FTMA vs. GUMI
FTMA (Franklin Massachusetts Municipal Income ETF) and GUMI (Goldman Sachs Ultra Short Municipal Income ETF) are both Municipal Bonds funds. FTMA is passively managed, while GUMI is actively managed. At a 0.21 correlation, their price movements are largely independent. FTMA charges 0.35%/yr vs 0.16%/yr for GUMI.
Performance
FTMA vs. GUMI - Performance Comparison
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Returns By Period
In the year-to-date period, FTMA achieves a 2.06% return, which is significantly higher than GUMI's 1.06% return.
FTMA
- 1D
- -0.06%
- 1M
- 0.80%
- YTD
- 2.06%
- 6M
- 2.90%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUMI
- 1D
- -0.04%
- 1M
- 0.23%
- YTD
- 1.06%
- 6M
- 1.20%
- 1Y
- 3.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTMA vs. GUMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FTMA Franklin Massachusetts Municipal Income ETF | 2.06% | 0.43% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 1.06% | 0.51% |
Correlation
The correlation between FTMA and GUMI is 0.21, 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 Nov 11, 2025 | 0.21 |
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Return for Risk
FTMA vs. GUMI — Risk / Return Rank
FTMA
GUMI
FTMA vs. GUMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Massachusetts Municipal Income ETF (FTMA) 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.
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Sharpe Ratios by Period
| FTMA | 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 | 1.29 | 3.29 | -2.00 |
Drawdowns
FTMA vs. GUMI - Drawdown Comparison
The maximum FTMA drawdown since its inception was -2.27%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for FTMA and GUMI.
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Drawdown Indicators
| FTMA | GUMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.27% | -0.48% | -1.79% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.36% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.04% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.51% | -0.05% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.08% | — |
Volatility
FTMA vs. GUMI - Volatility Comparison
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Volatility by Period
| FTMA | 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 | 3.52% | 1.09% | +2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.52% | 0.99% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.52% | 0.99% | +2.53% |
FTMA vs. GUMI - Expense Ratio Comparison
FTMA has a 0.35% expense ratio, which is higher than GUMI's 0.16% expense ratio.
Dividends
FTMA vs. GUMI - Dividend Comparison
FTMA's dividend yield for the trailing twelve months is around 1.96%, less than GUMI's 2.77% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FTMA Franklin Massachusetts Municipal Income ETF | 1.96% | 0.54% | 0.00% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 2.77% | 2.95% | 1.37% |
Frequently Asked Questions
FTMA and GUMI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GUMI is cheaper with a 0.16% expense ratio, compared with 0.35% for FTMA.
GUMI has the higher dividend yield at 2.77%, compared with 1.96% for FTMA.
They also come from different issuers: Franklin Templeton and Goldman Sachs. Their fees differ too: 0.35% for FTMA and 0.16% for GUMI.
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