Exchange-Traded Funds

See Glossary for definition of terms used in reference to Products

The returns represent past performance. Past performance does not guarantee future results. Each Fund’s investment return and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above.

Performance reflects cumulative total returns for periods of less than one year and average annual total returns for periods of greater than one year. Since inception returns for periods of less than one year are cumulative. All Fund performance data reflect the reinvestment of distributions.

Total returns are calculated assuming purchase of a share at the market price or net asset value (“NAV”) on the first day and sale of a share at the market price or NAV on the last day of each period reported. The Total Returns Based on NAV and Market Price do not reflect brokerage commissions in connection with the purchase or sale of Fund shares, which if included would lower the performance shown above. The NAV used in the Total Return calculation assumes all management fees and operating expenses incurred by each Fund. Total returns for periods less than one full year are not annualized.

Net Asset Value is the market value of one share of the Fund. This amount is derived by dividing the total value of all the securities in the fund’s portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is the price at which the Fund’s shares are trading on their respective Exchange. The Market Price of the Fund’s shares will fluctuate and, at the time of sale, shares may be worth more or less than the original investment or the Fund’s then current net asset value. The Fund cannot predict whether its shares will trade at, above or below net asset value.

The NAV used in the Total Return calculation assumes all management fees and operating expenses incurred by a Fund. Market price is the price at which a Fund’s shares are trading on its applicable listing exchange. Market Price returns are based upon the last trade as of 4:00pm EST and do not reflect the returns you would receive if you traded shares at other times. The first day of secondary market trading is typically several days after a Fund’s inception of investment operations date; therefore, the NAV of the Fund is used as a proxy for the period from inception of investment operations to the first day of secondary market trading to calculate the Market Price returns.

Under the management agreement for each Fund except the ActiveBeta^® Emerging Markets Equity ETF, Goldman Sachs Asset Management, L.P. (the “Investment Adviser” or “GSAM”) is responsible for substantially all the expenses of the Fund, excluding 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. The Investment Adviser has agreed to reduce or limit “Other Expenses” (excluding acquired fund fees and expenses, taxes, interest, brokerage fees, costs of holding shareholder meetings, litigation, indemnification and extraordinary expenses) to 0.05% of the average daily net assets for the ActiveBeta^® Emerging Markets Equity ETF. This arrangement will remain in effect permanently. The Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees. The Total Annual Fund Operating Expenses do not correlate to the ratios of net and total expenses to average net assets provided in the Financial Highlights, which reflect the operating expenses of the Fund and does not include 0.05% of Acquired Fund Fees and Expenses.

For the Goldman Sachs Access Treasury 0-1 Year ETF, the Investment Adviser has agreed to waive a portion of its management fee in order to achieve an effective net management fee rate of 0.12% as an annual percentage rate of average daily net assets of the Fund. This arrangement will remain in effect through at least December 31, 2019, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.

For the Goldman Sachs Access Ultra Short Bond ETF, the Investment Adviser has agreed to waive a portion of its management fee in order to achieve an effective net management fee rate of 0.16% as an annual percentage rate of average daily net assets of the Fund. This arrangement will remain in effect through at least April 15, 2020, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees.

Given each Fund’s investment objective of attempting to track its Index, the Funds do not follow traditional methods of active investment management, which may involve buying and selling securities based upon analysis of economic and market factors. Goldman Sachs Access Ultra Short Bond ETF (GSST) does not attempt to track an index and takes a more active approach.

A Fund’s performance may vary substantially from the performance of its respective Index as a result of transaction costs, expenses and other factors.

Fund shares are not individually redeemable and are issued and redeemed by a 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.

Fund holdings are as of the end of the day. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. Fund holdings and allocations may not include a Fund’s entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities. Current and future holdings are subject to risk.

