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Trending ETFs

Goldman Sachs High Yield Floating Rate Fund

mutual fund
GFRRX
Payout Change
Pending
Price as of:
$8.88 +0.0 +0.0%
primary theme
Bank Loan
share class
Instl (GSFRX) C (GFRCX) R6 (GFRSX) A (GFRAX) R (GFRRX) Investor (GFRIX) P (GGNPX)
GFRRX (Mutual Fund)

Goldman Sachs High Yield Floating Rate Fund

Payout Change
Pending
Price as of:
$8.88 +0.0 +0.0%
primary theme
Bank Loan
share class
Instl (GSFRX) C (GFRCX) R6 (GFRSX) A (GFRAX) R (GFRRX) Investor (GFRIX) P (GGNPX)
GFRRX (Mutual Fund)

Goldman Sachs High Yield Floating Rate Fund

Payout Change
Pending
Price as of:
$8.88 +0.0 +0.0%
primary theme
Bank Loan
share class
Instl (GSFRX) C (GFRCX) R6 (GFRSX) A (GFRAX) R (GFRRX) Investor (GFRIX) P (GGNPX)

Name

As of 12/11/2024

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 Floating Rate Fund

GFRRX | Fund

$8.88

$1.95 B

7.05%

$0.63

1.35%

Vitals

YTD Return

7.9%

1 yr return

8.6%

3 Yr Avg Return

5.3%

5 Yr Avg Return

4.5%

Net Assets

$1.95 B

Holdings in Top 10

9.3%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.35%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/11/2024

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 Floating Rate Fund

GFRRX | Fund

$8.88

$1.95 B

7.05%

$0.63

1.35%

GFRRX - Profile

Distributions

  • YTD Total Return 7.9%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 4.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.79%
DIVIDENDS
  • Dividend Yield 7.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Goldman Sachs High Yield Floating Rate Fund
  • Fund Family Name
    Goldman Sachs Fund Complex
  • Inception Date
    Mar 31, 2011
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Peter Campo

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 domestic or foreign floating rate loans and other floating or variable rate obligations rated below investment grade. Non-investment grade obligations are those rated BB+, Ba1 or below by a nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined by the Investment Adviser to be of comparable credit quality, and are commonly referred to as “junk bonds.”The Fund’s investments in floating and variable rate obligations may include, without limitation, senior secured loans (including assignments and participations), second lien loans, senior unsecured and subordinated loans, senior and subordinated corporate debt obligations (such as bonds, debentures, notes and commercial paper), debt issued by governments, their agencies and instrumentalities, and debt issued by central banks. The Fund may invest indirectly in loans by purchasing participations or sub-participations from financial institutions. Participations and sub-participations represent the right to receive a portion of the principal of, and all of the interest relating to such portion of, the applicable loan. The Fund expects to invest principally in the U.S. loan market and, to a lesser extent, in the European loan market. The Fund may also invest in other loan markets, although it does not currently intend to do so.Under normal conditions, the Fund may invest up to 20% of its Net Assets in fixed income instruments, of any credit rating, including fixed rate corporate bonds, government bonds, convertible debt obligations, and mezzanine fixed income instruments. The Fund may also invest in floating or variable rate instruments that are rated investment grade and in preferred stock, repurchase agreements and cash securities.The Fund may also invest in derivative instruments. Derivatives are instruments that have a value based on another instrument, exchange rate or index. The Fund’s investments in derivatives may include credit default swaps on credit and loan indices, forward contracts and total return swaps, among others. The Fund may use currency management techniques, such as forward foreign currency contracts, for hedging or non-hedging purposes. The Fund may invest in interest rate futures and swaps to manage the portfolio’s duration. Derivatives that provide exposure to floating or variable rate loans or obligations rated below investment grade are counted towards the Fund’s 80% policy.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’s target duration range under normal interest rate conditions is expected to approximate that of the Credit Suisse Leveraged Loan Index, plus or minus one year, and over the last five years ended June 30, 2024, the duration of this index has ranged between 0.03 and 0.19 years. The Fund’s investments in floating rate obligations will generally have short to intermediate maturities (approximately 4-7 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’s investments are selected using a bottom-up analysis that incorporates fundamental research, a focus on market conditions and pricing trends, quantitative research, and news or market events. 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. The selection of individual investments is based on the overall risk and return profile of the investment taking into account liquidity, structural complexity, cash flow uncertainty and downside potential. Research analysts and portfolio managers systematically assess portfolio positions, taking into consideration, among other factors, broader macroeconomic conditions and industry and company-specific financial performance and outlook. Based upon this analysis, the Investment Adviser will sell positions determined to be overvalued and reposition the portfolio in more attractive investment opportunities on a relative basis given the current climate. No one factor or consideration is determinative in the fundamental investment process.The Investment Adviser measures the Fund’s performance against the Credit Suisse Leveraged Loan Index.
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GFRRX - Performance

