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Goldman Sachs Commodity Strategy Fund
mutual fund
GGRPX
Payout Change
Pending
Price as of:
$8.38
-0.09
-1.06%
primary theme
Commodity
GGRPX (Mutual Fund)
Goldman Sachs Commodity Strategy Fund
Payout Change
Pending
Price as of:
$8.38
-0.09
-1.06%
primary theme
Commodity
GGRPX (Mutual Fund)
Goldman Sachs Commodity Strategy Fund
Payout Change
Pending
Price as of:
$8.38
-0.09
-1.06%
primary theme
Commodity
Name
As of 11/06/2024Price
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
4.2%
1 yr return
1.3%
3 Yr Avg Return
2.1%
5 Yr Avg Return
3.1%
Net Assets
$547 M
Holdings in Top 10
93.4%
52 WEEK LOW AND HIGH
$8.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.77%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 83.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/06/2024Price
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
GGRPX - Profile
Distributions
- YTD Total Return 4.2%
- 3 Yr Annualized Total Return 2.1%
- 5 Yr Annualized Total Return 3.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.57%
- Dividend Yield 4.5%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameGoldman Sachs Commodity Strategy Fund
-
Fund Family NameGoldman Sachs Fund Complex
-
Inception DateApr 17, 2018
-
Shares OutstandingN/A
-
Share ClassP
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Hyman
Fund Description
The Fund seeks to maintain substantial economic exposure to the performance of the commodities markets. The Fund primarily gains exposure to the commodities markets by investing in a wholly-owned subsidiary of the Fund organized as a company under the laws of the Cayman Islands, Cayman Commodity – CSF, Ltd. (the “CSF Subsidiary”). The CSF Subsidiary is advised by the Investment Adviser, and has the same investment objective as the Fund. CoreCommodity Management, LLC (the “Sub-Adviser” or “CoreCommodity”) serves as sub-adviser to both the Fund and the CSF Subsidiary.The Fund seeks to provide exposure to the commodities markets by investing, through the CSF Subsidiary, in commodity-linked investments including, without limitation, commodity swaps, commodity futures contracts, exchange-listed commodity forward contracts, options on commodity futures, and commodity-linked notes. In pursuing its objective, the Fund attempts to provide long and/or short exposure to the returns of real assets that trade in the commodity markets without direct investment in physical commodities. The Fund uses the Bloomberg Commodity Index Total Return (“BCOM”) as its performance benchmark, but the Fund is actively managed and will not attempt to replicate the index.Investment in the Subsidiary. The Fund may invest up to 25% of its total assets in the CSF Subsidiary. The CSF Subsidiary primarily obtains its commodity exposure by investing in commodity-linked derivative instruments (which typically includes total return swaps). 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 (or a component of the underlying commodity index) over the life of the swap. The value of the swap will rise and fall in response to changes in the underlying commodity or commodity index (or component of the underlying commodity index). Commodity-linked swaps expose the CSF 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 CSF Subsidiary invests directly in physical commodities. The CSF Subsidiary will also invest in other instruments, including fixed income securities, either as investments or to serve as margin or collateral for its swap positions.The Sub-Adviser will take various factors into account when seeking commodity market exposure, such as, without limitation, the results of proprietary models developed by the Sub-Adviser, relative price differentials for various commodity futures for current delivery as compared to those for future delivery, and market conditions. Among other strategies, the Fund employs commodity roll-timing strategies. “Rolling” futures exposure is the process by which the holder of a particular futures contract or other instrument providing futures exposure (e.g. swaps) will sell such contract or instrument on or before the expiration date and simultaneously purchase a new contract or instrument with identical terms except for a later expiration date. This process allows a holder of the instrument to extend its current position through the original instrument’s expiration without delivering the underlying asset. The Fund’s rolling may differ from that of the BCOM to the extent necessary to enable the Fund to seek excess returns over the BCOM. The Fund’s “roll-timing” strategies may include, for example, rolling the Fund’s commodity exposure earlier or later versus the BCOM, or holding and rolling positions with longer or different expiration dates than the BCOM. The Fund also may underweight or overweight various commodities as compared to the BCOM, and may utilize commodities that are not components of the BCOM.Fixed Income Investments. As a result of the Fund’s use of derivatives, the Fund may hold as collateral significant amounts of U.S. Treasury or short-term investments, including money market funds. In managing the collateral portion of the Fund’s investment strategy, the Sub-Adviser generally seeks capital preservation. The average duration will vary. The Sub-Adviser uses derivatives, including futures and swaps, to manage the duration of the Fund’s investment portfolio.Other. The Fund may also invest in forwards, futures, and swaps, which are used for both hedging and non-hedging purposes. The Fund may invest up to 35% of its net assets in foreign securities.The Fund’s benchmark index is the BCOM.
