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Trending ETFs

Name

As of 03/26/2024

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

$8.00

$547 M

7.75%

$0.62

1.31%

Vitals

YTD Return

1.9%

1 yr return

-0.3%

3 Yr Avg Return

8.1%

5 Yr Avg Return

1.6%

Net Assets

$547 M

Holdings in Top 10

97.8%

52 WEEK LOW AND HIGH

$8.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 83.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$8.00

$547 M

7.75%

$0.62

1.31%

GCCRX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 8.1%
  • 5 Yr Annualized Total Return 1.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.15%
DIVIDENDS
  • Dividend Yield 7.8%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    Goldman Sachs Commodity Strategy Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Nov 30, 2007
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Hyman

Fund Description

The Fund seeks to maintain substantial economic exposure to the performance of the commodities markets. The Fund primarily gains exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands, Cayman Commodity – CSF, Ltd. (the “CSF Subsidiary”). The CSF Subsidiary is advised by the Investment Adviser, and has the same investment objective as the Fund. CoreCommodity Management, LLC (the “Sub-Adviser” or “CoreCommodity”) serves as sub-adviser to both the Fund and the CSF Subsidiary.The Fund seeks to provide exposure to the commodities markets by investing, through the CSF Subsidiary, in commodity-linked investments including, without limitation, commodity swaps, commodity futures contracts, exchange-listed commodity forward contracts, options on commodity futures, and commodity-linked notes. In pursuing its objective, the Fund attempts to provide long and/or short exposure to the returns of real assets that trade in the commodity markets without direct investment in physical commodities. The Fund uses the Bloomberg Commodity Index Total Return (“BCOM”) as its performance benchmark, but the Fund is actively managed and will not attempt to replicate the index.Investment in the Subsidiary. The Fund may invest up to 25% of its total assets in the CSF Subsidiary. The CSF Subsidiary primarily obtains its commodity exposure by investing in commodity-linked derivative instruments (which typically includes total return swaps). Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index (or a component of the underlying commodity index) over the life of the swap. The value of the swap will rise and fall in response to changes in the underlying commodity or commodity index (or component of the underlying commodity index). Commodity-linked swaps expose the CSF Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instrument. Neither the Fund nor the CSF Subsidiary invests directly in physical commodities. The CSF Subsidiary will also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions.The Sub-Adviser will take various factors into account when seeking commodity market exposure, such as, without limitation, the results of proprietary models developed by the Sub-Adviser, relative price differentials for various commodity futures for current delivery as compared to those for future delivery, and market conditions. Among other strategies, the Fund employs commodity roll-timing strategies. “Rolling” futures exposure is the process by which the holder of a particular futures contract or other instrument providing futures exposure (e.g. swaps) will sell such contract or instrument on or before the expiration date and simultaneously purchase a new contract or instrument with identical terms except for a later expiration date. This process allows a holder of the instrument to extend its current position through the original instrument’s expiration without delivering the underlying asset. The Fund’s rolling may differ from that of the BCOM to the extent necessary to enable the Fund to seek excess returns over the BCOM. The Fund’s “roll-timing” strategies may include, for example, rolling the Fund’s commodity exposure earlier or later versus the BCOM, or holding and rolling positions with longer or different expiration dates than the BCOM. The Fund also may underweight or overweight various commodities as compared to the BCOM, and may utilize commodities that are not components of the BCOM.Fixed Income Investments. As a result of the Fund’s use of derivatives, the Fund may hold as collateral significant amounts of U.S. Treasury or short-term investments, including money market funds. In managing the collateral portion of the Fund’s investment strategy, the Sub-Adviser generally seeks capital preservation. The average duration will vary. The Sub-Adviser uses derivatives, including futures and swaps, to manage the duration of the Fund’s investment portfolio.Other. The Fund may also invest in forwards, futures, and swaps, which are used for both hedging and non-hedging purposes. The Fund may invest up to 35% of its net assets in foreign securities.The Fund’s benchmark index is the BCOM.
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GCCRX - Performance

Return Ranking - Trailing

Period GCCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -29.2% 18.2% 55.97%
1 Yr -0.3% -47.5% 27.2% 67.91%
3 Yr 8.1%* -28.6% 298.0% 50.00%
5 Yr 1.6%* -31.6% 131.3% 91.41%
10 Yr -5.8%* -28.3% 44.8% 95.29%

* Annualized

Return Ranking - Calendar

Period GCCRX Return Category Return Low Category Return High Rank in Category (%)
2023 -13.5% -64.0% 30.1% 90.30%
2022 4.1% -45.7% 2475.6% 30.83%
2021 14.0% -23.3% 106.7% 38.64%
2020 -23.5% -71.9% 295.5% 90.70%
2019 5.2% -31.8% 53.9% 73.44%

