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Name

As of 11/21/2024

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 High Yield Municipal Fund

GHYIX | Fund

$9.36

$10.5 B

4.51%

$0.42

0.56%

Vitals

YTD Return

6.3%

1 yr return

11.9%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

1.9%

Net Assets

$10.5 B

Holdings in Top 10

9.1%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

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 High Yield Municipal Fund

GHYIX | Fund

$9.36

$10.5 B

4.51%

$0.42

0.56%

GHYIX - Profile

Distributions

  • YTD Total Return 6.3%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 1.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.21%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Goldman Sachs High Yield Municipal Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Apr 03, 2000
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Diamond

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 fixed income securities issued by or on behalf of states, territories and possessions of the United States (including the District of Columbia) and the political subdivisions, agencies and instrumentalities thereof (“Municipal Securities”), the interest on which is exempt from regular federal income tax (i.e., excluded from gross income for federal income tax purposes). The Fund invests, under normal circumstances, a majority of its total assets measured at the time of purchase (“Total Assets”) in high-yield Municipal Securities. High-yield securities are securities that, at the time of purchase, are medium quality or non-investment grade. Medium quality securities are rated BBB or Baa by a nationally recognized statistical rating organization (“NRSRO”), and non-investment grade securities are securities rated BB+, Ba1 or below by an NRSRO. Non-investment grade securities are commonly known as “junk bonds.” The Fund may also invest in unrated securities determined by the Investment Adviser to be of comparable credit quality. The Fund may purchase the securities of issuers that are in default.Under normal circumstances, the Fund may also invest the remainder of its Total Assets in higher grade fixed income securities. In pursuing its principal investment strategy, the Investment Adviser will assess the relative value in the Municipal Securities market from both a credit and yield curve perspective. 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. In addition, individual securities will be considered for purchase or sale based on credit profile, risk, structure, pricing, and portfolio impact, as well as duration management, restructuring, opportunistic trading and tax loss harvesting. No one factor or consideration is determinative in the fundamental investment process. Tax-exempt securities offering the high current income sought by the Fund may be predominantly in the lower rating categories of NRSROs (BB+/Ba1 or lower).The Fund may focus its investments in issuers within the same state or economic sector.The Fund may invest up to 100% of its Net Assets in private activity bonds, the interest on which (including the Fund’s distributions of such interest) may be a preference item for purposes of the federal alternative minimum tax. 100% of the Fund’s portfolio will be invested in U.S. dollar-denominated securities.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”). In addition, the Fund may invest in securities of other investment companies (specifically, registered money market funds) to manage uninvested cash in the portfolio.Under normal interest rate conditions, the Fund’s duration is expected to approximate that of the Goldman Sachs High Yield Municipal Fund Composite Index (comprised of 40% Bloomberg Municipal Bond Index and 60% Bloomberg Municipal High Yield Bond Index), plus or minus two years. (Historically over the last five years, the duration of the Goldman Sachs High Yield Municipal Fund Composite Index has ranged between 5.06 and 9.32 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 Investment Adviser measures the Fund’s performances against the Goldman Sachs High Yield Municipal Fund Composite Index, which is composed of the Bloomberg Municipal High Yield Bond Index (60%) and the Bloomberg Municipal Bond Index (40%) (with distributions reinvested).
Read More

GHYIX - Performance

Return Ranking - Trailing

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -2.0% 12.4% 31.37%
1 Yr 11.9% 1.0% 18.7% 24.51%
3 Yr -0.2%* -8.8% 3.0% 26.87%
5 Yr 1.9%* -5.0% 3.8% 16.24%
10 Yr 4.0%* -0.4% 155.6% 9.30%

* Annualized

Return Ranking - Calendar

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% -6.2% 7.5% 28.92%
2022 -17.2% -26.9% -3.5% 52.74%
2021 2.6% -1.9% 5.6% 33.84%
2020 1.3% -4.0% 4.2% 24.37%
2019 7.0% -0.7% 9.1% 11.52%

Total Return Ranking - Trailing

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.3% -2.0% 12.4% 31.37%
1 Yr 11.9% 1.0% 18.7% 24.51%
3 Yr -0.2%* -8.8% 3.0% 26.87%
5 Yr 1.9%* -5.0% 3.8% 16.24%
10 Yr 4.0%* -0.4% 155.6% 9.30%

