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Trending ETFs

Goldman Sachs Municipal Income Completion Fund

mutual fund
GSAAX
Payout Change
Pending
Price as of:
$9.94 -0.01 -0.1%
primary theme
N/A
share class
Instl (GSAAX)
GSAAX (Mutual Fund)

Goldman Sachs Municipal Income Completion Fund

Payout Change
Pending
Price as of:
$9.94 -0.01 -0.1%
primary theme
N/A
share class
Instl (GSAAX)
GSAAX (Mutual Fund)

Goldman Sachs Municipal Income Completion Fund

Payout Change
Pending
Price as of:
$9.94 -0.01 -0.1%
primary theme
N/A
share class
Instl (GSAAX)

Name

As of 12/10/2024

Price

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

Goldman Sachs Municipal Income Completion Fund

GSAAX | Fund

$9.94

$223 M

4.33%

$0.43

0.18%

Vitals

YTD Return

4.2%

1 yr return

6.5%

3 Yr Avg Return

-1.5%

5 Yr Avg Return

1.4%

Net Assets

$223 M

Holdings in Top 10

8.8%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/10/2024

Price

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

Goldman Sachs Municipal Income Completion Fund

GSAAX | Fund

$9.94

$223 M

4.33%

$0.43

0.18%

GSAAX - Profile

Distributions

  • YTD Total Return 4.2%
  • 3 Yr Annualized Total Return -1.5%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Municipal Income Completion Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Apr 01, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Diamond

Fund Description

The Fund invests, under normal market conditions, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) (“Net Assets”) in fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.The Fund may invest without limitation in Municipal Securities that, at the time of purchase, are non-investment grade (commonly referred to as “junk bonds”). Non-investment grade securities are securities 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. The Fund may purchase the securities of issuers that are in default.The Fund may, without limitation, use derivatives instead of buying and selling fixed income securities directly to manage duration, to gain exposure to individual securities or to gain exposure to a credit or asset-backed index. The Fund’s investments in derivatives may include futures contracts (including interest rate futures and treasury futures), options (including options on futures contracts, swaps, bonds, and indexes), and swaps (including credit default, index, total return, and interest rate swaps).The Fund may focus its investments in issuers within the same state or economic sector. The portfolio management team uses a multi-faceted approach when evaluating whether to add or maintain exposure to any individual position. A top-down approach is used to assess broad macro trends while a bottom-up analysis is used to determine relative value between individual securities. As part of the portfolio management team’s fundamental investment process, the team may integrate environmental, social and governance (“ESG”) factors alongside traditional fundamental factors. In addition, Individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting. No one factor or consideration is determinative in the fundamental investment process.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”). In addition, the Fund may invest in securities of other investment companies (specifically, registered money market funds) to manage uninvested cash in the Fund.Under normal interest rate conditions, the Fund’s duration is expected to range between two and eight 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 Investment Adviser measures the Fund’s performance against the Bloomberg Municipal Bond 1-10 Year Blend Index.
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GSAAX - Performance

Return Ranking - Trailing

Period GSAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -5.0% 3.7% 79.00%
1 Yr 6.5% -4.5% 4.2% 60.61%
3 Yr -1.5%* -1.3% 2.4% N/A
5 Yr 1.4%* -0.7% 1.7% N/A
10 Yr N/A* -0.4% 2.5% N/A

* Annualized

Return Ranking - Calendar

Period GSAAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% 0.6% 5.7% N/A
2022 -15.2% -3.5% -0.2% N/A
2021 2.8% 0.2% 4.9% N/A
2020 2.6% -3.9% 0.4% N/A
2019 N/A -2.1% 2.1% N/A

Total Return Ranking - Trailing

Period GSAAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -5.0% 3.7% 79.00%
1 Yr 6.5% -4.5% 4.0% 60.61%
3 Yr -1.5%* -1.3% 2.8% N/A
5 Yr 1.4%* -0.7% 3.0% N/A
10 Yr N/A* -0.4% 3.6% N/A

