Fund Evaluator:

Goldman Sachs High Yield Muni Inv Overview

Goldman Sachs High Yield Muni Inv (GYIRX) is an actively managed Municipal Bond High Yield Muni fund. Goldman Sachs launched the fund in 2010.

The investment seeks a high level of current income that is exempt from regular federal income tax and may also consider the potential for capital appreciation. The fund invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in fixed income securities issued by or on behalf of states, territories and possessions of the United States and the political subdivisions, agencies and instrumentalities thereof, the interest on which is exempt from regular federal income tax.

About Goldman Sachs High Yield Muni Inv (GYIRX)

There are 3 members of the management team with an average tenure of 11.91 years: Joseph Wenzel (2019), Sylvia Yeh (2021), Scott Diamond (2002). Management tenure is more important for actively managed funds than passive index funds.

The fund has 3 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100%, Bloomberg HY Muni TR USD index with a weighting of 60% and Bloomberg Municipal TR USD index with a weighting of 40%. Goldman Sachs High Yield Muni Inv has 3580 securities in its portfolio. The top 10 holdings constitute 7.9% 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.

Goldman Sachs High Yield Muni Inv is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Goldman Sachs High Yield Muni Inv has 9.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.8% (90.4% domestic bond, 9.4% foreign bond and 0.0% convertible bond). Goldman Sachs High Yield Muni Inv has 0.2% of the portfolio in cash.

Assets Under Management

The fund has $823 million in total assets, which is above the $816 million average for the High Yield Muni 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.

GYIRX 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 High Yield Muni Inv expense ratio is average compared to funds in the High Yield Muni category. Goldman Sachs High Yield Muni Inv has an expense ratio of 0.59%, which is 40% lower than its category average, making the fund expense ratio grade a B. 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 High Yield Muni Inv has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the High Yield Muni category.

Recently, in the month of June 2026, Goldman Sachs High Yield Muni Inv returned 1.3%, which earned it a grade of B, as the High Yield Muni category had an average return of 1.2%. 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 High Yield Muni Inv has a trailing yield of 4.52%, which is above the 4.36% category average. The fund normally distributes its income monthly.

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 High Yield Muni Inv Grades

Year to date, the fund has returned 3.6%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 7.6% over the past year (grade of C), 5.1% over the past three years (grade of C) and 1.0% per year over the past five years (grade of C) and 3.5% per year over the past 10 years (grade of A).

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