* Annualized

Total Return Ranking - Calendar

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
2023 8.6% -4.1% 10.9% 18.14%
2022 -13.7% -26.9% 4.3% 48.76%
2021 5.8% -1.9% 10.0% 39.39%
2020 5.0% -2.6% 8.2% 22.34%
2019 9.2% -0.7% 1028633.9% 35.08%

NAV & Total Return History

GHYIX - Holdings

Concentration Analysis

GHYIX Category Low Category High GHYIX % Rank
Net Assets 10.5 B 9.79 K 15.6 B 6.93%
Number of Holdings 3021 1 3325 4.48%
Net Assets in Top 10 1.01 B -102 M 3.51 B 6.47%
Weighting of Top 10 9.13% 4.6% 98.8% 87.50%

Top 10 Holdings

  1. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.60%
  2. Buckeye Tobacco Settlement Financing Authority 1.18%
  3. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 1.06%
  4. Florida Development Finance Corp 0.98%
  5. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.97%
  6. Southeast Alabama Gas Supply District/The 0.76%
  7. City of Detroit MI 0.76%
  8. New Jersey Transportation Trust Fund Authority 0.67%
  9. Tobacco Settlement Financing Corp/VA 0.59%
  10. Chicago Board of Education 0.57%

Asset Allocation

Weighting Return Low Return High GHYIX % Rank
Bonds 		98.40% 0.00% 146.69% 64.22%
Cash 		1.61% -0.64% 100.00% 27.36%
Stocks 		0.00% 0.00% 99.62% 71.08%
Preferred Stocks 		0.00% -47.61% 0.00% 58.71%
Convertible Bonds 		0.00% 0.00% 0.00% 55.22%
Other 		0.00% -5.59% 5.07% 90.55%

Bond Sector Breakdown

Weighting Return Low Return High GHYIX % Rank
Municipal 		98.31% 0.00% 100.00% 50.25%
Corporate 		1.01% 0.00% 2.83% 13.43%
Cash & Equivalents 		0.00% 0.00% 100.00% 74.63%
Securitized 		0.00% 0.00% 22.44% 57.71%
Government 		0.00% 0.00% 0.09% 58.21%
Derivative 		0.00% -7.53% 2.16% 90.55%

Bond Geographic Breakdown

Weighting Return Low Return High GHYIX % Rank
US 		98.40% 0.00% 139.84% 60.20%
Non US 		0.00% 0.00% 13.35% 59.20%

GHYIX - Expenses

Operational Fees

GHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.22% 3.44% 92.12%
Management Fee 0.50% 0.00% 1.41% 57.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

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

Trading Fees

GHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 50.00%

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.

GHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 2.00% 121.00% 18.52%

GHYIX - Distributions

Dividend Yield Analysis

GHYIX Category Low Category High GHYIX % Rank
Dividend Yield 4.51% 0.00% 5.94% 27.45%

Dividend Distribution Analysis

GHYIX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

GHYIX Category Low Category High GHYIX % Rank
Net Income Ratio 3.21% 1.11% 5.44% 49.51%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GHYIX - Fund Manager Analysis

Managers

Scott Diamond

Start Date

Tenure

Tenure Rank

Dec 31, 2002

19.43

19.4%

Mr. Diamond joined the Goldman Sachs Asset Management, L.P. in 2002 as a portfolio manager on the U.S. Municipals team. Before joining the Investment Adviser, Mr. Diamond worked for Prudential Financial for nine years where he served as the portfolio manager for national and state specific mutual funds, as well as managing the municipal portfolio of several institutional accounts.

Joseph Wenzel

Start Date

Tenure

Tenure Rank

Jul 29, 2019

2.84

2.8%

Mr. Wenzel is a member of the municipal fixed income portfolio management team. His current responsibilities include portfolio construction, security selection and trading for municipal separate accounts and mutual funds. Prior to joining the team in 2004, Mr. Wenzel worked for 2 years in the Goldman Sachs Asset Management Compliance Group.

Sylvia Yeh

Start Date

Tenure

Tenure Rank

Mar 12, 2021

1.22

1.2%

TBD

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 21.43 7.55 2.52

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