Goldman Plans Banks Sector ETF

November 02, 2018

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.

Contact Heather Bell at [email protected]

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