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 |
|
|
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 |
$ |
$ |
$ |
$ |
|
|
|
|
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 |
$ |
$ |
$ |
$ |
|
|
|
|
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 |
Tax
Information |
Payments
to Broker-Dealers and
Other
Financial Intermediaries |
INVESTMENT
OBJECTIVE |
PRINCIPAL
INVESTMENT STRATEGIES |
Belief |
How
the Investment Adviser Acts on This Belief |
◼ Excess
returns can be generated by conducting thorough fundamental
research
and individual stock selection |
Seeks
to generate excess returns through a research culture which includes
regular
conversations with existing and potential investee companies’
executives
and their competitors, suppliers and clients. |
◼ A
team-based approach enriches debate and enhances the quality of
investment
decisions |
Conducts
stock level research in a team-orientated structure with frequent
and
open communication. |
◼ Focused
and differentiated portfolios provide the potential to generate
excess
returns |
Builds
portfolios that seek to have the majority of excess returns driven by
stock
selection. |
◼ Companies
aligned with key secular growth themes provide attractive
investment
opportunities |
Seeks
to identify long-term secular growth themes and conducts
fundamental
research to identify companies that in its view are aligned with
those
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 |
Future
Consumer
Equity
ETF |
Future
Health Care
Equity
ETF |
Future
Planet
Equity
ETF |
Future
Real Estate and
Infrastructure
Equity ETF |
Future
Tech Leaders
Equity
ETF |
Investment
Practices |
|
|
|
|
|
Borrowings |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
Cross
Hedging of Currencies |
• |
• |
• |
• |
• |
Custodial
Receipts and Trust Certificates |
• |
• |
• |
• |
• |
Direct
Equity Investment |
• |
• |
• |
• |
• |
Equity,
Index and Currency Swaps |
• |
• |
• |
• |
• |
Foreign
Currency Transactions (including forward
contracts) |
• |
• |
• |
• |
• |
Futures
Contracts and Options and Swaps on
Futures
Contracts |
• |
• |
• |
• |
• |
Illiquid
Investments* |
15 |
15 |
15 |
15 |
15 |
Initial
Public Offerings (“IPO”) |
• |
• |
• |
• |
• |
Investment
Company Securities (including ETFs)1
|
10 |
10 |
10 |
10 |
10 |
Options
on Foreign Currencies |
• |
• |
• |
• |
• |
Options2
|
• |
• |
• |
• |
• |
Preferred
Stock, Warrants and Stock Purchase
Rights |
• |
• |
• |
• |
• |
Repurchase
Agreements |
• |
• |
• |
• |
• |
Securities
Lending |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
33 1∕3 |
Short
Sales Against the Box |
• |
• |
• |
• |
• |
Unseasoned
Companies |
• |
• |
• |
• |
• |
When-Issued
Securities and Forward Commitments |
• |
• |
• |
• |
• |
10 Percent
of total assets (italic type)
10 Percent
of net assets (including borrowings for investment purposes) (roman
type)
• No
specific percentage limitation on usage; limited only by the objectives
and
strategies
of the Fund
— Not
permitted |
Future
Consumer
Equity
ETF |
Future
Health Care
Equity
ETF |
Future
Planet
Equity
ETF |
Future
Real Estate and
Infrastructure
Equity ETF |
Future
Tech Leaders
Equity
ETF |
Investment
Securities |
|
|
|
|
|
American,
European and Global Depositary Receipts |
• |
• |
• |
• |
• |
Asset
Backed and Mortgage Backed Securities1
|
• |
• |
• |
• |
• |
Bank
Obligations1
|
• |
• |
• |
• |
• |
Convertible
Securities2
|
• |
• |
• |
• |
• |
Corporate
Debt Obligations1
|
• |
• |
• |
• |
• |
Emerging
Country Securities |
• |
• |
• |
• |
• |
Equity
Investments |
80+ |
80+ |
80+ |
80+ |
80+ |
Fixed
Income Securities3
|
20 |
20 |
20 |
20 |
20 |
Foreign
Government Securities |
• |
• |
• |
• |
• |
Foreign
Securities |
• |
• |
• |
• |
• |
Non-Investment
Grade Fixed Income Securities4
|
20 |
20 |
20 |
20 |
20 |
Other
Investment Companies (including ETFs) |
10 |
10 |
10 |
10 |
10 |
Pre-IPO
Investments (including late-stage private
equity
securities) |
• |
• |
• |
• |
• |
Real
Estate Investment Trusts (“REITs”) |
|
|
• |
• |
|
Structured
Securities (which may include equity or
credit-linked
notes)5
|
• |
• |
• |
• |
• |
Temporary
Investments |
• |
• |
• |
• |
• |
U.S.
