Marvell, Infineon and Delta Drive GTEK’s 30.9% YTD Gain

The Goldman Sachs Future Tech ETF (GTEK) has returned 30.9% year-to-date and 72.3% over the past 12 months. Three holdings-Marvell Technology, Infineon Technologies and Delta Electronics-account for a large share of the fund’s gains this year.

GTEK is managed by Goldman Sachs and follows an active, bottom-up strategy that targets companies expected to drive technology innovation. The fund builds a high-conviction portfolio by screening for growth potential and quality, and it excludes companies with market capitalizations of $100 billion or more.

Marvell Technology, a U.S. semiconductor company, rose about 84.5% YTD. The stock moved higher as demand increased for chips used in cloud infrastructure and artificial intelligence workloads, lifting revenue expectations for suppliers of networking and storage semiconductors. Marvell is not an AI hyperscaler.

Infineon Technologies, based in Germany, gained roughly 50.7% YTD. The company sells power management, sensors and connectivity chips for automotive, industrial and consumer markets. Increased orders tied to automotive electrification and industrial automation supported Infineon’s revenue outlook.

Delta Electronics, a Taiwan-based manufacturer, returned about 117% YTD. Delta supplies power and thermal management components to data centers and industrial clients, including industrial computer fans and power systems that address rising compute density and cooling needs.

The combined performance of these stocks has contributed materially to GTEK’s overall returns. By excluding the largest-cap tech firms, the fund tilts toward smaller and mid-cap technology-oriented companies across sectors such as semiconductors, communications and healthcare equipment.

Fund performance data show concentrated gains among those smaller, growth-oriented holdings have driven GTEK’s recent results. The fund’s active, concentrated positioning differs from passive technology indexes and narrows exposure to the largest-cap tech companies.