AN
INVESTMENT IN THE FUND IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION OR ANY OTHER GOVERNMENT AGENCY. AN INVESTMENT IN THE FUND
INVOLVES
INVESTMENT RISKS, AND YOU MAY LOSE MONEY IN THE FUND.
|
|
|
Management
Fee
|
|
Distribution
and Service (12b-1) Fee
|
|
Other
Expenses
|
|
Total
Annual Fund Operating Expenses
|
|
|
1
Year
|
3
Years
|
5
Years
|
10
Years
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date |
Goldman
Sachs Equal Weight U.S. Large Cap Equity ETF |
|
|
|
Returns
Before Taxes |
|
|
|
Returns
After Taxes on Distributions |
|
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Solactive
US Large Cap Equal Weight Index (GTR) (reflects no deduction for fees or
expenses) |
|
|
|
S&P 500
Index (Total Return, unhedged, USD) (reflects no deduction for fees or
expenses) |
|
|
|
Portfolio
Management
|
Buying
and Selling Fund Shares
|
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
|
|
Management
Fee
|
|
Distribution
and Service (12b-1) Fee
|
|
Other
Expenses
|
|
Total
Annual Fund Operating Expenses
|
|
|
1
Year
|
3
Years
|
5
Years
|
10
Years
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date |
Goldman
Sachs Hedge Industry VIP ETF |
|
|
|
Returns
Before Taxes |
|
|
|
Returns
After Taxes on Distributions |
|
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
Goldman
Sachs Hedge Fund VIP Index™ (reflects no deduction for fees or
expenses) |
|
|
|
S&P 500
Index (Unhedged; reflects no deduction for fees or
expenses) |
|
|
|
Portfolio
Management
|
Buying
and Selling Fund Shares
|
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
|
|
Management
Fee
|
|
Distribution
and Service (12b-1) Fee
|
|
Other
Expenses
|
|
Total
Annual Fund Operating Expenses
|
|
|
1
Year |
3
Years |
5
Years |
10
Years |
$ |
$ |
$ |
$ |
|
|
|
|
Portfolio
Management
|
Buying
and Selling Fund Shares
|
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
|
|
Management
Fee
|
|
Distribution
and Service (12b-1) Fee
|
|
Other
Expenses
|
|
Total
Annual Fund Operating Expenses
|
|
|
1
Year
|
3
Years
|
5
Years
|
10
Years
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
Year |
Since
Inception |
Inception
Date |
Goldman
Sachs JUST U.S. Large Cap Equity ETF |
|
|
|
Returns
Before Taxes |
|
|
|
Returns
After Taxes on Distributions |
|
|
|
Returns
After Taxes on Distributions and Sale of Fund Shares |
|
|
|
JUST U.S.
Large Cap Diversified Index (reflects no deduction for fees or
expenses) |
|
|
|
Russell
1000® Index
(Total Return, Unhedged, USD) (reflects no deduction for fees or
expenses) |
|
|
|
Portfolio
Management
|
Buying
and Selling Fund Shares
|
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
INVESTMENT
OBJECTIVE
|
PRINCIPAL
INVESTMENT STRATEGIES
|
ADDITIONAL
INFORMATION ABOUT THE INNOVATE EQUITY ETF THEMES AND
SUB-THEMES
|
OTHER
INVESTMENT PRACTICES AND SECURITIES
|
10 Percent
of total assets (including securities lending collateral) (italic
type)
10 Percent
of net assets (excluding borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objective and
strategies of the Fund. The Fund may only invest up to 20% of its
assets
in securities and other instruments not included in its underlying
index.
|
Equal
Weight U.S.
Large
Cap
Equity
ETF |
Hedge
Industry
VIP
ETF |
Innovate
Equity
ETF |
JUST
U.S.
