Daily ETF Watch: Goldman Adds 2 Funds

Goldman Sachs has added two more funds to its family of smart-beta ETFs. The Goldman Sachs ActiveBeta Europe Equity ETF (GSEU) and the Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) join three other funds from Goldman Sachs that are based on the same core methodology.

The ActiveBeta ETFs track indexes that target the value, momentum, quality and low-volatility factors.

The other funds in the family include the following:

• Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM)
• Goldman Sachs ActiveBeta International Equity ETF (GSIE)
• Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF (GSLC)

Each of the new funds comes with an expense ratio of 0.25%. The entire ActiveBeta family is listed on the NYSE Arca.

Greek Fund Has New Index

The Global X FTSE Greece 20 ETF (GREK | D-63) has gotten a new name and underlying index, but is retaining its ticker. Now known as the Global X MSCI Greece ETF, it tracks the MSCI All Greece Select 25/50 Index instead of the FTSE/ATHEX Custom Capped Index.

With $212 million in assets under management, GREK is no lightweight. Plenty of investors are interested in Greece in the aftermath of its meltdown.

The index switch comes with one very material change: Coca-Cola HBC is no longer included in GREK’s holdings. The MSCI index is very inclusive, with roughly 30-40 components versus 20, but it does not include the beverage company that had a double-digit weighting in the FTSE index. Coca-Cola HBC moved its headquarters to Switzerland a few years ago and switched its primary listing to the London Stock Exchange from the Athens Stock Exchange, so it does not qualify under MSCI’s methodology.

The largest stock in GREK these days is Alpha Bank A. E., with a weighting of just over 14%.

Contact Heather Bell at [email protected].