Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Goldman Sachs High Yield Floating Rate Fund
mutual fund
GFRCX
Payout Change
Pending
Price as of:
$8.88
+0.0
+0.0%
primary theme
Bank Loan
GFRCX (Mutual Fund)
Goldman Sachs High Yield Floating Rate Fund
Payout Change
Pending
Price as of:
$8.88
+0.0
+0.0%
primary theme
Bank Loan
GFRCX (Mutual Fund)
Goldman Sachs High Yield Floating Rate Fund
Payout Change
Pending
Price as of:
$8.88
+0.0
+0.0%
primary theme
Bank Loan
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
7.4%
1 yr return
8.1%
3 Yr Avg Return
4.8%
5 Yr Avg Return
3.9%
Net Assets
$1.95 B
Holdings in Top 10
9.3%
52 WEEK LOW AND HIGH
$8.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.85%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 26.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GFRCX - Profile
Distributions
- YTD Total Return 7.4%
- 3 Yr Annualized Total Return 4.8%
- 5 Yr Annualized Total Return 3.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.31%
- Dividend Yield 6.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameGoldman Sachs High Yield Floating Rate Fund
-
Fund Family NameGoldman Sachs Fund Complex
-
Inception DateMar 31, 2011
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPeter Campo
Fund Description
The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in domestic or foreign floating rate loans and other floating or variable rate obligations rated below investment grade. Non-investment grade obligations are those rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.”The Fund’s investments in floating and variable rate obligations may include, without limitation, senior secured loans (including assignments and participations), second lien loans, senior unsecured and subordinated loans, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper), debt issued by governments, their agencies and instrumentalities, and debt issued by central banks. The Fund may invest indirectly in loans by purchasing participations or sub-participations from financial institutions. Participations and sub-participations represent the right to receive a portion of the principal of, and all of the interest relating to such portion of, the applicable loan. The Fund expects to invest principally in the U.S. loan market and, to a lesser extent, in the European loan market. The Fund may also invest in other loan markets, although it does not currently intend to do so.Under normal conditions, the Fund may invest up to 20% of its Net Assets in fixed income instruments, of any credit rating, including fixed rate corporate bonds, government bonds, convertible debt obligations, and mezzanine fixed income instruments. The Fund may also invest in floating or variable rate instruments that are rated investment grade and in preferred stock, repurchase agreements and cash securities.The Fund may also invest in derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate or index. The Fund’s investments in derivatives may include credit default swaps on credit and loan indices, forward contracts and total return swaps, among others. The Fund may use currency management techniques, such as forward foreign currency contracts, for hedging or non-hedging purposes. The Fund may invest in interest rate futures and swaps to manage the portfolio’s duration. Derivatives that provide exposure to floating or variable rate loans or obligations rated below investment grade are counted towards the Fund’s 80% policy.The Fund may also seek to obtain exposure to fixed income investments through investments in affiliated or unaffiliated investment companies, including exchange-traded funds (“ETFs”).The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Credit Suisse Leveraged Loan Index, plus or minus one year, and over the last five years ended June 30, 2024, the duration of this index has ranged between 0.03 and 0.19 years. The Fund’s investments in floating rate obligations will generally have short to intermediate maturities (approximately 4-7 years). “Duration” is a measure of a debt security’s price sensitivity to changes in interest rates. The longer the duration of the Fund (or an individual debt security), the more sensitive its market price to changes in interest rates. For example, if market interest rates increase by 1%, the market price of a debt security with a positive duration of 3 years will generally decrease by approximately 3%. Conversely, a 1% decline in market interest rates will generally result in an increase of approximately 3% of that security’s market price.The Fund’s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. As part of the Investment Adviser’s fundamental investment process, the Investment Adviser may integrate environmental, social and governance (“ESG”) factors alongside traditional fundamental factors. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate. No one factor or consideration is determinative in the fundamental investment process.The Investment Adviser measures the Fund’s performance against the Credit Suisse Leveraged Loan Index.
