AN
INVESTMENT IN A FUND IS NOT A BANK DEPOSIT AND IS NOT INSURED BY THE
FEDERAL DEPOSIT
INSURANCE
CORPORATION OR ANY OTHER GOVERNMENT AGENCY. AN INVESTMENT IN A FUND
INVOLVES
INVESTMENT
RISKS, AND YOU MAY LOSE MONEY IN A FUND.
|
|
|
Management
Fee
|
|
Distribution
and Service (12b-1) Fee
|
|
Other
Expenses
|
|
Total
Annual Fund Operating Expenses
|
|
Fee
Waiver1
|
( |
Total
Annual Fund Operating Expenses After Fee Waiver
|
|
|
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
|
|
Fee
Waiver1
|
( |
Total
Annual Fund Operating Expenses After Fee Waiver
|
|
|
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
|
$ |
$ |
|
|
|
|
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
|
|
Fee
Waiver1
|
( |
Total
Annual Fund Operating Expenses After Fee Waiver
|
|
|
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 |
Tax
Information
|
Payments
to Broker-Dealers and
Other
Financial Intermediaries
|
INVESTMENT
OBJECTIVE
|
PRINCIPAL
INVESTMENT STRATEGIES
|
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.
A Fund may
only invest up to 20% of its assets in securities and other instruments
not included in its underlying index.
|
MarketBeta®
International
Equity ETF
|
MarketBeta®
Emerging
Markets
Equity ETF
|
MarketBeta®
International
Small
Cap
Equity ETF
|
MarketBeta®
U.S.
Equity ETF |
Investment
Practices |
|
|
|
|
Borrowings
|
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
Derivatives,
including futures, options and swaps |
• |
• |
• |
• |
Foreign
Currency Transactions (including forward contracts) |
• |
• |
• |
|
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
|
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 index.
|
MarketBeta®
International
Equity ETF
|
MarketBeta®
Emerging
Markets
Equity ETF
|
MarketBeta®
International
Small
Cap
Equity ETF
|
MarketBeta®
U.S.
Equity ETF |
Investment
Securities |
|
|
|
|
Emerging
Country Securities |
|
• |
|
|
Equity
Investments |
• |
• |
• |
• |
Foreign
Securities |
• |
• |
• |
|
✓ Principal
Risk
• Additional
Risk |
MarketBeta®
International
Equity ETF
|
MarketBeta®
Emerging
Markets
Equity ETF
|
MarketBeta®
International
Small
Cap
Equity ETF
|
MarketBeta®
U.S.
Equity ETF |
Absence of
Active Market Risk |
• |
• |
• |
• |
Asian
Investment Risk |
• |
• |
• |
|
Authorized
Participant Concentration Risk |
• |
• |
• |
• |
Calculation
Methodology Risk |
✓ |
✓ |
✓ |
✓ |
Cash
Transactions Risk |
|
✓ |
|
|
China Risk
|
|
✓ |
|
|
Depository
Receipts Risk |
✓ |
✓ |
✓ |
|
Derivatives
Risk |
• |
• |
• |
• |
Diversification
Risk |
✓ |
✓ |
✓ |
✓ |
Emerging
Countries Risk |
|
✓ |
|
|
European
Investment Risk |
✓ |
|
✓ |
|
Expenses
Risk |
• |
✓ |
• |
|
Foreign
Custody Risk |
• |
• |
• |
|
Foreign
Risk |
✓ |
✓ |
✓ |
|
Geographic
Risk |
✓ |
✓ |
✓ |
✓ |
Index Risk
|
✓ |
✓ |
✓ |
✓ |
Industry
Concentration Risk |
✓ |
✓ |
✓ |
✓ |
Japan Risk
|
✓ |
|
✓ |
|
Large
Shareholder Risk |
✓ |
✓ |
✓ |
✓ |
Liquidity
Risk |
• |
• |
• |
• |
Market Risk
|
✓ |
✓ |
✓ |
✓ |
Market
Trading Risk |
✓ |
✓ |
✓ |
✓ |
Mid-Cap and
Small-Cap Risk |
✓ |
✓ |
✓ |
✓ |
Secondary
Listing Risk |
• |
• |
• |
• |
Seed
Investor Risk |
|
|
✓ |
|
Stock Risk
|
✓ |
✓ |
✓ |
✓ |
Tracking
Error Risk |
✓ |
✓ |
✓ |
✓ |
Trading
Issues Risk |
• |
• |
• |
• |
Valuation
Risk |
✓ |
✓ |
✓ |
✓
|
INVESTMENT
ADVISER
|
Investment
Adviser |
Fund
|
Goldman
Sachs Asset Management, L.P.
