GUMI vs. BSMR
GUMI (Goldman Sachs Ultra Short Municipal Income ETF) and BSMR (Invesco BulletShares 2027 Municipal Bond ETF) are both Municipal Bonds funds. GUMI is actively managed, while BSMR is passively managed. Over the past year, GUMI returned 3.17% vs 3.90% for BSMR. At a 0.25 correlation, their price movements are largely independent. GUMI charges 0.16%/yr vs 0.18%/yr for BSMR.
Performance
GUMI vs. BSMR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GUMI achieves a 1.12% return, which is significantly higher than BSMR's 0.93% return.
GUMI
- 1D
- 0.06%
- 1M
- 0.25%
- YTD
- 1.12%
- 6M
- 1.35%
- 1Y
- 3.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSMR
- 1D
- -0.11%
- 1M
- 0.23%
- YTD
- 0.93%
- 6M
- 1.19%
- 1Y
- 3.90%
- 3Y*
- 2.93%
- 5Y*
- 0.45%
- 10Y*
- —
GUMI vs. BSMR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 1.12% | 3.39% | 1.52% |
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 0.93% | 3.10% | 1.51% |
Correlation
The correlation between GUMI and BSMR is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024 | 0.25 |
Over the past year, the correlation between GUMI and BSMR has dropped to 0.04 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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
GUMI vs. BSMR — Risk / Return Rank
GUMI
BSMR
GUMI vs. BSMR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Ultra Short Municipal Income ETF (GUMI) and Invesco BulletShares 2027 Municipal Bond ETF (BSMR). 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.
| GUMI | BSMR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.68 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 8.90 | 6.93 | +1.98 |
| Martin ratioReturn relative to average drawdown | 37.70 | 21.96 | +15.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GUMI | BSMR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.91 | 3.12 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.32 | 0.21 | +3.11 |
Drawdowns
GUMI vs. BSMR - Drawdown Comparison
The maximum GUMI drawdown since its inception was -0.48%, smaller than the maximum BSMR drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for GUMI and BSMR.
Loading charts...
Drawdown Indicators
| GUMI | BSMR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.48% | -13.49% | +13.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.36% | -0.57% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.11% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -3.49% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.18% | -0.10% |
Volatility
GUMI vs. BSMR - Volatility Comparison
The current volatility for Goldman Sachs Ultra Short Municipal Income ETF (GUMI) is 0.25%, while Invesco BulletShares 2027 Municipal Bond ETF (BSMR) has a volatility of 0.37%. This indicates that GUMI experiences smaller price fluctuations and is considered to be less risky than BSMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GUMI | BSMR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.37% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.55% | 0.93% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.10% | 1.26% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.99% | 3.03% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.99% | 5.72% | -4.73% |
GUMI vs. BSMR - Expense Ratio Comparison
GUMI has a 0.16% expense ratio, which is lower than BSMR's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GUMI vs. BSMR - Dividend Comparison
GUMI's dividend yield for the trailing twelve months is around 2.77%, more than BSMR's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BSMR Invesco BulletShares 2027 Municipal Bond ETF | 2.72% | 2.77% | 2.78% | 2.72% | 1.40% | 1.00% | 1.49% | 0.45% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 2.77% | 2.95% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GUMI and BSMR have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSMR has higher volatility (0.37%) compared to GUMI (0.25%). In terms of maximum drawdown, GUMI dropped -0.48% vs BSMR's -13.49%.
On 1-year performance, BSMR leads with 3.90% vs 3.17% for GUMI. On fees, GUMI is cheaper at 0.16% per year. On volatility, GUMI has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BSMR has performed better with a 3.90% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GUMI is cheaper with a 0.16% expense ratio, compared with 0.18% for BSMR.
GUMI has the higher dividend yield at 2.77%, compared with 2.72% for BSMR.
They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.16% for GUMI and 0.18% for BSMR.
BSMR currently has the higher Sharpe Ratio (3.12 vs 2.91), 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 GUMI and BSMR
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