GEM vs. ACWX ETF Comparison

Comparison of Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) to iShares MSCI ACWI ex US Index Fund (ACWX)

GEM

Goldman Sachs ActiveBeta Emerging Markets Equity ETF

GEM Description

The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs ActiveBeta® Emerging Markets Equity Index. The fund invests at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its underlying index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its underlying index. The index is designed to deliver exposure to equity securities of emerging market issuers.

Grade (RS Rating)

Last Trade

$33.16

Average Daily Volume

68,074

Number of Holdings ^*

* may have additional holdings in another (foreign) market

ACWX

iShares MSCI ACWI ex US Index Fund

ACWX Description

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country World Index ex USA (the "underlying index"). The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities of the underlying index. The underlying index is a free float-adjusted market capitalization-weighted index designed to measure the combined equity market performance of developed and emerging markets countries, excluding the United States. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$53.81

Average Daily Volume

861,512

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GEM	ACWX
30 Days	-3.80%	-2.47%
60 Days	-1.37%	-3.95%
90 Days	-1.13%	-3.67%
12 Months	12.15%	12.80%

12 Overlapping Holdings

Symbol	Grade	Weight in GEM	Weight in ACWX	Overlap
BABA	D	1.93%	0.65%	0.65%
BGNE	D	0.11%	0.04%	0.04%
BIDU	F	0.15%	0.09%	0.09%
CHT	D	0.06%	0.05%	0.05%
HDB	C	0.46%	0.33%	0.33%
IBN	C	0.8%	0.3%	0.3%
LI	F	0.06%	0.05%	0.05%
TCOM	B	0.18%	0.13%	0.13%
TME	D	0.1%	0.03%	0.03%
UMC	F	0.18%	0.06%	0.06%
WIT	A	0.21%	0.03%	0.03%
YUMC	C	0.24%	0.07%	0.07%

GEM Overweight 28 Positions Relative to ACWX

Symbol	Grade	Weight
PDD	F	0.75%
VALE	F	0.41%
KB	B	0.27%
SKM	D	0.22%
QFIN	B	0.2%
VIPS	F	0.2%
SHG	D	0.2%
NU	C	0.14%
BCH	F	0.09%
SCCO	F	0.09%
KT	A	0.09%
GGB	C	0.09%
BAP	B	0.08%
ATHM	D	0.07%
ABEV	F	0.07%
TAL	F	0.06%
BEKE	D	0.05%
ERJ	B	0.05%
XP	F	0.05%
LPL	F	0.04%
BRFS	D	0.04%
KEP	B	0.04%
ASAI	F	0.04%
CSAN	F	0.04%
IQ	F	0.03%
BVN	F	0.03%
PAGS	F	0.03%
BZ	F	0.03%

GEM Underweight 13 Positions Relative to ACWX

Symbol	Grade	Weight
TM	D	-0.69%
MUFG	B	-0.5%
SONY	B	-0.44%
SMFG	B	-0.34%
MFG	B	-0.22%
HMC	F	-0.15%
NMR	B	-0.07%
XPEV	C	-0.03%
BILI	D	-0.02%
NIO	F	-0.02%
AGCO	D	-0.02%
MNSO	F	-0.01%
MBAVU	D	-0.01%