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 | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | GMUB vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 4.00B | Oct 2022 | GMUB vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | GMUB vs FMUN | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 126.55M | Aug 2025 | GMUB vs TAXS | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 163.46M | Aug 2025 | GMUB vs TAXI |
Best Risk-Adjusted Alternatives to GMUB
GMUB has a PortfoliosLab risk / return rank of 83. There are 41 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 My2027 Municipal Bond ETF | 97 | 8.64M | Sep 2024 | GMUB vs MYMG | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 245.94M | Nov 2018 | GMUB vs FUMB | |
| State Street My2026 Municipal Bond ETF | 97 | 8.73M | Sep 2024 | GMUB vs MYMF | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | GMUB vs AUSM | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.41B | Mar 2015 | GMUB vs MEAR |
Top Performing GMUB Alternatives (YTD)
GMUB is at 1.81% YTD. There are 51 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.62%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.62% | 143.84M | Jun 2013 | GMUB vs RVNU | |
| Rareview Tax Advantaged Income ETF | 4.52% | 18.13M | Oct 2020 | GMUB vs RTAI | |
| First Trust Flexible Municipal High Income ETF | 3.99% | 20.73M | Sep 2016 | GMUB vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.96% | 25.42M | Nov 2025 | GMUB vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.88% | 30.60M | Sep 2019 | GMUB vs OVM |
Lowest Volatility Alternatives to GMUB
GMUB has 2.71% 1-year volatility. There are 74 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% | 33.31M | Sep 2025 | GMUB vs ZMUN | |
| iShares Short-Term California Muni Active ETF | 0.71% | 408.07M | Oct 2007 | GMUB vs CALI | |
| State Street My2026 Municipal Bond ETF | 0.71% | 8.73M | Sep 2024 | GMUB vs MYMF | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | GMUB vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.79% | 245.94M | Nov 2018 | GMUB vs FUMB |
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 -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 245.94M | Nov 2018 | GMUB vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 283.20M | Sep 2019 | GMUB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | GMUB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.64M | Sep 2024 | GMUB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 581.67M | 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 GMUN, AMUN, PUSH. These 20 comparison targets span 8 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