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November 09, 2020 at 05:19 PM
Goldman Sachs Asset Management has reorganized its five thematic ETFs into a single fund called the Goldman Sachs Innovate Equity ETF (GINN), which started trading Monday on the NYSE Arca.
The new fund, which has a net expense ratio of 0.5%, integrates on an equally weighted basis what were once five separate ETFs: the Goldman Sachs Data-Driven World ETF, Finance Reimagined ETF, Human Evolution ETF, Manufacturing Revolution ETF and New Age Consumer ETF.
“These themes, now combined, offer investors a single-point solution for exposure to the companies we’ve identified as driving technological innovation and secular growth,” said Michael Crinieri, GSAM’s Global Head of ETFs, in a statement.
Todd Rosenbluth, head of ETF and mutual fund research at CFRA, said the new GSAM ETF represents a “good strategy as it provides diversification rather than making investors try to pick which thematic ETF will perform the best” when “thematic ETFs can be volatile in the short run.”
