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Trending ETFs

Name

As of 12/20/2022

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

$9.76

$11.6 M

1.59%

$0.16

0.66%

Vitals

YTD Return

-21.6%

1 yr return

-22.4%

3 Yr Avg Return

-3.3%

5 Yr Avg Return

-2.4%

Net Assets

$11.6 M

Holdings in Top 10

84.8%

52 WEEK LOW AND HIGH

$9.8
$9.53
$12.57

Expenses

OPERATING FEES

Expense Ratio 0.66%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 35.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/20/2022

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

$9.76

$11.6 M

1.59%

$0.16

0.66%

GTALX - Profile

Distributions

  • YTD Total Return -21.6%
  • 3 Yr Annualized Total Return -3.3%
  • 5 Yr Annualized Total Return -0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.20%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Target Date 2035 Portfolio
  • Fund Family Name
    Goldman Sachs
  • Inception Date
    Aug 22, 2016
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Neill Nuttall

Fund Description

The Fund employs an asset allocation strategy designed for investors who plan to retire and withdraw their investment from the Fund beginning in approximately 2035 (the “Target Date”). The Fund is managed for an investor planning to retire at the age of 65 on or around the Target Date.The Fund generally seeks to achieve its investment objective by investing in shares of exchange-traded funds (“ETFs”) for which Goldman Sachs Asset Management, L.P. (“GSAM” or the “Investment Adviser”) or an affiliate now or in the future acts as investment adviser or principal underwriter, and may also invest in mutual funds for which GSAM or an affiliate now or in the future acts as investment adviser or principal underwriter as well as unaffiliated ETFs and mutual funds (collectively, the “Underlying Funds”), without considering or canvassing the universe of unaffiliated funds available. Under normal conditions, the Fund will invest in Underlying Funds according to the Investment Adviser’s asset allocation strategy such that over time the asset allocation will generally become more conservative through the reduction of allocation to equity funds and increased allocation to fixed income funds in accordance with the glide path’s strategic allocation, as illustrated in the graph below.The Investment Adviser evaluates and develops global macro investment views across a broad range of asset classes, regions and sectors to establish the strategic asset allocation. The Investment Adviser will seek to incorporate macroeconomic data and valuation analysis to assess market dislocations that may produce alpha opportunities or manage risk. In order to adapt to changing market conditions, the Investment Adviser has established a dynamic asset allocation process that allows the flexibility to increase or decrease asset class exposures relative to the glide path based on macro and market views and managed within a set tactical allocation range.Although the actual allocations may vary, the chart below illustrates the expected strategic asset allocation of the glide path and the tactical allocation ranges of the asset classes.YEARS TO/(AFTER) TARGET DATE151050(5)(10)EXPECTED STRATEGIC ASSET ALLOCATION DURING CALENDAR YEAR202020252030203520402045+U.S. Equity46.5%35.6%30.6%26.2%26.2%26.2%Non-U.S. Developed Equity22.7%17.2%14.7%12.5%12.5%12.5%Emerging Markets Equity5.8%4.2%3.7%3.3%3.3%3.3%Total Strategic Equity Allocation75.0%57.0%49.0%42.0%42.0%42.0%Investment Grade Fixed Income20.3%37.7%45.1%51.5%51.5%51.5%Non-Investment Grade Fixed Income4.2%4.3%4.7%5.0%5.0%5.0%Emerging Markets Debt (Local)0.5%1.0%1.3%1.5%1.5%1.5%Total Strategic Fixed Income Allocation25.0%43.0%51.0%58.0%58.0%58.0%EQUITY TACTICAL ALLOCATION RANGES60%-90%45%-75%35%-65%30%-60%25%-55%25%-55%US Equity30%-60%20%-50%15%-45%10%-40%10%-40%10%-40%Non-US Developed Equity10%-40%5%-35%5%-30%5%-30%5%-30%5%-30%Emerging Markets Equity0%-20%0%-20%0%-15%0%-15%0%-15%0%-15%US REITs0%-15%0%-15%0%-15%0%-15%0%-15%0%-15%Commodities0%-10%0%-10%0%-10%0%-10%0%-10%0%-10%Other Alternatives0%-10%0%-10%0%-10%0%-10%0%-10%0%-10%FIXED INCOME TACTICAL ALLOCATION RANGES10%-40%25%-55%35%-65%40%-70%45%-75%45%-75%Investment Grade Fixed Income10%-40%25%-55%35%-65%40%-70%45%-75%45%-75%Non-Investment Grade Fixed Income0%-15%0%-15%0%-15%0%-15%0%-15%0%-15%Emerging Markets Debt (Local)0%-10%0%-10%0%-10%0%-10%0%-10%0%-10%Note: Above allocations may not sum to total due to rounding.The percentage of the Fund exposed to any asset class or geographic region will vary from time to time based on the Investment Adviser’s macro and market views. At times, the Fund may be heavily invested in certain asset classes or geographic regions, depending on the asset allocation strategy. Unless otherwise stated herein, the Fund’s investment in any of the Underlying Funds may exceed 25% of its assets. The Fund may also invest in derivatives (including (i) futures contracts, including futures based on equity or fixed income indices and interest rate futures; (ii) options, including long and short positions in call options and put options on indices, individual securities or currencies and options on futures contracts; and (iii) currency forwards and non-deliverable forwards) to gain exposure to securities in which the Underlying Funds invest. The Fund may invest in derivatives for both hedging and non-hedging purposes. The particular Underlying Funds in which the Fund may invest and the Fund’s targets and ranges will change from time to time without shareholder approval or notice.Management ProcessThe Investment Adviser and the Fund have received an exemptive order from the Securities and Exchange Commission (“SEC”). Under the exemptive order, the Investment Adviser has the ultimate responsibility, subject to oversight by the Fund’s Board of Trustees, to oversee any sub-adviser and recommend its hiring, termination and replacement, although the Investment Adviser does not presently intend to hire a sub-adviser. The initial shareholder of the Fund approved the Fund’s operation in this manner and reliance by the Fund on this exemptive order.Additional InformationThe Fund’s benchmark index is the S&P Target Date To 2035 Index (the “Index”).The Fund is a “To” target date fund. This means that the Fund intends to reach its most conservative strategic asset allocations by the end of the year of the target retirement date. When the strategic asset allocations of the Fund are substantially the same as those of the Goldman Sachs Target Date Retirement Portfolio, the Fund’s Board of Trustees may approve the merger of the Fund into the Goldman Sachs Target Date Retirement Portfolio.
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GTALX - Performance

