Goldman Sachs Converts Mutual Funds to Active Fixed Income ETFs

Goldman Sachs Asset Management (GSAM) has converted two of its fixed income mutual funds to exchange-traded funds (ETFs). The Goldman Sachs Bond Fund and Goldman Sachs Income Fund are now the Goldman Sachs Core Plus Bond ETF (GCPB) and the Goldman Sachs Income ETF (GINC), respectively. This move brings GSAM's total roster of active fixed income ETFs to 16 globally.

The new ETFs retain substantially similar strategies to their mutual fund counterparts, with GINC aiming to provide an attractive risk-return profile through actively investing in high-yield, investment-grade, and emerging market debt. GCPB, on the other hand, seeks to invest across global fixed income markets, pursuing high income while balancing bottom-up fundamental research with top-down sector positioning.

The two ETFs charge 40 basis points (bps), down from 55 and 46 bps for their mutual fund versions. GSAM's fixed income ETF slate now totals 19 active funds globally, led by the ACCESS TREASURY 0-1 YEAR ETF (GBIL A) with $7.5 billion in assets under management (AUM). The Goldman Sachs Ultra Short Bond ETF (GSST) holds about $1.6 billion in AUM and asks a 16-bps fee.