Fund Description: Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Goldman Sachs ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index. INDEX DESCRIPTION: The Goldman Sachs ActiveBeta U.S. Large Cap Equity Index is designed to deliver exposure to equity securities of large capitalization U.S. issuers. The Index is constructed using the patented ActiveBeta Portfolio Construction Methodology, which was developed to provide exposure to the factors (or characteristics) that are commonly tied to a stock’s outperformance relative to market returns. These factors include value (i.e., how attractively a stock is priced relative to its fundamentals, such as book value and free cash flow), momentum (i.e., whether a company’s share price is trending up or down), quality (i.e., profitability) and low volatility (i.e., a relatively low degree of fluctuation in a company’s share price over time). Given the Fund’s investment objective of attempting to track its Index, the Fund does 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 Asset Management, L.P. (the Index Provider) constructs the Index in accordance with a rules-based methodology that involves two steps (see prospectus for details). The Index is rebalanced on a quarterly basis in accordance with the published rebalancing schedule of the Russell 2000 Index (the Reference Index). The rules-based process used to construct the Index incorporates the ActiveBeta Turnover Minimization Technique, which seeks to reduce turnover within the Index. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing at least 80% of its assets (exclusive of collateral held from securities lending) in securities included in its index, in depositary receipts representing securities included in its underlying index and in underlying stocks in respect of depositary receipts included in its Index. FUND MANAGEMENT: Goldman Sachs Asset Management, L.P. (GSAM) serves as the investment adviser for the Fund.