GMNY vs. XLEI

Last updated Aug 2, 2026

GMNY (Goldman Sachs Dynamic New York Municipal Income ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both exchange-traded funds - GMNY is a Municipal Bonds fund actively managed by Goldman Sachs, while XLEI is a Energy Equities fund tracking the S&P Energy Select Sector. GMNY is actively managed, while XLEI is passively managed. Over the past year, GMNY returned 4.75% vs 35.36% for XLEI. Their -0.26 correlation means they have often moved in opposite directions in the past. GMNY charges 0.30%/yr vs 0.35%/yr for XLEI.

Performance

GMNY vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMNY achieves a 1.02% return, which is significantly lower than XLEI's 24.56% return.

GMNY

• 1D: -0.09%
• 1M: -1.34%
• 6M: 0.27%
• YTD: 1.02%
• 1Y: 4.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.79%

XLEI

• 1D: 0.78%
• 1M: 10.90%
• 6M: 15.89%
• YTD: 24.56%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GMNY Goldman Sachs Dynamic New York Municipal Income ETF	$150.89K	$140.38K	$172.55K
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.55M	$1.39M	$1.31M

GMNY vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
GMNY Goldman Sachs Dynamic New York Municipal Income ETF	1.02%	4.23%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	24.56%	6.17%

Correlation

The correlation between GMNY and XLEI is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.26
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	-0.26

Return for Risk

GMNY vs. XLEI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GMNY

GMNY Risk / Return Rank: 79
GMNY Sharpe Ratio Rank: 84
GMNY Sortino Ratio Rank: 84
GMNY Omega Ratio Rank: 88
GMNY Calmar Ratio Rank: 69
GMNY Martin Ratio Rank: 71

XLEI

XLEI Risk / Return Rank: 89
XLEI Sharpe Ratio Rank: 92
XLEI Sortino Ratio Rank: 88
XLEI Omega Ratio Rank: 89
XLEI Calmar Ratio Rank: 91
XLEI Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GMNY vs. XLEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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.

	GMNY	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.40	-0.43
Sortino ratio: Return per unit of downside risk	2.81	3.00	-0.19
Omega ratio: Gain probability vs. loss probability	1.40	1.41	-0.01
Calmar ratio: Return relative to maximum drawdown	2.43	4.11	-1.68
Martin ratio: Return relative to average drawdown	8.80	12.37	-3.57

GMNY vs. XLEI - Sharpe Ratio Comparison

The current GMNY Sharpe Ratio is 1.97, which is comparable to the XLEI Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of GMNY and XLEI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GMNY vs. XLEI - Drawdown Comparison

The maximum GMNY drawdown since its inception was -4.00%, smaller than the maximum XLEI drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for GMNY and XLEI.

Drawdown Indicators

	GMNY	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-4.00%	-8.19%	+4.19%
Max Drawdown (1Y) Largest decline over 1 year	-2.21%	-8.19%	+5.98%
Current Drawdown Current decline from peak	-1.37%	0.00%	-1.37%
Average Drawdown Average peak-to-trough decline	-0.88%	-1.84%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	2.74%	-2.13%

Volatility

GMNY vs. XLEI - Volatility Comparison

The current volatility for Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) is 0.71%, while State Street Energy Select Sector SPDR Premium Income ETF (XLEI) has a volatility of 3.96%. This indicates that GMNY experiences smaller price fluctuations and is considered to be less risky than XLEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GMNY	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	3.96%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	2.11%	11.26%	-9.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	14.03%	-11.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.52%	14.02%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	14.02%	-10.50%

GMNY vs. XLEI - Expense Ratio Comparison

GMNY has a 0.30% expense ratio, which is lower than XLEI's 0.35% expense ratio.

Dividends

GMNY vs. XLEI - Dividend Comparison

GMNY's dividend yield for the trailing twelve months is around 3.33%, less than XLEI's 18.37% yield.

Position	TTM	2025	2024
GMNY Goldman Sachs Dynamic New York Municipal Income ETF	3.17%	3.33%	1.47%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	18.37%	10.17%	0.00%

Frequently Asked Questions

Can I hold both GMNY and XLEI in my portfolio?

GMNY and XLEI have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GMNY or XLEI?

XLEI has higher volatility (3.96%) compared to GMNY (0.71%). In terms of maximum drawdown, GMNY dropped -4.00% vs XLEI's -8.19%.

Which ETF is better, GMNY or XLEI?

On 1-year performance, XLEI leads with 35.36% vs 4.75% for GMNY. On fees, GMNY is cheaper at 0.30% per year. On volatility, GMNY has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GMNY or XLEI?

Over the 1-year period, XLEI has performed better with a 35.36% return vs 4.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GMNY or XLEI?

GMNY is cheaper with a 0.30% expense ratio, compared with 0.35% for XLEI.

Which ETF pays a higher dividend yield, GMNY or XLEI?

XLEI has the higher dividend yield at 18.37%, compared with 3.17% for GMNY.

What is the main difference between GMNY and XLEI?

GMNY is categorized as Municipal Bonds, while XLEI is Energy Equities. They also come from different issuers: Goldman Sachs and State Street. Their fees differ too: 0.30% for GMNY and 0.35% for XLEI.

Which has better risk-adjusted returns?

XLEI currently has the higher Sharpe Ratio (2.40 vs 1.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.