Fund Evaluator:
Gotham Index Plus Institutional (GINDX)
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Fund Details
Gotham Index Plus Institutional Overview
Gotham Index Plus Institutional (GINDX) is an actively managed U.S. Equity Large Blend fund. Gotham launched the fund in 2015.
The investment seeks to outperform the S&P 500® Index over most annual periods. The fund invests in long and short positions of equity and equity-related securities. The Adviser will invest a portion of the assets in securities intended to track the performance of the S&P 500® Index and additional exposure to a long/short portfolio, consisting of long and short positions, generally selected from the largest 500 to 700 U.S. companies by market capitalization. The fund is not a passive index fund, but instead utilizes an enhanced index or "index plus" strategy.
About Gotham Index Plus Institutional (GINDX)
There are 2 members of the management team with an average tenure of 11.34 years: Joel Greenblatt (2015), Robert Goldstein (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Gotham Index Plus Institutional has 501 securities in its portfolio. The top 10 holdings constitute 42.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Gotham Index Plus Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Gotham Index Plus Institutional has 0.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.2%. There is 0.8% 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). Gotham Index Plus Institutional has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion 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.
GINDX 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 Gotham Index Plus Institutional expense ratio is high compared to funds in the Large Blend category. Gotham Index Plus Institutional has an expense ratio of 1.16%, which is 43% 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. Gotham Index Plus Institutional has a portfolio turnover rate of 84%, 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, Gotham Index Plus Institutional returned 5.1%, which earned it a grade of A, 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.
Gotham Index Plus Institutional has a trailing yield of 0.16%, 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.
Gotham Index Plus Institutional Grades
Year to date, the fund has returned 9.7%, 0.4 percentage points better than the category, which translates into a grade of C. The fund has returned 21.9% over the past year (grade of A), 21.5% over the past three years (grade of A) and 15.6% per year over the past five years (grade of A) and 15.5% per year over the past 10 years (grade of A).
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GINDX 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 |
|
| GINDX Return (NAV) | 5.1% | 4.8% | 21.9% | 21.5% | 15.6% | 15.5% |
| GINDX Grade | A | B | A | A | A | A |
| +/- Category | 4.7% | 0.7% | 4.4% | 4.2% | 4.5% | 1.9% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| GINDX Tax Cost Ratio | na | na | 0.8% | 0.9% | 0.9% | 0.6% |
GINDX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GINDX Return (NAV) | 9.7% | 22.3% | 26.0% | 26.4% | -11.6% | 32.8% | 6.8% | 19.4% | -3.5% | 26.1% | 18.0% |
| GINDX Grade | C | A | A | B | A | A | F | F | A | A | A |
| +/- Category | 0.4% | 6.5% | 4.0% | 2.7% | 5.7% | 6.2% | -10.7% | -10.5% | 2.4% | 4.8% | 7.8% |
| 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: | 12.8% |
| Total Risk Index: | 1.05 - Above Average |
| Category Risk Index: | 0.97 - Below Average |
| Category Risk Grade: | B (29% Rank) |
| Beta: | 0.91 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1327 Mil |
| Fund Total Assets: | $1,297 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 84% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 11.3 years | |||
| Managers (Year): Greenblatt Joel (2015), Goldstein Robert (2015) | |||
Portfolio Composition (as of 12/31/25)
| # of Holdings: | 501 |
| % in Top 10 Holdings: | 42.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.8% |
Portfolio Allocation |
|
| Domestic Stock: | 99.2% |
| Foreign Stock: | 0.8% |
| 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: | Gotham |
| Phone Number: | 877-974-6852 |
| Website: | www.gothamfunds.com |
| Status: | Open |
| Inception Date: | March 31, 2015 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.16% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Gotham Index Plus Institutional |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 0 |
