GMUN vs. AMUN
GMUN (Goldman Sachs Community Municipal Bond ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both Municipal Bonds funds. GMUN is passively managed, while AMUN is actively managed. At a 0.16 correlation, their price movements are largely independent. GMUN charges 0.15%/yr vs 0.25%/yr for AMUN.
Performance
GMUN vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, GMUN achieves a -0.34% return, which is significantly lower than AMUN's 1.27% return.
GMUN
- 1D
- 0.00%
- 1M
- -0.58%
- YTD
- -0.34%
- 6M
- -0.20%
- 1Y
- 4.19%
- 3Y*
- 3.06%
- 5Y*
- —
- 10Y*
- —
AMUN
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.27%
- 6M
- 1.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMUN vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GMUN Goldman Sachs Community Municipal Bond ETF | -0.34% | 0.66% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.27% | 0.14% |
Correlation
The correlation between GMUN and AMUN is 0.16, 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 Oct 20, 2025 | 0.16 |
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Return for Risk
GMUN vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Community Municipal Bond ETF (GMUN) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| GMUN | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.49 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | — | — |
| Martin ratioReturn relative to average drawdown | 5.36 | — | — |
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Drawdowns
GMUN vs. AMUN - Drawdown Comparison
The maximum GMUN drawdown since its inception was -4.35%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for GMUN and AMUN.
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Drawdown Indicators
| GMUN | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -0.61% | -3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.37% | — | — |
Current DrawdownCurrent decline from peak | -2.29% | 0.00% | -2.29% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -0.08% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | — | — |
Volatility
GMUN vs. AMUN - Volatility Comparison
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Volatility by Period
| GMUN | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 0.97% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.95% | 0.97% | +1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.95% | 0.97% | +1.98% |
GMUN vs. AMUN - Expense Ratio Comparison
GMUN has a 0.15% expense ratio, which is lower than AMUN'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%.
Dividends
GMUN vs. AMUN - Dividend Comparison
GMUN has not paid dividends to shareholders, while AMUN's dividend yield for the trailing twelve months is around 1.88%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.88% | 0.66% | 0.00% | 0.00% |
GMUN Goldman Sachs Community Municipal Bond ETF | 3.12% | 2.94% | 3.22% | 2.20% |
Frequently Asked Questions
GMUN and AMUN have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GMUN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GMUN is cheaper with a 0.15% expense ratio, compared with 0.25% for AMUN.
GMUN has the higher dividend yield at 3.12%, compared with 1.88% for AMUN.
They also come from different issuers: Goldman Sachs and abrdn. Their fees differ too: 0.15% for GMUN and 0.25% for AMUN.
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