Fund Evaluator:
Goldman Sachs Dynamic Bond Inv (GZIRX)
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Fund Details
Goldman Sachs Dynamic Bond Inv Overview
Goldman Sachs Dynamic Bond Inv (GZIRX) is an actively managed Taxable Bond Nontraditional Bond fund. Goldman Sachs launched the fund in 2010.
The investment seeks total return comprised of income and capital appreciation. 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 a broadly diversified portfolio of U.S. and foreign investment grade and non‑investment grade bonds and other fixed income investments.
About Goldman Sachs Dynamic Bond Inv (GZIRX)
There are 2 members of the management team with an average tenure of 2.37 years: Simon Dangoor (2024), Lindsay Rosner (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Goldman Sachs Dynamic Bond Inv has 1080 securities in its portfolio. The top 10 holdings constitute 43.7% 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 Dynamic Bond Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Goldman Sachs Dynamic Bond Inv has 77.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.5%. There is 0.0% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.4% (16.1% domestic bond, 77.3% foreign bond and 0.0% convertible bond). Goldman Sachs Dynamic Bond Inv has 6.9% of the portfolio in cash.
Assets Under Management
The fund has $473 million in total assets, which is below the $663 million average for the Nontraditional Bond 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.
GZIRX 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 Dynamic Bond Inv expense ratio is above average compared to funds in the Nontraditional Bond category. Goldman Sachs Dynamic Bond Inv has an expense ratio of 0.77%, which is 46% 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 Dynamic Bond Inv has a portfolio turnover rate of 1898%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 308% for the Nontraditional Bond category.
Recently, in the month of June 2026, Goldman Sachs Dynamic Bond Inv returned 0.9%, which earned it a grade of A, as the Nontraditional Bond category had an average return of 0.2%. 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 Dynamic Bond Inv has a trailing yield of 5.28%, which is above the 4.89% category average. The fund normally distributes its income monthly 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 Dynamic Bond Inv Grades
Year to date, the fund has returned 1.9%, 0.4 percentage points better than the category, which translates into a grade of B. The fund has returned 7.3% over the past year (grade of A), 8.5% over the past three years (grade of A) and 5.0% per year over the past five years (grade of A) and 4.0% per year over the past 10 years (grade of B).
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GZIRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GZIRX Return (NAV) | 0.9% | 3.2% | 7.3% | 8.5% | 5.0% | 4.0% |
| GZIRX Grade | A | A | A | A | A | B |
| +/- Category | 0.7% | 1.5% | 2.5% | 2.5% | 2.4% | 0.7% |
| Nontraditional Bond Avg | 0.2% | 1.7% | 4.9% | 6.0% | 2.5% | 3.3% |
| GZIRX Tax Cost Ratio | na | na | 2.1% | 2.3% | 1.9% | 1.5% |
GZIRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GZIRX Return (NAV) | 1.9% | 9.8% | 6.1% | 11.1% | -3.4% | -1.2% | 9.5% | 6.0% | -2.2% | -0.2% | 2.3% |
| GZIRX Grade | B | A | C | A | B | F | A | C | D | F | F |
| +/- Category | 0.4% | 3.0% | 0.7% | 4.6% | 2.6% | -2.6% | 4.1% | -0.6% | -1.4% | -4.2% | -4.1% |
| Nontraditional Bond Avg | 1.5% | 6.8% | 5.4% | 6.5% | -6.1% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 3.1% |
| Total Risk Index: | 0.25 - Low |
| Category Risk Index: | 0.87 - Average |
| Category Risk Grade: | C (50% Rank) |
| Beta: | 0.34 |
| R-Squared: | 39% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1753 Mil |
| Fund Total Assets: | $ 473 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 1898% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.4 years | |||
| Average Tenure: 2.4 years | |||
| Managers (Year): Dangoor Simon (2024), Rosner Lindsay (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 1080 |
| % in Top 10 Holdings: | 43.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 77.3% |
Portfolio Allocation |
|
| Domestic Stock: | -0.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 16.1% |
| Foreign Bond: | 77.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 6.9% |
Purchase Information
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-526-7384 |
| Website: | www.goldmansachsfunds.com |
| Status: | Open |
| Inception Date: | June 30, 2010 |
| 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 (%): | 1.42% |
| Share Class: | Goldman Sachs Dynamic Bond Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
