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The Goldman Sachs Innovate Equity ETF aims to profit from technological breakthroughs, but has underperformed compared to broader market indexes since its inception. GINN's top holdings resemble a standard S&P 500 fund, with significant exposure to mega-cap tech companies, limiting its innovation-focused appeal. Despite its diversified mandate, GINN has a high correlation to large-cap tech and charges a relatively high management fee of 50 basis points.
Goldman Sachs Innovate Equity ETF seeks to invest in innovative businesses at the forefront of technological disruption. The GINN ETF has low weightings at the top, providing diversification and reducing concentration risk. GINN has outperformed the ARK Innovation ETF with less risk, making it an attractive option for investors interested in innovation.
While bonds have been the hottest ETF asset class in 2023, for the broader investment community, this is the year of AI investing. Just as many people no longer spell out “exchange traded funds” for ETFs, AI has become shorthand for artificial intelligence.
Harsh treatment of growth stocks this year is trying investors' patience, but the silver lining is that an assortment of stocks that are usually richly valued now look the opposite. Some exchange traded funds more than others help investors take a broad approach to undervalued stocks.
Stocks recently slipped into a bear market as highlighted by a year-to-date decline of 20% for the S&P 500. Some benchmarks are performing significantly worse than that.
This year, disruptive growth stocks are being, well, disrupted by a hostile interest rate and recession fears, among other factors. Those near-term headwinds run counter to what remain compelling long-term outlooks for concepts ranging from cloud computing to healthcare to innovation to e-commerce and much more.
In this market environment, investors of all stripes should be prioritizing companies with strong balance sheets. For those with longer time horizons, evaluating some beaten-up names with disruptive growth traits could be rewarding.
Technology and disruptive growth are investing concepts that market participants aren't particularly fond of at the moment. However, they should be cautious about throwing babies out with the bathwater.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.