Goldman Sachs Asset Management tops $100B in ETF assets

Goldman Sachs Asset Management reached $100 billion in exchange-traded fund assets after its April acquisition of Innovator ETFs, which added more than $30 billion to GSAM’s ETF assets under management.

The milestone was disclosed at a GSAM media event where Bryon Lake, Global Co-Head of Third Party Wealth and Chief Transformation Officer, announced the new total.

The Innovator deal brought income-focused and defensive ETF strategies into Goldman Sachs’ lineup, expanding the firm’s range of options-based income funds and buffered products.

Two of Goldman Sachs’ premium income ETFs have drawn large inflows this year. The Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ) has taken in more than $3 billion, and the Goldman Sachs S&P 500 Premium Income ETF (GPIX) has also exceeded $3 billion. Managers for those funds select equities from their benchmark indexes and sell options on holdings to generate income.

The Innovator Defined Wealth Shield ETF (BALT) moved into GSAM with just under $2.5 billion in assets. BALT charges 69 basis points, offers a buffer against the first 15% to 20% of a decline in the S&P 500 and limits upside participation.

Several Goldman Sachs ETFs, including the premium income funds, will mark their three-year anniversaries this fall.

The combined ETF roster now includes traditional index exposure, option-enhanced income strategies and buffered defensive products. The $100 billion total increases GSAM’s scale among ETF asset managers and expands the range of products the firm offers to investors.