GVIP ETF: What Is It? — A Full Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Goldman Sachs Hedge Industry VIP ETF is a passive product that invests in U.S. stocks widely held by hedge funds. Key factors to evaluate include portfolio concentration, expense ratio, and growth outlook, while comparison with broad-market U.S. ETFs serves as a selection criterion. The trading ticker is GVIP.
SubscribeIt is a passive ETF that tracks an index composed of U.S. stocks that frequently appear among the top buys by fundamentally focused hedge fund managers. The fund concentrates on popular holdings favored by hedge funds.
It is well suited for investors willing to accept concentration-driven volatility in exchange for targeted exposure to the stocks most favored by hedge funds.
The ETF is managed by Goldman Sachs on a passive (index-tracking) basis.
How to Invest in the Goldman Sachs Hedge Industry VIP ETF
| Item | Details |
|---|---|
| Tracking Index | Hedge Fund VIP Index |
| Management Style | Passive (Index Tracking) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Semi-Annual |
| Total Expense Ratio | 0.45% |
The index is constructed by analyzing the top buys of fundamentally focused hedge fund managers and selecting stocks that frequently appear across multiple managers' holdings. The relatively concentrated portfolio is rebalanced each quarter, providing targeted exposure to high-conviction hedge fund favorites.
- Selection of popular stocks commonly held across hedge funds
- Quarterly rebalancing structure with concentrated holdings
Assets under management (AUM) stand at $533.5M, with a total expense ratio of 0.45% per year.
Unlike broad-market ETFs, this fund concentrates on a small number of high-conviction names, offering greater growth potential but also exposing investors to significant volatility if hedge fund preferences shift or favored stocks undergo corrections.
Goldman Sachs Hedge Industry VIP ETF Performance and Flows
1-Year Price Performance
Dividend & Yield
52-Week Price RangeHedge fund favorites tend to be skewed toward growth stocks and large-cap technology names, making the ETF highly sensitive to their performance. It tends to outperform during phases when growth stocks are in favor, but volatility can expand sharply during growth-stock corrections or when hedge funds unwind positions.
Inflows tend to increase when interest in hedge fund favorites and growth stocks rises, while outflows can occur during growth-stock correction concerns or heightened risk-off sentiment.
Goldman Sachs Hedge Industry VIP ETF Pros and Cons
The core strength lies in its concentration on hedge fund favorites, while the drawbacks include concentrated holdings, growth-stock bias, and the risk of shifting positions.
💪 Key Strengths
⚠️ Points to Watch
Goldman Sachs Hedge Industry VIP ETF Alternatives and Related Products
Hedge fund favorites tend to be skewed toward growth stocks and large-cap technology names. For broader exposure to growth, investors can also compare Nasdaq 100-based QQQ, large-cap growth VUG, and mega-cap growth MGK. These differ in number of holdings, weighting methodology, and expense ratio, so the choice should align with the investor's style.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 AMLP | Alerian MLP ETF | $52.60 | -0.3% | $12.7B | 1.01% | 7.74% | +12.8% |
 PGX | Invesco Preferred ETF | $9.85 | -0.2% | $3.6B | 0.50% | 6.94% | -13.7% |
 VRP | Invesco Variable Rate Preferred ETF | $23.62 | +0.1% | $3.0B | 0.50% | 5.93% | -4.2% |
 MLPA | Global X MLP ETF | $54.28 | -0.1% | $2.4B | 0.77% | 7.41% | +12.8% |
 PFXF | VanEck Preferred Securities ex Financials ETF | $16.54 | +0.6% | $2.2B | 0.40% | 5.96% | -6.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| MU | Micron Technology Inc | 0.03% | $855.10 | +2.6% | $967.5B | 11.5 | 0.08% |
| NFLX | Netflix Inc | 0.03% | $63.42 | +1.7% | $260.4B | 18.3 | - |
| LITE | Lumentum Holdings Inc | 0.02% | $680.16 | -0.6% | $61.6B | - | - |
| APP | Applovin Corp | 0.05% | $245.51 | +7.3% | $82.2B | 18.9 | - |
| AMD | Advanced Micro Devices Inc | 0.02% | $483.90 | +3.6% | $790.0B | 124.2 | - |
 HUT | Hut 8 Corp | 0.02% | $63.75 | +15.9% | $7.9B | - | - |
| SNDK | Sandisk Corp | 0.02% | $1126.52 | +4.8% | $160.3B | 9.0 | - |
| DASH | DoorDash Inc | 0.02% | $183.32 | -3.5% | $79.9B | 76.0 | - |
 TLN | Talen Energy Corp | 0.02% | $357.28 | +7.3% | $16.9B | - | - |
Investor Checklist for the Goldman Sachs Hedge Industry VIP ETF
Key items to review before investing in GVIP. As a hedge fund favorites ETF, it is important to assess portfolio concentration, growth-stock bias, position-shift risk, and the expense ratio in advance.
| Checkpoint | What to Confirm | Current Status |
|---|---|---|
| 💵 Expense Ratio | Review the passive ETF's fee level | Review Required |
| 🎯 Portfolio Concentration | Check concentration in a small number of favorites | Concentrated |
| � Growth-Stock Bias | Check growth-stock weight and volatility | Biased Present |
| 🔄 Position Shifts | Check risk from changes in hedge fund preferences | Review Required |
Because the fund concentrates on a small number of favorites, volatility can expand sharply if hedge fund preferences shift or growth stocks undergo corrections. The heavy growth-stock weighting also makes it highly sensitive to interest rates and earnings, which should be factored in.
It is a passive ETF well suited for investors who want concentrated exposure to hedge fund favorites and are willing to accept the associated volatility. For those seeking broad diversification, a wide-market U.S. ETF is an alternative, while GVIP fits investors who specifically want hedge fund favorite concentration.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 5, 2026.
Today's 5 AI picks, all free