Goldman Sachs Municipal Income ETF (GMUB) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with GMUB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to GMUB
GMUB charges 0.18% annually. There are 23 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | GMUB vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | GMUB vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | GMUB vs FMUN | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | GMUB vs TAXT | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 130.20M | Aug 2025 | GMUB vs TAXS |
Best Risk-Adjusted Alternatives to GMUB
GMUB has a PortfoliosLab risk / return rank of 70. There are 35 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | GMUB vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | GMUB vs MYMG | |
| Allspring Ultra Short Municipal ETF | 96 | 30.06M | Jul 2025 | GMUB vs AUSM | |
| Goldman Sachs Ultra Short Municipal Income ETF | 96 | 54.13M | Jul 2024 | GMUB vs GUMI | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.36B | Mar 2015 | GMUB vs MEAR |
Top Performing GMUB Alternatives (YTD)
GMUB is at 0.92% YTD. There are 59 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 2.90%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 2.90% | 4.54M | May 2023 | GMUB vs ZTAX | |
| Overlay Shares Municipal Bond ETF | 2.46% | 30.60M | Sep 2019 | GMUB vs OVM | |
| NYLI MacKay Muni Allocation ETF | 2.45% | 28.01M | Dec 2025 | GMUB vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.42% | 142.95M | Jun 2013 | GMUB vs RVNU | |
| T. Rowe Price High Income Municipal ETF | 2.17% | 26.19M | Nov 2025 | GMUB vs THYM |
Lowest Volatility Alternatives to GMUB
GMUB has 2.67% 1-year volatility. There are 65 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | GMUB vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.65% | 8.74M | Sep 2024 | GMUB vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | GMUB vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | GMUB vs AUSM | |
| State Street My2027 Municipal Bond ETF | 0.82% | 8.63M | Sep 2024 | GMUB vs MYMG |
Lowest Drawdown Alternatives to GMUB
GMUB has a 1-year max drawdown of -2.29%. There are 41 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.23%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.23% | 246.47M | Nov 2018 | GMUB vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | GMUB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | GMUB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | GMUB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | GMUB vs IBMO |
Other ETFs from Goldman Sachs
The 10 most viewed Goldman Sachs ETFs shown here include GPIQ, GPIX, AAAU and span 13 categories. AUM among these funds goes as high as $15B.
Often Compared With GMUB
Investors most often compare GMUB with AMUN, PUSH, RTAI. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare GMUB with Any Fund or Stock
Compare GMUB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair GMUB with funds that move differently
Goldman Sachs Municipal Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to GMUB.
Explore GMUB Diversifiers