Goldman Sachs Tactical Tilt Overlay Fund
Name
As of 05/02/2024Price
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
Vitals
YTD Return
-0.5%
1 yr return
3.1%
3 Yr Avg Return
2.9%
5 Yr Avg Return
3.7%
Net Assets
$4.1 B
Holdings in Top 10
37.3%
52 WEEK LOW AND HIGH
$10.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.85%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/02/2024Price
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
TTRFX - Profile
Distributions
- YTD Total Return -0.5%
- 3 Yr Annualized Total Return 2.9%
- 5 Yr Annualized Total Return 3.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 5.6%
- Dividend Distribution Frequency Annual
Fund Details
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Legal NameGoldman Sachs Tactical Tilt Overlay Fund
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Fund Family NameGoldman Sachs Fund Complex
-
Inception DateDec 29, 2017
-
Shares OutstandingN/A
-
Share ClassR6
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CurrencyUSD
-
Domiciled CountryUS
Fund Description
The Fund seeks to achieve its investment objective through the implementation of investment ideas that are generally derived from short-term or medium-term market views on a variety of asset classes and instruments (“Tactical Tilts”) generated by the Goldman Sachs Investment Strategy Group (“Investment Strategy Group”). Investment Strategy Group Tactical Tilt recommendations are recommendations to overweight or underweight exposures to certain asset classes, with such overweighting and underweighting to be funded from a “funding source” from which assets should be reallocated. The Investment Strategy Group will consider, among other things, the stand-alone risk/reward of each investment idea that may become a Tactical Tilt recommendation, how it fits with the Investment Strategy Group’s broader global economic and market views, and its merits compared to other ideas. The Investment Adviser determines in its sole discretion how to implement Tactical Tilt recommendations in the Fund.Tactical Tilts are generally implemented by investing in any one or in any combination of the following securities and instruments:(i) U.S. and foreign equity securities, including common and preferred stocks; (ii) pooled investment vehicles including, but not limited to, (a) unaffiliated investment companies, exchange-traded funds (“ETFs”) and exchange-traded notes (“ETNs”); and (b) affiliated investment companies that currently exist or that may become available for investment in the future for which GSAM or an affiliate now or in the future acts as investment adviser or principal underwriter (the “Underlying Funds”); (iii) fixed income instruments, which include, among others, debt issued by governments (including the U.S. and foreign governments), their agencies, instrumentalities, sponsored entities, and political subdivisions, notes, commercial paper, certificates of deposit, debt participations and non-investment grade securities (commonly known as “junk bonds”); (iv) derivatives and (v) commodity investments, primarily through a wholly-owned subsidiary of the Fund organized as a limited liability company under the laws of the Cayman Islands (the “Subsidiary”). The Fund’s investments may be publicly traded or privately issued or negotiated. The Fund may invest without restriction as to issuer capitalization, country, currency, maturity or credit rating. The Fund may implement short positions for hedging purposes or to seek to enhance absolute return, and may do so by using swaps or futures, or through short sales of any instrument that the Fund may purchase for investment.The Investment Adviser expects that the Fund may invest in one or more of the following Underlying Funds in order to implement Tactical Tilts: Goldman Sachs Core Fixed Income Fund, Goldman Sachs Dynamic Municipal Income Fund, Goldman Sachs Emerging Markets Debt Fund, Goldman Sachs Energy Infrastructure Fund, Goldman Sachs Enhanced Income Fund, Goldman Sachs Global Real Estate Securities Fund, Goldman Sachs Government Income Fund, Goldman Sachs High Yield Fund, Goldman Sachs High Yield Floating Rate Fund, Goldman Sachs High Yield Municipal Fund, Goldman Sachs Inflation Protected Securities Fund, Goldman Sachs Investment Grade Credit Fund, Goldman Sachs Emerging Markets Credit Fund, Goldman Sachs MLP Energy Infrastructure Fund, Goldman Sachs Short Duration Bond Fund and Goldman Sachs Short Duration Tax-Free Fund as may be determined by the Investment Adviser from time to time without considering or canvassing the universe of unaffiliated investment companies available.TheFund may invest in derivatives for both hedging and non-hedging purposes. Derivative positions may be listed or over the counter (“OTC”) and may or may not be centrally cleared. The Fund’s derivative investments may include