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Goldman Sachs Dynamic Bond Fund
mutual fund
GSZCX
Payout Change
Pending
Price as of:
$9.39
-0.02
-0.21%
primary theme
Bond Sector Diversified
GSZCX (Mutual Fund)
Goldman Sachs Dynamic Bond Fund
Payout Change
Pending
Price as of:
$9.39
-0.02
-0.21%
primary theme
Bond Sector Diversified
GSZCX (Mutual Fund)
Goldman Sachs Dynamic Bond Fund
Payout Change
Pending
Price as of:
$9.39
-0.02
-0.21%
primary theme
Bond Sector Diversified
Name
As of 12/13/2024Price
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
5.5%
1 yr return
6.2%
3 Yr Avg Return
3.7%
5 Yr Avg Return
3.3%
Net Assets
$667 M
Holdings in Top 10
62.7%
52 WEEK LOW AND HIGH
$9.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.90%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 416.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
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
GSZCX - Profile
Distributions
- YTD Total Return 5.5%
- 3 Yr Annualized Total Return 3.7%
- 5 Yr Annualized Total Return 3.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.18%
- Dividend Yield 4.4%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameGoldman Sachs Dynamic Bond Fund
-
Fund Family NameGoldman Sachs Fund Complex
-
Inception DateJun 30, 2010
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAshish Shah
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 a broadly diversified portfolio of U.S. and foreign investment grade and non-investment grade bonds and other fixed income investments.The types of bonds and other fixed income investments in which the Fund may invest include, but are not limited to: U.S. Government securities (such as U.S. Treasury securities or Treasury inflation protected securities and including agency issued adjustable rate and fixed rate mortgage-backed securities or other mortgage-related securities (“Agency Mortgage-Backed Securities”)), non-U.S. sovereign debt, agency securities, corporate debt securities, privately issued adjustable rate and fixed rate mortgage-backed securities or other mortgage-related securities (“Private Mortgage-Backed Securities” and, together with Agency Mortgage-Backed Securities, “Mortgage-Backed Securities”), asset-backed securities (including collateralized loan obligations (“CLOs”)), custodial receipts, municipal securities, loan participations and loan assignments and convertible securities. The Fund’s investments in loan participations and loan assignments may include, but are not limited to: (a) senior secured floating rate and fixed rate loans or debt (“Senior Loans”), (b) second lien or other subordinated or unsecured floating rate and fixed rate loans or debt (“Second Lien Loans”) and (c) other types of secured or unsecured loans with fixed, floating or variable interest rates. The Fund may invest in fixed income securities of any maturity.Non-investment grade fixed income 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 invest in sovereign and corporate debt securities and other instruments of issuers in emerging market countries (“emerging countries debt”). Such investments may include sovereign debt issued by emerging countries that have sovereign ratings below investment grade or that are unrated. There is no limitation to the amount the Fund invests in non-investment grade or emerging market securities. From time to time, the Fund may also invest in preferred stock. The Fund’s investments may be denominated in currencies other than the U.S. dollar.The Fund may engage in forward foreign currency transactions for both hedging and non-hedging purposes. The Fund also intends to invest in other derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate, interest rate or index. The Fund’s investments in derivatives may include, in addition to forward foreign currency exchange contracts, futures contracts (including interest rate futures and treasury and sovereign bond futures), options (including options on futures contracts, swaps, bonds, stocks and indexes), swaps (including credit default, index, basis, total return, volatility, interest rate and currency swaps), and other forward contracts. The Fund may use derivatives instead of buying and selling bonds to manage duration, to gain exposure or to short individual securities or to gain exposure to a credit or asset backed index. The Fund may gain exposure to Agency Mortgage-Backed Securities through several methods, including by utilizing to-be-announced (“TBA”) agreements in Agency Mortgage-Backed Securities or through the use of reverse repurchase agreements. TBA agreements for Agency Mortgage-Backed Securities are standardized contracts for future delivery of fixed-rate mortgage pass-through securities in which the exact mortgage pools to be delivered are not specified until shortly before settlement. A reverse repurchase agreement enables the Fund to gain exposure to specified pools of Agency Mortgage-Backed Securities by purchasing them on a forward settling basis and using the proceeds of the reverse repurchase agreement to settle the trade.The Fund may implement short positions and may do so by using swaps, options or futures, TBA agreements in Agency Mortgage-Backed Securities, or through short sales of any instrument that the Fund may purchase for investment. For example, the Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the Fund a short position with respect to that asset. The Fund may utilize short positions to implement macro views on securities valuations, long term views on relative value or short term views on security mispricings, as well as any other views the Investment Adviser deems appropriate. For example, the Fund may enter into a TBA agreement to sell an Agency Mortgage-Backed Security that it believes will underperform. The Fund will benefit from a short position to the extent the asset decreases in value (and will be harmed to the extent the asset increases in value) between the time it enters into the futures contract and the agreed date of sale. Alternatively, the Fund may sell an instrument (e.g., a bond, or a futures contract) it does not own in anticipation of a decline in the market value of the instrument, and then borrow the instrument to make delivery to the buyer. In these transactions, the Fund is obligated to replace the instrument borrowed by purchasing it at the market price at the time of replacement.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”).“Dynamic” in the Fund’s name means that the Fund implements a flexible bond strategy that invests tactically across the global fixed income universe. The Fund attempts to exploit pricing anomalies throughout the global fixed income and currency markets. Additionally, the Fund uses short positions and derivatives for both investment and hedging purposes. The Fund may sell investments that the portfolio managers believe are no longer favorable with regard to these factors.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 Investment Adviser measures the Fund’s performance against the ICE BofA Three-Month U.S. Treasury Bill Index.