Return Ranking - Trailing

Period GFRRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.9% -3.4% 10.8% 70.19%
1 Yr 8.6% -3.2% 12.9% 72.45%
3 Yr 5.3%* -6.8% 7.9% 59.92%
5 Yr 4.5%* -6.1% 38.3% 55.60%
10 Yr 3.7%* -1.9% 20.0% 63.74%

* Annualized

Return Ranking - Calendar

Period GFRRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -12.0% 11.1% 63.77%
2022 -7.4% -22.9% 5.1% 48.84%
2021 0.9% -12.2% 11.1% 57.14%
2020 -1.9% -14.1% 289.8% 29.34%
2019 3.7% -8.1% 7.5% 15.32%

Total Return Ranking - Trailing

Period GFRRX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.9% -3.4% 10.8% 70.19%
1 Yr 8.6% -3.2% 12.9% 72.45%
3 Yr 5.3%* -6.8% 7.9% 59.92%
5 Yr 4.5%* -6.1% 38.3% 55.60%
10 Yr 3.7%* -1.9% 20.0% 63.74%

* Annualized

Total Return Ranking - Calendar

Period GFRRX Return Category Return Low Category Return High Rank in Category (%)
2023 12.1% -12.0% 22.1% 58.87%
2022 -2.3% -22.9% 5.1% 52.33%
2021 4.1% -10.2% 11.1% 71.43%
2020 2.4% -14.1% 306.9% 32.23%
2019 8.8% -3.6% 10.5% 20.00%

NAV & Total Return History

GFRRX - Holdings

Concentration Analysis

GFRRX Category Low Category High GFRRX % Rank
Net Assets 1.95 B 29.9 M 13.5 B 26.64%
Number of Holdings 414 2 2051 38.91%
Net Assets in Top 10 185 M -191 M 2.37 B 32.30%
Weighting of Top 10 9.25% 5.2% 100.7% 84.38%

Top 10 Holdings

  1. Goldman Sachs Financial Square Government Fund 2.08%
  2. Invesco Senior Loan ETF 1.26%
  3. SPDR Blackstone Senior Loan ETF 1.25%
  4. IRB Holding Corp 2024 Term Loan B 0.76%
  5. TK Elevator US Newco Inc USD Term Loan B 0.69%
  6. Verisure Holding AB 2021 EUR Term Loan 0.67%
  7. CQP Holdco LP 2024 Term Loan B 0.64%
  8. Delek US Holdings Inc 2022 Term Loan B 0.64%
  9. Alterra Mountain Company 2024 Term Loan B4 0.64%
  10. APX Group Inc 2021 Term Loan B 0.62%

Asset Allocation

Weighting Return Low Return High GFRRX % Rank
Bonds 		93.53% 0.00% 161.82% 59.53%
Stocks 		5.60% 0.00% 100.74% 11.67%
Cash 		0.93% -61.90% 16.36% 74.71%
Convertible Bonds 		0.08% 0.00% 5.51% 38.43%
Preferred Stocks 		0.01% -3.99% 7.54% 27.24%
Other 		-0.07% -52.39% 26.58% 93.39%

