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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

$5.56

$1.92 B

5.81%

$0.32

1.11%

Vitals

YTD Return

0.7%

1 yr return

10.7%

3 Yr Avg Return

0.7%

5 Yr Avg Return

2.8%

Net Assets

$1.92 B

Holdings in Top 10

11.5%

52 WEEK LOW AND HIGH

$5.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.11%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 56.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


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

$5.56

$1.92 B

5.81%

$0.32

1.11%

GSHAX - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 2.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.15%
DIVIDENDS
  • Dividend Yield 5.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs High Yield Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Aug 01, 1997
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Magnuson

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 high-yield, fixed income securities that, at the time of purchase, are non-investment grade securities. 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, and are commonly referred to as “junk bonds.” The Fund may invest in all types of fixed income securities, including loan participations.The Fund may invest up to 25% of its total assets in obligations of domestic and foreign issuers which are denominated in currencies other than the U.S. dollar and in securities of issuers located in emerging countries denominated in any currency. However, to the extent that the Investment Adviser has entered into transactions that are intended to hedge the Fund’s position in a non-dollar denominated obligation against currency risk, such obligation will not be counted when calculating compliance with the 25% limitation on obligations in non-U.S. currency.Under normal market conditions, the Fund may invest up to 20% of its Net Assets in investment grade fixed income securities, including securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”).The Fund may invest in derivatives, including (i) credit default swap indices (or CDX) and total return swaps for hedging purposes or to seek to increase total return, and (ii) interest rate futures, forwards and swaps to manage the portfolio’s duration.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”).The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index, plus or minus 2.5 years, depending on the Fund’s risk-adjusted positioning, and over the last five years ended June 30, 2023, the duration of this Index has ranged between 3.1 and 4.5 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 Fund’s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. As part of the Investment Adviser’s fundamental investment process, the Investment Adviser may integrate environmental, social and governance (“ESG”) factors alongside traditional fundamental factors. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate. No one factor or consideration is determinative in the fundamental investment process.The Fund’s benchmark index is the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index.
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GSHAX - Performance

Return Ranking - Trailing

Period GSHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -4.9% 8.2% 78.78%
1 Yr 10.7% -4.3% 26.0% 64.16%
3 Yr 0.7%* -15.6% 20.6% 80.56%
5 Yr 2.8%* -11.2% 37.3% 73.92%
10 Yr 2.9%* -4.7% 19.5% 70.82%

* Annualized

Return Ranking - Calendar

Period GSHAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -4.7% 14.3% 38.35%
2022 -17.2% -33.4% 3.6% 77.43%
2021 -0.9% -8.4% 14.9% 80.10%
2020 -0.3% -13.9% 302.7% 53.78%
2019 8.9% -4.4% 13.3% 28.10%

Total Return Ranking - Trailing

Period GSHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -4.9% 8.2% 78.78%
1 Yr 10.7% -4.3% 26.0% 64.16%
3 Yr 0.7%* -15.6% 20.6% 80.56%
5 Yr 2.8%* -11.2% 37.3% 73.92%
10 Yr 2.9%* -4.7% 19.5% 70.82%

* Annualized

Total Return Ranking - Calendar

Period GSHAX Return Category Return Low Category Return High Rank in Category (%)
2023 12.7% -4.7% 18.7% 36.18%
2022 -12.3% -33.4% 47.8% 82.13%
2021 4.1% -8.4% 24.8% 71.29%
2020 5.8% -9.6% 325.6% 43.03%
2019 15.1% -3.8% 21.5% 20.69%

NAV & Total Return History


GSHAX - Holdings

Concentration Analysis

GSHAX Category Low Category High GSHAX % Rank
Net Assets 1.92 B 1.85 M 22.6 B 25.35%
Number of Holdings 613 2 2736 22.99%
Net Assets in Top 10 215 M -492 M 4.45 B 26.54%
Weighting of Top 10 11.53% 4.2% 149.6% 65.28%