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GGRPX - Performance
Return Ranking - Trailing
| Period | GGRPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -38.2% | 36.3% | 55.81% |
| 1 Yr | 1.3% | -54.1% | 39.8% | 56.59% |
| 3 Yr | 2.1%* | -44.9% | 276.3% | 60.63% |
| 5 Yr | 3.1%* | -32.5% | 132.8% | 87.10% |
| 10 Yr | N/A* | -28.7% | 47.5% | 80.30% |
* Annualized
Return Ranking - Calendar
| Period | GGRPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -13.4% | -64.0% | 30.1% | 89.15% |
| 2022 | 4.7% | -40.8% | 2475.6% | 27.34% |
| 2021 | 14.7% | -23.3% | 106.7% | 36.22% |
| 2020 | -23.2% | -71.9% | 295.5% | 86.29% |
| 2019 | 5.4% | -31.8% | 53.9% | 70.73% |
Total Return Ranking - Trailing
| Period | GGRPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -38.2% | 36.3% | 55.81% |
| 1 Yr | 1.3% | -54.1% | 39.8% | 56.59% |
| 3 Yr | 2.1%* | -44.9% | 276.3% | 60.63% |
| 5 Yr | 3.1%* | -32.5% | 132.8% | 87.10% |
| 10 Yr | N/A* | -28.7% | 47.5% | 80.30% |
* Annualized
Total Return Ranking - Calendar
| Period | GGRPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -9.7% | -64.0% | 41.1% | 91.47% |
| 2022 | 15.8% | -15.1% | 5648.8% | 39.06% |
| 2021 | 33.5% | -23.3% | 188.1% | 26.77% |
| 2020 | -22.9% | -67.8% | 296.1% | 87.10% |
| 2019 | 15.9% | -31.8% | 53.9% | 26.02% |
NAV & Total Return History
GGRPX - Holdings
Concentration Analysis
| GGRPX | Category Low | Category High | GGRPX % Rank | |
|---|---|---|---|---|
| Net Assets | 547 M | 2.34 M | 62.8 B | 51.90% |
| Number of Holdings | 58 | 1 | 1009 | 50.39% |
| Net Assets in Top 10 | 369 M | 2.66 M | 63.2 B | 68.22% |
| Weighting of Top 10 | 93.42% | 17.2% | 169.5% | 40.00% |
Top 10 Holdings
- U.S. Treasury Bills 21.70%
- U.S. Treasury Bills 14.49%
- U.S. Treasury Bills 13.71%
- U.S. Treasury Bills 8.83%
- Goldman Sachs Financial Square Government Fund 8.41%
- U.S. Treasury Bills 7.93%
- U.S. Treasury Bills 5.87%
- U.S. Treasury Bills 5.67%
- U.S. Treasury Bills 3.55%
- U.S. Treasury Bills 3.26%
Asset Allocation
| Weighting | Return Low | Return High | GGRPX % Rank | |
|---|---|---|---|---|
| Cash | 93.06% | 0.00% | 101.92% | 12.60% |
| Stocks | 8.41% | 0.00% | 49.72% | 17.05% |
| Preferred Stocks | 0.00% | 0.00% | 0.08% | 38.58% |
| Convertible Bonds | 0.00% | 0.00% | 3.89% | 56.35% |
| Bonds | 0.00% | 0.00% | 127.91% | 84.50% |
| Other | -1.47% | -7.17% | 100.19% | 74.80% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GGRPX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 27.00% | N/A |
| Technology | 0.00% | 0.00% | 2.77% | N/A |
| Real Estate | 0.00% | 0.00% | 13.82% | N/A |
| Industrials | 0.00% | 0.00% | 23.28% | N/A |
| Healthcare | 0.00% | 0.00% | 1.73% | N/A |
| Financial Services | 0.00% | 0.00% | 13.67% | N/A |
| Energy | 0.00% | 0.00% | 33.64% | N/A |
| Communication Services | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 12.04% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 3.41% | N/A |
