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Trending ETFs

Goldman Sachs Income Builder Fund

mutual fund
GSBUX
Payout Change
Pending
Price as of:
$25.65 +0.04 +0.16%
primary theme
U.S. Conservative/Balanced Allocation
GSBUX (Mutual Fund)

Goldman Sachs Income Builder Fund

Payout Change
Pending
Price as of:
$25.65 +0.04 +0.16%
primary theme
U.S. Conservative/Balanced Allocation
GSBUX (Mutual Fund)

Goldman Sachs Income Builder Fund

Payout Change
Pending
Price as of:
$25.65 +0.04 +0.16%
primary theme
U.S. Conservative/Balanced Allocation

Name

As of 05/21/2024

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

$25.65

$2.3 B

4.61%

$1.18

0.61%

Vitals

YTD Return

4.4%

1 yr return

13.5%

3 Yr Avg Return

3.3%

5 Yr Avg Return

6.7%

Net Assets

$2.3 B

Holdings in Top 10

9.5%

52 WEEK LOW AND HIGH

$25.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.61%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 47.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/21/2024

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

$25.65

$2.3 B

4.61%

$1.18

0.61%

GSBUX - Profile

Distributions

  • YTD Total Return 4.4%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 6.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.44%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Income Builder Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Jul 31, 2015
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ron Arons

