Goldman Sachs High Yield Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Goldman Sachs High Yield Fund held 507 positions with $2.57B in net assets. Its ten largest holdings made up 12.1% of the fund. The GSHIX share class costs 0.68% a year. Over the 12 months to May 2026, GSHIX returned 7.0%, with dividends reinvested. In 2026 Q2 it added 77 new positions and exited 150.
The Goldman Sachs High Yield Fund (the "Fund") seeks a high level of current income and may also consider the potential for capital appreciation.
The fund invests at least 80% of assets in non-investment-grade fixed income securities rated BB+ or below, selected through bottom-up fundamental analysis that incorporates macroeconomic conditions, industry and company-specific performance, and ESG factors alongside traditional metrics; it targets a duration range approximating the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index plus or minus 2.5 years. The fund may hold up to 20% in investment-grade securities and up to 25% in non-dollar-denominated obligations. Because individual security selection depends on the manager's assessment of relative value and outlook rather than index replication, the fund's composition and returns will diverge from its benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
GCCXXGoldman Sachs Central Government Fund | 3.01% | $77.16M | 77.2M | $1.00 |
Goldman Sachs Financial Square Government Fund | 1.80% | $46.15M | — | — |
CRC INSURANCE GROUP LLC 7.13% · due 2031-06-01 | 1.35% | $34.70M | — | — |
SV RNO PROPERTY OWNER 1 5.88% · due 2031-03-01 | 0.92% | $23.55M | — | — |
ONESKY FLIGHT LLC 8.88% · due 2029-12-15 | 0.91% | $23.34M | — | — |
PR RNO PROPERTY OWNER 1 6.50% · due 2031-05-01 | 0.88% | $22.52M | — | — |
BLACK PEARL COMPUTE LLC 6.13% · due 2031-02-15 | 0.86% | $22.18M | — | — |
AutoNation Inc | 0.84% | $21.65M | — | — |
CHARTER COMM OPT LLC/CAP 5.75% · due 2048-04-01 | 0.79% | $20.19M | — | — |
VENTURE GLOBAL LNG INC 9.88% · due 2032-02-01 | 0.78% | $20.01M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
The 200 largest of 507 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 | 88.03% |
| Cash & short-term | 4.81% |
| Stocks | 3.52% |
| Loans | 2.73% |
| 2 smaller | 0.60% |
Look-through blends 1 underlying fund; 3.008% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 49.3%
- International
- 14.0%
- Financials
- 7.2%
- Industrials
- 6.3%
- 10 other sectors
- 23.2%
- Other
- 49.3%
- International
- 14.0%
- Financials
- 7.2%
- Industrials
- 6.3%
- Cash
- 4.8%
- Consumer Discretionary
- 4.1%
- Communication Services
- 3.6%
- Information Technology
- 2.7%
- Energy
- 2.4%
- Utilities
- 1.9%
- Health Care
- 1.7%
- Materials
- 1.3%
- Consumer Staples
- 0.7%
- Real Estate
- 0.0%
How it has done
GSHIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.04%. 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 |
|---|---|---|---|---|---|
| 0.68% | +7.03% | +27.25% | +18.06% | -2.44% | |
| 1.18% | +6.49% | +25.59% | +15.28% | -2.34% | |
| 0.98% | +6.72% | +26.36% | +16.33% | -2.31% | |
| 1.73% | +5.92% | +23.56% | +12.26% | -2.61% | |
| 1.23% | +6.45% | +25.43% | +15.06% | -2.36% | |
| 0.73% | +6.96% | +27.27% | +17.77% | -2.27% | |
| 0.67% | +7.04% | +27.76% | +18.38% | -2.25% | |
| 0.67% | +7.05% | +27.50% | +18.31% | -2.44% |
These classes hold the same portfolio, so the 6.12pp spread over 5 years is the cost difference between them — roughly 1.22pp a year — not a difference in what they own.
Fees & fund details
Goldman Sachs High Yield 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
- High yield
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.67% – 1.73%· GSHIX 0.68%
- Portfolio turnover
- 42.00% 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.
77 new· the largest 8
150 exited· the largest 8
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 | 96.7% |
| Floating rate | 3.0% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.5% |
| 1-3y | 22.1% |
| 3-5y | 36.9% |
| 5-10y | 35.3% |
| 10y+ | 3.2% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
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 nearly 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 | 50% |
| Credit spreads | 50% |
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.
| High yield | +2.54 yr |
| Investment grade | +0.45 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 | 1% |
| 1 yr | 0.81 yr | 27% |
| 5 yr | 1.71 yr | 56% |
| 10 yr | 0.37 yr | 12% |
| 30 yr | 0.12 yr | 4% |
| 3 mo | 0.05 yr | 2% |
| 1 yr | 0.80 yr | 27% |
| 5 yr | 1.62 yr | 54% |
| 10 yr | 0.40 yr | 13% |
| 30 yr | 0.11 yr | 4% |
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 | +0.00 | +0.04 | $1.0k | $11.5k |
| 1 yr | +0.81 | +0.06 | +0.74 | $15.9k | $190.3k |
| 5 yr | +1.71 | +0.15 | +1.47 | $38.9k | $377.3k |
| 10 yr | +0.37 | +0.15 | +0.25 | $38.0k | $64.3k |
| 30 yr | +0.12 | +0.08 | +0.03 | $20.8k | $7.1k |
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 3.03 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.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — GSHIX, QQQ and the fund in my 401(k)?”
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