Summary

• Goldman Sachs Enhanced Income Fund slightly outperformed the benchmark on a gross basis and underperformed on a net basis over the first quarter of 2026.
• Goldman Sachs Short Duration Bond Fund underperformed the benchmark over the first quarter of 2026 on a gross and net basis.
• Goldman Sachs Short Duration Government Fund underperformed the benchmark over the first quarter of 2026 on a gross and net basis.

Market Overview

Treasury yields rose overall in the quarter. Growing inflation concerns stemming from the outbreak of conflict in Iran pushed rates higher later in the month, overcoming dovish sentiment earlier in the period based on