Read More
GFRCX - Performance
Return Ranking - Trailing
| Period | GFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.4% | -3.4% | 10.8% | 81.89% |
| 1 Yr | 8.1% | -3.2% | 12.9% | 83.77% |
| 3 Yr | 4.8%* | -6.8% | 7.9% | 74.32% |
| 5 Yr | 3.9%* | -6.1% | 38.3% | 73.86% |
| 10 Yr | 3.2%* | -1.9% | 20.0% | 80.22% |
* Annualized
Return Ranking - Calendar
| Period | GFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.8% | -12.0% | 11.1% | 60.00% |
| 2022 | -7.5% | -22.9% | 5.1% | 52.71% |
| 2021 | 0.9% | -12.2% | 11.1% | 56.35% |
| 2020 | -1.9% | -14.1% | 289.8% | 28.51% |
| 2019 | 3.7% | -8.1% | 7.5% | 14.47% |
Total Return Ranking - Trailing
| Period | GFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.4% | -3.4% | 10.8% | 81.89% |
| 1 Yr | 8.1% | -3.2% | 12.9% | 83.77% |
| 3 Yr | 4.8%* | -6.8% | 7.9% | 74.32% |
| 5 Yr | 3.9%* | -6.1% | 38.3% | 73.86% |
| 10 Yr | 3.2%* | -1.9% | 20.0% | 80.22% |
* Annualized
Total Return Ranking - Calendar
| Period | GFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.6% | -12.0% | 22.1% | 72.45% |
| 2022 | -2.9% | -22.9% | 5.1% | 64.34% |
| 2021 | 3.5% | -10.2% | 11.1% | 82.54% |
| 2020 | 1.8% | -14.1% | 306.9% | 47.93% |
| 2019 | 8.2% | -3.6% | 10.5% | 35.32% |
NAV & Total Return History
GFRCX - Holdings
Concentration Analysis
| GFRCX | Category Low | Category High | GFRCX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.95 B | 29.9 M | 13.5 B | 25.48% |
| Number of Holdings | 414 | 2 | 2051 | 37.74% |
| Net Assets in Top 10 | 185 M | -191 M | 2.37 B | 31.13% |
| Weighting of Top 10 | 9.25% | 5.2% | 100.7% | 83.20% |
Top 10 Holdings
- Goldman Sachs Financial Square Government Fund 2.08%
- Invesco Senior Loan ETF 1.26%
- SPDR Blackstone Senior Loan ETF 1.25%
- IRB Holding Corp 2024 Term Loan B 0.76%
- TK Elevator US Newco Inc USD Term Loan B 0.69%
- Verisure Holding AB 2021 EUR Term Loan 0.67%
- CQP Holdco LP 2024 Term Loan B 0.64%
- Delek US Holdings Inc 2022 Term Loan B 0.64%
- Alterra Mountain Company 2024 Term Loan B4 0.64%
- APX Group Inc 2021 Term Loan B 0.62%
Asset Allocation
| Weighting | Return Low | Return High | GFRCX % Rank | |
|---|---|---|---|---|
| Bonds | 93.53% | 0.00% | 161.82% | 58.37% |
| Stocks | 5.60% | 0.00% | 100.74% | 10.51% |
| Cash | 0.93% | -61.90% | 16.36% | 73.54% |
| Convertible Bonds | 0.08% | 0.00% | 5.51% | 37.25% |
| Preferred Stocks | 0.01% | -3.99% | 7.54% | 26.07% |
| Other | -0.07% | -52.39% | 26.58% | 92.22% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GFRCX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 63.56% |
| Technology | 0.00% | 0.00% | 100.00% | 57.20% |
| Real Estate | 0.00% | 0.00% | 48.61% | 44.07% |
| Industrials | 0.00% | 0.00% | 100.00% | 66.53% |
| Healthcare | 0.00% | 0.00% | 100.00% | 45.34% |
| Financial Services | 0.00% | 0.00% | 89.61% | 54.66% |
| Energy | 0.00% | 0.00% | 100.00% | 32.20% |
| Communication Services | 0.00% | 0.00% | 100.00% | 16.95% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 35.59% |
| Consumer Cyclical | 0.00% | 0.00% | 97.66% | 73.31% |
