GSMIX vs. VKMMX
Compare and contrast key facts about Goldman Sachs Dynamic Municipal Income Fund (GSMIX) and Invesco Municipal Income Fund (VKMMX).
GSMIX is managed by Goldman Sachs. It was launched on Jul 19, 1993. VKMMX is managed by Invesco. It was launched on Jul 31, 1990.
Performance
GSMIX vs. VKMMX - Performance Comparison
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GSMIX vs. VKMMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSMIX Goldman Sachs Dynamic Municipal Income Fund | -0.49% | 4.12% | 3.03% | 6.41% | -9.77% | 2.80% | 3.57% | 7.49% | 2.83% | 5.55% |
VKMMX Invesco Municipal Income Fund | -0.60% | 3.03% | 3.01% | 6.50% | -12.49% | 3.63% | 4.66% | 8.67% | 0.24% | 6.33% |
Returns By Period
In the year-to-date period, GSMIX achieves a -0.49% return, which is significantly higher than VKMMX's -0.60% return. Over the past 10 years, GSMIX has outperformed VKMMX with an annualized return of 2.42%, while VKMMX has yielded a comparatively lower 1.95% annualized return.
GSMIX
- 1D
- 0.07%
- 1M
- -2.39%
- YTD
- -0.49%
- 6M
- 0.78%
- 1Y
- 3.18%
- 3Y*
- 3.53%
- 5Y*
- 0.95%
- 10Y*
- 2.42%
VKMMX
- 1D
- 0.26%
- 1M
- -2.70%
- YTD
- -0.60%
- 6M
- 0.58%
- 1Y
- 2.25%
- 3Y*
- 2.93%
- 5Y*
- 0.32%
- 10Y*
- 1.95%
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GSMIX vs. VKMMX - Expense Ratio Comparison
GSMIX has a 0.73% expense ratio, which is lower than VKMMX's 0.81% expense ratio.
Return for Risk
GSMIX vs. VKMMX — Risk / Return Rank
GSMIX
VKMMX
GSMIX vs. VKMMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Dynamic Municipal Income Fund (GSMIX) and Invesco Municipal Income Fund (VKMMX). 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.
| GSMIX | VKMMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.51 | +0.41 |
Sortino ratioReturn per unit of downside risk | 1.26 | 0.73 | +0.53 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.14 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.54 | +0.35 |
Martin ratioReturn relative to average drawdown | 3.14 | 1.41 | +1.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSMIX | VKMMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.51 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.07 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.41 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 1.03 | -0.08 |
Correlation
The correlation between GSMIX and VKMMX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GSMIX vs. VKMMX - Dividend Comparison
GSMIX's dividend yield for the trailing twelve months is around 3.52%, less than VKMMX's 4.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSMIX Goldman Sachs Dynamic Municipal Income Fund | 3.52% | 4.32% | 3.31% | 2.82% | 1.86% | 1.92% | 2.11% | 2.57% | 2.79% | 2.99% | 3.35% | 3.43% |
VKMMX Invesco Municipal Income Fund | 4.03% | 5.16% | 4.06% | 3.12% | 3.42% | 3.05% | 2.86% | 3.80% | 4.07% | 3.62% | 4.14% | 4.22% |
Drawdowns
GSMIX vs. VKMMX - Drawdown Comparison
The maximum GSMIX drawdown since its inception was -15.43%, smaller than the maximum VKMMX drawdown of -21.20%. Use the drawdown chart below to compare losses from any high point for GSMIX and VKMMX.
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Drawdown Indicators
| GSMIX | VKMMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.43% | -21.20% | +5.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | -5.88% | +1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -17.97% | +3.64% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -17.97% | +3.64% |
Current DrawdownCurrent decline from peak | -2.39% | -2.70% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -2.62% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 2.23% | -0.98% |
Volatility
GSMIX vs. VKMMX - Volatility Comparison
The current volatility for Goldman Sachs Dynamic Municipal Income Fund (GSMIX) is 0.88%, while Invesco Municipal Income Fund (VKMMX) has a volatility of 1.25%. This indicates that GSMIX experiences smaller price fluctuations and is considered to be less risky than VKMMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSMIX | VKMMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 1.25% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 2.00% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.48% | 6.27% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.64% | 4.91% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.90% | 4.77% | -0.87% |