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Trending ETFs

Goldman Sachs Dynamic Bond Fund

mutual fund
GSZUX
Payout Change
Pending
Price as of:
$9.42 -0.02 -0.21%
primary theme
Bond Sector Diversified
share class
Investor (GZIRX) Instl (GSZIX) A (GSZAX) R6 (GSZUX) P (GSOPX) C (GSZCX) R (GSZRX)
GSZUX (Mutual Fund)

Goldman Sachs Dynamic Bond Fund

Payout Change
Pending
Price as of:
$9.42 -0.02 -0.21%
primary theme
Bond Sector Diversified
share class
Investor (GZIRX) Instl (GSZIX) A (GSZAX) R6 (GSZUX) P (GSOPX) C (GSZCX) R (GSZRX)
GSZUX (Mutual Fund)

Goldman Sachs Dynamic Bond Fund

Payout Change
Pending
Price as of:
$9.42 -0.02 -0.21%
primary theme
Bond Sector Diversified
share class
Investor (GZIRX) Instl (GSZIX) A (GSZAX) R6 (GSZUX) P (GSOPX) C (GSZCX) R (GSZRX)

Name

As of 12/13/2024

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 Dynamic Bond Fund

GSZUX | Fund

$9.42

$667 M

5.35%

$0.50

0.81%

Vitals

YTD Return

6.7%

1 yr return

7.4%

3 Yr Avg Return

4.9%

5 Yr Avg Return

4.5%

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 0.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 416.00%

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 12/13/2024

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 Dynamic Bond Fund

GSZUX | Fund

$9.42

$667 M

5.35%

$0.50

0.81%

GSZUX - Profile

Distributions

  • YTD Total Return 6.7%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 4.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.47%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Dynamic Bond 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
    Ashish 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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GSZUX - Performance

Return Ranking - Trailing

Period GSZUX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -11.1% 18.9% 49.85%
1 Yr 7.4% -9.2% 20.8% 48.14%
3 Yr 4.9%* -16.9% 16.8% 7.78%
5 Yr 4.5%* -14.7% 13.4% 10.00%
10 Yr N/A* -7.0% 7.1% 74.18%

* Annualized

Return Ranking - Calendar

Period GSZUX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -12.0% 8.9% 2.63%
2022 -6.0% -31.8% 18.4% 12.04%
2021 -3.8% -16.2% 25.7% 86.07%
2020 5.3% -31.1% 18.7% 14.80%
2019 2.4% -6.1% 15.3% 76.69%

Total Return Ranking - Trailing

Period GSZUX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -11.1% 18.9% 49.85%
1 Yr 7.4% -9.2% 20.8% 48.14%
3 Yr 4.9%* -16.9% 16.8% 7.78%
5 Yr 4.5%* -14.7% 13.4% 10.00%
10 Yr N/A* -7.0% 7.1% 71.98%

* Annualized

Total Return Ranking - Calendar

Period GSZUX Return Category Return Low Category Return High Rank in Category (%)
2023 11.1% -6.9% 22.2% 11.28%
2022 -3.2% -31.8% 21.1% 17.75%
2021 -1.3% -13.5% 49.9% 88.69%
2020 9.6% -28.6% 24.1% 8.56%
2019 5.8% -4.8% 19.1% 78.23%

NAV & Total Return History

GSZUX - Holdings

Concentration Analysis

GSZUX Category Low Category High GSZUX % Rank
Net Assets 667 M 2.63 M 143 B 52.07%
Number of Holdings 1396 4 9638 16.22%
Net Assets in Top 10 472 M -204 M 89.4 B 34.63%
Weighting of Top 10 62.69% 5.8% 265.8% 19.03%

Top 10 Holdings

  1. Uniform Mortgage-Backed Security, TBA 12.76%
  2. Ginnie Mae 8.78%
  3. Ginnie Mae 6.52%
  4. Ginnie Mae 6.17%
  5. Ginnie Mae 6.08%
  6. Ginnie Mae 5.90%
  7. U.S. Treasury Notes 4.74%
  8. Uniform Mortgage-Backed Security, TBA 4.70%
  9. Uniform Mortgage-Backed Security, TBA 3.96%
  10. U.S. Treasury Inflation-Indexed Bonds 3.07%

Asset Allocation

Weighting Return Low Return High GSZUX % Rank
Bonds 		120.00% 0.00% 199.60% 7.80%
Other 		4.48% -75.22% 147.15% 43.99%
Stocks 		0.56% -6.18% 99.68% 45.71%
Convertible Bonds 		0.35% 0.00% 33.50% 70.67%
Preferred Stocks 		0.00% 0.00% 21.58% 99.53%
Cash 		0.00% -94.66% 99.97% 97.82%

Stock Sector Breakdown

Weighting Return Low Return High GSZUX % Rank
Utilities 		0.00% 0.00% 100.00% 78.64%
Technology 		0.00% 0.00% 28.30% 78.16%
Real Estate 		0.00% 0.00% 100.00% 80.10%
Industrials 		0.00% 0.00% 100.00% 80.58%
Healthcare 		0.00% 0.00% 18.60% 77.18%
Financial Services 		0.00% 0.00% 100.00% 81.55%
Energy 		0.00% 0.00% 100.00% 6.80%
Communication Services 		0.00% 0.00% 100.00% 81.55%
Consumer Defense 		0.00% 0.00% 99.97% 79.13%
Consumer Cyclical 		0.00% 0.00% 89.95% 82.04%
Basic Materials 		0.00% 0.00% 100.00% 78.64%

Stock Geographic Breakdown

Weighting Return Low Return High GSZUX % Rank
US 		0.56% -6.18% 99.68% 43.68%
Non US 		0.00% -0.30% 17.73% 98.28%

Bond Sector Breakdown

Weighting Return Low Return High GSZUX % Rank
Securitized 		48.07% 0.00% 99.65% 16.91%
Corporate 		12.97% 0.00% 96.66% 77.62%
Government 		11.56% 0.00% 99.43% 47.99%
Derivative 		0.69% -75.22% 147.15% 13.62%
Municipal 		0.61% 0.00% 54.26% 19.00%
Cash & Equivalents 		0.00% 0.00% 94.89% 99.69%

Bond Geographic Breakdown

Weighting Return Low Return High GSZUX % Rank
US 		119.08% 0.00% 199.60% 6.24%
Non US 		0.93% 0.00% 74.14% 58.66%

GSZUX - Expenses

Operational Fees

GSZUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.03% 34.13% 74.34%
Management Fee 0.60% 0.00% 2.29% 54.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

GSZUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 1.50% N/A

Trading Fees

GSZUX 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.

GSZUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 416.00% 0.00% 632.00% 98.30%

GSZUX - Distributions

Dividend Yield Analysis

GSZUX Category Low Category High GSZUX % Rank
Dividend Yield 5.35% 0.00% 23.30% 69.09%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GSZUX Category Low Category High GSZUX % Rank
Net Income Ratio 1.47% -1.55% 11.51% 86.37%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GSZUX - 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

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