Goldman Sachs launches new buffer ETF for market protection

Goldman Sachs Asset Management has launched a new buffer exchange-traded fund (ETF) called the Goldman Sachs U.S. Large Cap Buffer 3 ETF. This fund aims to provide downside protection for investors during market volatility. The ETF is designed to protect against losses between 5% and 15%, while allowing for gains of 5% to 7%. This product resets quarterly and is part of Goldman Sachs' strategy to expand investment options for clients. Since its launch on March 4, the new ETF has decreased by about 3%, while the S&P 500 has fallen nearly 4% in the same period.