GSSC vs. MUB
GSSC (Goldman Sachs ActiveBeta US Small Cap Equity ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - GSSC is a Small Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Small Cap Equity Index, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 5 years, GSSC returned 7.20%/yr vs 0.86%/yr for MUB. At a 0.06 correlation, their price movements are largely independent. GSSC charges 0.20%/yr vs 0.07%/yr for MUB.
Performance
GSSC vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, GSSC achieves a 13.55% return, which is significantly higher than MUB's 1.24% return.
GSSC
- 1D
- -1.21%
- 1M
- 3.24%
- YTD
- 13.55%
- 6M
- 13.10%
- 1Y
- 30.39%
- 3Y*
- 16.72%
- 5Y*
- 7.20%
- 10Y*
- —
MUB
- 1D
- -0.08%
- 1M
- 0.56%
- YTD
- 1.24%
- 6M
- 1.74%
- 1Y
- 6.95%
- 3Y*
- 3.43%
- 5Y*
- 0.86%
- 10Y*
- 2.00%
GSSC vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF | 13.55% | 10.76% | 11.14% | 17.27% | -16.81% | 24.13% | 16.02% | 23.14% | -9.24% | 8.77% |
MUB iShares National AMT-Free Muni Bond ETF | 1.24% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 1.81% |
Correlation
The correlation between GSSC and MUB is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2017 | 0.06 |
Over the past year, GSSC and MUB have become more correlated (0.27) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
GSSC vs. MUB — Risk / Return Rank
GSSC
MUB
GSSC vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| GSSC | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.50 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.50 | +0.39 |
| Martin ratioReturn relative to average drawdown | 9.64 | 8.85 | +0.80 |
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
| GSSC | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 2.39 | -0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.21 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.58 | -0.14 |
Drawdowns
GSSC vs. MUB - Drawdown Comparison
The maximum GSSC drawdown since its inception was -41.38%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for GSSC and MUB.
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Drawdown Indicators
| GSSC | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.38% | -13.68% | -27.70% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -2.79% | -7.77% |
Max Drawdown (3Y)Largest decline over 3 years | -26.05% | -5.34% | -20.71% |
Max Drawdown (5Y)Largest decline over 5 years | -27.81% | -11.88% | -15.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -1.21% | -0.70% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -9.02% | -2.23% | -6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 0.79% | +2.37% |
Volatility
GSSC vs. MUB - Volatility Comparison
Goldman Sachs ActiveBeta US Small Cap Equity ETF (GSSC) has a higher volatility of 5.31% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.97%. This indicates that GSSC's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSSC | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 0.97% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.82% | 2.22% | +10.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 2.92% | +15.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.26% | 4.06% | +17.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.02% | 4.92% | +18.10% |
GSSC vs. MUB - Expense Ratio Comparison
GSSC has a 0.20% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GSSC vs. MUB - Dividend Comparison
GSSC's dividend yield for the trailing twelve months is around 1.07%, less than MUB's 3.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSSC Goldman Sachs ActiveBeta US Small Cap Equity ETF | 1.07% | 1.17% | 1.42% | 1.33% | 1.31% | 1.00% | 0.94% | 1.24% | 1.21% | 0.73% | 0.00% | 0.00% |
MUB iShares National AMT-Free Muni Bond ETF | 3.17% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
Frequently Asked Questions
GSSC and MUB have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSSC has higher volatility (5.31%) compared to MUB (0.97%). In terms of maximum drawdown, GSSC dropped -41.38% vs MUB's -13.68%.
On 5-year performance, GSSC leads with 7.20% vs 0.86% for MUB. On fees, MUB is cheaper at 0.07% per year. On volatility, MUB has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSSC has performed better with a 7.20% return vs 0.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUB is cheaper with a 0.07% expense ratio, compared with 0.20% for GSSC.
MUB has the higher dividend yield at 3.17%, compared with 1.07% for GSSC.
GSSC is categorized as Small Cap Growth Equities, while MUB is Municipal Bonds. GSSC tracks Goldman Sachs ActiveBeta U.S. Small Cap Equity Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.20% for GSSC and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.39 vs 1.65), 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.
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