GPOW vs. NBET ETF Comparison

Comparison of Goldman Sachs North American Pipelines & Power Equity ETF (GPOW) to Neuberger Berman Energy Transition & Infrastructure ETF (NBET)

GPOW

Goldman Sachs North American Pipelines & Power Equity ETF

GPOW Description

The fund seeks to achieve its investment objective by investing at least 80% of its assets in securities included in its underlying index. The index is designed to deliver exposure to equity securities of U.S. and Canadian listed companies, including companies structured as master limited partnerships, operating in the pipelines and power universe. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$56.31

Average Daily Volume

1,220

Number of Holdings ^*

* may have additional holdings in another (foreign) market

NBET

Neuberger Berman Energy Transition & Infrastructure ETF

NBET Description

Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities of carbon transition companies and infrastructure companies. It invests a significant portion of its assets in carbon transition companies, which manager considers to be those companies operating energy infrastructure assets such as pipelines or renewable energy production, utilities, publicly-traded master limited partnerships or limited liability companies taxed as partnerships, MLPs that are taxed as C-corporations, MLP affiliates.

Grade (RS Rating)

Last Trade

$34.04

Average Daily Volume

1,680

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	GPOW	NBET
30 Days	7.13%
60 Days	11.30%
90 Days	15.20%
12 Months	38.89%

13 Overlapping Holdings

Symbol	Grade	Weight in GPOW	Weight in NBET	Overlap
AM	A	3.74%	3.36%	3.36%
CWEN	C	1.35%	3.86%	1.35%
DTM	A	2.46%	3.68%	2.46%
EPD	A	5.51%	7.48%	5.51%
ET	A	3.05%	7.34%	3.05%
HESM	A	3.51%	1.95%	1.95%
KNTK	A	0.22%	3.31%	0.22%
LNG	A	5.3%	6.56%	5.3%
OKE	A	5.87%	2.11%	2.11%
PAGP	A	3.24%	2.94%	2.94%
TRGP	A	9.24%	8.23%	8.23%
WES	C	0.66%	5.26%	0.66%
WMB	A	6.31%	5.06%	5.06%

GPOW Overweight 21 Positions Relative to NBET

Symbol	Grade	Weight
KMI	A	6.63%
ENLC	A	2.33%
PAA	B	1.78%
WKC	C	1.55%
AES	F	1.45%
ORA	B	1.34%
UGI	C	1.22%
AY	A	1.09%
MPLX	A	0.77%
CQP	B	0.69%
NEP	F	0.48%
NEXT	B	0.46%
CLNE	F	0.45%
SUN	C	0.41%
NJR	A	0.34%
NFE	F	0.33%
DKL	C	0.24%
GLP	A	0.17%
SPH	D	0.14%
EE	A	0.14%
NGL	C	0.08%

GPOW Underweight 10 Positions Relative to NBET

Symbol	Grade	Weight
SRE	A	-4.15%
CNP	A	-3.89%
AR	B	-3.58%
NEE	C	-3.19%
XOM	A	-2.92%
OXY	D	-2.87%
EQT	A	-2.23%
APD	A	-1.91%
DTE	C	-1.83%
LIN	D	-1.82%