BSMZ vs. GUMI

Last updated Jun 4, 2026

BSMZ (Invesco BulletShares 2035 Municipal Bond ETF) and GUMI (Goldman Sachs Ultra Short Municipal Income ETF) are both Municipal Bonds funds. BSMZ is passively managed, while GUMI is actively managed. At a 0.22 correlation, their price movements are largely independent. BSMZ charges 0.18%/yr vs 0.16%/yr for GUMI.

Performance

BSMZ vs. GUMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSMZ achieves a 1.78% return, which is significantly higher than GUMI's 1.06% return.

BSMZ

• 1D: 0.20%
• 1M: 0.85%
• YTD: 1.78%
• 6M: 2.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GUMI

• 1D: -0.04%
• 1M: 0.23%
• YTD: 1.06%
• 6M: 1.20%
• 1Y: 3.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSMZ vs. GUMI - Yearly Performance Comparison

	2026 (YTD)	2025
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	1.78%	1.82%
GUMI Goldman Sachs Ultra Short Municipal Income ETF	1.06%	0.78%

Correlation

The correlation between BSMZ and GUMI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.22

Return for Risk

BSMZ vs. GUMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GUMI

GUMI Risk / Return Rank: 93
GUMI Sharpe Ratio Rank: 87
GUMI Sortino Ratio Rank: 93
GUMI Omega Ratio Rank: 93
GUMI Calmar Ratio Rank: 96
GUMI Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSMZ vs. GUMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2035 Municipal Bond ETF (BSMZ) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BSMZ	GUMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	3.29	-1.91

Drawdowns

BSMZ vs. GUMI - Drawdown Comparison

The maximum BSMZ drawdown since its inception was -3.26%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for BSMZ and GUMI.

Drawdown Indicators

	BSMZ	GUMI	Difference
Max Drawdown Largest peak-to-trough decline	-3.26%	-0.48%	-2.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.36%	—
Current Drawdown Current decline from peak	-0.39%	-0.04%	-0.35%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.05%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.08%	—

Volatility

Volatility by Period

	BSMZ	GUMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	1.09%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	0.99%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	0.99%	+2.77%

BSMZ vs. GUMI - Expense Ratio Comparison

BSMZ has a 0.18% expense ratio, which is higher than GUMI's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BSMZ vs. GUMI - Dividend Comparison

BSMZ's dividend yield for the trailing twelve months is around 2.02%, less than GUMI's 2.77% yield.

Position	TTM	2025	2024
BSMZ Invesco BulletShares 2035 Municipal Bond ETF	2.02%	0.68%	0.00%
GUMI Goldman Sachs Ultra Short Municipal Income ETF	2.77%	2.95%	1.37%

Frequently Asked Questions

Can I hold both BSMZ and GUMI in my portfolio?

BSMZ and GUMI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSMZ or GUMI?

On fees, GUMI is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSMZ or GUMI?

GUMI is cheaper with a 0.16% expense ratio, compared with 0.18% for BSMZ.

Which ETF pays a higher dividend yield, BSMZ or GUMI?

GUMI has the higher dividend yield at 2.77%, compared with 2.02% for BSMZ.

What is the main difference between BSMZ and GUMI?

They also come from different issuers: Invesco and Goldman Sachs. Their fees differ too: 0.18% for BSMZ and 0.16% for GUMI.