M&A - Goldman Sachs ETF Trust

Form Type: N-14

Filing Date: 2025-06-20

Corporate Action: Merger

Type: New

Accession Number: 000119312525143723

Filing Summary: On June 17-18, 2025, the Board of Trustees of Goldman Sachs ETF Trust approved reorganizations involving mergers of existing funds into newly created shell series of the ETF Trust, specifically: Goldman Sachs Enhanced U.S. Equity Fund into Goldman Sachs Enhanced U.S. Equity ETF, Goldman Sachs Focused Value Fund into Goldman Sachs Value Opportunities ETF, Goldman Sachs Strategic Growth Fund into Goldman Sachs Growth Opportunities ETF, and Goldman Sachs Technology Opportunities Fund into Goldman Sachs Technology Opportunities ETF. Shareholders were first notified of the reorganization plans on June 20, 2025, indicating that the changes will occur automatically without needing approval from shareholders. The reorganizations are expected to be tax-free and will take effect on or about November 14, 2025, and December 5, 2025, for the different funds. No sales charges or fees will be assessed during these transactions, and shareholders will receive shares of the Acquiring Funds or cash equal to the value of their Acquired Fund shares as of the closing date. The document also outlines the differences and advantages of the ETF structure compared to mutual funds, such as lower expense ratios, increased trading flexibility, and enhanced tax efficiency, while advising shareholders on how to prepare for the transition.