Goldman Folds 5 ETFs Into 1

October 27, 2020

Goldman Sachs is reorganizing five ETFs originally launched in 2019 around Motif indexes—a company Goldman acquired last year—into a single fund, according to FactSet. The changes will take effect Nov. 6. 

  • GBUY has $77 million in assets under management. The 119-holding portfolio tracks a market-cap-weighted index of companies that are capitalizing from new consumer trends, including products and infrastructure.
  • GDAT has $55 million in assets. The 116-holding portfolio tracks an index of companies involved in the data business from processing to delivering it to analyzing it.
  • GDNA has $63 million in assets. The 112-holding portfolio tracks an index of companies involved with cutting-edge development of treatments and tech in the health care industry.
  • GFIN has $48 million in assets. The 119-holding portfolio tracks an index of companies that are reshaping financial services, including blockchain and asset management disrupters.
  • GMAN has $51 million in assets. The 118-holding portfolio tracks an index of global companies disrupting manufacturing through technology.

According to Goldman Sachs, the new Innovate ETF will track the Solactive Innovative Global Equity Index, which combines these five themes in an equal-weighted basket. The new ETF will be a thematic fund that captures the “what’s next” across various industries, and the drivers of growth. No ticker has been announced for the new fund.

Goldman Sachs is behind 27 ETFs with nearly $20 billion in combined assets.

More Launches From New Issuer

Redwood Investment Management has doubled its ETF lineup under its LeaderShares brand this week with the launch of two new funds:

  • LeaderShares Activist Leaders ETF (ACTV)
  • LeaderShares AlphaFactor Tactical Focused ETF (LSAT)

The company is still relatively new to the ETF market, and it’s carving a niche as a smart beta ETF provider that, through its AlphaFactor methodology, analyzes smart beta factors beyond traditional price-driven metrics, and incorporates them as sources of alpha.

LeaderShares is behind the LeaderShares AlphaFactor U.S. Core Equity ETF (LSAF), with about $80 million in assets, and the recently launched LeaderShares Equity Skew ETF (SQEW), which has amassed $61 million in assets since its debut in May.

Contact Cinthia Murphy at [email protected]

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