Total Return Ranking - Trailing

Period GCCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -29.2% 18.2% 55.97%
1 Yr -0.3% -47.5% 27.2% 67.91%
3 Yr 8.1%* -28.6% 298.0% 50.00%
5 Yr 1.6%* -31.6% 131.3% 91.41%
10 Yr -5.8%* -28.3% 44.8% 95.29%

* Annualized

Total Return Ranking - Calendar

Period GCCRX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.2% -64.0% 41.1% 94.03%
2022 15.1% -15.1% 5648.8% 42.86%
2021 32.7% -23.3% 188.1% 34.85%
2020 -23.4% -67.8% 296.1% 91.47%
2019 15.6% -31.8% 53.9% 28.91%

NAV & Total Return History


GCCRX - Holdings

Concentration Analysis

GCCRX Category Low Category High GCCRX % Rank
Net Assets 547 M 2.34 M 54.2 B 43.98%
Number of Holdings 53 1 926 49.64%
Net Assets in Top 10 572 M 2.66 M 63.2 B 43.80%
Weighting of Top 10 97.78% 23.0% 153.5% 28.79%

Top 10 Holdings

  1. United States Treasury Bill 18.95%
  2. United States Treasury Bill 14.57%
  3. United States Treasury Bill- When Issued 14.34%
  4. United States Treasury Bill 14.03%
  5. United States Treasury Bill - WI Post Auction 11.03%
  6. Goldman Sachs Financial Square Government Fund 10.70%
  7. United States Treasury Bill 4.65%
  8. United States Treasury Bill 3.81%
  9. United States Treasury Bill - WI Post Auction 3.41%
  10. United States Treasury Bill 2.29%

Asset Allocation

Weighting Return Low Return High GCCRX % Rank
Cash
91.06% 0.00% 100.26% 12.59%
Stocks
10.70% 0.00% 62.82% 18.25%
Preferred Stocks
0.00% 0.00% 0.07% 53.33%
Convertible Bonds
0.00% 0.00% 3.89% 64.18%
Bonds
0.00% 0.00% 120.99% 88.32%
Other
-1.76% -47.59% 100.00% 77.04%

Stock Sector Breakdown

Weighting Return Low Return High GCCRX % Rank
Utilities
0.00% 0.00% 27.00% N/A
Technology
0.00% 0.00% 2.77% N/A
Real Estate
0.00% 0.00% 13.82% N/A
Industrials
0.00% 0.00% 23.28% N/A
Healthcare
0.00% 0.00% 1.73% N/A
Financial Services
0.00% 0.00% 13.67% N/A
Energy
0.00% 0.00% 33.64% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 12.04% N/A
Consumer Cyclical
0.00% 0.00% 3.41% N/A
Basic Materials
0.00% 0.00% 47.41% N/A

Stock Geographic Breakdown

Weighting Return Low Return High GCCRX % Rank
US
10.70% 0.00% 62.82% 15.56%
Non US
0.00% 0.00% 30.58% 58.52%

GCCRX - Expenses

Operational Fees

GCCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.31% 0.21% 4.07% 36.11%
Management Fee 0.50% 0.00% 1.75% 28.92%
12b-1 Fee 0.50% 0.00% 1.00% 69.84%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

GCCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

GCCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 83.00% 0.00% 162.00% 80.41%

GCCRX - Distributions

Dividend Yield Analysis

GCCRX Category Low Category High GCCRX % Rank
Dividend Yield 7.75% 0.00% 26.36% 30.72%

Dividend Distribution Analysis

GCCRX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Annually Annually

Net Income Ratio Analysis

GCCRX Category Low Category High GCCRX % Rank
Net Income Ratio -1.15% -55.71% 52.26% 82.09%

Capital Gain Distribution Analysis

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

Distributions History

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GCCRX - Fund Manager Analysis

Managers

Robert Hyman


Start Date

Tenure

Tenure Rank

Jan 27, 2021

1.34

1.3%

Robert B. Hyman is a Senior Vice President for CoreCommodity Management, LLC (“CCM”) and Co-Portfolio Manager and its Cayman Subsidiary. Mr. Hyman re-joined CCM in June 2010. During his 30 plus years successfully trading commodities and commodity related products, Mr. Hyman has held a number of trading and risk control positions, including proprietary trading positions at Lehman Brothers, Amerada Hess Crude & Gas Co., and Drexel Burnham Lambert. Most recently, from April 2007 to Feb 2009, Mr. Hyman was a proprietary trader for First New York Securities, LLC, where he traded commodity futures, time spreads, exchange for physicals, and commodity related equities. From Aug 2009 to May 2010, Mr. Hyman was a proprietary trader at The Gelber Group, focusing on commodity futures, spreads and foreign exchange trading. Mr. Hyman graduated from Dartmouth College in 1978 with a Bachelor of Arts degree in Government. Mr. Hyman has been Portfolio Manager of the CoreCommodity Management CompleteCommodities Strategy Fund and the Cayman Subsidiary since its inception in June 2010 (and Co-Portfolio Manager from May 2012 to July 2015).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 5.76 11.51