GMUN vs. MLPI

Last updated Jul 18, 2026

GMUN (Goldman Sachs Community Municipal Bond ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - GMUN is a Municipal Bonds fund tracking the Bloomberg Goldman Sachs Community Municipal Index, while MLPI is a MLPs fund actively managed by NEOS. GMUN is passively managed, while MLPI is actively managed. At a correlation of -0.18, they often move in opposite directions. GMUN charges 0.15%/yr vs 0.68%/yr for MLPI.

Performance

GMUN vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Community Municipal Bond ETF (GMUN) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GMUN

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

MLPI

• 1D: -0.30%
• 1M: 3.50%
• 6M: 18.80%
• YTD: 20.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMUN vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
GMUN Goldman Sachs Community Municipal Bond ETF	-0.34%	0.25%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	20.79%	0.36%

Correlation

The correlation between GMUN and MLPI is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	-0.18

Return for Risk

GMUN vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Community Municipal Bond ETF (GMUN) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). 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.

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

Drawdowns

Drawdown Indicators

	GMUN	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	—	-5.38%	—
Current Drawdown Current decline from peak	—	-1.21%	—
Average Drawdown Average peak-to-trough decline	—	-1.57%	—

Volatility

Volatility by Period

	GMUN	MLPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	13.22%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	13.22%	—

GMUN vs. MLPI - Expense Ratio Comparison

GMUN has a 0.15% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

GMUN vs. MLPI - Dividend Comparison

GMUN has not paid dividends to shareholders, while MLPI's dividend yield for the trailing twelve months is around 7.12%.

Position	TTM	2025	2024	2023
GMUN Goldman Sachs Community Municipal Bond ETF	2.87%	2.94%	3.22%	2.20%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.12%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GMUN and MLPI in my portfolio?

GMUN and MLPI have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GMUN or MLPI?

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.

Which ETF is cheaper, GMUN or MLPI?

GMUN is cheaper with a 0.15% expense ratio, compared with 0.68% for MLPI.

Which ETF pays a higher dividend yield, GMUN or MLPI?

MLPI has the higher dividend yield at 7.12%, compared with 2.87% for GMUN.

What is the main difference between GMUN and MLPI?

GMUN is categorized as Municipal Bonds, while MLPI is MLPs. They also come from different issuers: Goldman Sachs and NEOS. Their fees differ too: 0.15% for GMUN and 0.68% for MLPI.