GMJPX Fees and Costs — Goldman Sachs Real Estate Securities Fund, Class P
Data updated: 2026-08-26
The net expense ratio is 0.84%: a 0.87% management fee plus 0.46% other expenses, less a 0.49% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $24K in broker commissions, 0.0324% of average net assets, and portfolio turnover was 27%.
GMJPX Fees and Expenses
Annual operating expenses and sales charges of GMJPX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.87% |
| 12b-1 fee | — |
| Other expenses | 0.46% |
| Gross expense ratio | 1.33% |
| Fee waiver | −0.49% |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GMJPX Costs Over Time
On $10,000 invested in GMJPX, assuming 5% a year before costs, total costs come to $547 over 5 years, cutting the return by 0.92% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.84%) | $88 | $276 | $479 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $92 | $300 | $547 |
| Value after costs | $10,408 | $11,276 | $12,216 |
| Impact on return, per year | 0.92% | 0.92% | 0.92% |
GMJPX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0324%
- Total broker commissions: $24K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
GMJPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $4K | 15.68% |
| RBC CAPITAL MARKETS, LLC | $3K | 14.19% |
| MORGAN STANLEY & CO. LLC | $3K | 14.10% |
| J.P. Morgan Securities LLC | $3K | 14.06% |
| JEFFERIES LLC | $3K | 13.13% |
| CitiGroup Global Markets Inc. | $2K | 10.79% |
| BARCLAYS CAPITAL, INC. | $1K | 5.34% |
| WELLS FARGO SECURITIES, LLC | $1K | 4.86% |
| UBS Securities LLC | $880 | 3.92% |
| BMO CAPITAL MARKETS CORP. | $879 | 3.92% |
Goldman Sachs Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GMJPX | Class P | 0.84% | — |
| GREUX | Class R6 | 0.84% | none |
| GREIX | Institutional Class | 0.85% | none |
| GRETX | Investor Shares | 0.96% | none |
| GREAX | Class A | 1.21% | 5.50% |
| GRESX | Service Class | 1.35% | none |
| GRERX | Class R | 1.46% | none |
| GRECX | Class C | 1.96% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.