# Goldman Sachs Managed Futures Strategy Fund (GMSAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/gmsax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Goldman Sachs · Asset class: Bond - Strategy: Thematic · Inception: 2012-02-29 The fund employs a systematic trend-following methodology, allowing it to establish both long and short exposures across a diverse array of asset classes, including equities, fixed income, commodities, and currencies. Its primary goal is to generate consistent, positive absolute returns over the long term. To achieve this objective, the portfolio predominantly allocates capital to a comprehensive range of financial instruments, such as individual equities, equity index futures, bonds, bond futures, equity swaps, interest rate swaps, currency forwards, non-deliverable forwards, options, Exch... ## Key Facts | Metric | Value | |---|---| | Price | $9.98 | | Expense Ratio | 1.16% | | Assets Under Management | $202.2M | | NAV | $9.98 | | Holdings Count | — | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | Special | | 52-Week Range | $8.73 – $10.40 | | Beta | 0.20 | ## Latest Distribution - Amount: $1.1415 /share - Ex-date: 2022-12-20 - Pay date: 2022-12-21 ## Frequently Asked Questions ### What does GMSAX invest in? The fund employs a systematic trend-following methodology, allowing it to establish both long and short exposures across a diverse array of asset classes, including equities, fixed income, commodities, and currencies. Its primary goal is to generate consistent, positive absolute returns over the long term. To achieve this objective, the portfolio predominantly allocates capital to a comprehensive range of financial instruments, such as individual equities, equity index futures, bonds, bond futures, equity swaps, interest rate swaps, currency forwards, non-deliverable forwards, options, Exchange Traded Funds (ETFs), and structured securities. ### What is the expense ratio of GMSAX? Goldman Sachs Managed Futures Strategy Fund (GMSAX) charges an expense ratio of 1.16%. This is the annual fee deducted from fund assets to cover management and operations. ### What is the duration of GMSAX? Effective duration measures GMSAX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. GMSAX's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of GMSAX? GMSAX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of GMSAX? Yield to maturity (YTM) is the total return you'd earn from GMSAX if every bond in the portfolio is held to maturity at the current price. GMSAX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### How big is GMSAX? Goldman Sachs Managed Futures Strategy Fund (GMSAX) manages $202.2M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Does GMSAX pay a dividend? Goldman Sachs Managed Futures Strategy Fund (GMSAX) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does GMSAX pay dividends? Goldman Sachs Managed Futures Strategy Fund pays dividends Special. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is GMSAX's dividend yield? GMSAX's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is GMSAX's next ex-dividend date? The most recently announced ex-dividend date for GMSAX was 2022-12-20. The next ex-date typically follows Special; once announced it appears at the top of the dividend history table on this page. ### How much will GMSAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.16% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does GMSAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from GMSAX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does GMSAX cost more than a fund like VOO? GMSAX's strategy (current expense ratio 1.16%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where GMSAX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to GMSAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as GMSAX (1.16%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/gmsax - Distribution history: https://www.dividenddata.com/funds/gmsax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/gmsax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/gmsax/expenses - Peer comparison: https://www.dividenddata.com/funds/gmsax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.