Government Securities |
• |
• |
• |
• |
• |
✓ Principal
Risk
• Additional
Risk |
Future
Consumer
Equity
ETF |
Future
Health Care
Equity
ETF |
Future
Planet
Equity
ETF |
Future
Real Estate and
Infrastructure
Equity ETF |
Future
Tech Leaders
Equity
ETF |
Absence
of Active Market Risk |
• |
• |
• |
• |
• |
Authorized
Participant Concentration Risk |
• |
• |
• |
• |
• |
Credit/Default
Risk |
• |
• |
• |
• |
• |
Cybersecurity
Risk |
• |
• |
• |
• |
• |
Depositary
Receipts Risk |
✓ |
✓ |
✓ |
• |
✓ |
Derivatives
Risk |
• |
• |
• |
• |
• |
Emerging
Countries Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
ESG
Integration Risk |
• |
• |
• |
• |
• |
Foreign
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Foreign
Custody Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Geographic
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Health
Care Sector Risk |
|
✓ |
|
|
|
Industry
Concentration Risk |
✓ |
✓ |
|
✓ |
✓ |
Infrastructure
Company Risk |
|
|
|
✓ |
|
Interest
Rate Risk |
• |
• |
• |
• |
• |
Investment
Style Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
IPO
Risk |
• |
• |
• |
• |
• |
Issuer
Concentration Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Large
Shareholder Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Liquidity
Risk |
• |
• |
• |
• |
• |
Management
Risk |
• |
• |
• |
• |
• |
Market
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Market
Trading Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Mid-Cap
and Small-Cap Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Non-Diversification
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Non-Investment
Grade Fixed Income Securities Risk |
• |
• |
• |
• |
• |
Other
Investment Companies Risk |
• |
• |
• |
• |
• |
Real
Estate Industry Risk |
|
|
|
✓ |
|
REIT
Risk |
|
|
|
✓ |
|
Secondary
Listing Risk |
• |
• |
• |
• |
• |
Sector
Risk |
|
|
✓ |
|
|
Seed
Investor Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Stock
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Technology
Sector Risk |
|
|
|
|
✓ |
Thematic
Investing Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
Trading
Issues Risk |
• |
• |
• |
• |
• |
U.S.
Government Securities Risk |
• |
• |
• |
• |
• |
Utilities
Industry Risk |
|
|
|
✓ |
|
Valuation
Risk |
✓ |
✓ |
✓ |
✓ |
✓ |
INVESTMENT
ADVISER |
Investment
Adviser |
Funds |
Goldman
Sachs Asset Management, L.P.
200
West Street
New
York, NY 10282 |
Goldman
Sachs Future Consumer Equity ETF
Goldman
Sachs Future Health Care Equity ETF
Goldman
Sachs Future Planet Equity ETF
Goldman
Sachs Future Real Estate and Infrastructure Equity ETF
Goldman
Sachs Future Tech Leaders Equity
ETF |
MANAGEMENT
FEE AND OTHER EXPENSES |
Fund |
Fee
as a
Percentage
of
Average
Daily Net
Assets |
Goldman
Sachs Future Consumer Equity ETF
Goldman
Sachs Future Health Care Equity ETF
Goldman
Sachs Future Planet Equity ETF
Goldman
Sachs Future Real Estate and Infrastructure Equity ETF
Goldman
Sachs Future Tech Leaders Equity ETF |
0.75%
0.75%
0.75%
0.75%
0.75% |
FUND
MANAGERS |
Name
and Title |
Fund
Responsibility |
Years
Primarily
Responsible |
Five
Year Employment History |
Jenny
Chang
Vice
President |
Co-Portfolio
Manager—
Future
Health Care Equity
ETF |
Since
2021 |
Ms.
