ETF Evaluator:
Goldman Sachs Hedge Industry VIP ETF ()
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(as of Aug 26)
Best Performing in Large Growth Over the Last Year
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ETF Details
Goldman Sachs Hedge Industry VIP ETF Overview
Goldman Sachs Hedge Industry VIP ETF (GVIP) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Goldman Sachs launched the ETF in 2016.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the Goldman Sachs Hedge Fund VIP IndexTM.
The fund seeks to achieve its investment objective by investing at least 80% of its assets 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 whose performance is expected to influence the long portfolios of hedge funds.
About Goldman Sachs Hedge Industry VIP ETF (GVIP)
There are 1 members of the management team with an average tenure of 9.75 years: Raj Garigipati (2016). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Goldman Sachs Hedge Fund VIP TR USD index with a weighting of 100%. Goldman Sachs Hedge Industry VIP ETF has 52 securities in its portfolio. The top 10 holdings constitute 24.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Goldman Sachs Hedge Industry VIP ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Goldman Sachs Hedge Industry VIP ETF has 11.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.6% There is 11.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Goldman Sachs Hedge Industry VIP ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $552 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GVIP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goldman Sachs Hedge Industry VIP ETF expense ratio is average compared to funds in the Large Growth category. Goldman Sachs Hedge Industry VIP ETF has an expense ratio of 0.45%, which is 9% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Goldman Sachs Hedge Industry VIP ETF has a portfolio turnover rate of 137%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of July 2026, Goldman Sachs Hedge Industry VIP ETF returned -10.6%, which earned it a grade of F, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Goldman Sachs Hedge Industry VIP ETF has a trailing yield of 0.31%, which is below the 0.53% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Goldman Sachs Hedge Industry VIP ETF Grades
Year to date, the ETF has returned 9.0%, 2.8 percentage points better than the category, which translates into a grade of B. The fund has returned 19.9% over the past year (grade of B), 24.1% over the past three years (grade of A) and 11.0% per year over the past five years (grade of C).
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GVIP Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GVIP Return (NAV) | -10.6% | 1.0% | 19.9% | 24.1% | 11.0% | na |
| GVIP Return (Price) | -11.0% | 0.5% | 19.5% | 24.0% | 10.9% | na |
| NAV +/- Price Return | 0.391% | 0.435% | 0.356% | 0.102% | 0.060% | na |
| Large Growth Avg | -3.8% | 2.7% | 13.0% | 19.6% | 9.9% | 15.8% |
| GVIP Grade (NAV) | F | D | B | A | C | na |
| +/- Category (NAV) | -6.8% | -1.7% | 6.9% | 4.5% | 1.2% | na |
| GVIP Tax-Cost Ratio | na | na | 0.1% | 0.2% | 0.1% | na |
GVIP Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GVIP Return (NAV) | 9.0% | 25.1% | 29.8% | 39.0% | -31.9% | 11.8% | 44.1% | 30.0% | -6.7% | 25.6% | na |
| GVIP Return (Price) | 8.5% | 25.3% | 29.8% | 39.1% | -31.9% | 11.9% | 44.1% | 30.2% | -6.8% | 25.8% | na |
| NAV +/- Price Ret | -0.062% | 0.008% | 0.000% | 0.003% | 0.003% | 0.001% | -0.001% | 0.6% | 2.7% | 0.9% | na |
| Large Growth Avg | 6.2% | 16.9% | 30.5% | 38.6% | -30.7% | 21.6% | 37.2% | 33.0% | -2.1% | 28.4% | 5.0% |
| GVIP Grade (NAV) | B | A | C | C | D | F | A | D | F | D | na |
| +/- Category | 2.8% | 8.2% | -0.7% | 0.4% | -1.2% | -9.8% | 6.9% | -3.0% | -4.5% | -2.9% | na |
| Risk Measures | |
| Beta: | 1.20 |
| R-Squared: | 77% |
| Standard Deviation: | 17.9% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.46 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 0.3% |
| Total Assets: | $ 552 Mil |
| Share Class Assets: | $ 552 Mil |
| Turnover: | 137.0% |
| Expense Ratio: | 0.45% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 9.8 years | |||
| Average Tenure: 9.8 years | |||
| Managers (Year): Garigipati Raj (2016) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 52 |
| % in Top 10 Holdings: | 24.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.3% |
Portfolio Allocation |
|
| Domestic Stock: | 88.6% |
| Foreign Stock: | 11.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-621-2550 |
| Website: | am.gs.com |
| Inception Date: | November 1, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.45% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.49% |
