At a glance
GINN charges 0.5% a year, above the 0.11% average of the 8 funds most like it (the most expensive of 9). It has $198.0M in assets, the 9th largest of that group; it paid 1.14% of its price in distributions over the past 12 months, annual. Over the past year it returned +6.5% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +24.4% a year. At its worst it fell 37.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 23 months after the low. Its ten largest positions make up 15.7% of the fund, out of 473 in all.
The short version
Goldman Sachs Innovate Equity ETF (GINN) is an index fund that tracks the Solactive Innovative Global Equity Index. That index holds about 475 stocks picked by keyword screening across five innovation themes, from data and AI to medical advances. Its money is spread widely: the 10 largest holdings made up only 15.7% of assets as of August 31, 2026. Its 0.50% expense ratio is well above the 0.11% average of funds with similar holdings.
Price history
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GINN +6.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GINN official prospectus, to Dec 31, 2024 | — | +18.78% | — | — | — | +6.11% |
| GINN price data to Oct 27, 2026 | +10.5% | +6.5% | +24.4% | +6.3% | — | +6.2% |
- Over the year to Oct 27, 2026, GINN returned +6.5%, 9th of 9 among similar funds.
- Its 5-year annualized return was +6.3%.
- Its worst full calendar year was 2022 (-32.4%); its best was 2023 (+29.9%).
- The deepest fall in its price history was 41.2% (Nov 8, 2021 to Oct 14, 2022), recovered by Nov 11, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.5% | — |
| 2025 | +20.3% | — |
| 2024 | +18.7% | +18.78% |
| 2023 | +29.9% | +29.90% |
| 2022 | -32.4% | -32.26% |
| 2021 | — | +10.59% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 37.1% over that stretch · deepest drop along the way 37.1%, back to its old high 23.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.9200 | +19.5% |
| 2024 | $0.7700 | +45.3% |
| 2023 | $0.5300 | +89.3% |
| 2022 | $0.2800 |
What's inside
As of Aug 31, 2026, the fund held 473 securities; the ten largest made up 15.68% of assets, and 2.67% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| MICROSOFT CORP | 2.02% | |
| APPLE INC | 2.01% | |
| NVIDIA CORP | 1.96% | |
| ALPHABET INC | 1.90% | |
| AMAZON.COM INC | 1.88% | |
| META PLATFORMS INC | 1.51% | |
| TESLA INC | 1.20% | |
| TENCENT HOLDINGS LTD | 1.16% | |
| INTEL CORP | 1.12% | |
| ELI LILLY & COMPANY | 0.92% | |
| JOHNSON & JOHNSON | 0.84% | |
| ALIBABA GROUP HOLDING LTD | 0.83% | |
| VISA INC | 0.80% | |
| MASTERCARD INC | 0.73% | |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 0.72% |
By country
United States 71.27%Cayman Islands 6.94%Japan 3.3%United Kingdom 2.03%Canada 1.99%By asset type
Stocks 99.16%Preferred stock 0.6%By sector
Sectors of the companies held, for the 48.6% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $20.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.85%, +0.09%, +4.71%.
How it works
GINN is an index fund. It aims to match the Solactive Innovative Global Equity Index before fees, so it does not pick stocks by judgment. It puts at least 80% of its assets in the index's stocks or in depositary receipts, which are certificates that represent shares of foreign companies. The index is built from five Solactive theme indexes: Data-Driven World, Finance Reimagined, Human Evolution, Manufacturing Revolution and New Age Consumer.
Each theme index starts with listed companies worth at least $500 million that trade at least $1 million a day. Solactive then uses a language-processing algorithm to scan financial news, business profiles and company publications for firms tied to the theme's sub-themes, such as machine learning or gene therapy. It scores each company's relevance and keeps the top 100. It then weights them by company size and by a "thematic beta," which measures how exposed each company is to the theme.
In the combined index, each stock's weight is its average weight across the five theme indexes, within set minimum and maximum limits. The index normally rebalances each quarter, on the third Friday of February, May, August and November. Portfolio turnover was 45%, according to the prospectus filed December 29, 2025. The fund held no derivatives as of August 31, 2026, and it does not move to cash when markets fall.
What it really costs
- GINN charges 0.5% a year, versus an average of 0.11% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GINN | $51 | $160 | $280 | $628 |
In a retirement portfolio
It is a theme-based stock fund that has swung more than the market (a one-year beta of 1.21) and costs far more than broad index funds.