| Basic Materials | 0.00% | 0.00% | 1.36% | 50.85% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GFRCX % Rank | |
|---|---|---|---|---|
| US | 5.42% | -0.01% | 100.74% | 12.84% |
| Non US | 0.18% | 0.00% | 0.68% | 6.61% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GFRCX % Rank | |
|---|---|---|---|---|
| Corporate | 88.94% | 0.00% | 99.80% | 56.47% |
| Securitized | 0.91% | 0.00% | 91.68% | 32.94% |
| Cash & Equivalents | 0.60% | 0.00% | 25.03% | 66.54% |
| Municipal | 0.00% | 0.00% | 0.47% | 25.10% |
| Government | 0.00% | 0.00% | 3.18% | 42.35% |
| Derivative | -0.07% | -11.46% | 0.67% | 94.16% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GFRCX % Rank | |
|---|---|---|---|---|
| US | 89.65% | 0.00% | 124.50% | 60.31% |
| Non US | 3.88% | 0.00% | 63.23% | 33.85% |
GFRCX - Expenses
Operational Fees
| GFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.85% | 0.03% | 5.51% | 23.86% |
| Management Fee | 0.57% | 0.00% | 1.89% | 25.00% |
| 12b-1 Fee | 0.75% | 0.00% | 1.00% | 70.68% |
| Administrative Fee | N/A | 0.02% | 0.27% | N/A |
Sales Fees
| GFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 1.00% | 27.50% |
Trading Fees
| GFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| GFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 26.00% | 4.00% | 180.00% | 7.02% |
GFRCX - Distributions
Dividend Yield Analysis
| GFRCX | Category Low | Category High | GFRCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.57% | 0.00% | 11.13% | 78.87% |
Dividend Distribution Analysis
| GFRCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| GFRCX | Category Low | Category High | GFRCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.31% | 1.77% | 9.82% | 96.84% |
Capital Gain Distribution Analysis
| GFRCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.049 | OrdinaryDividend |
| Oct 31, 2024 | $0.050 | OrdinaryDividend |
| Sep 30, 2024 | $0.052 | OrdinaryDividend |
| Aug 30, 2024 | $0.061 | OrdinaryDividend |
| Jul 31, 2024 | $0.058 | OrdinaryDividend |
| Apr 30, 2024 | $0.052 | OrdinaryDividend |
| Mar 28, 2024 | $0.057 | OrdinaryDividend |
| Feb 29, 2024 | $0.055 | OrdinaryDividend |
| Jan 31, 2024 | $0.058 | OrdinaryDividend |
| Dec 29, 2023 | $0.058 | OrdinaryDividend |
| Nov 30, 2023 | $0.061 | OrdinaryDividend |
| Oct 31, 2023 | $0.062 | OrdinaryDividend |
| Sep 29, 2023 | $0.058 | OrdinaryDividend |
| Aug 31, 2023 | $0.059 | OrdinaryDividend |
| Jul 31, 2023 | $0.059 | OrdinaryDividend |
| Jun 30, 2023 | $0.054 | OrdinaryDividend |
| May 31, 2023 | $0.054 | OrdinaryDividend |
| Apr 28, 2023 | $0.055 | OrdinaryDividend |
| Mar 31, 2023 | $0.054 | OrdinaryDividend |
| Feb 28, 2023 | $0.050 | OrdinaryDividend |
| Jan 31, 2023 | $0.054 | OrdinaryDividend |
| Dec 30, 2022 | $0.052 | OrdinaryDividend |
| Dec 22, 2022 | $0.037 | OrdinaryDividend |
| Nov 30, 2022 | $0.045 | OrdinaryDividend |
| Oct 31, 2022 | $0.044 | OrdinaryDividend |
| Sep 30, 2022 | $0.039 | OrdinaryDividend |
| Aug 31, 2022 | $0.036 | OrdinaryDividend |
| Jul 29, 2022 | $0.032 | OrdinaryDividend |
| Jun 30, 2022 | $0.025 | OrdinaryDividend |
| May 31, 2022 | $0.024 | OrdinaryDividend |
