The Goldman Sachs Hedge Industry VIP ETF (GVIP) is one of a handful of funds that tries to imitate the stock picks of top hedge fund managers. GVIP screens publicly-available data of fundamentally-driven hedge fund managers and identifies the stocks that appear most often in their top 10 holdings, i.e., their “very-important positions.” The universe of hedge funds is limited to those that hold $100 million or more in U.S.-listed stocks, and 10 to 200 distinct equity positions. GVIP typically owns about 50 stocks and is rebalanced quarterly. Top holdings include Sea Ltd., Raytheon, Change Healthcare, Citigroup, and Booking Holdings.
There’s an appealing irony in a relatively inexpensive index fund that tries to swipe the best investment ideas of expensive stock pickers, especially since passive stock funds have consistently trounced their actively-managed competition. Given the consistent under-performance of active management, investors might wonder if there’s any point in trying to imitate them. Does it work? Sometimes. The answer, of course, depends on the time frame and the fund you compare it to.
GVIP isn’t the only fund out there that tries to pull investment ideas from stock pickers. Competitors include The Motley Fool 100 Index ETF (TMFC), Direxion All Cap Insider Sentiment Shares (KNOW), or the Global X Guru Index ETF (GURU).
This section compares how balanced and deep this ETF is relative to its peers.
| GVIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Number of Holdings | 49 | 396 | 431 |
| % of Assets in Top 10 | 23.99% | 36.89% | 29.31% |
| % of Assets in Top 15 | 34.73% | 44.41% | 37.42% |
| % of Assets in Top 50 | 99.97% | 71.98% | 67.96% |
| GVIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Large (>12.9B) | 89.71% | 89.78% | 70.04% |
| Mid (>2.7B) | 10.29% | 6.05% | 15.81% |
| Small (>600M) | 0.00% | 0.72% | 4.52% |
| Micro (<600M) | 0.00% | 0.09% | 0.60% |
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.
| GVIP | ETF Database Category Average | FactSet Segment Average | |
|---|---|---|---|
| Dividend | N/A | $ 0.30 | $ 0.18 |
| Dividend Date | 2020-12-24 | N/A | N/A |
| Annual Dividend Rate | N/A | $ 0.86 | $ 0.68 |
| Annual Dividend Yield | 0.12% | 1.16% | 1.11% |
View charts featuring ETF fund flow data.
5 Day Net Flows: 0 1 Month Net Flows: 2.52 M 3 Month Net Flows: 2.38 M 6 Month Net Flows: 12.16 M 1 Year Net Flows: 63.95 M 3 Year Net Flows: 30.41 M 5 Year Net Flows: 120.17 M 10 Year Net Flows: 120.17 MView charts that break down the influence that fund flows and price had on overall assets.
The adjacent table gives investors an individual Realtime Rating for GVIP 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 Large Cap Growth Equities 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 | Qualified dividends |
| Distributes K1 | No |
This section shows how this ETF has performed relative to its peers.
| GVIP |
ETF Database
Category Average |
Factset Segment
Average |
|
|---|---|---|---|
| 1 Month Return | 0.09% | 0.15% | 0.76% |
| 3 Month Return | 2.45% | 3.27% | 3.62% |
| YTD Return | 12.10% | 16.43% | 15.27% |
| 1 Year Return | 27.13% | 25.83% | 23.69% |
| 3 Year Return | 87.05% | 49.05% | 37.74% |
| 5 Year Return | N/A | 66.54% | 46.76% |
The following charts reflect the geographic spread of GVIP's underlying holdings.
| Region | Percentage |
|---|---|
| North, Central and South America | 99.97% |
| Country | Percentage |
|---|---|
| United States | 87.51% |
| United Kingdom | 4.37% |
| Singapore | 2.49% |
| Canada | 1.95% |
| China | 1.9% |
| Argentina | 1.75% |
The following charts reflect the allocation of GVIP's underlying holdings.
| Sector | Percentage |
|---|---|
| Technology Services | 32.39% |
| Electronic Technology | 15.48% |
| Retail Trade | 13.8% |
| Finance | 10.14% |
| Consumer Services | 7.89% |
| Communications | 5.48% |
| Health Technology | 3.85% |
| Utilities | 2.37% |
| Producer Manufacturing | 2.27% |
| Consumer Durables | 2.26% |
| Transportation | 2.03% |
| Health Services | 2.01% |
| Market Cap | Percentage |
|---|---|
| Large | 89.71% |
| Mid | 10.29% |
| Small | 0.0% |
| Micro | 0.0% |
| Region | Percentage |
|---|
| Asset | Percentage |
|---|---|
| Share/Common/Ordinary | 95.58% |
| American Depositary Receipt | 4.39% |
| Sector | Percentage |
|---|---|
| Technology Services | 32.39% |
| Electronic Technology | 15.48% |
| Retail Trade | 13.8% |
| Finance | 10.14% |
| Consumer Services | 7.89% |
| Communications | 5.48% |
| Health Technology | 3.85% |
| Utilities | 2.37% |
| Producer Manufacturing | 2.27% |
| Consumer Durables | 2.26% |
| Transportation | 2.03% |
| Health Services | 2.01% |
This section shows how the volatility of this ETF compares to the peer group ETF Database Category.
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.
After a relatively quiet period, launch activity in the exchange-traded fund (ETF) space has...
Whether we are discovering the latest sports news on Twitter, posting about our weekends on...
ETF Trends and ETF Database , the preeminent digital platforms for ETF news, research, tools, video, webcasts, native content channels, and more. The ETF Trends and ETF Database brands have been trusted amongst advisors, institutional investors, and individual investors for a combined 25 years. The firms are uniquely positioned to aid advisor’s education, adoption, and usage of ETFs, as well as the asset management community’s transition from traditionally analog to digital interactions with the advisor community.
Our team at ETF Database is committed to making our website the premier source of information on ETF investing with the world’s highest quality ETF tools, content, and resources.
ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.
Copyright © 2021 FactSet Research Systems Inc. All rights reserved.
With the 10-year U.S. Treasury yield hovering below 1% and Federal Reserve Chairman Jerome Powell...
Investors could be forgiven to think there was no reason to invest outside of the U.S. for the...
