GMUB vs. IBMM

Last updated Apr 1, 2026

Compare and contrast key facts about Goldman Sachs Municipal Income ETF (GMUB) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM).

GMUB and IBMM 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. IBMM is a passively managed fund by iShares that tracks the performance of the S&P AMT-Free Municipal Series Dec 2024 Index. It was launched on Mar 20, 2018.

Performance

GMUB vs. IBMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Municipal Income ETF (GMUB) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). The values are adjusted to include any dividend payments, if applicable.

GMUB vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
GMUB Goldman Sachs Municipal Income ETF	-0.93%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Returns By Period

GMUB

• 1D: 0.02%
• 1M: -1.90%
• YTD: 0.08%
• 6M: 1.90%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMM

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

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

GMUB vs. IBMM - Expense Ratio Comparison

Both GMUB and IBMM have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

GMUB

Goldman Sachs Municipal Income ETF

IBMM

iShares iBonds Dec 2024 Term Muni Bond ETF

Return for Risk

GMUB vs. IBMM — Risk / Return Rank

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

GMUB

GMUB Risk / Return Rank: 79
GMUB Sharpe Ratio Rank: 83
GMUB Sortino Ratio Rank: 82
GMUB Omega Ratio Rank: 85
GMUB Calmar Ratio Rank: 76
GMUB Martin Ratio Rank: 71

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.

GMUB vs. IBMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Municipal Income ETF (GMUB) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). 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	IBMM	Difference
Sharpe ratio Return per unit of total volatility	1.65	—	—
Sortino ratio Return per unit of downside risk	2.19	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	2.09	—	—
Martin ratio Return relative to average drawdown	7.54	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GMUB	IBMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	—	—

Dividends

GMUB vs. IBMM - Dividend Comparison

GMUB's dividend yield for the trailing twelve months is around 3.15%, while IBMM has not paid dividends to shareholders.

	TTM	2025	2024
GMUB Goldman Sachs Municipal Income ETF	3.15%	3.14%	1.46%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%

Drawdowns

GMUB vs. IBMM - Drawdown Comparison

The maximum GMUB drawdown since its inception was -3.28%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for GMUB and IBMM.

Drawdown Indicators

	GMUB	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	0.00%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	—	—
Current Drawdown Current decline from peak	-1.90%	0.00%	-1.90%
Average Drawdown Average peak-to-trough decline	-0.59%	0.00%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	—	—

Volatility

Volatility by Period

	GMUB	IBMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	0.00%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	0.00%	+3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	0.00%	+3.39%