Goldman Plans Banks Sector ETF

Fund will target stocks of eurozone banking companies.
Reviewed by: Staff
Edited by: Staff

A recent filing from Goldman Sachs outlines the firm’s plans to launch its first sector ETF. The Goldman Sachs Eurozone Banks ETF is fairly plain-vanilla, and will target banking stocks in 10 eurozone countries.

The fund’s underlying index will derive its components from the Solactive GBS Developed Markets Eurozone Large & Mid Cap Index’s banking sector as well as the parent index’s investment banking and corporate finance industry group. The selected components are all weighted by free-float market capitalization.

European banks have been seen by many as a beaten-down area of the market and a possible buying opportunity. The Goldman Sachs ETF could provide investors easy access to the space.

BlackRock already offers similar exposure in its $993.3 million iShares MSCI Europe Financials ETF (EUFN), but it is not specifically focused on banking stocks, and covers all developed markets in Europe, not just the eurozone.

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