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Trending ETFs

Name

As of 03/27/2024

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

$3.98

$34.7 M

6.37%

$0.25

2.26%

Vitals

YTD Return

2.1%

1 yr return

8.0%

3 Yr Avg Return

-0.1%

5 Yr Avg Return

0.7%

Net Assets

$34.7 M

Holdings in Top 10

16.5%

52 WEEK LOW AND HIGH

$4.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.26%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 123.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$3.98

$34.7 M

6.37%

$0.25

2.26%

GLIRX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.70%
DIVIDENDS
  • Dividend Yield 6.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs Local Emerging Markets Debt Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Jul 30, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Samuel Finkelstein

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 sovereign and corporate debt securities of issuers in emerging market countries, denominated in the local currency of such emerging market countries, and other instruments, including credit linked notes and other investments, with similar economic exposures.The Fund’s portfolio managers seek to build a portfolio across the emerging markets debt market consistent with the Fund’s overall risk budget and the views of the Investment Adviser’s Global Fixed Income top-down teams. 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. No one factor or consideration is determinative in the fundamental investment process.The Fund may invest in all types of foreign and emerging country fixed income securities, including the following:Debt issued by governments, their agencies and instrumentalities, or by their central banks, including Brady Bonds;Interests in structured securities;Fixed and floating rate, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper);Loan participations; andRepurchase agreements with respect to the foregoing.Foreign securities include securities of issuers located outside the U.S. or securities quoted or denominated in a currency other than the U.S. Dollar.Currency investments, particularly longer-dated forward contracts, provide the Fund with economic exposure similar to investments in sovereign and corporate debt with respect to currency and interest rate exposure. The Investment Adviser intends to use structured securities and derivative instruments to attempt to improve the performance of the Fund or to gain exposure to certain countries or currencies in the Fund’s investment portfolio in accordance with its investment objective, and the Fund’s investments in these instruments may be significant. These transactions may result in substantial realized and unrealized capital gains and losses relative to the gains and losses from the Fund’s investments in bonds and other 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”).The Fund may invest in securities of any credit rating. The countries in which the Fund invests may have sovereign ratings that are below investment grade or are unrated. Moreover, to the extent the Fund invests in corporate or other privately issued debt obligations, many of the issuers of such obligations will be smaller companies with stock market capitalizations of $1 billion or less at the time of investment. Securities of these issuers may be rated below investment grade (so-called “high yield” or “junk” bonds) or unrated. Although a majority of the Fund’s assets will be denominated in non-U.S. Dollars, the Fund may invest in securities denominated in the U.S. Dollar.For purposes of the Fund’s policy to invest at least 80% of its Net Assets in securities and instruments of “emerging market country” issuers, the Investment Adviser generally expects a country to be an “emerging market country” if the country is identified as an “emerging market country” in any of the Fund’s benchmark indices. Such countries are likely to be located in Africa, Asia, the Middle East, Eastern and Central Europe and Latin America. Sovereign debt consists of debt securities issued by governments or any of their agencies, political subdivisions or instrumentalities, denominated in the local currency. Sovereign debt may also include nominal and real inflation-linked securities. An emerging market country issuer is an issuer economically tied to an emerging market country.The Fund’s target duration range under normal interest rate conditions is expected to approximate that of the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged), plus or minus 2 years, and over the last five years ended June 30, 2023, the duration of this index has ranged between 4.8 and 5.5 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 may invest in the aggregate up to 20% of its Net Assets in investments other than emerging country fixed income securities, currency investments and related derivatives, including (without limitation) equity securities and fixed income securities, such as government, corporate and bank debt obligations, of developed country issuers.The Fund’s benchmark index is the J.P. Morgan Government Bond Index—Emerging Markets (GBI-EMSM) Global Diversified Index (Gross, USD, Unhedged).THE FUND IS NON-DIVERSIFIED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”), AND MAY INVEST A LARGER PERCENTAGE OF ITS ASSETS IN FEWER ISSUERS THAN DIVERSIFIED MUTUAL FUNDS.
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GLIRX - Performance

Return Ranking - Trailing

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.8% 93.3% 25.66%
1 Yr 8.0% -3.8% 112.3% 65.79%
3 Yr -0.1%* -13.6% 21.2% 32.42%
5 Yr 0.7%* -8.7% 12.8% 62.41%
10 Yr -0.7%* -5.2% 6.6% 86.13%

* Annualized

Return Ranking - Calendar

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.4% -10.6% 17.8% 98.36%
2022 -17.5% -29.1% -2.4% 41.84%
2021 -11.6% -24.0% 2.7% 79.44%
2020 -0.2% -14.0% 9.7% 69.42%
2019 8.0% -6.4% 13.0% 56.57%

Total Return Ranking - Trailing

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -2.8% 93.3% 25.66%
1 Yr 8.0% -3.8% 112.3% 65.79%
3 Yr -0.1%* -13.6% 21.2% 32.42%
5 Yr 0.7%* -8.7% 12.8% 62.41%
10 Yr -0.7%* -5.2% 6.6% 86.13%