Return Ranking - Trailing

Period GTALX Return Category Return Low Category Return High Rank in Category (%)
YTD -21.6% -35.4% -9.6% 75.65%
1 Yr -22.4% -35.5% 2.3% 53.48%
3 Yr -3.3%* -11.3% 9.9% 56.52%
5 Yr -2.4%* -11.1% 8.7% 52.73%
10 Yr N/A* -3.4% 8.8% N/A

* Annualized

Return Ranking - Calendar

Period GTALX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -5.5% 16.8% 45.66%
2022 5.0% 1.0% 6.9% 51.21%
2021 3.6% 1.6% 6.7% 73.54%
2020 -3.7% -21.1% 0.0% 60.61%
2019 2.1% 0.0% 4.4% 83.12%

Total Return Ranking - Trailing

Period GTALX Return Category Return Low Category Return High Rank in Category (%)
YTD -21.6% -35.4% -9.6% 75.65%
1 Yr -22.4% -35.5% 2.3% 54.35%
3 Yr -3.3%* -11.3% 9.9% 56.52%
5 Yr -0.6%* -10.0% 8.7% 50.30%
10 Yr N/A* -1.7% 8.8% N/A

* Annualized

Total Return Ranking - Calendar

Period GTALX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -5.5% 16.8% 45.66%
2022 5.0% 1.0% 6.9% 51.21%
2021 3.6% 1.6% 6.7% 73.54%
2020 -1.4% -16.5% 0.0% 6.06%
2019 2.6% 0.0% 4.5% 90.26%