Large
Cap
Equity
ETF |
Investment
Practices |
|
|
|
|
Borrowings
|
33 1∕3
|
33 1∕3
|
33 1∕3
|
33 1∕3
|
Derivatives,
including futures, options and swaps |
•
|
•
|
•
|
•
|
Direct
Equity Investments |
•
|
•
|
•
|
•
|
Foreign
Currency Transactions (including forward contracts) |
|
|
•
|
|
Futures
|
20
|
20
|
20
|
20
|
Illiquid
Investments* |
15
|
15
|
15
|
15
|
Investment
Company Securities (including ETFs)** |
10
|
10
|
10
|
10
|
Preferred
Stock, Warrants and Stock Purchase Rights |
•
|
•
|
•
|
•
|
Repurchase
Agreements |
•
|
•
|
•
|
•
|
Securities
Lending |
33 1∕3
|
33 1∕3
|
33 1∕3
|
33 1∕3
|
Warrants
and Stock Purchase Rights |
•
|
•
|
•
|
•
|
• No
specific percentage limitation on usage; limited only by the objective and
strategies of the Fund. |
Equal
Weight U.S.
Large
Cap
Equity
ETF |
Hedge
Industry
VIP
ETF |
Innovate
Equity
ETF |
JUST
U.S.
Large
Cap
Equity
ETF |
Investment
Securities |
|
|
|
|
Equity
Investments |
•
|
•
|
•
|
•
|
Foreign
Securities |
|
•
|
•
|
|
American,
European, and Global Depositary Receipts |
|
|
•
|
|
Emerging
Country Securities |
|
|
•
|
|
Preferred
Stock, Warrants, and Stock Purchase Rights |
•
|
•
|
•
|
•
|
✓ Principal
Risk
• Additional
Risk |
Equal
Weight
U.S.
Large Cap
Equity
ETF |
Hedge
Industry
VIP
ETF |
Innovate
Equity
ETF |
JUST
U.S.
Large
Cap
Equity
ETF |
Absence
of Active Market Risk |
•
|
•
|
•
|
•
|
Asian
Investment Risk |
|
|
✓
|
|
Authorized
Participant Concentration Risk |
•
|
•
|
•
|
•
|
Calculation
Methodology Risk |
✓
|
✓
|
✓
|
✓
|
Depositary
Receipts Risk |
|
✓
|
✓
|
|
Derivatives
Risk |
•
|
•
|
•
|
•
|
Emerging
Countries Risk |
|
|
•
|
|
European
Investment Risk |
|
|
✓
|
|
Expenses
Risk |
|
|
•
|
|
Financial
Services Industry Group Risk |
|
|
•
|
|
Foreign
Risk |
|
•
|
✓
|
|
Foreign
Custody Risk |
|
•
|
•
|
|
Form
Filings and Public Data Risk |
|
✓
|
|
|
Geographic
Risk |
|
|
✓
|
|
Index
Risk |
✓
|
✓
|
✓
|
✓
|
Industry
Concentration Risk |
✓
|
✓
|
✓
|
✓
|
“Just”
Investing Risk |
|
|
|
✓
|
Investment
Style Risk |
✓
|
✓
|
|
|
Large
Shareholder Risk |
✓
|
✓
|
✓
|
✓
|
Liquidity
Risk |
•
|
•
|
•
|
•
|
Market
Risk |
✓
|
✓
|
✓
|
✓
|
Market
Trading Risk |
✓
|
✓
|
✓
|
✓
|
Mid-Cap
and Small-Cap Risk |
|
•
|
✓
|
|
Portfolio
Turnover Rate Risk |
|
✓
|
|
|
Secondary
Listing Risk |
•
|
•
|
•
|
•
|
Seed
Investor Risk |
|
|
|
✓
|
Stock
Risk |
✓
|
✓
|
✓
|
✓
|
Technology
Industry Group Risk |
|
|
✓
|
|
Thematic
Investing Risk |
|
|
✓
|
|
Tracking
Error Risk |
✓
|
✓
|
✓
|
✓
|
Trading
Issues Risk |
•
|
•
|
•
|
•
|
Valuation
Risk |
✓
|
✓
|
✓
|
✓
|
INVESTMENT
ADVISER
|
Investment
Adviser |
Fund
|
Goldman
Sachs Asset Management, L.P. (“GSAM”)
200
West Street
New
York, NY 10282 |
Goldman
Sachs Equal Weight U.S. Large Cap Equity ETF
Goldman
Sachs Hedge Industry VIP ETF
Goldman
Sachs Innovate Equity ETF
Goldman
Sachs JUST U.S. Large Cap Equity ETF
|
MANAGEMENT
FEE AND OTHER EXPENSES
|
Fund
|
Fee
as a
Percentage
of
Average
Daily
Net
Assets |
Equal
Weight U.S. Large Cap Equity ETF |
0.09%
|
Hedge
Industry VIP ETF |
0.45%
|
Innovate
Equity ETF |
0.50%
|
JUST
U.S. Large Cap Equity ETF |
0.20%
|
FUND
MANAGERS
|
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible
|
Five
Year
Employment
History
|
Raj
Garigipati
Managing
Director |
Portfolio
Manager—
Equal
Weight U.S. Large Cap
Equity
ETF
Hedge
Industry VIP ETF
Innovate
Equity ETF
JUST U.S.
