GSMEX — Goldman Sachs Dynamic Municipal Income Fund
Data updated: 2026-06-12
GSMEX — Goldman Sachs Dynamic Municipal Income Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Long Municipal - National Bond · $11.76B AUM · 0.89% expense ratio · 3.3% 1-yr return. From SEC regulatory filings.
GSMEX Fund Overview
GSMEX — Goldman Sachs Dynamic Municipal Income Fund is a US mutual fund managed by Goldman Sachs Trust, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Goldman Sachs Trust
- Category: Long Municipal - National Bond
- Assets under management: $11.76B
- 1-year return: 3.3%
- Ticker: GSMEX
- SEC CIK: 0000822977
- SEC series ID: S000009252
- Share class ID: C000025255
GSMEX Holdings
Top 10 holdings of Goldman Sachs Dynamic Municipal Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Puerto Rico Sales Tax Financing Corp. | 1.07% |
| Goldman Sachs Trust | 0.75% |
| Massachusetts St | 0.57% |
| Arizona Health Facilities Authority (az) | 0.53% |
| Southeast Energy Auth Coop Dist Ala | 0.50% |
| Southeast Ala Gas Supply Dist | 0.45% |
| Chicago Ill Brd Ed | 0.42% |
| Texas Mun Gas Acquisition & Supply Corp. Ii Gas Supply | 0.38% |
| New York St Dorm Auth | 0.35% |
| Puerto Rico Sales Tax Financing Corp. | 0.33% |
GSMEX Portfolio Allocation
Asset-class allocation of Goldman Sachs Dynamic Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.3% |
| Cash & Equivalents | 0.7% |
GSMEX Performance
Total returns for GSMEX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.0% |
| 1 year | 3.3% |
| 3 years (annualised) | 3.3% |
| 5 years (annualised) | 0.9% |
GSMEX Risk Information
Risk metrics for GSMEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.6%
GSMEX Costs and Fees
GSMEX costs about $89 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.89%
- Gross expense ratio: 0.91%
- Portfolio turnover: 27%
- Brokerage commissions: 0.03 bps of average net assets (SEC N-CEN)
GSMEX Cashflows
Over the 12 months to 2026-03, Goldman Sachs Dynamic Municipal Income Fund had net inflows of $600.47M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | $117.13M |
| 2026-02 | −$10.52M |
| 2026-01 | $192.16M |
| 2025-12 | $1.08M |
| 2025-11 | $87.08M |
| 2025-10 | $198.31M |
GSMEX Debt Constituents
Largest debt holdings of Goldman Sachs Dynamic Municipal Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Puerto Rico Sales Tax Financing Corp. | 1.07% |
| Massachusetts St | 0.57% |
| Arizona Health Facilities Authority (az) | 0.53% |
| Southeast Energy Auth Coop Dist Ala | 0.50% |
| Southeast Ala Gas Supply Dist | 0.45% |
| Chicago Ill Brd Ed | 0.42% |
| Texas Mun Gas Acquisition & Supply Corp. Ii Gas Supply | 0.38% |
| New York St Dorm Auth | 0.35% |
| Puerto Rico Sales Tax Financing Corp. | 0.33% |
| Detroit Mich | 0.33% |
GSMEX Prospectus and SEC Filings
Official Goldman Sachs Dynamic Municipal Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.