Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF)

Overview

The Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (PGX) seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Index. The fund primarily invests in U.S. exchange-listed preferred stock and hybrid securities.

Reputation and Reliability

Goldman Sachs is a well-established and reputable financial institution with a long track record in asset management.

Management Expertise

Goldman Sachs Asset Management has a team of experienced professionals managing various ETFs, including those focused on fixed income and preferred securities.

Goal

To provide investment results that closely correspond, before fees and expenses, to the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Index.

Investment Approach and Strategy

Strategy: The ETF employs a passive management strategy, attempting to replicate the performance of its underlying index.

Composition The ETF holds a basket of preferred stocks and hybrid securities issued by U.S. companies.

Market Share: Insufficient data available to precisely estimate PGX's market share.

Total Net Assets (AUM): 479400000

Key Competitors

• iShares Preferred and Income Securities ETF (PFF)
• Invesco Preferred ETF (PGX)
• First Trust Preferred Securities and Income ETF (FPE)

Competitive Landscape

The preferred stock ETF market is moderately competitive. PGX competes with larger, more established ETFs like PFF and PGX. Advantages for PGX include Goldman Sachs' brand and potentially lower fees depending on the specific share class. Disadvantages include a smaller AUM which may impact liquidity relative to competitors.

Historical Performance: Historical performance data can be obtained from the official Goldman Sachs Asset Management website or other financial data providers.

Benchmark Comparison: The ETF's performance should be compared to the ICE Exchange-Listed Preferred & Hybrid Securities Index to assess tracking effectiveness.

Expense Ratio: 0.29

Average Trading Volume

The ETF's average trading volume indicates adequate liquidity for most investors but should be assessed before making large trades.

Bid-Ask Spread

The bid-ask spread is generally tight, reflecting reasonable trading costs.

Market Environment Factors

Interest rate movements, credit spreads, and overall economic conditions can impact the performance of preferred stocks and hybrid securities held by the ETF.

Growth Trajectory

The ETF's growth is tied to investor demand for preferred securities, influenced by factors like interest rate expectations and the search for yield.

Competitive Edge

PGX benefits from Goldman Sachs' established brand and distribution network. The fund offers investors access to a portfolio of U.S. preferred stocks and hybrid securities, providing diversification and potential income. Its passive management strategy aims to track the underlying index efficiently. The lower expense ratio may be seen as a competitive advantage compared to other actively managed preferred stock funds.

Volatility

Preferred stocks are generally less volatile than common stocks but more volatile than government bonds. Specific assessments can be made from the ETF's fact sheet.

Market Risk

The ETF is subject to interest rate risk, credit risk, and market risk, all of which can impact the value of its holdings.

Ideal Investor Profile

The ETF is suitable for investors seeking income, diversification, and exposure to the preferred stock and hybrid securities market.

Market Risk

PGX may be suitable for long-term investors and those seeking income-generating assets in their portfolios.

The Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF aims to replicate the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Index, providing exposure to U.S. preferred stocks. It offers a passively managed approach with a relatively low expense ratio, appealing to income-seeking investors. However, it's smaller AUM compared to larger competitors may impact liquidity. Understanding interest rate sensitivity, credit spreads and preferred stock dynamics is crucial before investing.

Data Sources:

• Goldman Sachs Asset Management Website
• ETF.com
• Morningstar
• Bloomberg

Disclaimers:

This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual circumstances and consultation with a qualified financial advisor. Market share data is approximate and may vary. Performance figures are not indicative of future results.