GTMTX Fees and Costs — Goldman Sachs Small/Mid Cap Growth Fund, Investor Shares
Data updated: 2026-07-24
The net expense ratio is 1.00%: a 0.85% management fee plus 0.19% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.0718% of average net assets, and portfolio turnover was 105%.
GTMTX Fees and Expenses
Annual operating expenses and sales charges of GTMTX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.19% |
| Gross expense ratio | 1.04% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.00% |
| 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 |
GTMTX Costs Over Time
On $10,000 invested in GTMTX, assuming 5% a year before costs, total costs come to $669 over 5 years, cutting the return by 1.13% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $113 | $368 | $669 |
| Value after costs | $10,387 | $11,208 | $12,093 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
GTMTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0718%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $14.2M
- Portfolio turnover (prospectus): 105%
- Securities on loan, average value: $5.0M
- Net income from securities lending: $74K (0.005% of average net assets)
GTMTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $178K | 18.10% |
| J.P. MORGAN SECURITIES LLC | $159K | 16.25% |
| JEFFERIES LLC | $159K | 16.17% |
| CITIGROUP GLOBAL MARKETS INC. | $100K | 10.22% |
| UBS Securities LLC | $100K | 10.21% |
| BOFA SECURITIES, INC. | $99K | 10.08% |
| LIQUIDNET, INC. | $60K | 6.16% |
| Robert W. Baird & Co. Incorporated | $50K | 5.06% |
| RBC CAPITAL MARKETS, LLC | $45K | 4.59% |
| WELLS FARGO SECURITIES, LLC | $31K | 3.17% |
GTMTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $8.1M | 56.66% |
| J.P. Morgan Securities LLC | $4.7M | 32.69% |
| BOFA SECURITIES, INC. | $1.5M | 10.65% |
Goldman Sachs Small/Mid Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GSWPX | Class P | 0.92% | — |
| GTMUX | Class R6 | 0.92% | none |
| GSMYX | Institutional Class | 0.93% | none |
| GTMTX | Investor Shares | 1.00% | none |
| GSMAX | Class A | 1.25% | 5.50% |
| GSMQX | Service Class | 1.43% | none |
| GTMRX | Class R | 1.50% | none |
| GSMGX | Class C | 2.00% | 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.