Goldman Sachs Core Fixed Income Fund
GOLDMAN SACHS TRUST · 8 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Goldman Sachs Core Fixed Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
The Goldman Sachs Core Fixed Income Fund (the Fund) seeks a total return consisting of capital appreciation and income.
The fund invests at least 80% of assets in investment-grade fixed income securities, including U.S. government and agency mortgage-backed securities, corporate debt, municipal bonds, and asset-backed securities, with a target duration approximating the Bloomberg U.S. Aggregate Bond Index plus or minus one year. The fund may also use derivatives, short positions, and forward currency transactions to hedge risks, manage duration, or gain exposure to fixed income securities. Non-U.S. dollar exposure is capped at 25% of total assets, with emerging market debt limited to 10%. Because the fund's holdings and positioning depend on the Investment Adviser's fundamental analysis and views on valuations and mispricings, performance may diverge from the Index.
| Share class | Gross | Net |
|---|---|---|
| GSFIX | 0.46% | 0.38% |
| GSCSX | 0.96% | 0.88% |
| GCFIX | 0.79% | 0.71% |
| GCFCX | 1.54% | 1.46% |
| GDFRX | 1.04% | 0.96% |
| GDFTX | 0.54% | 0.46% |
| GCFUX | 0.45% | 0.37% |
| GAKPX | 0.45% | 0.37% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 935.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 54.88% |
| Securitized | 49.72% |
| Cash & short-term | 3.03% |
| Derivatives | 0.51% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 49.9% |
| Government | 23.3% |
| Financials | 6.7% |
| Other | 6.2% |
| 12 smaller | 13.9% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UMBS, TBA ×4, Government National Mortgage Association ×4
Largest exited: Government National Mortgage Association ×4, UMBS, TBA ×3, United States Treasury
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.41% | +11.45% | +0.99% | 3.63% | -6.38% | |
| +3.89% | +9.78% | -1.49% | 3.66% | -6.60% | |
| +4.07% | +10.39% | -0.57% | 3.69% | -6.56% | |
| +3.28% | +7.90% | -4.27% | 3.67% | -6.88% | |
| +3.80% | +9.66% | -1.81% | 3.66% | -6.57% | |
| +4.32% | +11.32% | +0.68% | 3.69% | -6.34% | |
| +4.43% | +11.50% | +1.10% | 3.67% | -6.37% | |
| +4.54% | +11.61% | +1.11% | 3.60% | -6.37% |
These classes hold the same portfolio, so the 5.39pp spread over 5 years is the cost difference between them — roughly 1.08pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 80.2% |
| Floating rate | 18.4% |
| Zero-coupon or unclassified | 1.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 7.8% |
| 1-3y | 7.2% |
| 3-5y | 8.7% |
| 5-10y | 17.3% |
| 10y+ | 59.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 68% |
| Credit spreads | 32% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.35 yr |
| High yield | +0.56 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.03 yr | 0% |
| 1 yr | 0.57 yr | 9% |
| 5 yr | 1.72 yr | 28% |
| 10 yr | 2.50 yr | 41% |
| 30 yr | 1.28 yr | 21% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.34 yr | 12% |
| 5 yr | 1.59 yr | 55% |
| 10 yr | 0.84 yr | 29% |
| 30 yr | 0.13 yr | 5% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.01 | +0.00 | $2.5k | $154 |
| 1 yr | +0.57 | +0.23 | +0.11 | $61.4k | $29.0k |
| 5 yr | +1.72 | +1.20 | +0.39 | $317.2k | $103.4k |
| 10 yr | +2.50 | +0.81 | +0.04 | $212.6k | $9.6k |
| 30 yr | +1.28 | +0.11 | +0.03 | $28.0k | $7.0k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 6.09 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury4.63% · due 2029-04-30 | 3.89% | $102.83M | — |
| — | United States Treasury4.25% · due 2040-11-15 | 2.72% | $71.87M | — |
| — | United States Treasury3.75% · due 2027-04-30 | 2.63% | $69.55M | — |
| — | United States Treasury4.38% · due 2026-08-15 | 2.25% | $59.53M | — |
| — | UMBS, TBA5.50% · due 2056-07-01 | 2.09% | $55.18M | — |
| — | UMBS, TBA6.00% · due 2056-07-01 | 2.09% | $55.16M | — |
| — | Government National Mortgage Association6.00% · due 2056-08-20 | 1.74% | $45.83M | — |
| — | Government National Mortgage Association5.50% · due 2056-07-20 | 1.71% | $45.22M | — |
| — | UMBS, TBA4.50% · due 2039-07-01 | 1.53% | $40.51M | — |
| — | United States Treasury3.00% · due 2047-02-15 | 1.44% | $38.03M | — |
Top 10 positions are 22.10% of net assets, top 25 37.81%, across 307 issuers.
See more of this fund's book
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