GRASX Fees and Costs — Goldman Sachs Multi-Manager Real Assets Strategy Fund, Class R6
Data updated: 2026-09-22
The net expense ratio is 0.90%: a 1.00% management fee plus 0.16% other expenses, less a 0.26% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.1231% of average net assets, and portfolio turnover was 91%.
GRASX Fees and Expenses
Annual operating expenses and sales charges of GRASX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.26% |
| Net expense ratio | 0.90% |
| 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 |
GRASX Costs Over Time
On $10,000 invested in GRASX, assuming 5% a year before costs, total costs come to $640 over 5 years, cutting the return by 1.07% 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 0.90%) | $94 | $295 | $511 |
| Trading costs (broker commissions) | $13 | $40 | $70 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $352 | $640 |
| Value after costs | $10,393 | $11,225 | $12,123 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
GRASX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1231%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $15.3M
- Portfolio turnover (prospectus): 91%
- Securities lending: none during the year
GRASX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $164K | 21.55% |
| J.P. Morgan Securities LLC | $133K | 17.52% |
| Citigroup Global Markets Inc. | $104K | 13.64% |
| Morgan Stanley & Co. LLC | $84K | 11.12% |
| UBS Securities LLC | $75K | 9.93% |
| RBC Capital Markets, LLC | $44K | 5.84% |
| Jefferies LLC | $44K | 5.83% |
| BNP Paribas Securities Corp. | $42K | 5.57% |
| National Financial Services LLC | $35K | 4.58% |
| TD Securities (USA) LLC | $34K | 4.42% |
GRASX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $4.3M | 28.12% |
| Wells Fargo Securities, LLC | $4.0M | 26.26% |
| RBC Capital Markets, LLC | $2.8M | 18.33% |
| J.P. Morgan Securities LLC | $1.4M | 8.96% |
| Nomura Securities International, Inc. | $1.3M | 8.70% |
| Morgan Stanley & Co. LLC | $1.1M | 7.38% |
| Carnegie, Inc. | $173K | 1.14% |
| Van Lanschot Kempen (USA) Inc. | $171K | 1.13% |
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.