The ActiveBeta® Indexes are trademarks of Goldman Sachs Asset Management, L.P. and have been licensed for use by Goldman Sachs ETF Trust. Goldman Sachs Asset Management, L.P., the Goldman Sachs Group, Inc., and Goldman Sachs & Co. (collectively, “Goldman Sachs”) does not guarantee nor make any representation or warranty, express or implied, to the owners or shareholders of a Fund or any member of the public regarding the advisability of investing in securities generally or in a Fund particularly or the ability of an Index to track general market performance. Goldman Sachs, in its capacity as the index provider of each Index, licenses certain trademarks and trade names to the Funds. Goldman Sachs has no obligation to take the needs of the Funds or the shareholders of the Funds into consideration in determining, composing or calculating the Indices. Goldman Sachs or any of its affiliates may hold long or short positions in securities held by a Fund or in related derivatives. Goldman Sachs does not guarantee the adequacy, timeliness, accuracy and/or the completeness of the Indices or any data related thereto. Goldman Sachs hereby expressly disclaims any and all liability for any errors, omissions, or interruptions therein or in the calculation thereof. Goldman Sachs makes no warranty, express or implied, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the marks, the Indices or any data included therein as to the results to be obtained by the Funds, the shareholders, or any other person or entity from use of an Index or any data included therein. Without limiting any of the foregoing, Goldman Sachs hereby expressly disclaims any and all liability for any special, punitive, indirect, or consequential damages (including lost profits), even if advised of the possibility of and such damages.

Goldman Sachs Access High Yield Corporate Bond ETF, Goldman Sachs Access Investment Grade Corporate Bond ETF, Goldman Sachs Access Treasury 0-1 Year ETF, and Goldman Sachs Access Inflation Protected USD Bond ETF (the “Fixed Income ETFs”) have been developed solely by GSAM. The Fixed Income ETFs are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.

All rights in the FTSE Goldman Sachs High Yield Corporate Bond Index, FTSE Goldman Sachs Investment Grade Corporate Bond Index, FTSE US Treasury 0-1 Year Composite Select Index, and FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index (the “Indexes”) vest in the relevant LSE Group Company which owns the Indexes. FTSE® is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license. The Indexes are calculated by or on behalf of FTSE Fixed Income LLC or its affiliate, agent or partner.

The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Indexes or (b) investment in or operation of the Fixed Income ETFs. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fixed Income ETFs or the suitability of the Indexes for the purpose to which it is being put by GSAM.

“Goldman Sachs” is a trademark owned by Goldman Sachs and is registered in the US and other countries. The Goldman Sachs trademark is being used by FTSE Fixed Income LLC under license from Goldman Sachs. With respect to each Index, Goldman Sachs and its affiliates are in no way related or connected to or affiliated with FTSE Fixed Income LLC other than as a licensee. Goldman Sachs does not own, maintain or participate in the calculation of the Indexes. Neither Goldman Sachs, nor its affiliated companies make any representation or warranty, express or implied to any member of the public regarding the ability of an Index to track general market performance. Data and information contained herein regarding the Indexes is proprietary to FTSE Fixed Income LLC or its licensors, and reproduction of such data and information is prohibited except with the prior written permission of FTSE Fixed Income.

“JUST” and “JUST Capital” are trademarks of JUST Capital Foundation, Inc. or its affiliates and have been licensed for use in connection with the issuance and distribution of the Goldman Sachs JUST U.S. Large Cap ETF. The Goldman Sachs JUST U.S. Large Cap ETF is not sponsored, endorsed, sold or promoted by JUST Capital Foundation, Inc. JUST Capital Foundation, Inc., its affiliates and any other person or entity involved in or related to compiling, computing, or creating the Goldman Sachs JUST U.S. Large Cap ETF expressly disclaim all representations, warranties, and liabilities relating to or in connection with the Goldman Sachs JUST U.S. Large Cap ETF (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability, and fitness for a particular purpose). Neither JUST Capital Foundation, Inc. nor any of its affiliates makes any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (a) the results to be obtained from the use of the JUST US Large Cap Diversified Index, the Goldman Sachs JUST U.S. Large Cap ETF, or any of the data included in either of the foregoing, (b) the level at which the JUST US Large Cap Diversified Index or Goldman Sachs JUST U.S. Large Cap ETF is said to stand at any particular time on any particular day or otherwise, (c) the suitability of the JUST US Large Cap Diversified Index for the purpose to which it is being put in connection with the Goldman Sachs JUST U.S. Large Cap ETF, or (d) the advisability of investing in securities generally or in any index or ETF, including those provided by Goldman Sachs. Neither JUST Capital Foundation, Inc. nor any of its affiliates has provided, nor will provide, any financial or investment advice or recommendation in relation to the JUST US Large Cap Diversified Index or the Goldman Sachs JUST U.S. Large Cap ETF, nor will they be (i) liable (whether in negligence or otherwise) to any person for any error in the JUST US Large Cap Diversified Index or (ii) under any obligation to advise any person of any error therein. Without limiting any of the foregoing, in no event shall JUST Capital Foundation, Inc. or its affiliates have any liability for any direct, indirect, special, incidental, punitive, consequential (including without limitation lost profits), or any other damages in connection with the JUST US Large Cap Diversified Index or the Goldman Sachs JUST U.S. Large Cap ETF.

