Fund Evaluator:
Goldman Sachs US Tax-Managed Eq A (GCTAX)
Follow This Fund
Best Performing in Large Blend Over the Last Year
| 49.8% | PRIMECAP Odyssey Growth (POGRX) |
| 48.6% | Vanguard PRIMECAP Core Inv (VPCCX) |
| 45.8% | Vanguard PRIMECAP Adm (VPMAX) |
| 45.7% | Vanguard PRIMECAP Inv (VPMCX) |
| 42.3% | Midas Special Opportunities (MISEX) |
Fund Details
Goldman Sachs US Tax-Managed Eq A Overview
Goldman Sachs US Tax-Managed Eq A (GCTAX) is an actively managed U.S. Equity Large Blend fund. Goldman Sachs launched the fund in 2000.
The investment seeks to provide long-term after-tax growth of capital through tax-sensitive participation in a broadly diversified portfolio of U.S. equity securities. 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 equity investments in U.S. issuers. The fund advisor seeks broad representation of large-cap, mid-cap and small-cap equity investments representing all major sectors of the U.S. economy. The fund is non-diversified.
About Goldman Sachs US Tax-Managed Eq A (GCTAX)
There are 5 members of the management team with an average tenure of 8.92 years: Len Ioffe (2021), Monali Vora (2010), Osman Ali (2014), Dennis Walsh (2021), John Sienkiewicz (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Russell 3000 TR USD index with a weighting of 100%. Goldman Sachs US Tax-Managed Eq A has 232 securities in its portfolio. The top 10 holdings constitute 34.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Goldman Sachs US Tax-Managed Eq A is part of the Equity global asset class and is within the U.S. Equity fund group. Goldman Sachs US Tax-Managed Eq A has 2.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.8%. There is 2.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Goldman Sachs US Tax-Managed Eq A has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $121 million in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GCTAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goldman Sachs US Tax-Managed Eq A expense ratio is high compared to funds in the Large Blend category. Goldman Sachs US Tax-Managed Eq A has an expense ratio of 1.01%, which is 24% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Goldman Sachs US Tax-Managed Eq A has a portfolio turnover rate of 188%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, Goldman Sachs US Tax-Managed Eq A returned -0.4%, which earned it a grade of D, as the Large Blend category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Goldman Sachs US Tax-Managed Eq A has a trailing yield of 0.22%, which is below the 0.56% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Goldman Sachs US Tax-Managed Eq A Grades
Year to date, the fund has returned 7.9%, 1.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 17.5% over the past year (grade of C), 17.5% over the past three years (grade of C) and 10.6% per year over the past five years (grade of D) and 12.8% per year over the past 10 years (grade of D).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Goldman Sachs US Tax-Managed Eq A, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
GCTAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GCTAX Return (NAV) | -0.4% | 3.6% | 17.5% | 17.5% | 10.6% | 12.8% |
| GCTAX Grade | D | D | C | C | D | D |
| +/- Category | -0.8% | -0.5% | 0.0% | 0.1% | -0.5% | -0.8% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| GCTAX Tax Cost Ratio | na | na | 0.1% | 0.2% | 0.2% | 0.2% |
GCTAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GCTAX Return (NAV) | 7.9% | 15.0% | 25.6% | 23.4% | -20.5% | 28.8% | 17.1% | 25.5% | -8.1% | 19.9% | 9.1% |
| GCTAX Grade | D | D | A | D | F | A | C | F | F | D | D |
| +/- Category | -1.4% | -0.8% | 3.5% | -0.3% | -3.2% | 2.3% | -0.4% | -4.4% | -2.3% | -1.4% | -1.1% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.5% |
| Total Risk Index: | 1.10 - Above Average |
| Category Risk Index: | 1.02 - Above Average |
| Category Risk Grade: | D (73% Rank) |
| Beta: | 1.02 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4760 Mil |
| Fund Total Assets: | $ 121 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 188% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 15.6 years | |||
| Average Tenure: 8.9 years | |||
| Managers (Year): Vora Monali (2010), Ali Osman (2014), Sienkiewicz John (2020), Ioffe Len (2021), Walsh Dennis (2021) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 232 |
| % in Top 10 Holdings: | 34.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.1% |
Portfolio Allocation |
|
| Domestic Stock: | 97.8% |
| Foreign Stock: | 2.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-526-7384 |
| Website: | www.goldmansachsfunds.com |
| Status: | Open |
| Inception Date: | April 3, 2000 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Goldman Sachs US Tax-Managed Eq Instl |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
