GSZIX Fees and Costs — Goldman Sachs Dynamic Bond Fund, Institutional Shares
Data updated: 2026-08-26
The net expense ratio is 0.69% (0.79% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $587K in broker commissions, 0.0461% of average net assets, and portfolio turnover was 1898%.
GSZIX Fees and Expenses
Annual operating expenses and sales charges of GSZIX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.79% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GSZIX Costs Over Time
On $10,000 invested in GSZIX, assuming 5% a year before costs, total costs come to $463 over 5 years, cutting the return by 0.77% 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 0.69%) | $72 | $227 | $394 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $254 | $463 |
| Value after costs | $10,423 | $11,322 | $12,300 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
GSZIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0461%
- Total broker commissions: $587K
- Bought from dealers (principal trades, not a cost): $171.1B
- Portfolio turnover (prospectus): 1898%
- Securities lending: none during the year
GSZIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $354K | 60.47% |
| J.P. Morgan Securities PLC | $89K | 15.23% |
| Morgan Stanley & Co. LLC | $53K | 9.01% |
| Barclays Capital Inc. | $42K | 7.17% |
| BofA Securities, Inc. | $18K | 3.09% |
| Barclays Bank PLC | $14K | 2.45% |
| Deutsche Bank Aktiengesellschaft | $8K | 1.35% |
| Merrill Lynch International | $5K | 0.90% |
| RBC Europe Limited | $1K | 0.19% |
| Citigroup Global Markets Limited | $893 | 0.15% |
GSZIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. International PLC | $27.8B | 21.83% |
| JPMorgan Chase Bank, National Association | $16.9B | 13.23% |
| Barclays Bank PLC | $15.7B | 12.31% |
| BNP Paribas | $14.3B | 11.22% |
| Merrill Lynch International | $13.0B | 10.19% |
| Deutsche Bank Aktiengesellschaft | $12.2B | 9.55% |
| Morgan Stanley & Co. LLC | $8.9B | 6.97% |
| BofA Securities, Inc. | $7.0B | 5.47% |
| J.P. Morgan Securities LLC | $6.1B | 4.79% |
| Citibank, National Association | $5.7B | 4.43% |
Goldman Sachs Dynamic Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GSOPX | Class P | 0.68% | — |
| GSZUX | Class R6 | 0.68% | none |
| GSZIX | Institutional Shares | 0.69% | none |
| GZIRX | Investor Shares | 0.77% | none |
| GSZAX | Class A | 1.02% | 3.75% |
| GSZRX | Class R | 1.27% | none |
| GSZCX | Class C | 1.77% | 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.