Chang joined the Investment Adviser in 2016. |
Sung
Cho
Managing
Director |
Co-Portfolio
Manager—
Future
Tech Leaders Equity
ETF |
Since
2021 |
Mr.
Cho joined the Investment Adviser in 2004. He is a
portfolio
manager on the Fundamental Equity Team and has
broad
research responsibilities. |
Charles
“Brook” Dane
Managing
Director |
Co-Portfolio
Manager—
Future
Tech Leaders Equity
ETF |
Since
2021 |
Mr.
Dane joined the Investment Adviser in 2010. He is a
portfolio
manager on the Fundamental Equity Team and has
broad
research responsibilities. |
Alexis
Deladerrière, CFA
Managing
Director |
Co-Portfolio
Manager—
Future
Consumer Equity ETF
Future
Planet Equity ETF |
Since
2021
2021 |
Mr.
Deladerrière is the Head of International Developed
Markets
Equity within the Fundamental Equity Team and a
portfolio
manager of Global and International Equity
strategies.
Mr. Deladerrière joined the Investment Adviser in
July
2002. |
Laura
Destribats
Vice
President |
Co-Portfolio
Manager—
Future
Consumer Equity ETF |
Since
2021 |
Ms.
Destribats is Co-Lead Portfolio Manager of the GSAM
Global
Millennials Equity Strategy and lead research analyst
for
the Global Equity team with responsibilities in
ConsumerDiscretionary,
Internet and Business Services. Ms.
Destribats
joined the Investment Adviser in 2012. |
Raj
Garigipati
Managing
Director |
Co-Portfolio
Manager—
Future
Consumer Equity ETF
Future
Health Care Equity
ETF
Future
Planet Equity ETF
Future
Real Estate and
Infrastructure
Equity ETF
Future
Tech Leaders Equity
ETF |
Since
2021
2021
2021
2021
2021 |
Mr.
Garigipati joined the ETF Portfolio Management team
within
the QIS team in 2015. Prior to joining the ETF
Portfolio
Management team, he had been the Chief Risk
Officer
of the QIS team since 2011. |
Kristin
Kuney
Managing
Director |
Co-Portfolio
Manager—
Future
Real Estate and
Infrastructure
Equity ETF |
Since
2021 |
Ms.
Kuney joined the Investment Adviser in 2000. She is a
portfolio
manager on the Fundamental Equity Team and has
research
responsibilities for the liquid real assets business
and
sectors. |
Nathan
Lin
Vice
President |
Co-Portfolio
Manager—
Future
Consumer Equity ETF
Future
Tech Leaders Equity
ETF |
Since
2021
2021 |
Mr.
Lin is Co-Lead Portfolio Manager of the GSAM Global
Future
Technology Leaders Strategy and the GSAM Global
Millennials
Equity Strategy. Mr. Lin joined the Investment
Adviser
in 2008. |
Anant
Padmanabhan
Vice
President |
Co-Portfolio
Manager—
Future
Health Care Equity
ETF |
Since
2021 |
Ms.
Padmanabhan joined the Investment Adviser in
2014. |
Abhinav
Zutshi, CFA
Vice
President |
Co-Portfolio
Manager—
Future
Real Estate and
Infrastructure
Equity ETF |
Since
2021 |
Mr.
Zutshi joined the Investment Adviser in 2009. He is a
portfolio
manager on the Fundamental Equity Team and has
research
responsibilities for the liquid real assets business
and
sectors. |
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 |