Three of GTEK's top Taiwan holdings are up 170% to 210% this year
ETF Database ranks the Goldman Sachs Future Tech Leaders Equity ETF among the top three ETFs by exposure to each name, after a 46.5% year-to-date return.
The Goldman Sachs Future Tech Leaders Equity ETF has returned 46.5% year to date and 52.2% over the trailing twelve months, according to ETF Database data cited in an ETF Trends write-up, and charges 75 basis points for the result. Three of its largest positions by weight, all Taiwan-headquartered, show the kind of upside the portfolio has been exposed to this year: Elite Material, Chroma ATE and ASE Industrial Holding. Elite Material, up almost 210% this year, makes the copper clad laminates used in circuit boards; Chroma ATE, nearly 175%, builds precision testing tools for electronic components across semiconductor and electric-vehicle supply chains; and ASE Industrial Holding, almost 170%, works in semiconductor assembly and test. Each of those gains is roughly four times GTEK's own year-to-date return. The exposure data ETF Trends cites, though, is a set of ranks rather than weights.
Bottom-up, ex-megacap, and one country
GTEK screens on fundamental quality and growth metrics, builds a high-conviction portfolio from the bottom up, and explicitly excludes megacap tech; it marked its fifth anniversary this month. The case ETF Trends makes for the fund is diversification into rising tech outside the concentration-risk names that GTEK's own rules already bar. The winners that process surfaced at the top of the book are concentrated in Taiwan, across three adjacent layers of one electronics supply chain: laminates, test equipment, assembly.
Per ETF Database's Stock Exposure tool, GTEK is in the top three ETFs by exposure to each of the three names, carrying the largest weight in Chroma ATE, the second-largest in ASE Technology and the third-largest in Elite Material. Without the weights themselves, the material does not support a claim about how much of the 46.5% the trio produced; a high-conviction, bottom-up book could hold them in size, or the rest of the portfolio could equally be doing the work. This publication made a related observation about TURF in September, where a 35.7% return rested on two energy names; the question of what the fee is buying beyond what a screen surfaces does not change with the sector. At 75 basis points, GTEK sits at the paying end of the fee split this publication has described, between a cheap index core and a smaller cohort that pays for selection. Three stock returns and three rank positions are not a weight. The next portfolio disclosure is where the size of that Taiwan concentration becomes checkable rather than inferred.
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