The VanEck Alternative Asset Manager ETF (GPZ Quick QuoteGPZ - Free Report) was launched on June 4, 2025, and is a passively managed exchange traded fund designed to offer broad exposure to the Financials - BDCs/PE segment of the equity market.

An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.

Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Financials - BDCs/PE is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 5, placing it in top 31%.

Index Details

The fund is sponsored by Van Eck. It has amassed assets over $237.58 million, making it one of the average sized ETFs attempting to match the performance of the Financials - BDCs/PE segment of the equity market. GPZ seeks to match the performance of the MARKETVECTOR ALTERNATIVE ASSET MNGRS ID before fees and expenses.

The MarketVector Alternative Asset Managers Index tracks the overall performance of alterative asset managers across private equity, venture capital, private credit, private real estate and private infrastructure.

Costs

Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Annual operating expenses for this ETF are 0.4%, making it on par with most peer products in the space.

Sector Exposure and Top Holdings

ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

This ETF has heaviest allocation in the Financials sector -- about 76.1% of the portfolio. Real Estate and Energy round out the top three.

Looking at individual holdings, Brookfield Corp (BN) accounts for about 12.78% of total assets, followed by Blackstone Inc (BX) and Kkr & Co Inc (KKR).

The top 10 holdings account for about 71.17% of total assets under management.

Performance and Risk

Year-to-date, the VanEck Alternative Asset Manager ETF has lost about 21.29% so far, and is down about 18.68% over the last 12 months (as of 10/21/2026). GPZ has traded between $20.18 and $28.8 in this past 52-week period.

The ETF has a beta of 1.00 and standard deviation of 26.6% for the trailing three-year period. With about 25 holdings, it has more concentrated exposure than peers.

Alternatives

VanEck Alternative Asset Manager ETF sports a Zacks ETF Rank of 4 (Sell), which is based on expected asset class return, expense ratio, and momentum, among other factors. GPZ, then, is not a great choice for investors seeking exposure to the Financials ETFs segment of the market. However, there are better ETFs in the space to consider.

Invesco Global Listed Private Equity ETF (PSP) tracks Red Rocks Global Listed Private Equity Index and the VanEck BDC Income ETF (BIZD) tracks MVIS US Business Development Companies Index. Invesco Global Listed Private Equity ETF has $214.70 million in assets, VanEck BDC Income ETF has $1.40 billion. PSP has an expense ratio of 1.75%, and BIZD charges 9.69%.

Bottom Line

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