| Apr 29, 2022 | $0.020 | OrdinaryDividend |
| Mar 31, 2022 | $0.021 | OrdinaryDividend |
| Feb 28, 2022 | $0.017 | OrdinaryDividend |
| Jan 31, 2022 | $0.016 | OrdinaryDividend |
| Dec 31, 2021 | $0.019 | OrdinaryDividend |
| Dec 23, 2021 | $0.005 | OrdinaryDividend |
| Nov 30, 2021 | $0.017 | OrdinaryDividend |
| Oct 29, 2021 | $0.018 | OrdinaryDividend |
| Sep 30, 2021 | $0.017 | OrdinaryDividend |
| Aug 31, 2021 | $0.019 | OrdinaryDividend |
| Jul 30, 2021 | $0.019 | OrdinaryDividend |
| Jun 30, 2021 | $0.017 | OrdinaryDividend |
| May 28, 2021 | $0.017 | OrdinaryDividend |
| Apr 30, 2021 | $0.017 | OrdinaryDividend |
| Mar 31, 2021 | $0.019 | OrdinaryDividend |
| Feb 26, 2021 | $0.016 | OrdinaryDividend |
| Jan 29, 2021 | $0.020 | OrdinaryDividend |
| Dec 31, 2020 | $0.022 | OrdinaryDividend |
| Nov 30, 2020 | $0.022 | OrdinaryDividend |
| Oct 30, 2020 | $0.023 | OrdinaryDividend |
| Sep 30, 2020 | $0.021 | OrdinaryDividend |
| Aug 31, 2020 | $0.023 | OrdinaryDividend |
| Jul 31, 2020 | $0.024 | OrdinaryDividend |
| Jun 30, 2020 | $0.023 | OrdinaryDividend |
| May 29, 2020 | $0.025 | OrdinaryDividend |
| Apr 30, 2020 | $0.027 | OrdinaryDividend |
| Mar 31, 2020 | $0.031 | OrdinaryDividend |
| Feb 28, 2020 | $0.027 | OrdinaryDividend |
| Jan 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 31, 2019 | $0.030 | OrdinaryDividend |
| Nov 29, 2019 | $0.030 | OrdinaryDividend |
| Oct 31, 2019 | $0.032 | OrdinaryDividend |
| Sep 30, 2019 | $0.031 | OrdinaryDividend |
| Aug 30, 2019 | $0.034 | OrdinaryDividend |
| Jul 31, 2019 | $0.034 | OrdinaryDividend |
| Dec 11, 2014 | $0.001 | CapitalGainLongTerm |
| Dec 12, 2013 | $0.008 | CapitalGainShortTerm |
| Dec 12, 2013 | $0.001 | CapitalGainLongTerm |
GFRCX - Fund Manager Analysis
Managers
Peter Campo
Start Date
Tenure
Tenure Rank
Mar 19, 2018
4.2
4.2%
Mr. Campo is a member of the High Yield and Bank Loans team. He joined Goldman Sachs Asset Management, L.P in 2018. Prior to joining Goldman Sachs Asset Management, L.P, he worked at Eaton Vance as a portfolio manager and research analyst.
Lori Pomerantz
Start Date
Tenure
Tenure Rank
Jan 29, 2021
1.33
1.3%
Mrs. Pomerantz is a Portfolio Manager on Goldman Sachs Asset Management, L.P. She joined the Goldman Sachs, initially in the Alternative Investments and Manager Selection (AIMS) business, where she spearheaded long only fixed income manager selection.
Ashish Shah
Start Date
Tenure
Tenure Rank
Jan 29, 2021
1.33
1.3%
Mr. Shah is Co-Chief Investment Officer of Global Fixed Income, Global Head of Corporate Credit and Head of the Cross-Sector Strategy within Fixed Income. Mr. Shah joined Goldman Sachs Asset Management, L.P. in 2018. Mr. Shah was previously at AllianceBernstein from 2010 to 2018, where he was most recently the Head of Fixed Income and Chief Investment Officer of Global Credit. Prior to AB, he was a managing director and head of Global Credit Strategy at Barclays Capital (2008-2010). From 2003 to 2008, Shah was the head of Credit Strategy at Lehman Brothers.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 21.18 | 6.08 | 3.25 |