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GSZCX - Performance
Return Ranking - Trailing
| Period | GSZCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -11.1% | 18.9% | 72.14% |
| 1 Yr | 6.2% | -9.2% | 20.8% | 69.97% |
| 3 Yr | 3.7%* | -16.9% | 16.8% | 16.19% |
| 5 Yr | 3.3%* | -14.7% | 13.4% | 24.46% |
| 10 Yr | 1.6%* | -7.0% | 7.1% | 83.92% |
* Annualized
Return Ranking - Calendar
| Period | GSZCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.6% | -12.0% | 8.9% | 1.70% |
| 2022 | -6.1% | -31.8% | 18.4% | 14.26% |
| 2021 | -3.7% | -16.2% | 25.7% | 84.92% |
| 2020 | 5.3% | -31.1% | 18.7% | 13.90% |
| 2019 | 2.4% | -6.1% | 15.3% | 75.53% |
Total Return Ranking - Trailing
| Period | GSZCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -11.1% | 18.9% | 72.14% |
| 1 Yr | 6.2% | -9.2% | 20.8% | 69.97% |
| 3 Yr | 3.7%* | -16.9% | 16.8% | 16.19% |
| 5 Yr | 3.3%* | -14.7% | 13.4% | 24.46% |
| 10 Yr | 1.6%* | -7.0% | 7.1% | 83.92% |
* Annualized
Total Return Ranking - Calendar
| Period | GSZCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -6.9% | 22.2% | 20.56% |
| 2022 | -4.5% | -31.8% | 21.1% | 23.93% |
| 2021 | -2.2% | -13.5% | 49.9% | 92.46% |
| 2020 | 8.4% | -28.6% | 24.1% | 17.47% |
| 2019 | 4.7% | -4.8% | 19.1% | 85.74% |
NAV & Total Return History
GSZCX - Holdings
Concentration Analysis
| GSZCX | Category Low | Category High | GSZCX % Rank | |
|---|---|---|---|---|
| Net Assets | 667 M | 2.63 M | 143 B | 52.23% |
| Number of Holdings | 1396 | 4 | 9638 | 16.38% |
| Net Assets in Top 10 | 472 M | -204 M | 89.4 B | 34.79% |
| Weighting of Top 10 | 62.69% | 5.8% | 265.8% | 19.18% |
Top 10 Holdings
- Uniform Mortgage-Backed Security, TBA 12.76%
- Ginnie Mae 8.78%
- Ginnie Mae 6.52%
- Ginnie Mae 6.17%
- Ginnie Mae 6.08%
- Ginnie Mae 5.90%
- U.S. Treasury Notes 4.74%
- Uniform Mortgage-Backed Security, TBA 4.70%
- Uniform Mortgage-Backed Security, TBA 3.96%
- U.S. Treasury Inflation-Indexed Bonds 3.07%
Asset Allocation
| Weighting | Return Low | Return High | GSZCX % Rank | |
|---|---|---|---|---|
| Bonds | 120.00% | 0.00% | 199.60% | 7.96% |
| Other | 4.48% | -75.22% | 147.15% | 44.15% |
| Stocks | 0.56% | -6.18% | 99.68% | 45.87% |
| Convertible Bonds | 0.35% | 0.00% | 33.50% | 70.83% |
| Preferred Stocks | 0.00% | 0.00% | 21.58% | 99.69% |
| Cash | 0.00% | -94.66% | 99.97% | 97.97% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GSZCX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 77.67% |
| Technology | 0.00% | 0.00% | 28.30% | 77.18% |
| Real Estate | 0.00% | 0.00% | 100.00% | 79.13% |
| Industrials | 0.00% | 0.00% | 100.00% | 79.61% |
| Healthcare | 0.00% | 0.00% | 18.60% | 76.21% |
| Financial Services | 0.00% | 0.00% | 100.00% | 80.58% |
| Energy | 0.00% | 0.00% | 100.00% | 5.83% |
| Communication Services | 0.00% | 0.00% | 100.00% | 80.58% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 78.16% |