Large Cap Equity ETF |
Since
2017
2016
2020
2018 |
Mr.
Garigipati joined the ETF Portfolio Management
team in
2015. Prior to joining the ETF Portfolio
Management
team, he had been the Chief Risk Officer
of the
Quantitative Investment Strategies team since
2011.
|
Jamie
McGregor
Vice
President |
Portfolio
Manager—
Equal
Weight U.S. Large Cap
Equity
ETF
Hedge
Industry VIP ETF
Innovate
Equity ETF
JUST U.S.
Large Cap Equity ETF |
Since
2017
2016
2020
2018 |
Mr.
McGregor is a portfolio manager on the ETF
Portfolio
Management team. He joined GSAM in 2015.
Prior to
joining GSAM, he was a portfolio manager at
Guggenheim
Investments since 2007. |
DISTRIBUTOR
|
TRANSFER
AGENT, CUSTODIAN AND
PROVIDER
OF ADMINISTRATIVE SERVICES
|
ACTIVITIES
OF GOLDMAN SACHS AND ITS AFFILIATES AND OTHER
ACCOUNTS
MANAGED BY GOLDMAN SACHS
|
Buying
and Selling Shares
|
Payments
to Broker-Dealers and Other Financial Intermediaries
|
Net
Asset Value
|
NAV
= |
(Value
of Assets of the Fund)
–
(Liabilities of the Fund) |
|
Number
of Outstanding Shares of the Fund
|
Book
Entry
|
Creations
and Redemptions
|
DISTRIBUTIONS
|
TAXES
ON CREATIONS AND REDEMPTIONS OF CREATION UNITS
|
SALES
OF FUND SHARES
|
OTHER
INFORMATION
|
PREMIUM/DISCOUNT
INFORMATION
|
CONTINUOUS
OFFERING
|
DISTRIBUTION
AND SERVICE PLAN
|
A. General
Portfolio Risks
|
B.
Other Portfolio Risks
|
C.
Portfolio Securities and
Techniques |
|
Equal
Weight U.S. Large Cap Equity ETF | |||
|
For the
Fiscal
Year Ended
August 31, |
For the
Period
September 12, 2017*
to
August 31, 2018 | ||
2021 |
2020 |
2019 | ||
Per
Share Operating Performance: | ||||
Net asset
value, beginning of period |
$50.86 |
$46.30 |
$46.33 |
$40.58 |
Net
investment income(a)
|
0.85 |
0.93 |
0.81 |
0.77 |
Net
realized and unrealized gain (loss) |
19.09 |
4.52 |
(0.10) |
5.52 |
Total gain
from investment operations |
19.94 |
5.45 |
0.71 |
6.29 |
Distributions
to shareholders from net investment income |
(0.80) |
(0.89) |
(0.74) |
(0.54) |
Net asset
value, end of period |
$70.00 |
$50.86 |
$46.30 |
$46.33 |
Market
price, end of period |
$69.99 |
$50.95 |
$46.32 |
$46.35 |
Total
Return at Net Asset Value(b) |
39.56% |
12.08% |
1.62% |
15.60% |
Net assets,
end of period (in 000’s) |
$857,504 |
$320,433 |
$168,989 |
$76,438 |
Ratio of
total expenses to average net assets |
0.09% |
0.09% |
0.09% |
(c)0.09%
|
Ratio of
net investment income to average net assets |
1.39% |
1.98% |
1.81% |
(c)1.82%
|
Portfolio
turnover rate(d)
|
43% |
48% |
39% |
34% |
|
Hedge
Industry VIP ETF | ||||
|
For the Fiscal
Year Ended August 31, |
For the Period
November 1,
2016*
to
August 31, 2017 | |||
|
2021 |
2020 |
2019 |
2018 | |
Per
Share Operating Performance: | |||||
Net asset
value, beginning of period |
$79.37 |
$56.86 |
$57.98 |
$50.46 |
$40.00 |
Net
investment income(a)
|
(0.07) |
(b)0.16
|
0.51 |
0.17 |
(c)0.32
|
Net
realized and unrealized gain (loss) |
23.88 |
22.59 |
(1.11) |
7.52 |
10.31 |
Total gain
