GMUB vs. GSIE
Compare and contrast key facts about Goldman Sachs Municipal Income ETF (GMUB) and Goldman Sachs ActiveBeta International Equity ETF (GSIE).
GMUB and GSIE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GMUB is an actively managed fund by Goldman Sachs. It was launched on Jul 23, 2024. GSIE is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta International Equity Index. It was launched on Nov 6, 2015.
Performance
GMUB vs. GSIE - Performance Comparison
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GMUB vs. GSIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GMUB Goldman Sachs Municipal Income ETF | 0.08% | 5.99% | 1.08% |
GSIE Goldman Sachs ActiveBeta International Equity ETF | 2.37% | 32.53% | -0.21% |
Returns By Period
In the year-to-date period, GMUB achieves a 0.08% return, which is significantly lower than GSIE's 2.37% return.
GMUB
- 1D
- 0.02%
- 1M
- -1.90%
- YTD
- 0.08%
- 6M
- 1.90%
- 1Y
- 5.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSIE
- 1D
- 1.58%
- 1M
- -3.98%
- YTD
- 2.37%
- 6M
- 6.80%
- 1Y
- 26.11%
- 3Y*
- 15.72%
- 5Y*
- 8.62%
- 10Y*
- 9.01%
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GMUB vs. GSIE - Expense Ratio Comparison
GMUB has a 0.18% expense ratio, which is lower than GSIE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
GMUB vs. GSIE — Risk / Return Rank
GMUB
GSIE
GMUB vs. GSIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Municipal Income ETF (GMUB) and Goldman Sachs ActiveBeta International Equity ETF (GSIE). 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.
| GMUB | GSIE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.65 | 1.47 | +0.17 |
Sortino ratioReturn per unit of downside risk | 2.19 | 2.12 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.31 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.46 | -0.37 |
Martin ratioReturn relative to average drawdown | 7.54 | 9.50 | -1.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GMUB | GSIE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.47 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.54 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.50 | +0.76 |
Correlation
The correlation between GMUB and GSIE is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GMUB vs. GSIE - Dividend Comparison
GMUB's dividend yield for the trailing twelve months is around 3.15%, more than GSIE's 2.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMUB Goldman Sachs Municipal Income ETF | 2.92% | 3.14% | 1.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSIE Goldman Sachs ActiveBeta International Equity ETF | 2.62% | 2.65% | 3.11% | 2.87% | 3.01% | 2.40% | 1.60% | 2.80% | 2.68% | 2.31% | 2.15% | 0.13% |
Drawdowns
GMUB vs. GSIE - Drawdown Comparison
The maximum GMUB drawdown since its inception was -3.28%, smaller than the maximum GSIE drawdown of -34.63%. Use the drawdown chart below to compare losses from any high point for GMUB and GSIE.
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Drawdown Indicators
| GMUB | GSIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.28% | -34.63% | +31.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -10.76% | +7.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.63% | — |
Current DrawdownCurrent decline from peak | -1.90% | -5.99% | +4.09% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -6.11% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 2.78% | -2.01% |
Volatility
GMUB vs. GSIE - Volatility Comparison
The current volatility for Goldman Sachs Municipal Income ETF (GMUB) is 1.11%, while Goldman Sachs ActiveBeta International Equity ETF (GSIE) has a volatility of 7.15%. This indicates that GMUB experiences smaller price fluctuations and is considered to be less risky than GSIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GMUB | GSIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 7.15% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.88% | 10.64% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 17.82% | -14.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.39% | 15.92% | -12.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.39% | 16.70% | -13.31% |