GINN could add global, innovation-themed stocks alongside a broad core fund. It launched in November 2020, so it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 37.1% and did not recover until September 2024, about 23 months after the low. Its deepest drop was 41.2%, from November 2021 to October 2022. It took about 25 months from that low to get back to its old peak. Its worst calendar year was 2022, at -32.4%. Anyone forced to sell shares in that stretch would have locked in large losses. Income is small: the trailing yield was 1.14% as of October 27, 2026, paid once a year. In the SEC's standard example, the 0.50% expense ratio costs $51 in the first year on $10,000. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund spread across about 475 innovation-linked stocks worldwide, with no holding above about 2% as of August 31, 2026.
- People adding a small satellite position beside a broad core fund who can accept swings like the 41.2% drop from November 2021 to October 2022.
- Investors wanting some foreign stocks alongside US ones: 71% was in US companies, with Tencent and Alibaba among the largest holdings, as of August 31, 2026.
Look elsewhere if
- Cost-focused investors: GINN's 0.50% expense ratio compares with 0.03% for VOO and IVV, which shared about 34% of its holdings.
- Income seekers: the trailing yield was 1.14% as of October 27, 2026, and the fund pays only once a year.
- Anyone expecting innovation themes to beat the market: GINN's 6.5% one-year return through October 27, 2026 trailed all eight similar funds.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GINN this fund | — | 0.5% | $198.0M | +6.5% | +24.4% |
| MODL VictoryShares WestEnd U.S. Sector ETF | 36% | 0.46% | $1.02B | +11.9% | +23.8% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 35% | 0% | $5.47B | +13.4% | +25.4% |
| USPX Franklin U.S. Equity Index ETF | 34% | 0.03% | $1.98B | +12.9% | +24.9% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 34% | 0.2% | $2.74B | +12.6% | +24.8% |
| SPY SPDR S&P 500 ETF Trust | 34% | 0.0945% | $781.19B | +11.5% | +21.9% |
| IVV iShares Core S&P 500 ETF | 34% | 0.03% | $888.13B | +11.5% | +22.0% |
| VOO Vanguard S&P 500 ETF | 34% | 0.03% | $1.67T | +12.4% | +23.6% |
Questions investors ask
Is GINN good for retirement?
GINN fits better as a small, higher-risk add-on than as a core retirement holding. It fell 37.1% in the 2022 bear market and took until September 2024, about 23 months after the low, to recover. Its one-year beta of 1.21 means it tended to swing more than the market. Income is modest: the trailing yield was 1.14% as of October 27, 2026, paid once a year. It may suit investors who hold it as one slice of a diversified portfolio.
What's the difference between GINN and VOO?
VOO tracks the S&P 500, a list of large US companies, and charges 0.03% a year. GINN tracks a global innovation index and charges 0.50%. About 71% of GINN was in US companies as of August 31, 2026, and the two funds shared about 34% of their holdings. VOO returned 12.4% over the year through October 30, 2026. GINN returned 6.5% over the year through October 27, 2026. Over three years they were closer: 23.6% versus 24.4% a year.
Does GINN pay monthly dividends?
No. GINN pays dividends once a year. Over the 12 months through October 27, 2026, it paid $0.92 per share, a trailing yield of 1.14%. The yield is low because the index picks stocks for their ties to innovation themes, not for their dividends. Investors who want steady monthly income would need other holdings to provide it.
What are GINN's top holdings?
As of August 31, 2026, GINN's largest holdings were Microsoft (2.0%), Apple (2.0%), Nvidia (2.0%), Alphabet (1.9%), Amazon (1.9%), Meta Platforms (1.5%), Tesla (1.2%), Tencent (1.2%), Intel (1.1%) and Eli Lilly (0.9%). Together, these top 10 made up 15.7% of assets across 475 positions, so no single stock dominates. About 71% of the fund was in US companies, with Japan next at 3.3%.
How has GINN performed since it launched?
GINN's results have been uneven. Its prospectus shows a 10.59% gain in 2021, a 32.26% loss in 2022, then gains of 29.9% in 2023 and 18.78% in 2024. That works out to a 6.11% average annual return from launch through December 31, 2024. Based on market prices, it gained 20.25% in 2025 and returned 6.3% a year over the five years through October 27, 2026. Its strongest quarter gained 13.69% and its weakest lost 21.97%.