| Basic Materials | 0.00% | 0.00% | 47.41% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GGRPX % Rank | |
|---|---|---|---|---|
| US | 8.41% | 0.00% | 32.22% | 17.32% |
| Non US | 0.00% | 0.00% | 28.52% | 42.52% |
GGRPX - Expenses
Operational Fees
| GGRPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.77% | 0.21% | 5.23% | 78.00% |
| Management Fee | 0.50% | 0.00% | 1.75% | 29.75% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.05% | 0.45% | N/A |
Sales Fees
| GGRPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| GGRPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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.
| GGRPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 83.00% | 0.00% | 162.00% | 84.27% |
GGRPX - Distributions
Dividend Yield Analysis
| GGRPX | Category Low | Category High | GGRPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.49% | 0.00% | 19.94% | 22.78% |
Dividend Distribution Analysis
| GGRPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Monthly | Annually |
Net Income Ratio Analysis
| GGRPX | Category Low | Category High | GGRPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.57% | -55.71% | 52.26% | 54.76% |
Capital Gain Distribution Analysis
| GGRPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 27, 2024 | $0.188 | OrdinaryDividend |
| Dec 22, 2023 | $0.184 | OrdinaryDividend |
| Jun 29, 2023 | $0.162 | OrdinaryDividend |
| Dec 23, 2022 | $0.985 | OrdinaryDividend |
| Jun 29, 2022 | $0.023 | OrdinaryDividend |
| Dec 30, 2021 | $1.490 | OrdinaryDividend |
| Jun 29, 2020 | $0.028 | OrdinaryDividend |
| Dec 30, 2019 | $1.029 | OrdinaryDividend |
| Dec 28, 2018 | $0.087 | OrdinaryDividend |
| Jun 28, 2018 | $0.057 | OrdinaryDividend |
GGRPX - Fund Manager Analysis
Managers
Robert Hyman
Start Date
Tenure
Tenure Rank
Jan 27, 2021
1.34
1.3%
Robert B. Hyman is a Senior Vice President for CoreCommodity Management, LLC (“CCM”) and Co-Portfolio Manager and its Cayman Subsidiary. Mr. Hyman re-joined CCM in June 2010. During his 30 plus years successfully trading commodities and commodity related products, Mr. Hyman has held a number of trading and risk control positions, including proprietary trading positions at Lehman Brothers, Amerada Hess Crude & Gas Co., and Drexel Burnham Lambert. Most recently, from April 2007 to Feb 2009, Mr. Hyman was a proprietary trader for First New York Securities, LLC, where he traded commodity futures, time spreads, exchange for physicals, and commodity related equities. From Aug 2009 to May 2010, Mr. Hyman was a proprietary trader at The Gelber Group, focusing on commodity futures, spreads and foreign exchange trading. Mr. Hyman graduated from Dartmouth College in 1978 with a Bachelor of Arts degree in Government. Mr. Hyman has been Portfolio Manager of the CoreCommodity Management CompleteCommodities Strategy Fund and the Cayman Subsidiary since its inception in June 2010 (and Co-Portfolio Manager from May 2012 to July 2015).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 17.03 | 6.11 | 11.51 |