| Consumer Cyclical | 0.00% | 0.00% | 89.95% | 81.07% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 77.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GSZCX % Rank | |
|---|---|---|---|---|
| US | 0.56% | -6.18% | 99.68% | 43.84% |
| Non US | 0.00% | -0.30% | 17.73% | 98.44% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GSZCX % Rank | |
|---|---|---|---|---|
| Securitized | 48.07% | 0.00% | 99.65% | 17.07% |
| Corporate | 12.97% | 0.00% | 96.66% | 77.78% |
| Government | 11.56% | 0.00% | 99.43% | 48.15% |
| Derivative | 0.69% | -75.22% | 147.15% | 13.77% |
| Municipal | 0.61% | 0.00% | 54.26% | 19.16% |
| Cash & Equivalents | 0.00% | 0.00% | 94.89% | 99.84% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GSZCX % Rank | |
|---|---|---|---|---|
| US | 119.08% | 0.00% | 199.60% | 6.40% |
| Non US | 0.93% | 0.00% | 74.14% | 58.81% |
GSZCX - Expenses
Operational Fees
| GSZCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.90% | 0.03% | 34.13% | 20.68% |
| Management Fee | 0.60% | 0.00% | 2.29% | 55.11% |
| 12b-1 Fee | 0.75% | 0.00% | 1.00% | 77.10% |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| GSZCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 1.50% | 100.00% |
Trading Fees
| GSZCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| GSZCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 416.00% | 0.00% | 632.00% | 98.49% |
GSZCX - Distributions
Dividend Yield Analysis
| GSZCX | Category Low | Category High | GSZCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.41% | 0.00% | 23.30% | 85.78% |
Dividend Distribution Analysis
| GSZCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| GSZCX | Category Low | Category High | GSZCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.18% | -1.55% | 11.51% | 98.10% |
Capital Gain Distribution Analysis
| GSZCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 27, 2024 | $0.035 | OrdinaryDividend |
| Oct 30, 2024 | $0.034 | OrdinaryDividend |
| Sep 27, 2024 | $0.034 | OrdinaryDividend |
| Aug 29, 2024 | $0.041 | OrdinaryDividend |
| Jul 30, 2024 | $0.033 | OrdinaryDividend |
| Apr 29, 2024 | $0.026 | OrdinaryDividend |
| Mar 27, 2024 | $0.030 | OrdinaryDividend |
| Feb 28, 2024 | $0.029 | OrdinaryDividend |
| Jan 30, 2024 | $0.031 | OrdinaryDividend |
| Dec 22, 2023 | $0.017 | OrdinaryDividend |
| Nov 29, 2023 | $0.028 | OrdinaryDividend |
| Oct 30, 2023 | $0.024 | OrdinaryDividend |
| Sep 28, 2023 | $0.019 | OrdinaryDividend |
| Aug 30, 2023 | $0.024 | OrdinaryDividend |
| Jul 28, 2023 | $0.017 | OrdinaryDividend |
| Jun 29, 2023 | $0.027 | OrdinaryDividend |
| May 30, 2023 | $0.025 | OrdinaryDividend |
| Apr 27, 2023 | $0.021 | OrdinaryDividend |
| Mar 30, 2023 | $0.023 | OrdinaryDividend |
| Feb 27, 2023 | $0.025 | OrdinaryDividend |
| Jan 30, 2023 | $0.034 | OrdinaryDividend |
| Dec 29, 2022 | $0.023 | OrdinaryDividend |
| Nov 29, 2022 | $0.025 | OrdinaryDividend |
| Oct 28, 2022 | $0.016 | OrdinaryDividend |
