AMUN vs. GDMA
AMUN (abrdn Ultra Short Municipal Income Active ETF) and GDMA (Gadsden Dynamic Multi-Asset ETF) are both exchange-traded funds - AMUN is a Municipal Bonds fund actively managed by abrdn, while GDMA is a Global Allocation fund actively managed by Gadsden. Both are actively managed. Their -0.16 correlation means they have often moved in opposite directions in the past. AMUN charges 0.25%/yr vs 0.77%/yr for GDMA.
Performance
AMUN vs. GDMA - Performance Comparison
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Returns By Period
In the year-to-date period, AMUN achieves a 1.55% return, which is significantly lower than GDMA's 10.09% return.
AMUN
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 1.24%
- YTD
- 1.55%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GDMA
- 1D
- -0.22%
- 1M
- 1.43%
- 6M
- 1.75%
- YTD
- 10.09%
- 1Y
- 23.05%
- 3Y*
- 16.10%
- 5Y*
- 8.38%
- 10Y*
- —
- ALL TIME*
- 9.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $20.51K | $41.78K | $66.52K | |
| $1.65M | $939.36K | $704.27K |
AMUN vs. GDMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.55% | 0.14% |
GDMA Gadsden Dynamic Multi-Asset ETF | 10.09% | 2.02% |
Correlation
The correlation between AMUN and GDMA is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025 | -0.16 |
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Return for Risk
AMUN vs. GDMA — Risk / Return Rank
AMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GDMA
AMUN vs. GDMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Active ETF (AMUN) and Gadsden Dynamic Multi-Asset ETF (GDMA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AMUN | GDMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.28 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.07 | — |
| Martin ratioReturn relative to average drawdown | — | 7.10 | — |
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Drawdowns
AMUN vs. GDMA - Drawdown Comparison
The maximum AMUN drawdown since its inception was -0.61%, smaller than the maximum GDMA drawdown of -16.66%. Use the drawdown chart below to compare losses from any high point for AMUN and GDMA.
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Drawdown Indicators
| AMUN | GDMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.61% | -16.66% | +16.05% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.53% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.53% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.74% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.62% | +3.62% |
Average DrawdownAverage peak-to-trough decline | -0.07% | -3.79% | +3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.26% | — |
Volatility
AMUN vs. GDMA - Volatility Comparison
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Volatility by Period
| AMUN | GDMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.32% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.94% | 15.68% | -14.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.94% | 10.24% | -9.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.94% | 11.38% | -10.44% |
AMUN vs. GDMA - Expense Ratio Comparison
AMUN has a 0.25% expense ratio, which is lower than GDMA's 0.77% expense ratio.
Dividends
AMUN vs. GDMA - Dividend Comparison
AMUN's dividend yield for the trailing twelve months is around 2.38%, less than GDMA's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 2.38% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GDMA Gadsden Dynamic Multi-Asset ETF | 2.54% | 2.79% | 2.32% | 4.14% | 1.18% | 2.10% | 0.62% | 3.17% |
Frequently Asked Questions
AMUN and GDMA have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMUN is cheaper with a 0.25% expense ratio, compared with 0.77% for GDMA.
GDMA has the higher dividend yield at 2.54%, compared with 2.38% for AMUN.
AMUN is categorized as Municipal Bonds, while GDMA is Global Allocation. They also come from different issuers: abrdn and Gadsden. Their fees differ too: 0.25% for AMUN and 0.77% for GDMA.
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