Stock Sector Breakdown

Weighting Return Low Return High GFRRX % Rank
Utilities 		0.00% 0.00% 100.00% 89.41%
Technology 		0.00% 0.00% 100.00% 84.75%
Real Estate 		0.00% 0.00% 48.61% 83.05%
Industrials 		0.00% 0.00% 100.00% 86.86%
Healthcare 		0.00% 0.00% 100.00% 82.63%
Financial Services 		0.00% 0.00% 89.61% 83.47%
Energy 		0.00% 0.00% 100.00% 34.32%
Communication Services 		0.00% 0.00% 100.00% 19.07%
Consumer Defense 		0.00% 0.00% 100.00% 37.71%
Consumer Cyclical 		0.00% 0.00% 97.66% 89.83%
Basic Materials 		0.00% 0.00% 1.36% 84.75%

Stock Geographic Breakdown

Weighting Return Low Return High GFRRX % Rank
US 		5.42% -0.01% 100.74% 14.01%
Non US 		0.18% 0.00% 0.68% 7.78%

Bond Sector Breakdown

Weighting Return Low Return High GFRRX % Rank
Corporate 		88.94% 0.00% 99.80% 57.65%
Securitized 		0.91% 0.00% 91.68% 34.12%
Cash & Equivalents 		0.60% 0.00% 25.03% 67.70%
Municipal 		0.00% 0.00% 0.47% 76.86%
Government 		0.00% 0.00% 3.18% 78.04%
Derivative 		-0.07% -11.46% 0.67% 95.33%

Bond Geographic Breakdown

Weighting Return Low Return High GFRRX % Rank
US 		89.65% 0.00% 124.50% 61.48%
Non US 		3.88% 0.00% 63.23% 35.02%

GFRRX - Expenses

Operational Fees

GFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.35% 0.03% 5.51% 39.02%
Management Fee 0.57% 0.00% 1.89% 28.03%
12b-1 Fee 0.50% 0.00% 1.00% 65.41%
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

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

Trading Fees

GFRRX 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.

GFRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 4.00% 180.00% 9.50%

GFRRX - Distributions

Dividend Yield Analysis

GFRRX Category Low Category High GFRRX % Rank
Dividend Yield 7.05% 0.00% 11.13% 57.74%

Dividend Distribution Analysis

GFRRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

GFRRX Category Low Category High GFRRX % Rank
Net Income Ratio 2.79% 1.77% 9.82% 86.56%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GFRRX - Fund Manager Analysis

Managers

Peter Campo

Start Date

Tenure

Tenure Rank

Mar 19, 2018

4.2

4.2%

Mr. Campo is a member of the High Yield and Bank Loans team. He joined Goldman Sachs Asset Management, L.P in 2018. Prior to joining Goldman Sachs Asset Management, L.P, he worked at Eaton Vance as a portfolio manager and research analyst.

Ashish Shah

Start Date

Tenure

Tenure Rank

Jan 29, 2021

1.33

1.3%

Mr. Shah is Co-Chief Investment Officer of Global Fixed Income, Global Head of Corporate Credit and Head of the Cross-Sector Strategy within Fixed Income. Mr. Shah joined Goldman Sachs Asset Management, L.P. in 2018. Mr. Shah was previously at AllianceBernstein from 2010 to 2018, where he was most recently the Head of Fixed Income and Chief Investment Officer of Global Credit. Prior to AB, he was a managing director and head of Global Credit Strategy at Barclays Capital (2008-2010). From 2003 to 2008, Shah was the head of Credit Strategy at Lehman Brothers.

Lori Pomerantz

Start Date

Tenure

Tenure Rank

Jan 29, 2021

1.33

1.3%

Mrs. Pomerantz is a Portfolio Manager on Goldman Sachs Asset Management, L.P. She joined the Goldman Sachs, initially in the Alternative Investments and Manager Selection (AIMS) business, where she spearheaded long only fixed income manager selection.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.08 3.25

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