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GHYIX Goldman Sachs High Yield Muni Instl

  • Fund
  • GHYIX
  • Price as of: Jul 10, 2019
  • $10.13 - $0.00 - 0.00%
  • Category
  • High Yield Municipal Bonds

GHYIX - Profile

Vitals

  • YTD Return 5.3%
  • 3 Yr Annualized Return 1.3%
  • 5 Yr Annualized Return 2.2%
  • Net Assets $7.75 B
  • Holdings in Top 10 12.8%

52 WEEK LOW AND HIGH

$10.13
$9.53
$10.13

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.58%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 16.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

$0

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Muni

Distributions

  • YTD Total Return 5.3%
  • 3 Yr Annualized Total Return 1.3%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.27%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Goldman Sachs High Yield Municipal Fund
  • Fund Family Name Goldman Sachs
  • Inception Date Apr 03, 2000
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Ben Barber

Fund Description

The fund invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in fixed income securities issued by or on behalf of states, territories and possessions of the United States and the political subdivisions, agencies and instrumentalities thereof, the interest on which is exempt from regular federal income tax.

GHYIX - Performance

Return Ranking - Trailing

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% 1.6% 6.6% 7.09%
1 Yr 3.7% -0.4% 6.6% 7.09%
3 Yr 1.3%* -2.2% 2.4% 5.74%
5 Yr 2.2%* -0.5% 2.2% 2.46%
10 Yr 3.1%* 0.8% 6.5% 6.02%

* Annualized


Return Ranking - Calendar

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
2018 0.7% -5.6% 4.2% 4.80%
2017 4.6% 0.0% 8.6% 28.80%
2016 -1.3% -6.7% -1.2% 3.28%
2015 -1.0% -2.0% 2.9% 85.25%
2014 10.0% 3.6% 83.0% 33.05%

Total Return Ranking - Trailing

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% 1.6% 6.7% 9.45%
1 Yr 3.7% -0.4% 7.2% 11.81%
3 Yr 1.3%* -2.1% 3.2% 11.48%
5 Yr 2.2%* -0.5% 5.3% 9.84%
10 Yr 3.1%* 0.8% 7.2% 12.05%

* Annualized


Total Return Ranking - Calendar

Period GHYIX Return Category Return Low Category Return High Rank in Category (%)
2018 0.7% -3.7% 4.2% 7.20%
2017 4.6% 0.0% 9.8% 32.80%
2016 -1.3% -4.6% 0.8% 9.02%
2015 -1.0% -2.0% 5.3% 85.25%
2014 10.0% 3.6% 83.0% 37.29%

NAV & Total Return History

GHYIX - Holdings

Concentration Analysis

GHYIX Category Low Category High GHYIX % Rank
Net Assets 7.75 B 45.7 M 18.9 B 8.66%
Number of Holdings 1419 42 3378 18.90%
Net Assets in Top 10 942 M 4.84 M 2.12 B 6.30%
Weighting of Top 10 12.80% 4.3% 39.1% 40.94%

Top 10 Holdings

  1. Swap/12/21/2041/P:usd 2.25000 /R:usd/Libor/3m 2.42%

  2. Swap/06/19/2049/P:usd 3.00000 /R:usd/Libor/3m 2.04%

  3. JEFFERSON CNTY ALA SWR REV 6.5% 1.29%

  4. SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% 1.29%

  5. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.12% 1.12%

  6. ILLINOIS ST 5% 1.04%

  7. CHICAGO ILL BRD ED 6.5% 0.97%

  8. NEW JERSEY ST TRANSN TR FD AUTH 0.95%

  9. CHICAGO ILL BRD ED 7% 0.88%

  10. ILLINOIS ST 5% 0.79%


Asset Allocation

Weighting Return Low Return High GHYIX % Rank
Bonds
103.81% 81.91% 103.81% 3.15%
Stocks
0.00% 0.00% 0.55% 92.13%
Preferred Stocks
0.00% 0.00% 0.42% 92.13%
Other
0.00% 0.00% 1.02% 95.28%
Convertible Bonds
0.00% 0.00% 0.00% 92.13%
Cash
-3.81% -3.81% 18.09% 100.00%

Bond Sector Breakdown

Weighting Return Low Return High GHYIX % Rank
Municipal
98.66% 91.17% 103.28% 58.27%
Government
4.74% -10.34% 4.74% 3.15%
Securitized
0.00% 0.00% 0.02% 92.13%
Corporate
0.00% 0.00% 2.77% 92.91%
Derivative
-0.12% -0.12% 0.05% 100.00%
Cash & Equivalents
-3.28% -3.28% 18.09% 100.00%

Bond Geographic Breakdown

Weighting Return Low Return High GHYIX % Rank
US
97.41% 77.16% 103.27% 43.31%
Non US
6.40% 0.00% 12.42% 16.54%

GHYIX - Expenses

Operational Fees

GHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.58% 0.27% 1.97% 95.28%
Management Fee 0.52% 0.26% 0.75% 67.72%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 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% 4.75% N/A
Deferred Load N/A 0.60% 5.50% N/A

Trading Fees

GHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.75% 2.00% 42.86%

Turnover 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 16.00% 3.00% 119.00% 17.32%

GHYIX - Distributions

Dividend Yield Analysis

GHYIX Category Low Category High GHYIX % Rank
Dividend Yield 0.03% 0.01% 4.99% 63.78%

Dividend Distribution Analysis

GHYIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

GHYIX Category Low Category High GHYIX % Rank
Net Income Ratio 4.27% 1.46% 5.35% 21.26%

Capital Gain Distribution Analysis

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

GHYIX - Managers

Ben Barber

Manager

Start Date

Tenure

Tenure Rank

Apr 03, 2000

19.25

19.3%

Mr. Barber is the Head of the Municipals team. Mr. Barber joined the Goldman Sachs Asset Management, L.P. in 1999 as a portfolio manager, and prior to that, he was with Franklin Advisers from 1991 to 1999. Barber is a member of the National Federation of Municipal Analysts, the California Society of Municipal Analysts and the Municipal Bond Club of San Francisco.


Scott Diamond

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2002

16.51

16.5%

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.


Tenure Analysis

Category Low

0.75

Category High

14.67

Category Average

6.07

Category Mode

9.43