GTPE vs PSP

GTPEAGoldman Sachs MSCI World Private Equity Return Tracker ETF

PSPCInvesco Global Listed Private Equity ETF

In short

GTPE Private equity returns, minus the lockup. GTPE tracks an MSCI index that rebuilds buyout-style return patterns out of public developed-market stocks, so the exposure trades on an exchange instead of sitting in a locked-up partnership.

PSP Public stock in the private-equity business. PSP has tracked a global index of buyout firms, alternative asset managers and BDCs since 2006, at an all-in 1.75% that is mostly fees passed through from the vehicles it holds.

Stated mandate

GTPE The Fund seeks to track, before fees and expenses, the MSCI World Private Equity Return Tracker Index (Net, USD, Unhedged).

PSP The fund seeks exposure to listed private-equity companies through an index of publicly traded securities, ADRs and GDRs. Eligible companies invest in, lend to, or provide services to privately held businesses.

Why people hold it

• GTPE Peers like PSP and GPZ own listed buyout shops and alt managers. GTPE goes wider: roughly 1,600 developed-market stocks tilted to growth, value, momentum and low volatility.
• 0.50% a year sits at the low end of the listed private-markets shelf, where the long-running incumbent PSP charges 1.80%.
• A plain 1940 Act ETF holding public equities: trades any market day, no capital calls, no lockup, no accreditation requirement.

• PSP Listed since 2006, it is the long-standing option on the listed-private-markets shelf: roughly 70 global names, non-US firms included via ADRs and GDRs.
• Wide net by design. The index takes companies that invest in, lend to, or provide services to privately held businesses, so buyout shops, alt managers and BDCs ride in one ticker.sec.gov
• Most of the 1.75% headline is acquired fund fees, indirect costs passed through from the listed vehicles it holds, not Invesco's own advisory fee.sec.gov
• Income-heavy underlying holdings, and the fund distributes quarterly.

Worth knowing

• GTPE A proxy, not the real thing. You own public stocks selected to echo private equity's return pattern, not stakes in private companies.
• Launched in October 2025 and still small and thinly traded, which can mean wider bid-ask spreads and a short record to judge it on.
• Developed markets only. Private-market activity in emerging economies sits outside the mandate.

• PSP Headline cost runs above index-style peers such as GPZ (0.40%) and GTPE (0.50%), even though it sits below the category median, which some BDC funds drag higher.
• A smaller, thinly traded fund, so spreads can be wider than on a mainstream ETF and large orders need more care.
• Holdings are leveraged, cyclical financials whose shares can swing harder than broad global equity through credit and deal cycles.sec.gov

Full GTPE profile⁠

Full PSP profile⁠