(loss) from investment operations |
23.81 |
22.75 |
(0.60) |
7.69 |
10.63 |
Distributions
to shareholders from net investment income |
(d)—
|
(0.24) |
(0.52) |
(0.17) |
(0.17) |
Distributions
to shareholders from return of capital |
— |
(d)—
|
— |
— |
— |
Total
distributions to shareholders |
— |
(0.24) |
(0.52) |
(0.17) |
(0.17) |
Net asset
value, end of period |
$103.18 |
$79.37 |
$56.86 |
$57.98 |
$50.46 |
Market
price, end of period |
$103.21 |
$79.50 |
$57.03 |
$57.98 |
$50.48 |
Total
Return at Net Asset Value(e) |
30.00% |
40.07% |
(0.99)% |
15.27% |
26.61% |
Net assets,
end of period (in 000’s) |
$221,834 |
$115,085 |
$79,608 |
$110,155 |
$45,410 |
Ratio of
total expenses to average net assets |
0.45% |
0.45% |
0.45% |
0.45% |
(e)0.45%
|
Ratio of
net investment income to average net assets |
(0.08)% |
(b)0.26%
|
0.91% |
0.31% |
(c)(f)0.84%
|
Portfolio
turnover rate(g)
|
136% |
124% |
103% |
129% |
116% |
|
Innovate
Equity
ETF |
|
For the
Period
November
6, 2020*
to
August 31,
2021 |
Per
Share Operating Performance: |
|
Net
asset value, beginning of period |
$50.03 |
Net
investment income(a)
|
0.24 |
Net
realized and unrealized gain |
13.15 |
Total gain
from investment operations |
13.39 |
Distributions
to shareholders from net investment income |
(0.19) |
Net asset
value, end of period |
$63.23 |
Market
price, end of period |
$63.34 |
Total
Return at Net Asset Value(b) |
26.80% |
Net assets,
end of period (in 000’s) |
$493,184 |
Ratio of
total expenses to average net assets |
(c)0.50%
|
Ratio of
net investment income to average net assets |
(c)0.50%
|
Portfolio
turnover rate(d)
|
38% |
|
JUST U.S.
Large Cap Equity ETF | |||
|
For the Fiscal
Year Ended August 31, |
For the Period
June 7,
2018*
to
August 31, 2018 | ||
|
2021 |
2020 |
2019 | |
Per
Share Operating Performance: | ||||
Net asset
value, beginning of period |
$50.92 |
$42.04 |
$42.13 |
$40.08 |
Net
investment income(a)
|
0.74 |
0.74 |
0.72 |
0.17 |
Net
realized and unrealized gain |
14.70 |
8.90 |
0.08 |
1.88 |
Total gain
from investment operations |
15.44 |
9.64 |
0.80 |
2.05 |
Distributions
to shareholders from net investment income |
(0.71) |
(0.76) |
(0.89) |
— |
Net asset
value, end of period |
$65.65 |
$50.92 |
$42.04 |
$42.13 |
Market
price, end of period |
$65.68 |
$50.88 |
$42.06 |
$42.13 |
Total
Return at Net Asset Value(b) |
30.61% |
23.29% |
2.06% |
5.11% |
Net assets,
end of period (in 000’s) |
$264,240 |
$152,754 |
$129,275 |
$272,805 |
Ratio of
total expenses to average net assets |
0.20% |
0.20% |
0.20% |
(c)0.20%
|
Ratio of
net investment income to average net assets |
1.29% |
1.69% |
1.79% |
(c)1.84%
|
Portfolio
turnover rate(d)
|
11% |
14% |
17% |
2% |
FOR
MORE INFORMATION
|
|
Shareholders/Authorized
Participants |
Financial
Advisors |
◼ By
telephone: |
1-800-621-2550
|
1-800-292-4726
|
◼ By
mail: |
Goldman
Sachs Funds
P.O.
Box 06050
Chicago,
IL 60606-6306 |
|
◼ On
the Internet: |
SEC
EDGAR database – http://www.sec.gov |
|