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Goldman Sachs Community Municipal Bond ETF (GMUN) Sharpe Ratio: 2.04
Delisted

ETF · Currency in USD · Last updated Jun 26, 2026

GMUN is a passive ETF by Goldman Sachs tracking the investment results of the Bloomberg Goldman Sachs Community Municipal Index. GMUN launched on Mar 7, 2023 and has a 0.15% expense ratio.

GMUN's Sharpe Ratio of 2.04 indicates that for each unit of volatility, it generates 2.04 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 26, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

GMUN Sharpe Ratio Market Positioning

The chart shows GMUN's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.86 or lower
  • Yellow zone (middle 50%): 0.86 to 2.11
  • Green zone (top 25%): 2.11 or higher
  • Top 1%: 6.94+
  • Median: 1.56 — half of all investments score higher

How it compares to other similar ETFs

The table compares Goldman Sachs Community Municipal Bond ETF's Sharpe Ratio with other ETFs in the Municipal Bonds category across multiple time periods, showing how GMUN's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 26, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
MYMGState Street My2027 Municipal Bond ETF4.62
MYMFState Street My2026 Municipal Bond ETF3.85
CALIiShares Short-Term California Muni Active ETF3.68
MEARiShares Short Maturity Municipal Bond ETF3.63
SMMUPIMCO Short Term Municipal Bond Active ETF3.60
STAXMacquarie Tax-Free USA Short Term ETF3.52
FUMBFirst Trust Ultra Short Duration Municipal ETF3.44
VSDMVanguard Short Duration Tax-Exempt Bond ETF3.42
CGSMCapital Group Short Duration Municipal Income ETF3.23
TAXET. Rowe Price Intermediate Municipal Income ETF3.18
GMUNGoldman Sachs Community Municipal Bond ETF—

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows GMUN's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when GMUN consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does GMUN fit in your portfolio?

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