Goldman Sachs Asset Management Expands Data Enhanced ETF Range with Emerging Markets and International Equity ETFs

Risk Considerations

The Goldman Sachs Data Enhanced Emerging Markets Equity ETF seeks long-term growth of capital. The Fund is an actively managed exchange-trade fund. The Fund pursues its investment objective by investing primarily in equity securities issued by emerging country issuers. The Fund's investments are subject to market risk, which means that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic, social or political developments. Because of its exposure to Asian issuers, the Fund is subject to greater risk of loss as a result of volatile securities markets, adverse exchange rates and social, political, military, regulatory, economic or environmental developments, or natural disasters that may occur in Asian countries. The Fund may invest in the securities of Chinese issuers through the China Stock Connect program, which may restrict the Fund’s ability to enter into or dispose of investments. At times, the Fund may be unable to sell illiquid investments without a substantial drop in price, if at all. The Investment Adviser's use of quantitative models to execute the Fund's investment strategy may fail to produce the intended result. The securities of mid- and small-cap companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic, social or political developments, including regional armed conflicts, sanctions, tariffs, counter-sanctions, retaliatory tariffs and other retaliatory actions. Investing in real estate investment trusts (“REITs”) involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. REITs whose underlying properties are concentrated in a particular industry or geographic region are also subject to risks affecting such industries and regions. The securities of REITs involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements because of interest rate changes, economic conditions and other factors. Different investment styles (e.g., “growth”, “value” or “quantitative”) tend to shift in and out of favor, and at times the Fund may underperform other funds that invest in similar asset classes. The Fund is “non-diversified” and may invest a larger percentage of its assets in one or more issuers or in fewer issuers than “diversified” funds. Accordingly, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.

The Goldman Sachs Data Enhanced International Equity ETF seeks long-term growth of capital. The Fund is an actively managed exchange-trade fund. The Fund pursues its investment objective by investing primarily in equity securities issued by non-U.S. issuers. The Fund's investments are subject to market risk, which means that the value of the securities in which it invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic, social or political developments. The Fund may invest a large percentage of its assets in  Europe and may be subject to greater losses than if it were less concentrated in Europe. At times, the Fund may be unable to sell illiquid investments without a substantial drop in price, if at all. The Investment Adviser's use of quantitative models to execute the Fund's investment strategy may fail to produce the intended result. The securities of mid- and small-cap companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements. Foreign and emerging markets investments may be more volatile and less liquid than investments in U.S. securities and are subject to the risks of currency fluctuations and adverse economic, social or political developments, including regional armed conflicts, sanctions, tariffs, counter-sanctions, retaliatory tariffs and other retaliatory actions. Different investment styles  (e.g., “growth”, “value” or “quantitative”) tend to shift in and out of favor, and at times the Fund may underperform other funds that invest in similar asset classes. The Fund is “non-diversified” and may invest a larger percentage of its assets in one or more issuers or in fewer issuers than “diversified” funds. Accordingly, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.

Fund shares are not individually redeemable and are issued and redeemed by the Fund at their net asset value (“NAV”) only in large, specified blocks of shares called creation units. Shares otherwise can be bought and sold only through exchange trading at market price (not NAV). Shares may trade at a premium or discount to their NAV in the secondary market. Ordinary brokerage commissions apply. Brokerage commissions will reduce returns.

General Disclosures

A summary prospectus, if available, or a Prospectus for the funds containing more information may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling 1-800- 526-7384. Please consider a fund's objectives, risks, and charges and expenses, and read the summary prospectus, if available, and the Prospectus carefully before investing. The summary prospectus, if available, and the Prospectus contain this and other information about the funds.

Please note the ETF expense figures shown above are the unitary management fees. Under the management fees for the ETFs, Goldman Sachs Asset Management LP., the Fund’s investment adviser, is responsible for paying substantially all the expenses of the Fund, excluding the payments under the Fund's 12b-1 plan (if any), interest expenses, taxes, acquired fund fees and expenses, brokerage fees, costs of holding shareholder meetings, litigation, indemnification and extraordinary expenses. Please refer to the Fund’s prospectus for the most recent expenses.

Transparency: Portfolio holdings are disclosed on a daily basis. 

Alpha: Portfolio return above a benchmark return.

The portfolio risk management process includes an effort to monitor and manage risk, but does not imply low risk.

The Investment Company Act of 1940 (the “Act”) imposes certain limits on investment companies purchasing or acquiring any security issued by another registered investment company. For these purposes the definition of “investment company” includes funds that are unregistered because they are excepted from the definition of investment company by sections 3(c)(1) and 3(c)(7) of the Act. You should consult your legal counsel for more information.

ALPS Distributors, Inc. is the distributor of the Goldman Sachs ETFs. ALPS Distributors, Inc. is unaffiliated with Goldman Sachs Asset Management.

NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.