| Sep 29, 2022 | $0.004 | OrdinaryDividend |
| Aug 30, 2022 | $0.023 | OrdinaryDividend |
| Jul 28, 2022 | $0.021 | OrdinaryDividend |
| Jun 29, 2022 | $0.002 | OrdinaryDividend |
| May 27, 2022 | $0.019 | OrdinaryDividend |
| Apr 28, 2022 | $0.005 | OrdinaryDividend |
| Mar 30, 2022 | $0.005 | ReturnOfCapital |
| Feb 25, 2022 | $0.007 | ReturnOfCapital |
| Jan 28, 2022 | $0.004 | ReturnOfCapital |
| Dec 30, 2021 | $0.010 | OrdinaryDividend |
| Nov 29, 2021 | $0.006 | OrdinaryDividend |
| Oct 28, 2021 | $0.012 | OrdinaryDividend |
| Sep 29, 2021 | $0.019 | OrdinaryDividend |
| Aug 30, 2021 | $0.006 | OrdinaryDividend |
| Jul 29, 2021 | $0.005 | OrdinaryDividend |
| Apr 29, 2021 | $0.018 | OrdinaryDividend |
| Mar 30, 2021 | $0.009 | ReturnOfCapital |
| Mar 30, 2021 | $0.025 | OrdinaryDividend |
| Feb 25, 2021 | $0.006 | ReturnOfCapital |
| Feb 25, 2021 | $0.016 | OrdinaryDividend |
| Jan 28, 2021 | $0.005 | ReturnOfCapital |
| Jan 28, 2021 | $0.014 | OrdinaryDividend |
| Dec 30, 2020 | $0.032 | OrdinaryDividend |
| Nov 27, 2020 | $0.023 | OrdinaryDividend |
| Oct 29, 2020 | $0.022 | OrdinaryDividend |
| Sep 29, 2020 | $0.028 | OrdinaryDividend |
| Aug 28, 2020 | $0.021 | OrdinaryDividend |
| Jul 30, 2020 | $0.014 | OrdinaryDividend |
| Jun 29, 2020 | $0.027 | OrdinaryDividend |
| May 28, 2020 | $0.028 | OrdinaryDividend |
| Apr 29, 2020 | $0.023 | OrdinaryDividend |
| Mar 30, 2020 | $0.011 | ReturnOfCapital |
| Feb 27, 2020 | $0.022 | ReturnOfCapital |
| Jan 30, 2020 | $0.020 | ReturnOfCapital |
| Dec 30, 2019 | $0.018 | OrdinaryDividend |
| Nov 27, 2019 | $0.019 | OrdinaryDividend |
| Oct 30, 2019 | $0.023 | OrdinaryDividend |
| Sep 27, 2019 | $0.016 | OrdinaryDividend |
| Aug 29, 2019 | $0.014 | OrdinaryDividend |
| Jul 30, 2019 | $0.020 | OrdinaryDividend |
| May 30, 2019 | $0.020 | OrdinaryDividend |
| Apr 29, 2019 | $0.016 | OrdinaryDividend |
| Mar 28, 2019 | $0.018 | OrdinaryDividend |
| Feb 28, 2019 | $0.018 | OrdinaryDividend |
| Jan 30, 2019 | $0.023 | OrdinaryDividend |
| Dec 28, 2018 | $0.024 | OrdinaryDividend |
| Nov 29, 2018 | $0.029 | OrdinaryDividend |
| Oct 30, 2018 | $0.015 | OrdinaryDividend |
| Aug 30, 2018 | $0.019 | OrdinaryDividend |
| Jul 30, 2018 | $0.019 | OrdinaryDividend |
| Jun 28, 2018 | $0.023 | OrdinaryDividend |
| Apr 27, 2018 | $0.015 | OrdinaryDividend |
| Aug 30, 2017 | $0.008 | OrdinaryDividend |
| Jul 28, 2017 | $0.006 | OrdinaryDividend |
| Jun 29, 2017 | $0.007 | OrdinaryDividend |
| May 30, 2017 | $0.006 | OrdinaryDividend |
| Dec 28, 2015 | $0.138 | ExtraDividend |
| Dec 26, 2014 | $0.060 | ExtraDividend |
| Dec 15, 2010 | $0.011 | CapitalGainShortTerm |
| Dec 15, 2010 | $0.008 | CapitalGainLongTerm |
GSZCX - Fund Manager Analysis
Managers
Ashish Shah
Start Date
Tenure
Tenure Rank
Jan 01, 2019
3.41
3.4%
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 |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