Fund Description

The Fund seeks to provide income through investments in fixed income securities (bonds) and high dividend paying equities, preferred equities and other similar securities (stocks). The Fund also seeks to provide income by writing call options. The Fund seeks to achieve capital appreciation primarily through equity securities. The percentage of the portfolio invested in equity and fixed income securities will vary from time to time as the Investment Adviser evaluates such securities’ relative attractiveness based on, among other factors, income opportunities, market valuations, economic growth and inflation prospects. The Fund has a baseline allocation to fixed income securities of 60% and to equity securities of 40%. In seeking to meet its investment objective, the Fund has the flexibility to opportunistically tilt the allocation to fixed income and equity securities up to 15% above or below the baseline allocation, measured at the time of investment.Equity Investments. The Fund may invest up to 55% of its total assets (not including securities lending collateral and any investment of that collateral) (“Total Assets”) measured at the time of purchase in equity investments, which include, among others, U.S. common stocks, preferred stocks and American Depositary Receipts (“ADRs”) of U.S. and foreign issuers (including issuers in countries with emerging markets or economies (“emerging countries”)), as well as master limited partnerships (“MLPs”), real estate investment trusts (“REITs”) and affiliated and unaffiliated investment companies, including exchange-traded funds (“ETFs”). With respect to the equity portion of the Fund’s portfolio, the Investment Adviser employs a value investment philosophy and seeks to identify quality businesses selling at compelling valuations. The Investment Adviser expects that equity investments will be weighted in favor of companies which pay dividends or other current income. While the Fund may invest in companies of any market capitalization, the Investment Adviser will typically favor equity securities of large-cap companies.Fixed Income Investments. The Fund may invest up to 75% of its Total Assets measured at the time of purchase in fixed income investments. The Fund’s fixed income investments may include, among others:Securities issued by corporations, banks and other issuers, including non-investment grade securitiesSecurities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”)Securities issued or guaranteed by foreign governments or any of their political subdivisions, agencies, or instrumentalities and foreign corporations or other entities.The Fund may also seek to obtain exposure to these investments through investments in affiliated or unaffiliated investment companies, including ETFs.The Fund’s investments in foreign fixed income securities may include securities of foreign issuers (including issuers in emerging countries) and securities denominated in a currency other than the U.S. dollar.The Fund may invest in both non-investment grade and investment grade fixed income securities. Non-investment grade fixed income securities (commonly known as “junk bonds”), which are rated BB+ or lower by Standard & Poor’s Ratings Services (“Standard & Poor’s”), or Moody’s Investors Service, Inc. (“Moody’s”), or have a comparable rating by another nationally recognized statistical rating organization (“NRSRO”) (or, if unrated, determined by the Investment Adviser to be of comparable credit quality), at the time of investment. Non-investment grade securities may include, among others, non-investment grade bonds, non-investment grade floating rate loans and other floating or variable rate obligations. With respect to the fixed income portion of its portfolio, the Fund does not maintain a fixed target duration.Other Investments. The Fund may invest without limit in non-U.S. equity and non-U.S. fixed income securities.In addition to direct investments in equity and fixed income securities, the Fund may invest in derivatives, including credit default swaps (including credit default index swaps or “CDX”), total return swaps and futures, which can be used for both hedging purposes and to seek to increase total return. The Fund may also utilize various interest rate-related derivatives, including futures and swaps, to manage the duration of its fixed income positions. Additionally, the Fund may hedge its nondollar investments back to the U.S. dollar through the use of foreign currency derivatives, including currency futures and forward foreign currency contracts, or invest in such instruments for speculative purposes.The Fund seeks to generate additional cash flow and may reduce volatility by the sale of call options on the S&P 500® Index or other regional stock market indices (or related ETFs).The Fund expects that, under normal circumstances, it will sell put and call options in an amount up to 12% of the value of the Fund’s portfolio. The Fund expects to sell put and call options that are “out of the money.” As the seller of these options, the Fund will receive cash (the “premium”) from the purchaser. If the purchaser exercises the option, the Fund pays the purchaser the difference between the price of the index and the exercise price of the option. The premium, the exercise price and the market price of the index determine the gain or loss realized by the Fund as the seller of the call option. A put option gives the purchaser the right to sell the option’s underlier (e.g., a security or an index-linked instrument) at an agreed-upon exercise price prior to the option’s expiration, and a put option is “out of the money” when this exercise price is below the current market price of the underlier. Conversely, a call option gives the purchaser the right to buy the option’s underlier at an agreed-upon exercise price prior to the option’s expiration, and a call option is “out of the money” when this exercise price is above the current market price of the underlier. The Fund expects to sell out-of-the-money put and call options with the same underliers and expiration dates in what is referred to as a “strangle” strategy.Generally, a sold “strangle” position would realize gains from collected premiums when its underlier has a market price that is between the exercise prices of the associated put and call options. Losses may be experienced to the extent that the underlier has a market price that is either below the exercise price of the put option (subtracting any premiums from the exercise price) or above the exercise price of the call option (adding any premiums to the exercise price), i.e., if the strangle position expires “in the money.”The Fund expects to use total return swaps to gain exposure to the above-described option strategy. Income realized with respect to this strategy is generally expected to be characterized as ordinary income, which the Fund may periodically distribute to shareholders. The Fund’s transactions in swaps will be subject to special tax rules, which could affect the amount, timing and character of distributions to you. As a result of these rules, the Fund’s investment in total return swaps is expected to result in the Fund realizing more ordinary income subject to tax at ordinary income tax rates than if the Fund did not invest in such swaps.During periods in which the U.S. equity markets are generally unchanged or falling, or in a modestly rising market where the income from premiums exceeds the aggregate appreciation of the underlying index over its exercise price, a diversified portfolio receiving premiums from its call option writing strategy may outperform the same portfolio without such an options strategy. However, in rising markets where the aggregate appreciation of the underlying index over its exercise price exceeds the income from premiums, a portfolio with a call writing strategy could significantly underperform the same portfolio without the options.The Investment Adviser may decide to sell a position for various reasons, including valuation and price considerations, readjustment of the Investment Adviser’s outlook based on subsequent events, the Investment Adviser’s ongoing assessment of the quality and effectiveness of management, if new investment ideas offer the potential for better risk/reward profiles than existing holdings, or for risk management purposes.The Investment Adviser employs a fundamental investment process that may integrate environmental, social and governance (“ESG”) factors alongside traditional fundamental factors. No one factor or consideration is determinative in the fundamental investment process.The Fund’s benchmarks are the Russell 1000® Value Index and the ICE BofAML BB to B U.S. High Yield Constrained Index.
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GSBUX - Performance

Return Ranking - Trailing

Period GSBUX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 0.2% 16.5% 15.73%
1 Yr 13.5% 1.1% 33.2% 6.57%
3 Yr 3.3%* -14.2% 6.8% 6.75%
5 Yr 6.7%* -4.2% 8.0% 2.36%
10 Yr N/A* 0.1% 8.8% 9.75%