Frank Russell Company (“Russell”) acts solely as calculation agent in respect of the JUST US Large Cap Diversified Index and does not in any way sponsor, support, promote or endorse the JUST US Large Cap Diversified Index or the Goldman Sachs JUST U.S. Large Cap Equity ETF. The JUST US Large Cap Diversified Index was provided on an “as is” basis. Russell, its affiliates and any other person or entity involved in or related to compiling, computing or creating the JUST US Large Cap Diversified Index (collectively, the “Russell Parties”) expressly disclaim all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose).

Russell does not make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the JUST US Large Cap Diversified Index (upon which the Goldman Sachs JUST U.S. Large Cap Equity ETF is based), (ii) the figure at which the JUST US Large Cap Diversified Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the JUST US Large Cap Diversified Index for the purpose to which it is being put in connection with the Goldman Sachs JUST U.S. Large Cap Equity ETF.

Russell has not provided and will not provide any financial or investment advice or recommendation in relation to the JUST US Large Cap Diversified Index to Goldman Sachs Asset Management or to its clients. The JUST US Large Cap Diversified Index is calculated by Russell or its agent as calculation agent. Russell shall not be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein

Without limiting any of the foregoing, in no event shall any Russell Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including without limitation lost profits) or any other damages in connection with the JUST US Large Cap Diversified Index or the Goldman Sachs JUST U.S. Large Cap Equity ETF.

“Motif” is a trademark of Motif Capital Management, Inc. or its affiliates and has been licensed for use in connection with the issuance and distribution of the Funds. The Funds are not sponsored by, endorsed, sold or promoted by Motif Capital Management, Inc., and Motif Capital Management, Inc. makes no representation regarding advisability of investing in them.

Please note that one cannot invest directly into an index.

Certain funds are newly or recently organized and have limited or no operating history.

The performance of a new or smaller fund may not represent how the fund will perform in the future. A new or smaller fund may buy smaller-sized bonds known as “odd lots”, which may be sold at a discount to similar “round lot” bonds, that the fund may not buy as the fund grows in size. All positions are marked at “round lot” prices in calculating NAV and performance . New funds have limited performance histories for investors to evaluate. There is no guarantee that any fund, including a fund with high or unusual performance for one or more periods of time, will perform similarly in the future.

Exchange-Traded Funds are subject to risks similar to those of stocks. Investment returns may fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed, or sold, may be worth more or less than their original cost. ETFs may yield investment results that, before expenses, generally correspond to the price and yield of a particular index. There is no assurance that the price and yield performance of the index can be fully matched.

This material is not authorized for distribution unless preceded or accompanied by a current prospectus or summary prospectus, if applicable. Investors should consider a fund's objectives, risks, and charges and expenses, and read the summary prospectus, if available, and the prospectus carefully before investing or sending money. The summary prospectus, if available, and the Prospectus contain this and other information about a Fund and may be obtained from your authorized dealer or from Goldman Sachs & Co. LLC by calling (retail—1-800-526-7384) (institutional—1-800-621-2550).

ActiveBeta® is a registered trademark of GSAM.

ALPS Distributors, Inc. is the distributor of the Goldman Sachs ETF Trust. ALPS Distributors, Inc. is unaffiliated with Goldman Sachs Asset Management and FTSE Fixed Income LLC.

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.

The information and services provided on this web site are intended for persons in the US only. Non-US persons are directed to our audience selection page.

THIS MATERIAL IS FOR INFORMATIONAL PURPOSES ONLY AND IS PROVIDED SOLELY ON THE BASIS THAT IT WILL NOT CONSTITUTE INVESTMENT OR OTHER ADVICE OR A RECOMMENDATION RELATING TO ANY PERSON’S OR PLAN’S INVESTMENT OR OTHER DECISIONS, AND GOLDMAN SACHS IS NOT A FIDUCIARY OR ADVISOR WITH RESPECT TO ANY PERSON OR PLAN BY REASON OF PROVIDING THE MATERIAL OR CONTENT HEREIN INCLUDING UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 OR DEPARTMENT OF LABOR REGULATIONS. PLAN SPONSORS AND OTHER FIDUCIARIES SHOULD CONSIDER THEIR OWN CIRCUMSTANCES IN ASSESSING ANY POTENTIAL COURSE OF ACTION.

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