MANLX vs. GSMIX
Compare and contrast key facts about BlackRock National Municipal Fund (MANLX) and Goldman Sachs Dynamic Municipal Income Fund (GSMIX).
MANLX is managed by BlackRock. It was launched on Nov 1, 1979. GSMIX is managed by Goldman Sachs. It was launched on Jul 19, 1993.
Performance
MANLX vs. GSMIX - Performance Comparison
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MANLX vs. GSMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MANLX BlackRock National Municipal Fund | -0.46% | 4.54% | 2.49% | 5.94% | -10.89% | 2.27% | 4.28% | 7.50% | 0.61% | 5.42% |
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% |
Returns By Period
In the year-to-date period, MANLX achieves a -0.46% return, which is significantly higher than GSMIX's -0.49% return. Over the past 10 years, MANLX has underperformed GSMIX with an annualized return of 1.96%, while GSMIX has yielded a comparatively higher 2.42% annualized return.
MANLX
- 1D
- 0.10%
- 1M
- -2.56%
- YTD
- -0.46%
- 6M
- 0.81%
- 1Y
- 3.32%
- 3Y*
- 3.25%
- 5Y*
- 0.58%
- 10Y*
- 1.96%
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%
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MANLX vs. GSMIX - Expense Ratio Comparison
MANLX has a 0.44% expense ratio, which is lower than GSMIX's 0.73% expense ratio.
Return for Risk
MANLX vs. GSMIX — Risk / Return Rank
MANLX
GSMIX
MANLX vs. GSMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock National Municipal Fund (MANLX) and Goldman Sachs Dynamic Municipal Income Fund (GSMIX). 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.
| MANLX | GSMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.92 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.13 | 1.26 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.94 | 0.88 | +0.06 |
Martin ratioReturn relative to average drawdown | 3.41 | 3.14 | +0.27 |
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
| MANLX | GSMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.92 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.26 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.62 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.95 | -0.14 |
Correlation
The correlation between MANLX and GSMIX is 0.79, 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
MANLX vs. GSMIX - Dividend Comparison
MANLX's dividend yield for the trailing twelve months is around 3.88%, more than GSMIX's 3.52% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MANLX BlackRock National Municipal Fund | 3.88% | 4.99% | 4.06% | 2.93% | 2.07% | 2.25% | 2.09% | 2.89% | 3.12% | 3.13% | 3.07% | 3.36% |
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% |
Drawdowns
MANLX vs. GSMIX - Drawdown Comparison
The maximum MANLX drawdown since its inception was -23.54%, which is greater than GSMIX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for MANLX and GSMIX.
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Drawdown Indicators
| MANLX | GSMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.54% | -15.43% | -8.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.68% | -4.44% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -16.51% | -14.33% | -2.18% |
Max Drawdown (10Y)Largest decline over 10 years | -16.51% | -14.33% | -2.18% |
Current DrawdownCurrent decline from peak | -2.56% | -2.39% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -3.20% | -2.41% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.25% | +0.03% |
Volatility
MANLX vs. GSMIX - Volatility Comparison
BlackRock National Municipal Fund (MANLX) and Goldman Sachs Dynamic Municipal Income Fund (GSMIX) have volatilities of 0.89% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MANLX | GSMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.88% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.46% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.23% | 4.48% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.12% | 3.64% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.98% | 3.90% | +0.08% |