but are not limited to:(i) futures contracts, including futures based on equity or fixed income securities and/or equity or fixed income indices, interest rate futures, currency futures and swap futures; (ii) swaps, including equity, currency, interest rate, total return, excess return, variance and credit default swaps, and swaps on futures contracts; (iii) options, including long and short positions in call options and put options on indices, individual securities or currencies, swaptions and options on futures contracts; (iv) forward contracts, including forwards based on equity or fixed income securities and/or equity or fixed income indices, currency forwards, interest rate forwards, swap forwards and non-deliverable forwards; and (v) other instruments, including structured securities and exchange-traded notes. As a result of the Fund’s use of derivatives, the Fund may also hold significant amounts of U.S. Treasuries or short-term investments, including money market funds, repurchase agreements, cash and time deposits.Investment in Cayman Subsidiary. The Fund seeks to gain exposure to the commodities markets by investing in the Subsidiary. The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary primarily obtains its commodity exposure by investing in commodity-linked derivative instruments, which may include but are not limited to total return swaps and excess return swaps on commodity indexes, sub-indexes and single commodities, as well as commodity (U.S. or foreign) futures, commodity options and commodity-linked notes. Commodity-linked swaps are derivative instruments whereby the cash flows agreed upon between counterparties are dependent upon the price of the underlying commodity or commodity index over the life of the swap. Commodity futures contracts are standardized, exchange-traded contracts that provide for the sale or purchase of, or economic exposure to the price of, a commodity or a specified basket of commodities at a future time. An option on commodities gives the purchaser the right (and the writer of the option the obligation) to assume a position in a commodity or a specified basket of commodities at a specified exercise price within a specified period of time. The value of these commodity-linked derivatives will rise and fall in response to changes in the underlying commodity or commodity index. Commodity-linked derivatives expose the Subsidiary and the Fund economically to movements in commodity prices. Such instruments may be leveraged so that small changes in the underlying commodity prices would result in disproportionate changes in the value of the instrument. Neither the Fund nor the Subsidiary invests directly in physical commodities. The Subsidiary may also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions, and foreign currency transactions (including forward contracts).Exposure to Commodities. The Fund may also gain exposure to commodities by investing in commodity index-linked structured notes, publicly traded partnerships (“PTPs”) and pooled investment vehicles (including ETFs, ETNs and affiliated or unaffiliated investment companies). PTPs are limited partnerships, the interests (or “units”) in which are traded on public exchanges. The Fund may invest in PTPs that are commodity pools.The investments and positions that the Investment Adviser determines to use to implement the Tactical Tilt recommendations will constitute the Fund’s only investments, other than its investments in investment-grade fixed income instruments, cash or cash equivalents or other short-term instruments. At any time, and from time to time, a material portion of the Fund’s assets may be invested in such instruments, and not for the purpose of implementing Tactical Tilts.The Fund is designed to provide investors with an efficient means of implementing the Tactical Tilts strategy, which is intended to complement an investor’s broader, diversified investment portfolio. A Tactical Tilt strategy should be an appropriately sized portion of an investor’s overall investment portfolio. It is important that investors view an allocation to the Fund as a long-term addition to a broader, diversified portfolio and not look to opportunistically time their investments in or redemptions from the Fund.The Fund’s benchmark index is the ICE® Bank of America Merrill Lynch Three-Month U.S. Treasury Bill Index. References in the Prospectus to the Fund’s benchmark are for informational purposes only and are not an indication of how the Fund is managed. The Fund’s risk profile is different from that of its benchmark and, as a result, the performance of the Fund may not correlate with that of the benchmark.THE PARTICULAR UNDERLYING FUNDS IN WHICH THE FUND MAY INVEST, AND THE INVESTMENTS IN EACH UNDERLYING FUND, MAY BE CHANGED FROM TIME TO TIME WITHOUT SHAREHOLDER APPROVAL OR NOTICE.
