GMUN vs. THYM

Last updated Jul 18, 2026

GMUN (Goldman Sachs Community Municipal Bond ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - GMUN is a Municipal Bonds fund tracking the Bloomberg Goldman Sachs Community Municipal Index, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. GMUN is passively managed, while THYM is actively managed. A 0.56 correlation means they provide meaningful diversification when combined. GMUN charges 0.15%/yr vs 0.32%/yr for THYM.

Performance

GMUN vs. THYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Community Municipal Bond ETF (GMUN) and T. Rowe Price High Income Municipal ETF (THYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GMUN

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

THYM

• 1D: -0.01%
• 1M: 0.27%
• 6M: 3.10%
• YTD: 3.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GMUN vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
GMUN Goldman Sachs Community Municipal Bond ETF	-0.34%	0.55%
THYM T. Rowe Price High Income Municipal ETF	3.73%	0.25%

Correlation

The correlation between GMUN and THYM is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.56

Return for Risk

GMUN vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Community Municipal Bond ETF (GMUN) and T. Rowe Price High Income Municipal ETF (THYM). 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	THYM	Difference
Max Drawdown Largest peak-to-trough decline	—	-2.93%	—
Current Drawdown Current decline from peak	—	-0.90%	—
Average Drawdown Average peak-to-trough decline	—	-0.46%	—

Volatility

Volatility by Period

	GMUN	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	4.28%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.28%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.28%	—

GMUN vs. THYM - Expense Ratio Comparison

GMUN has a 0.15% expense ratio, which is lower than THYM's 0.32% expense ratio.

Dividends

GMUN vs. THYM - Dividend Comparison

GMUN has not paid dividends to shareholders, while THYM's dividend yield for the trailing twelve months is around 2.57%.

Position	TTM	2025	2024	2023
GMUN Goldman Sachs Community Municipal Bond ETF	2.87%	2.94%	3.22%	2.20%
THYM T. Rowe Price High Income Municipal ETF	2.57%	0.37%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GMUN and THYM in my portfolio?

GMUN and THYM have a correlation of 0.56, 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 THYM?

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 THYM?

GMUN is cheaper with a 0.15% expense ratio, compared with 0.32% for THYM.

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

GMUN has the higher dividend yield at 2.87%, compared with 2.57% for THYM.

What is the main difference between GMUN and THYM?

GMUN is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: Goldman Sachs and T. Rowe Price. Their fees differ too: 0.15% for GMUN and 0.32% for THYM.