FTMU vs. GUMI

Last updated Jun 27, 2026

FTMU (Franklin Municipal Income ETF) and GUMI (Goldman Sachs Ultra Short Municipal Income ETF) are both Municipal Bonds funds. Both are actively managed. At a 0.09 correlation, their price movements are largely independent. FTMU charges 0.30%/yr vs 0.16%/yr for GUMI.

Performance

FTMU vs. GUMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Municipal Income ETF (FTMU) 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, FTMU achieves a 3.29% return, which is significantly higher than GUMI's 1.33% return.

FTMU

• 1D: 0.00%
• 1M: 1.53%
• YTD: 3.29%
• 6M: 3.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GUMI

• 1D: 0.03%
• 1M: 0.32%
• YTD: 1.33%
• 6M: 1.40%
• 1Y: 3.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTMU vs. GUMI - Yearly Performance Comparison

	2026 (YTD)	2025
FTMU Franklin Municipal Income ETF	3.29%	-0.08%
GUMI Goldman Sachs Ultra Short Municipal Income ETF	1.33%	0.70%

Correlation

The correlation between FTMU and GUMI is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025	0.09

Return for Risk

FTMU vs. GUMI — Risk / Return Rank

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

FTMU

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

GUMI

GUMI Risk / Return Rank: 96
GUMI Sharpe Ratio Rank: 93
GUMI Sortino Ratio Rank: 96
GUMI Omega Ratio Rank: 95
GUMI Calmar Ratio Rank: 97
GUMI Martin Ratio Rank: 97

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.

FTMU vs. GUMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Municipal Income ETF (FTMU) 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.

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.

	FTMU	GUMI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.93	—
Sortino ratio: Return per unit of downside risk	—	4.79	—
Omega ratio: Gain probability vs. loss probability	—	1.65	—
Calmar ratio: Return relative to maximum drawdown	—	8.76	—
Martin ratio: Return relative to average drawdown	—	37.91	—

Drawdowns

FTMU vs. GUMI - Drawdown Comparison

The maximum FTMU drawdown since its inception was -3.07%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for FTMU and GUMI.

Drawdown Indicators

	FTMU	GUMI	Difference
Max Drawdown Largest peak-to-trough decline	-3.07%	-0.48%	-2.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.36%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.64%	-0.05%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.08%	—

Volatility

Volatility by Period

	FTMU	GUMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	1.07%	+2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	0.97%	+2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	0.97%	+2.61%

FTMU vs. GUMI - Expense Ratio Comparison

FTMU has a 0.30% expense ratio, which is higher than GUMI's 0.16% expense ratio.

Dividends

FTMU vs. GUMI - Dividend Comparison

FTMU's dividend yield for the trailing twelve months is around 2.37%, less than GUMI's 2.76% yield.

Position	TTM	2025	2024
FTMU Franklin Municipal Income ETF	2.37%	0.75%	0.00%
GUMI Goldman Sachs Ultra Short Municipal Income ETF	2.76%	2.95%	1.37%

Frequently Asked Questions

Can I hold both FTMU and GUMI in my portfolio?

FTMU and GUMI have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMU 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, FTMU or GUMI?

GUMI is cheaper with a 0.16% expense ratio, compared with 0.30% for FTMU.

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

GUMI has the higher dividend yield at 2.76%, compared with 2.37% for FTMU.

What is the main difference between FTMU and GUMI?

They also come from different issuers: Franklin Templeton and Goldman Sachs. Their fees differ too: 0.30% for FTMU and 0.16% for GUMI.