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TTRFX - Performance
Return Ranking - Trailing
Period | TTRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -64.9% | 866.0% | 32.91% |
1 Yr | 3.1% | -70.4% | 906.3% | 26.43% |
3 Yr | 2.9%* | -33.6% | 50.0% | N/A |
5 Yr | 3.7%* | -36.3% | 41.2% | N/A |
10 Yr | N/A* | -14.8% | 33.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | TTRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.4% | -58.1% | 80.6% | 73.19% |
2022 | 0.1% | -93.5% | 23.6% | N/A |
2021 | 6.2% | -55.3% | 69.8% | N/A |
2020 | 0.1% | -34.8% | 68.2% | N/A |
2019 | 3.7% | -40.3% | 22.5% | N/A |
Total Return Ranking - Trailing
Period | TTRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -64.9% | 866.0% | 32.91% |
1 Yr | 3.1% | -70.4% | 906.3% | 26.43% |
3 Yr | 2.9%* | -33.6% | 122.8% | N/A |
5 Yr | 3.7%* | -36.3% | 66.5% | N/A |
10 Yr | N/A* | -14.8% | 33.0% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | TTRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.0% | -58.1% | 80.6% | 73.36% |
2022 | 1.0% | -53.1% | 23.6% | N/A |
2021 | 8.4% | -55.3% | 69.8% | N/A |
2020 | 5.1% | -34.8% | 70.7% | N/A |
2019 | 4.9% | -38.0% | 30.8% | N/A |
NAV & Total Return History
TTRFX - Holdings
Concentration Analysis
TTRFX | Category Low | Category High | TTRFX % Rank | |
---|---|---|---|---|
Net Assets | 4.1 B | 92.3 K | 15.3 B | 30.14% |
Number of Holdings | 266 | 1 | 1315 | N/A |
Net Assets in Top 10 | 1.76 B | -82 M | 4.21 B | N/A |
Weighting of Top 10 | 37.33% | 3.7% | 100.0% | N/A |
Top 10 Holdings
- Goldman Sachs Financial Square Government Fund 25.60%
- U.S. Treasury Notes 3.21%
- U.S. Treasury Notes 2.32%
- Sprott Physical Uranium Trust 1.15%
- U.S. Treasury Notes 0.95%
- Caisse d'Amortissement de la Dette Sociale 0.86%
- Antalis SA 0.86%
- National Securities Clearing Corp 0.83%
- Canadian National Railway Co 0.82%
- Parker-Hannifin Corp 0.75%
Asset Allocation
Weighting | Return Low | Return High | TTRFX % Rank | |
---|---|---|---|---|
Cash | 56.36% | -0.17% | 1041.68% | N/A |
Stocks | 28.31% | -169.40% | 100.14% | N/A |
Bonds | 14.26% | -332.80% | 45.33% | N/A |
Other | 1.08% | -895.56% | 38.46% | N/A |
Preferred Stocks | 0.00% | 0.00% | 18.93% | N/A |
Convertible Bonds | 0.00% | 0.00% | 10.56% | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | TTRFX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 99.08% | N/A |
Technology | 0.00% | 0.00% | 99.85% | N/A |
Real Estate | 0.00% | 0.00% | 100.00% | N/A |
Industrials | 0.00% | 0.00% | 70.69% | N/A |
Healthcare | 0.00% | 0.00% | 100.00% | N/A |
Financial Services | 0.00% | 0.00% | 100.00% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 69.13% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 59.77% | N/A |
Basic Materials | 0.00% | 0.00% | 72.60% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TTRFX % Rank | |
---|---|---|---|---|
US | 27.16% | -162.68% | 79.97% | N/A |
Non US | 1.15% | -48.75% | 65.94% | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | TTRFX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 53.92% | 0.00% | 100.00% | N/A |
Derivative | 0.51% | -0.02% | 78.92% | N/A |
Securitized | 0.00% | 0.00% | 43.57% | N/A |
Corporate | 0.00% | 0.00% | 100.00% | N/A |
Municipal | 0.00% | 0.00% | 14.84% | N/A |
Government | 0.00% | 0.00% | 86.84% | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | TTRFX % Rank | |
---|---|---|---|---|
US | 14.26% | -48.89% | 34.30% | N/A |
Non US | 0.00% | -345.85% | 11.03% | N/A |
TTRFX - Expenses
Operational Fees
TTRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.85% | 0.08% | 45.48% | N/A |
Management Fee | 0.71% | 0.00% | 2.94% | 25.89% |
12b-1 Fee | N/A | 0.00% | 1.00% | 7.60% |
Administrative Fee | N/A | 0.03% | 1.47% | N/A |
Sales Fees
TTRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
TTRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
TTRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 496.00% | 29.60% |
TTRFX - Distributions
Dividend Yield Analysis
TTRFX | Category Low | Category High | TTRFX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.58% | 0.00% | 11.31% | 37.90% |
Dividend Distribution Analysis
TTRFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
TTRFX | Category Low | Category High | TTRFX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -4.31% | 6.50% | N/A |
Capital Gain Distribution Analysis
TTRFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 26, 2023 | $0.571 | OrdinaryDividend |
Dec 27, 2022 | $0.089 | OrdinaryDividend |
Dec 31, 2021 | $0.213 | OrdinaryDividend |
Dec 31, 2020 | $0.486 | OrdinaryDividend |
Dec 31, 2019 | $0.115 | OrdinaryDividend |
Dec 31, 2018 | $0.257 | OrdinaryDividend |