Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX)

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The chart shows the growth of an initial investment of $10,000 in Goldman Sachs High Yield Municipal Fund Institutional Class, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) has returned -0.69% so far this year and 2.17% over the past 12 months. Over the last ten years, GHYIX has returned 3.64% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 2001, GHYIX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, your investment would double in approximately 15.2 years.

Historically, 69% of months were positive and 31% were negative. The best month was Sep 2009 with a return of +9.4%, while the worst month was Oct 2008 at -11.5%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 4 months.

On a daily basis, GHYIX closed higher 37% of trading days. The best single day was Mar 25, 2020 with a return of +4.3%, while the worst single day was Mar 19, 2020 at -4.7%.

Goldman Sachs High Yield Municipal Fund Institutional Class has an annualized alpha of 4.48%, beta of 0.00, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 03, 2001.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (20.45%) than losses (9.32%) — typical of diversified or defensive assets.
• Beta of 0.00 may look defensive, but with R² of 0.00 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.00 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

GHYIX has an expense ratio of 0.54%, placing it in the medium range.

GHYIX ranks 17 for risk / return — in the bottom 17% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Goldman Sachs High Yield Municipal Fund Institutional Class (GHYIX) and compare them to a chosen benchmark (S&P 500 Index).

Goldman Sachs High Yield Municipal Fund Institutional Class provided a 4.71% dividend yield over the last twelve months, with an annual payout of $0.42 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Goldman Sachs High Yield Municipal Fund Institutional Class. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Goldman Sachs High Yield Municipal Fund Institutional Class. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Goldman Sachs High Yield Municipal Fund Institutional Class was 35.88%, occurring on Dec 29, 2008. Recovery took 778 trading sessions.

The current Goldman Sachs High Yield Municipal Fund Institutional Class drawdown is 2.83%.

The chart below shows the rolling one-month volatility.