Goldman Sachs Core Fixed Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Goldman Sachs Core Fixed Income Fund held 911 positions with $2.64B in net assets. Its ten largest holdings made up 22.1% of the fund. The GSFIX share class costs 0.38% a year. Over the 12 months to May 2026, GSFIX returned 5.4%, with dividends reinvested. In 2026 Q2 it added 163 new positions and exited 123.
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.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury 4.63% · due 2029-04-30 | 3.89% | $102.83M | — |
United States Treasury 4.25% · due 2040-11-15 | 2.72% | $71.87M | — |
United States Treasury 3.75% · due 2027-04-30 | 2.63% | $69.55M | — |
United States Treasury 4.38% · due 2026-08-15 | 2.25% | $59.53M | — |
UMBS, TBA 5.50% · due 2056-07-01 | 2.09% | $55.18M | — |
UMBS, TBA 6.00% · due 2056-07-01 | 2.09% | $55.16M | — |
Government National Mortgage Association 6.00% · due 2056-08-20 | 1.74% | $45.83M | — |
Government National Mortgage Association 5.50% · due 2056-07-20 | 1.71% | $45.22M | — |
UMBS, TBA 4.50% · due 2039-07-01 | 1.53% | $40.51M | — |
United States Treasury 3.00% · due 2047-02-15 | 1.44% | $38.03M | — |
The 200 largest of 911 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| 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.
By sector
- Securitized
- 49.9%
- Government
- 23.3%
- Other
- 7.4%
- Financials
- 5.4%
- 12 other sectors
- 13.9%
- Securitized
- 49.9%
- Government
- 23.3%
- Other
- 7.4%
- Financials
- 5.4%
- Cash
- 2.6%
- Information Technology
- 2.4%
- International
- 2.0%
- Industrials
- 1.6%
- Communication Services
- 1.5%
- Health Care
- 1.5%
- Consumer Discretionary
- 1.0%
- Consumer Staples
- 0.6%
- Energy
- 0.4%
- Utilities
- 0.1%
- Real Estate
- 0.1%
- Materials
- 0.0%
How it has done
GSFIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.46%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.38% | +5.44% | +13.07% | +1.00% | -5.35% | |
| 0.88% | +5.03% | +11.51% | -1.46% | -5.53% | |
| 0.71% | +5.11% | +12.01% | -0.65% | -5.50% | |
| 1.46% | +4.30% | +9.48% | -4.26% | -5.77% | |
| 0.96% | +4.94% | +11.25% | -1.80% | -5.49% | |
| 0.46% | +5.36% | +12.84% | +0.60% | -5.40% | |
| 0.37% | +5.44% | +13.12% | +1.11% | -5.34% | |
| 0.37% | +5.56% | +13.23% | +1.12% | -5.34% |
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.
Fees & fund details
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
- Expense ratio, by class
- 0.37% – 1.46%· GSFIX 0.38%
- Portfolio turnover
- 935.00% a year · as of 2025 Q3
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
163 new· the largest 2
123 exited· the largest 3
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.
Understand how this fund fits with the rest.
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