPS ETF (SCHP), PIMCO Broad U.S. TIPS Index ETF (TIPZ) or the SPDR Portfolio TIPS ETF (SPIP). It’s also worth noting that broad exposure to longer-dated TIPS may expose investors to longer duration, a measure of bonds’ sensitivity to interest-rate moves. Investors who want to hedge against inflation and changing interest rates might consider short-term TIPS ETFs such as the iShares 0-5 Year TIPS Bond ETF (STIP) or the PIMCO 1-5 Year U.S. TIPS Index ETF (STPZ).
| Segment | Fixed Income: U.S. - Government, Inflation-linked Investment Grade |
| Category | Government, Inflation-linked |
| Focus | Investment Grade |
| Niche | Broad Maturities |
| Strategy | Target Duration |
| Weighting Scheme | Duration |
This section compares how balanced and deep this ETF is relative to its peers.
| GTIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 24 | 33 | 28 |
| % of Assets in Top 10 | 64.96% | 60.59% | 66.20% |
| % of Assets in Top 15 | 83.58% | 74.05% | 76.73% |
| % of Assets in Top 50 | 99.99% | 97.03% | 99.99% |
| GTIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | N/A | N/A | N/A |
| Mid (>2.7B) | N/A | N/A | N/A |
| Small (>600M) | N/A | N/A | N/A |
| Micro (<600M) | N/A | N/A | N/A |
This section compares the P/E ratio of this ETF to its peers.
This section compares the dividend yield of this ETF to its peers.
| GTIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | $ 0.08 | $ 0.23 | $ 0.17 |
| Dividend Date | 2022-12-27 | N/A | N/A |
| Annual Dividend Rate | $ 2.86 | $ 2.57 | $ 2.25 |
| Annual Dividend Yield | 5.81% | 5.70% | 4.59% |
View charts featuring GTIP price and volume data.
View charts featuring ETF fund flow data.
5 Day Net Flows: 0 1 Month Net Flows: 16 K 3 Month Net Flows: -14.85 M 6 Month Net Flows: -29.29 M 1 Year Net Flows: -36.32 M 3 Year Net Flows: 128.53 M 5 Year Net Flows: 141.77 M 10 Year Net Flows: 141.77 MView charts that break down the influence that fund flows and price had on overall assets.
5 Day Net AUM Change: -571.75 KThe adjacent table gives investors an individual Realtime Rating for GTIP on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Inflation-Protected Bonds with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.
This section compares the cost efficiency of this ETF to its peers.
| Max ST Capital Gains Rate | 39.60% |
| Max LT Capital Gains Rate | 20.00% |
| Tax On Distributions | Ordinary income |
| Distributes K1 | No |
This section shows how this ETF has performed relative to its peers.
| GTIP |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | 2.43% | 2.70% | 3.36% |
| 3 Month Return | 2.87% | 2.74% | 2.63% |
| YTD Return | 3.35% | 2.92% | 2.75% |
| 1 Year Return | -7.29% | -5.94% | -4.81% |
| 3 Year Return | 5.59% | 9.71% | 3.49% |
| 5 Year Return | N/A | 10.83% | 6.68% |
The following charts reflect the geographic spread of GTIP's underlying holdings.
The following charts reflect the allocation of GTIP's underlying holdings.
| Asset | Percentage |
|---|---|
| Sovereign | 99.81% |
| Open-ended Fund | 0.18% |
| Bond Sector | Percentage |
|---|
| Maturity | Percentage |
|---|---|
| Less Than 1 Year | 0.0% |
| 1-3 Years | 0.0% |
| 3-5 Years | 0.0% |
| 5-7 Years | 0.0% |
| 7-10 Years | 0.0% |
| 10-15 Years | 0.0% |
| 15-20 Years | 0.0% |
| 20-30 Years | 0.0% |
| 30+ Years | 0.0% |
| Asset | Percentage |
|---|---|
| Sovereign | 99.81% |
| Open-ended Fund | 0.18% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
| 5 Day Volatility | 76.15% |
| 20 Day Volatility | 10.21% |
| 50 Day Volatility | 8.60% |
| 200 Day Volatility | 8.65% |
| Beta | 0.18 |
| Standard Deviation | 1.59% |
ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.
Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.
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