NAV & Total Return History


GTALX - Holdings

Concentration Analysis

GTALX Category Low Category High GTALX % Rank
Net Assets 11.6 M 1.42 M 79.7 B 97.42%
Number of Holdings 23 2 563 56.65%
Net Assets in Top 10 10.4 M 818 K 78.7 B 94.85%
Weighting of Top 10 84.80% 39.9% 100.0% 45.85%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High GTALX % Rank
Stocks
69.28% 0.00% 85.16% 64.81%
Bonds
24.17% 3.48% 61.62% 50.21%
Cash
6.14% -8.83% 37.73% 15.45%
Convertible Bonds
0.40% 0.00% 1.96% 35.19%
Other
0.02% -0.81% 15.54% 86.70%
Preferred Stocks
0.00% 0.00% 0.64% 90.99%

Stock Sector Breakdown

Weighting Return Low Return High GTALX % Rank
Technology
19.54% 13.82% 23.99% 38.10%
Financial Services
13.62% 12.97% 18.89% 81.82%
Healthcare
11.89% 10.82% 14.66% 76.62%
Industrials
11.42% 8.97% 12.33% 26.84%
Consumer Cyclical
10.70% 8.03% 13.37% 70.13%
Communication Services
7.60% 5.69% 10.14% 30.30%
Consumer Defense
7.28% 4.76% 11.08% 23.38%
Energy
6.31% 2.39% 6.52% 3.46%
Utilities
4.51% 1.89% 8.17% 2.60%
Basic Materials
4.20% 3.15% 6.92% 77.06%
Real Estate
2.94% 1.86% 10.12% 83.12%

Stock Geographic Breakdown

Weighting Return Low Return High GTALX % Rank
US
42.31% 0.00% 64.01% 70.82%
Non US
26.97% 0.00% 38.44% 31.76%

Bond Sector Breakdown

Weighting Return Low Return High GTALX % Rank
Government
38.25% 11.31% 77.80% 57.94%
Corporate
31.93% 0.51% 52.90% 18.03%
Cash & Equivalents
20.34% 2.48% 79.37% 38.63%
Securitized
9.47% 0.00% 38.76% 89.27%
Derivative
0.00% 0.00% 19.58% 90.13%
Municipal
0.00% 0.00% 19.66% 98.28%

Bond Geographic Breakdown

Weighting Return Low Return High GTALX % Rank
US
19.55% 3.26% 43.44% 59.23%
Non US
4.62% 0.10% 21.02% 24.03%

GTALX - Expenses

Operational Fees

GTALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.66% 0.06% 1.82% 43.10%
Management Fee 0.25% 0.00% 0.84% 67.59%
12b-1 Fee 0.25% 0.00% 1.00% 56.64%
Administrative Fee N/A 0.01% 0.29% N/A

Sales Fees

GTALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 3.50% 5.75% 69.57%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

GTALX 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.

GTALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 1.00% 106.00% 75.35%

GTALX - Distributions

Dividend Yield Analysis

GTALX Category Low Category High GTALX % Rank
Dividend Yield 1.59% 0.00% 3.56% 21.89%

Dividend Distribution Analysis

GTALX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Semi-Annually Annually

Net Income Ratio Analysis

GTALX Category Low Category High GTALX % Rank
Net Income Ratio 1.20% -0.09% 4.36% 60.56%

Capital Gain Distribution Analysis

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

Distributions History

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GTALX - Fund Manager Analysis

Managers

Neill Nuttall


Start Date

Tenure

Tenure Rank

May 31, 2019

3.0

3.0%

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.

Siwen Wu


Start Date

Tenure

Tenure Rank

May 24, 2021

1.02

1.0%

Mr. Wu is a Vice President focusing on multi-asset funds and institutional portfolios within the Global Portfolio Solutions (GPS) Group in GSAM. Prior to joining GPS in 2014, Mr. Wu spent two years in the Market Risk Management Group at Goldman Sachs where he worked on risk analysis and capital efficiency projects for the Securities Division businesses.

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
0.08 17.59 5.58 2.41