* Annualized

Total Return Ranking - Calendar

Period GSAAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% 0.6% 5.9% N/A
2022 -12.0% -3.5% 1.6% N/A
2021 5.7% 0.5% 7.0% N/A
2020 5.9% -3.6% 2.0% N/A
2019 N/A -0.7% 3.9% N/A

NAV & Total Return History

GSAAX - Holdings

Concentration Analysis

GSAAX Category Low Category High GSAAX % Rank
Net Assets 223 M 2.94 M 25 B N/A
Number of Holdings 978 10 4877 N/A
Net Assets in Top 10 19.5 M 1.94 M 834 M N/A
Weighting of Top 10 8.77% 2.3% 99.7% N/A

Top 10 Holdings

  1. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.32%
  2. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.21%
  3. Florida Development Finance Corp 1.18%
  4. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.00%
  5. Commonwealth of Massachusetts 0.77%
  6. Louisiana Public Facilities Authority 0.75%
  7. Metropolitan Washington Airports Authority Aviation Revenue 0.67%
  8. New Jersey Transportation Trust Fund Authority 0.65%
  9. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.63%
  10. City of Detroit MI 0.60%

Asset Allocation

Weighting Return Low Return High GSAAX % Rank
Bonds 		99.03% 84.44% 113.60% N/A
Cash 		0.97% -15.59% 12.29% N/A
Stocks 		0.00% 0.00% 1.46% N/A
Preferred Stocks 		0.00% -0.11% 0.00% N/A
Other 		0.00% 0.00% 13.04% N/A
Convertible Bonds 		0.00% 0.00% 1.04% N/A

Bond Sector Breakdown

Weighting Return Low Return High GSAAX % Rank
Derivative 		0.00% 0.00% 0.00% N/A
Cash & Equivalents 		0.00% 0.00% 17.37% N/A
Securitized 		0.00% 0.00% 4.75% N/A
Corporate 		0.00% 0.00% 5.22% N/A
Municipal 		0.00% 46.78% 99.97% N/A
Government 		0.00% 0.00% 46.84% N/A

Bond Geographic Breakdown

Weighting Return Low Return High GSAAX % Rank
US 		99.03% 84.14% 104.58% N/A
Non US 		0.00% 0.00% 9.02% N/A

GSAAX - Expenses

Operational Fees

GSAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.18% 0.08% 21.19% N/A
Management Fee 0.00% 0.00% 0.97% 0.96%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

GSAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GSAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

GSAAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 5.00% 203.00% N/A

GSAAX - Distributions

Dividend Yield Analysis

GSAAX Category Low Category High GSAAX % Rank
Dividend Yield 4.33% 0.00% 3.04% 2.88%

Dividend Distribution Analysis

GSAAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

GSAAX Category Low Category High GSAAX % Rank
Net Income Ratio N/A 0.81% 3.69% N/A

Capital Gain Distribution Analysis

GSAAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

GSAAX - Fund Manager Analysis

Managers

Scott Diamond

Start Date

Tenure

Tenure Rank

Apr 01, 2019

0.16

0.2%

Mr. Diamond joined the Goldman Sachs Asset Management, L.P. in 2002 as a portfolio manager on the U.S. Municipals team. Before joining the Investment Adviser, Mr. Diamond worked for Prudential Financial for nine years where he served as the portfolio manager for national and state specific mutual funds, as well as managing the municipal portfolio of several institutional accounts.

Ben Barber

Start Date

Tenure

Tenure Rank

Apr 01, 2019

0.16

0.2%

Mr. Barber is the Head of the Municipals team. Mr. Barber joined the Goldman Sachs Asset Management, L.P. in 1999 as a portfolio manager, and prior to that, he was with Franklin Advisers from 1991 to 1999. Barber is a member of the National Federation of Municipal Analysts, the California Society of Municipal Analysts and the Municipal Bond Club of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.25 6.75 0.17

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