GSMIX vs. NRK
GSMIX (Goldman Sachs Dynamic Municipal Income Fund) and NRK (Nuveen New York AMT Free Quality Municipal Income) are both Municipal Bonds funds. Over the past 10 years, GSMIX returned 2.37%/yr vs 2.37%/yr for NRK. At a 0.25 correlation, their price movements are largely independent. GSMIX charges 0.73%/yr vs 2.16%/yr for NRK.
Performance
GSMIX vs. NRK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GSMIX achieves a 1.73% return, which is significantly lower than NRK's 9.70% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: GSMIX at 2.37% and NRK at 2.37%.
GSMIX
- 1D
- -0.07%
- 1M
- 1.35%
- YTD
- 1.73%
- 6M
- 2.16%
- 1Y
- 5.87%
- 3Y*
- 4.11%
- 5Y*
- 1.01%
- 10Y*
- 2.37%
NRK
- 1D
- 0.38%
- 1M
- 3.94%
- YTD
- 9.70%
- 6M
- 10.68%
- 1Y
- 18.60%
- 3Y*
- 8.01%
- 5Y*
- 0.31%
- 10Y*
- 2.37%
GSMIX vs. NRK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSMIX Goldman Sachs Dynamic Municipal Income Fund | 1.73% | 4.12% | 3.03% | 6.41% | -9.77% | 2.80% | 3.57% | 7.49% | 2.83% | 5.55% |
NRK Nuveen New York AMT Free Quality Municipal Income | 9.70% | 4.74% | 5.93% | 7.03% | -21.84% | 6.24% | 4.08% | 21.43% | -5.98% | 6.16% |
Correlation
The correlation between GSMIX and NRK is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2003 | 0.25 |
Over the past year, GSMIX and NRK have become more correlated (0.49) than their long-term average of 0.25, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GSMIX vs. NRK — Risk / Return Rank
GSMIX
NRK
GSMIX vs. NRK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Dynamic Municipal Income Fund (GSMIX) and Nuveen New York AMT Free Quality Municipal Income (NRK). 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.
| GSMIX | NRK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.43 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 3.51 | -1.05 |
| Martin ratioReturn relative to average drawdown | 8.37 | 9.37 | -1.00 |
Loading charts...
Drawdowns
GSMIX vs. NRK - Drawdown Comparison
The maximum GSMIX drawdown since its inception was -15.43%, smaller than the maximum NRK drawdown of -40.18%. Use the drawdown chart below to compare losses from any high point for GSMIX and NRK.
Loading charts...
Drawdown Indicators
| GSMIX | NRK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.43% | -40.18% | +24.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -5.32% | +2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -5.37% | -12.67% | +7.30% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -31.06% | +16.73% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -31.06% | +16.73% |
Current DrawdownCurrent decline from peak | -0.22% | -1.01% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -2.40% | -8.17% | +5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 1.99% | -1.27% |
Volatility
GSMIX vs. NRK - Volatility Comparison
The current volatility for Goldman Sachs Dynamic Municipal Income Fund (GSMIX) is 0.64%, while Nuveen New York AMT Free Quality Municipal Income (NRK) has a volatility of 3.31%. This indicates that GSMIX experiences smaller price fluctuations and is considered to be less risky than NRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GSMIX | NRK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 3.31% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 6.66% | -4.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.37% | 8.51% | -6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.67% | 9.95% | -6.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 10.35% | -6.43% |
GSMIX vs. NRK - Expense Ratio Comparison
GSMIX has a 0.73% expense ratio, which is lower than NRK's 2.16% expense ratio.
Dividends
GSMIX vs. NRK - Dividend Comparison
GSMIX's dividend yield for the trailing twelve months is around 3.49%, less than NRK's 7.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSMIX Goldman Sachs Dynamic Municipal Income Fund | 3.49% | 4.32% | 3.31% | 2.82% | 1.86% | 1.92% | 2.11% | 2.57% | 2.79% | 2.99% | 3.35% | 3.43% |
NRK Nuveen New York AMT Free Quality Municipal Income | 7.75% | 8.21% | 6.74% | 4.06% | 5.41% | 4.18% | 4.15% | 3.98% | 4.68% | 4.85% | 5.37% | 5.44% |
Frequently Asked Questions
GSMIX and NRK have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NRK has higher volatility (3.31%) compared to GSMIX (0.64%). In terms of maximum drawdown, GSMIX dropped -15.43% vs NRK's -40.18%.
GSMIX currently has the higher Sharpe Ratio (2.57 vs 2.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for GSMIX and NRK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer