GNCFX Performance — Goldman Sachs Multi-Manager Non-Core Fixed Income Fund, Class R6
Data updated: 2026-09-22
GNCFX returned +2.36% year to date and +6.38% over one year to Jul 2026. Annualised returns are +7.66% over 3 years and +3.40% over 5 years. The fund beat its Short-Term Core Bond category average: $100 invested three years ago grew to $125, against $118 for the category, and to $106 over one year, against $104. Volatility over the past three years was 4.51% a year. In the 12 months to Jul 2026 the fund took in a net $676.8M, and assets reached $2.26B.
GNCFX Growth of $100
What $100 invested in Goldman Sachs Multi-Manager Non-Core Fixed Income Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Core Bond category average over the same months.
| Period | GNCFX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $106 | $104 |
| 3 years (Aug 2023 – Jul 2026) | $125 | $118 |
| 5 years (Aug 2021 – Jul 2026) | $118 | $113 |
| Since data start (Aug 2019 – Jul 2026) | $131 | $122 |
GNCFX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.36% |
| 1 year | +6.38% |
| 3 years (annualised) | +7.66% |
| 5 years (annualised) | +3.40% |
GNCFX Annual Returns
Calendar-year total returns of Goldman Sachs Multi-Manager Non-Core Fixed Income Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +2.36% |
| 2025 | +11.69% |
| 2024 | +4.58% |
| 2023 | +12.77% |
| 2022 | −11.07% |
| 2021 | +0.43% |
| 2020 | +5.27% |
| 2019 (Aug–Dec) | +3.41% |
GNCFX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.5% | −0.2% | −1.0% | +1.9% | +0.8% | +0.3% | 0.0% | — | — | — | — | — |
| 2025 | +1.4% | +0.6% | +0.1% | +1.1% | +1.7% | +2.4% | 0.0% | +1.6% | +1.0% | +0.3% | +0.3% | +0.7% |
| 2024 | −0.4% | +0.4% | +0.8% | −1.3% | +1.6% | −0.2% | +1.8% | +2.0% | +2.1% | −1.7% | +0.3% | −0.8% |
| 2023 | +3.7% | −1.8% | +1.3% | +1.0% | −0.8% | +2.6% | +1.9% | −0.7% | −1.6% | −0.6% | +4.1% | +3.2% |
| 2022 | −1.3% | −3.1% | −0.3% | −3.9% | −0.7% | −5.3% | +2.3% | −0.4% | −4.6% | +1.3% | +4.2% | +0.5% |
| 2021 | +0.2% | −0.3% | −0.7% | +1.6% | +1.2% | 0.0% | −0.1% | +0.5% | −1.1% | −0.5% | −1.6% | +1.3% |
| 2020 | +0.1% | −1.8% | −12.1% | +3.3% | +4.7% | +1.8% | +3.5% | +1.1% | −1.1% | +0.3% | +4.5% | +2.1% |
| 2019 | — | — | — | — | — | — | — | −0.7% | +0.6% | +1.0% | −0.2% | +2.7% |
GNCFX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 4.51%
- 3-year Sharpe ratio: 0.70 (vs 4.5% risk-free rate)
- Best month: +4.11% (Nov 2023)
- Worst month: −1.70% (Oct 2024)
GNCFX Fund Flows
Monthly money in and out of Goldman Sachs Multi-Manager Non-Core Fixed Income Fund, from SEC Form N-PORT.
- 12-month net flow: $676.8M
- 12-month gross sales (incl. reinvestments): $979.9M
- Sales ÷ redemptions: 3.23×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $33.1M | $6.1M | $27.0M |
| Jun 2026 | $249.9M | $14.3M | $235.6M |
| May 2026 | $28.7M | $6.9M | $21.8M |
| Apr 2026 | $50.5M | $58.2M | −$7.6M |
| Mar 2026 | $55.8M | $26.0M | $29.8M |
| Feb 2026 | $49.9M | $59.7M | −$9.8M |
| Jan 2026 | $13.5M | $3.1M | $10.3M |
| Dec 2025 | $44.2M | $17.2M | $27.0M |
| Nov 2025 | $52.0M | $70.2M | −$18.3M |
| Oct 2025 | $355.9M | $13.7M | $342.2M |
| Sep 2025 | $11.2M | $820K | $10.4M |
| Aug 2025 | $35.2M | $26.8M | $8.4M |
GNCFX Assets Under Management
Net assets of Goldman Sachs Multi-Manager Non-Core Fixed Income Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $2.26B |
| 2026-04-30 | $1.98B |
| 2026-01-31 | $1.99B |
| 2025-10-31 | $1.99B |
| 2025-07-31 | $1.61B |
| 2025-04-30 | $1.52B |
| 2025-01-31 | $1.51B |
| 2024-10-31 | $1.67B |
| 2024-07-31 | $1.71B |
| 2024-04-30 | $1.38B |
| 2024-01-31 | $1.28B |
| 2023-10-31 | $1.10B |
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.