* Annualized

Total Return Ranking - Calendar

Period GLIRX Return Category Return Low Category Return High Rank in Category (%)
2023 10.2% -0.6% 20.0% 72.37%
2022 -10.7% -27.6% -1.7% 22.79%
2021 -7.6% -18.5% 7.4% 80.49%
2020 4.0% -7.8% 18.0% 67.63%
2019 12.9% -3.0% 23.0% 55.47%

NAV & Total Return History


GLIRX - Holdings

Concentration Analysis

GLIRX Category Low Category High GLIRX % Rank
Net Assets 34.7 M 331 K 14.4 B 71.48%
Number of Holdings 240 4 1833 52.46%
Net Assets in Top 10 5.71 M -134 M 1.25 B 81.31%
Weighting of Top 10 16.50% 5.1% 101.4% 60.93%

Top 10 Holdings

  1. Ecopetrol SA 2.65%
  2. Petroleos de Venezuela SA 1.94%
  3. Banco de Bogota SA 1.89%
  4. Galaxy Pipeline Assets Bidco Ltd 1.72%
  5. Sands China Ltd 1.55%
  6. Mersin Uluslararasi Liman Isletmeciligi AS 1.51%
  7. Banco do Brasil SA/Cayman 1.40%
  8. Ceska sporitelna AS 1.31%
  9. Anadolu Efes Biracilik Ve Malt Sanayii AS 1.28%
  10. Hunt Oil Co of Peru LLC Sucursal Del Peru 1.25%

Asset Allocation

Weighting Return Low Return High GLIRX % Rank
Bonds
98.75% 0.91% 99.54% 2.62%
Cash
0.97% 0.00% 21.93% 93.77%
Other
0.28% -9.56% 88.17% 34.75%
Convertible Bonds
0.02% 0.00% 8.47% 59.27%
Stocks
0.00% -0.01% 93.55% 39.67%
Preferred Stocks
0.00% 0.00% 1.28% 13.44%

Bond Sector Breakdown

Weighting Return Low Return High GLIRX % Rank
Government
72.14% 0.00% 99.79% 31.46%
Corporate
8.97% 0.00% 93.26% 74.50%
Derivative
0.28% -2.00% 7.35% 20.98%
Cash & Equivalents
0.00% 0.00% 23.23% 80.66%
Securitized
0.00% 0.00% 2.41% 21.19%
Municipal
0.00% 0.00% 0.00% 8.61%

Bond Geographic Breakdown

Weighting Return Low Return High GLIRX % Rank
US
92.81% -42.31% 99.01% 23.61%
Non US
5.94% 0.00% 132.49% 67.87%

GLIRX - Expenses

Operational Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.26% 0.02% 35.56% 11.51%
Management Fee 0.80% 0.00% 1.10% 77.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 38.71%

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.

GLIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 123.00% 0.00% 218.00% 88.68%

GLIRX - Distributions

Dividend Yield Analysis

GLIRX Category Low Category High GLIRX % Rank
Dividend Yield 6.37% 0.00% 22.11% 1.31%

Dividend Distribution Analysis

GLIRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

GLIRX Category Low Category High GLIRX % Rank
Net Income Ratio 3.70% -2.28% 8.00% 70.13%

Capital Gain Distribution Analysis

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

Distributions History

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GLIRX - Fund Manager Analysis

Managers

Samuel Finkelstein


Start Date

Tenure

Tenure Rank

Feb 15, 2008

14.3

14.3%

Samuel Finkelstein is head of Currency, Commodities and Emerging Market Debt strategy teams within the Global Fixed Income team in GSAM. He is also a member of the Fixed Income Strategy Group. Mr. Finkelstein joined Goldman Sachs in 1997 as an analyst in Fixed Income Asset Management. He worked on the Fixed Income portfolio risk and strategy team for two years and then became an emerging market portfolio manager. Mr. Finkelstein was named managing director in 2005 and partner in 2010. Prior to joining the firm, he worked as a foreign exchange trader at Union Bank of Switzerland. Mr. Finkelstein earned an MBA from the Stern School of Business at New York University and a BA in Economics and Mathematics from Yale University in 1996.

Ricardo Penfold


Start Date

Tenure

Tenure Rank

Feb 15, 2008

14.3

14.3%

Penfold is vice president at GSAM,and he joined GSAM in 2000.Prior to that he was head of Research and Economics in Venezuela for Santander Investments and Banco Santander Central Hispano for four years.

Kay Haigh


Start Date

Tenure

Tenure Rank

Jul 29, 2020

1.84

1.8%

Mr. Haigh is the Global Co-Head of Emerging Markets. Prior to joining the Goldman Sachs Asset Management, he was an emerging markets portfolio manager at Stone Milliner Asset Management, and he was global head of emerging markets at Morgan Stanley Investment Management.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11