* Annualized

Return Ranking - Calendar

Period GSBUX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -1.3% 27.4% 57.51%
2022 -13.0% -35.0% -7.4% 15.44%
2021 3.6% -11.5% 14.6% 35.77%
2020 6.1% -10.3% 40.7% 30.08%
2019 15.1% -9.5% 22.1% 2.12%

Total Return Ranking - Trailing

Period GSBUX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 0.2% 16.5% 15.73%
1 Yr 13.5% 1.1% 33.2% 6.57%
3 Yr 3.3%* -14.2% 6.8% 6.75%
5 Yr 6.7%* -4.2% 8.0% 2.36%
10 Yr N/A* 0.1% 8.8% 10.08%

* Annualized

Total Return Ranking - Calendar

Period GSBUX Return Category Return Low Category Return High Rank in Category (%)
2023 10.8% -1.3% 28.2% 35.68%
2022 -9.3% -35.0% -3.1% 13.54%
2021 10.9% -11.5% 32.0% 11.92%
2020 10.0% -5.4% 40.7% 41.13%
2019 19.4% 4.5% 27.7% 5.56%

NAV & Total Return History


GSBUX - Holdings

Concentration Analysis

GSBUX Category Low Category High GSBUX % Rank
Net Assets 2.3 B 244 K 50.8 B 15.93%
Number of Holdings 834 3 5294 17.37%
Net Assets in Top 10 218 M 243 K 10.1 B 55.16%
Weighting of Top 10 9.53% 6.4% 127.7% 96.92%

Top 10 Holdings

  1. Goldman Sachs Financial Square Government Fund 1.40%
  2. Goldman Sachs MLP Energy Infrastructure Fund 1.31%
  3. JPMorgan Chase Co 1.17%
  4. Invesco QQQ Trust Series 1 1.04%
  5. Blackstone Inc 0.87%
  6. Bank of America Corp 0.77%
  7. CITIBANK NA DDCA 0.75%
  8. Exxon Mobil Corp 0.75%
  9. Johnson Johnson 0.75%
  10. Rio Tinto PLC 0.75%

Asset Allocation

Weighting Return Low Return High GSBUX % Rank
Bonds
54.22% 0.00% 80.16% 18.27%
Stocks
42.05% 0.00% 102.36% 74.71%
Cash
2.52% -35.68% 28.05% 34.74%
Convertible Bonds
0.96% 0.00% 71.77% 45.02%
Other
0.84% -0.27% 63.55% 15.73%
Preferred Stocks
0.37% 0.00% 21.95% 14.08%

Stock Sector Breakdown

Weighting Return Low Return High GSBUX % Rank
Financial Services
18.81% 0.00% 83.50% 6.21%
Healthcare
14.18% 0.00% 24.25% 21.96%
Energy
12.92% 0.00% 62.93% 4.06%
Industrials
10.91% 0.14% 17.90% 34.13%
Consumer Defense
10.05% 0.00% 18.62% 24.58%
Technology
9.75% 0.22% 27.92% 84.25%
Utilities
8.17% 0.00% 48.33% 9.07%
Real Estate
6.26% 0.00% 43.16% 45.58%
Consumer Cyclical
3.62% 0.00% 14.20% 90.69%
Basic Materials
3.28% 0.00% 32.82% 85.20%
Communication Services
2.04% 0.00% 11.11% 95.47%

Stock Geographic Breakdown

Weighting Return Low Return High GSBUX % Rank
US
42.05% 0.00% 102.36% 67.37%
Non US
0.00% 0.00% 23.57% 30.28%

Bond Sector Breakdown

Weighting Return Low Return High GSBUX % Rank
Corporate
85.47% 0.00% 96.66% 3.32%
Government
2.55% 0.00% 63.33% 93.60%
Derivative
0.84% -0.30% 63.54% 4.93%
Cash & Equivalents
0.75% 0.00% 28.05% 47.89%
Securitized
0.01% 0.00% 52.08% 90.05%
Municipal
0.00% 0.00% 99.85% 77.49%

Bond Geographic Breakdown

Weighting Return Low Return High GSBUX % Rank
US
53.07% 0.00% 80.16% 16.67%
Non US
1.15% 0.00% 18.69% 10.80%