200 West
Street
New York,
NY 10282 |
MarketBeta®
International Equity ETF
MarketBeta® Emerging
Markets Equity ETF
MarketBeta®
International Small Cap Equity ETF
MarketBeta® U.S.
Equity ETF |
MANAGEMENT
FEE AND OTHER EXPENSES
|
Fund
|
Fee as a
Percentage
of
Average
Daily
Net Assets
|
MarketBeta®
International Equity ETF |
0.25%
|
MarketBeta® Emerging
Markets Equity ETF |
0.45%
|
MarketBeta®
International Small Cap Equity ETF |
0.30%
|
MarketBeta® U.S.
Equity ETF |
0.09%
|
FUND
MANAGERS
|
Name
and Title |
Primarily
Responsible
Since
|
Five
Year Employment History |
Raj
Garigipati
Managing
Director |
2020 |
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. He joined Goldman Sachs in 2003.
|
Jamie
McGregor
Vice
President |
2020 |
Mr.
McGregor is a portfolio manager on the ETF Portfolio Management team. He
joined
GSAM in
2015 as a vice president. Prior to joining GSAM, Mr. McGregor was a
portfolio
manager at
Guggenheim Investments, having joined in 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
|
|
MarketBeta® Emerging
Markets Equity ETF | |
|
For the
Fiscal
Year
Ended
August 31,
2021 |
For the
Period
May 12,
2020*
to
August 31,
2020 |
Per
Share Operating Performance: | ||
Net asset
value, beginning of period |
$48.15 |
$39.60 |
Net
investment income(a)
|
0.89 |
0.49 |
Net
realized and unrealized gain |
8.14 |
8.06 |
Total gain
from investment operations |
9.03 |
8.55 |
Distributions
to shareholders from net investment income |
(1.50) |
— |
Net asset
value, end of period |
$55.68 |
$48.15 |
Market
price, end of period |
$55.72 |
$48.36 |
Total
Return at Net Asset Value(b) |
19.35% |
21.54% |
Net assets,
end of period (in 000’s) |
$36,191 |
$38,517 |
Ratio of
net expenses to average net assets |
0.36% |
(c)0.36%
|
Ratio of
total expenses to average net assets |
0.45% |
(c)0.45%
|
Ratio of
net investment income to average net assets |
1.63% |
(c)3.60%
|
Portfolio
turnover rate(d)
|
21% |
23% |
|
MarketBeta®
International Equity ETF | |
|
For the
Fiscal
Year
Ended
August 31,
2021 |
For the
Period
May 12,
2020*
to
August 31,
2020 |
Per
Share Operating Performance: | ||
Net asset
value, beginning of period |
$46.79 |
$40.14 |
Net
investment income(a)
|
1.28 |
0.30 |
Net
realized and unrealized gain |
10.84 |
6.35 |
Total gain
from investment operations |
12.12 |
6.65 |
Distributions
to shareholders from net investment income |
(1.30) |
— |
Net asset
value, end of period |
$57.61 |
$46.79 |
Market
price, end of period |
$57.80 |
$46.82 |
Total
Return at Net Asset Value(b) |
26.20% |
16.57% |
Net assets,
end of period (in 000’s) |
$357,192 |
$280,723 |
Ratio of
net expenses to average net assets |
0.20% |
(c)0.20%
|
Ratio of
total expenses to average net assets |
0.25% |
(c)0.25%
|
Ratio of
net investment income to average net assets |
2.41% |
(c)2.15%
|
Portfolio
turnover rate(d)
|
5% |
1% |
|
MarketBeta® U.S.
Equity ETF | |
|
For the
Fiscal
Year
Ended
August 31,
2021 |
For the
Period
May 12,
2020*
to
August 31,
2020 |
Per
Share Operating Performance: | ||
Net asset
value, beginning of period |
$48.62 |
$39.20 |
Net
investment income(a)
|
0.74 |
0.22 |
Net
realized and unrealized gain |
14.46 |
9.20 |
Total gain
from investment operations |
15.20 |
9.42 |
Distributions
to shareholders from net investment income |
(0.75) |
— |
Net asset
value, end of period |
$63.07 |
$48.62 |
Market
price, end of period |
$63.09 |
$48.69 |
Total
Return at Net Asset Value(b)
|
31.60% |
24.03% |
Net assets,
end of period (in 000’s) |
$428,861 |
$257,663 |
Ratio of
net expenses to average net assets |
0.07% |
(c)0.07%
|
Ratio of
total expenses to average net assets |
0.09% |
(c)0.09%
|
Ratio of
net investment income to average net assets |
1.36% |
(c)1.62%
|
Portfolio
turnover rate(d)
|
4% |
1% |
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 |
|