Top 10 Holdings

  1. Goldman Sachs Financial Square Government Fund 4.01%
  2. Goldman Sachs Financial Square Government Fund 2.91%
  3. iShares Broad USD High Yield Corporate Bond ETF 0.80%
  4. CCO Holdings LLC / CCO Holdings Capital Corp 0.72%
  5. Urban One Inc 0.59%
  6. Arko Corp 0.57%
  7. APX Group Inc 0.51%
  8. American Builders Contractors Supply Co Inc 0.50%
  9. USA Compression Partners LP / USA Compression Finance Corp 0.47%
  10. RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc 0.46%

Asset Allocation

Weighting Return Low Return High GSHAX % Rank
Bonds
91.80% -3.13% 154.38% 74.04%
Stocks
5.58% 0.00% 99.61% 7.83%
Cash
2.98% -52.00% 49.49% 62.81%
Convertible Bonds
2.14% 0.00% 17.89% 20.52%
Other
0.12% -63.70% 102.57% 33.02%
Preferred Stocks
0.00% 0.00% 8.06% 74.07%

Stock Sector Breakdown

Weighting Return Low Return High GSHAX % Rank
Energy
97.45% 0.00% 100.00% 13.97%
Consumer Cyclical
2.06% 0.00% 100.00% 32.12%
Basic Materials
0.50% 0.00% 100.00% 26.82%
Utilities
0.00% 0.00% 100.00% 67.60%
Technology
0.00% 0.00% 33.17% 69.27%
Real Estate
0.00% 0.00% 86.71% 65.08%
Industrials
0.00% 0.00% 93.12% 69.27%
Healthcare
0.00% 0.00% 22.17% 63.41%
Financial Services
0.00% 0.00% 100.00% 68.72%
Communication Services
0.00% 0.00% 99.99% 80.17%
Consumer Defense
0.00% 0.00% 100.00% 65.36%

Stock Geographic Breakdown

Weighting Return Low Return High GSHAX % Rank
US
5.58% 0.00% 99.61% 7.87%
Non US
0.00% -0.01% 0.83% 14.81%

Bond Sector Breakdown

Weighting Return Low Return High GSHAX % Rank
Corporate
97.48% 0.00% 129.69% 22.41%
Cash & Equivalents
2.98% 0.00% 49.49% 47.38%
Derivative
0.12% -15.04% 42.26% 14.04%
Securitized
0.00% 0.00% 97.24% 77.74%
Municipal
0.00% 0.00% 4.66% 59.04%
Government
0.00% 0.00% 99.07% 70.63%

Bond Geographic Breakdown

Weighting Return Low Return High GSHAX % Rank
US
88.38% -3.13% 129.21% 73.30%
Non US
3.42% 0.00% 97.33% 22.38%

GSHAX - Expenses

Operational Fees

GSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.11% 0.04% 31.61% 41.51%
Management Fee 0.70% 0.00% 1.84% 84.62%
12b-1 Fee 0.25% 0.00% 1.00% 39.69%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

GSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 2.25% 5.75% 26.00%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 32.61%

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.

GSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 56.00% 1.00% 255.00% 36.50%

GSHAX - Distributions

Dividend Yield Analysis

GSHAX Category Low Category High GSHAX % Rank
Dividend Yield 5.81% 0.00% 35.52% 56.90%

Dividend Distribution Analysis

GSHAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

GSHAX Category Low Category High GSHAX % Rank
Net Income Ratio 4.15% -2.39% 14.30% 63.42%

Capital Gain Distribution Analysis

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

Distributions History

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GSHAX - Fund Manager Analysis

Managers

Robert Magnuson


Start Date

Tenure

Tenure Rank

Jul 29, 2014

7.84

7.8%

Mr. Magnuson is a member of the High Yield portfolio management team specializing in credit research. Prior to joining the Goldman Sachs Asset Management, L.P. in 2006, he spent three and a half years as a sell-side high yield analyst at Merrill Lynch and two and a half years in the commercial lending group at Wells Fargo.

Ashish Shah


Start Date

Tenure

Tenure Rank

Jan 29, 2021

1.33

1.3%

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.

Lori Pomerantz


Start Date

Tenure

Tenure Rank

Jan 29, 2021

1.33

1.3%

Mrs. Pomerantz is a Portfolio Manager on Goldman Sachs Asset Management, L.P. She joined the Goldman Sachs, initially in the Alternative Investments and Manager Selection (AIMS) business, where she spearheaded long only fixed income manager selection.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17