GSBUX - Expenses

Operational Fees

GSBUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.61% 0.06% 7.81% 80.09%
Management Fee 0.51% 0.00% 1.25% 70.19%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

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

Trading Fees

GSBUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

GSBUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 47.00% 2.00% 380.00% 67.35%

GSBUX - Distributions

Dividend Yield Analysis

GSBUX Category Low Category High GSBUX % Rank
Dividend Yield 4.61% 0.00% 7.99% 18.50%

Dividend Distribution Analysis

GSBUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Quarterly

Net Income Ratio Analysis

GSBUX Category Low Category High GSBUX % Rank
Net Income Ratio 3.44% -1.22% 6.83% 8.79%

Capital Gain Distribution Analysis

GSBUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Monthly Annually

Distributions History

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GSBUX - Fund Manager Analysis

Managers

Ron Arons


Start Date

Tenure

Tenure Rank

Jan 28, 2013

9.34

9.3%

Ron is a portfolio manager in Goldman Sachs Asset Management (GSAM), responsible for core, long duration and other multi-sector fixed income strategies. He joined Goldman Sachs as a managing director in 2010. Prior to joining the firm, Ron worked for 16 years at J.P. Morgan Asset Management, where he was a managing director responsible for the management and distribution of a broad range of fixed income products. Before that, he worked at MetLife for seven years as a trader and portfolio manager. Ron earned a BBA in Accounting from The George Washington University and an MBA from the Stern School of Business at New York University. He is a CFA charterholder.

Collin Bell


Start Date

Tenure

Tenure Rank

Feb 26, 2016

6.26

6.3%

Collin Bell, is a Managing Director with GSAM. Prior to joining GSAM in 2008, he was a research analyst and senior relationship manager within affiliates of Goldman, Sachs & Co. Mr. Bell holds a B.A. from Amherst College.

Charles (Brook) Dane


Start Date

Tenure

Tenure Rank

Feb 26, 2016

6.26

6.3%

Charles (Brook) Dane is a portfolio manager on the US Equity Team of Goldman Sachs Asset Management, L.P. He joined the Goldman Sachs Asset Management, L.P. in 2010 as a portfolio manager for the Value Team. Before joining the firm, Mr. Dane was a Senior Vice President at Putnam Investments. He spent 13 years at Putnam Investments as a research analyst and more recently as a portfolio manager there. Prior to that, he was an Associate at Dane, Falb, Stone & Co.

Ashish Shah


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

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.

Neill Nuttall


Start Date

Tenure

Tenure Rank

May 24, 2021

1.02

1.0%

Neill Nuttall is a managing director and the chief investment officer of the Multi-Asset Solutions Group (MAS) in Goldman Sachs Asset Management (GSAM). He also serves as chairman of the MAS Investment Committee. Neill joined Goldman Sachs as a managing director in GSAM in 2014. Prior to joining the firm, Neill worked for almost 30 years at JPMorgan Asset Management (JPMAM) and its heritage firms, based for 14 years in Hong Kong and subsequently in London. From 2006, Neill served as chief investment officer and head of JPMAM’s Global Multi Asset Group (GMAG) and latterly as head of Asset Allocation for GMAG. Prior to joining GMAG, Neill served as a managing director and senior strategist within JPMAM’s Currency Group. Previous roles included senior investing positions at Jardine Fleming Investment Management in the International Multi-Asset Portfolios Group. Prior to joining JPMAM, Neill worked for Standard Chartered Bank in Hong Kong and Thailand. Neill earned a BA (Hons) in politics from the University of Exeter.

Alexandra Wilson-Elizondo


Start Date

Tenure

Tenure Rank

Jan 03, 2022

0.41

0.4%

Alexandra Wilson-Elizondo Head of multi-asset funds and model portfolio management within the Multi-Asset Solutions Group; employed with Goldman Sachs Asset Management, L.P. since 2021; prior to 2021, employed by MacKay Shields as an Associate Director since 2015. Prior to joining MacKay Shields, Ms. Wilson-Elizondo was a Manager, Senior Trader, and ETF Trader at Vanguard, managing corporate credit for Vanguard’s index funds and with responsibilities in index management ETF construction and trading (2008 – 2015). Ms. Wilson-Elizondo received a BA from Haverford College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 28.73 6.41 2.41