Fund Evaluator:
Goldman Sachs Tactical Tilt Overlay P (GSLPX)
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Best Performing in Tactical Allocation Over the Last Year
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Fund Details
Goldman Sachs Tactical Tilt Overlay P Overview
Goldman Sachs Tactical Tilt Overlay P (GSLPX) is an actively managed Allocation Tactical Allocation fund. Goldman Sachs launched the fund in 2018.
The investment seeks long-term total return. The fund seeks to achieve its investment objective through the implementation of investment ideas that are generally derived from short-term or medium-term market views on a variety of asset classes and instruments ("Tactical Tilts") generated by the Goldman Sachs Investment Strategy Group ("Investment Strategy Group"). It may invest in derivatives for both hedging and non-hedging purposes.
About Goldman Sachs Tactical Tilt Overlay P (GSLPX)
There are 2 members of the management team with an average tenure of 9.56 years: Sergey Kraytman (2014), Siwen Wu (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Goldman Sachs Tactical Tilt Overlay P has 244 securities in its portfolio. The top 10 holdings constitute 57.2% 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.
Goldman Sachs Tactical Tilt Overlay P is part of the Allocation global asset class and is within the Allocation fund group. Goldman Sachs Tactical Tilt Overlay P has 1.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.6%. There is 1.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 33.4% (33.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Goldman Sachs Tactical Tilt Overlay P has 50.2% of the portfolio in cash.
Assets Under Management
The fund has $4 billion in total assets, which is above the $222 million average for the Tactical Allocation 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.
GSLPX 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 Tactical Tilt Overlay P expense ratio is above average compared to funds in the Tactical Allocation category. Goldman Sachs Tactical Tilt Overlay P has an expense ratio of 0.77%, which is 56% lower than its category average, making the fund expense ratio grade a A. 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 Tactical Tilt Overlay P has a portfolio turnover rate of 143%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 196% for the Tactical Allocation category.
Recently, in the month of July 2026, Goldman Sachs Tactical Tilt Overlay P returned -0.2%, which earned it a grade of B, as the Tactical Allocation category had an average return of -0.9%. 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 Tactical Tilt Overlay P has a trailing yield of 3.11%, which is above the 2.86% 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 Tactical Tilt Overlay P Grades
Year to date, the fund has returned 1.0%, 7.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 4.9% over the past year (grade of F), 4.7% over the past three years (grade of F) and 3.7% per year over the past five years (grade of D) and 3.7% per year over the past 10 years (grade of F).
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GSLPX 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 |
|
| GSLPX Return (NAV) | -0.2% | 0.4% | 4.9% | 4.7% | 3.7% | 3.7% |
| GSLPX Grade | B | D | F | F | D | F |
| +/- Category | 0.7% | -1.1% | -11.3% | -5.9% | -1.6% | -2.6% |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| GSLPX Tax Cost Ratio | na | na | 1.3% | 1.8% | 1.3% | na |
GSLPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GSLPX Return (NAV) | 1.0% | 6.8% | 2.2% | 6.1% | 0.9% | 8.4% | 5.1% | 4.9% | -2.4% | 0.8% | 3.4% |
| GSLPX Grade | F | F | F | D | A | D | C | F | A | F | D |
| +/- Category | -7.4% | -5.9% | -6.7% | -4.7% | 14.0% | -4.3% | -5.1% | -8.7% | 3.9% | -12.3% | -2.2% |
| Tactical Allocation Avg | 8.4% | 12.7% | 8.9% | 10.8% | -13.1% | 12.7% | 10.2% | 13.5% | -6.2% | 13.2% | 5.6% |
| Risk Measures | |
| Standard Deviation: | 3.0% |
| Total Risk Index: | 0.25 - Low |
| Category Risk Index: | 0.29 - Low |
| Category Risk Grade: | A (2% Rank) |
| Beta: | 0.24 |
| R-Squared: | 58% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 3.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4488 Mil |
| Fund Total Assets: | $4,481 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 143% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.0 years | |||
| Average Tenure: 9.6 years | |||
| Managers (Year): Kraytman Sergey (2014), Wu Siwen (2019) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 244 |
| % in Top 10 Holdings: | 57.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.8% |
Portfolio Allocation |
|
| Domestic Stock: | 5.6% |
| Foreign Stock: | 1.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 33.4% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 9.0% |
| Cash: | 50.2% |
Purchase Information
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-621-2550 |
| Website: | www.goldmansachsfunds.com |
| Status: | Open |
| Inception Date: | April 17, 2018 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | Goldman Sachs Tactical Tilt OverlayInstl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
