NYF vs. GUMI
NYF (iShares New York Muni Bond ETF) and GUMI (Goldman Sachs Ultra Short Municipal Income ETF) are both Municipal Bonds funds. NYF is passively managed, while GUMI is actively managed. Over the past year, NYF returned 6.74% vs 3.17% for GUMI. At a 0.33 correlation, their price movements are largely independent. NYF charges 0.25%/yr vs 0.16%/yr for GUMI.
Performance
NYF vs. GUMI - Performance Comparison
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Returns By Period
In the year-to-date period, NYF achieves a 1.63% return, which is significantly higher than GUMI's 1.12% return.
NYF
- 1D
- 0.11%
- 1M
- 0.67%
- YTD
- 1.63%
- 6M
- 1.96%
- 1Y
- 6.74%
- 3Y*
- 3.29%
- 5Y*
- 0.85%
- 10Y*
- 1.83%
GUMI
- 1D
- 0.06%
- 1M
- 0.25%
- YTD
- 1.12%
- 6M
- 1.35%
- 1Y
- 3.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NYF vs. GUMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NYF iShares New York Muni Bond ETF | 1.63% | 3.64% | 0.76% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 1.12% | 3.39% | 1.52% |
Correlation
The correlation between NYF and GUMI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024 | 0.33 |
The correlation between NYF and GUMI shifts across timeframes, from 0.22 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NYF vs. GUMI — Risk / Return Rank
NYF
GUMI
NYF vs. GUMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares New York Muni Bond ETF (NYF) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI). 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.
| NYF | GUMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.64 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 8.90 | -6.45 |
| Martin ratioReturn relative to average drawdown | 8.79 | 37.70 | -28.91 |
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
| NYF | GUMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.44 | 2.91 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 3.32 | -2.85 |
Drawdowns
NYF vs. GUMI - Drawdown Comparison
The maximum NYF drawdown since its inception was -13.12%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for NYF and GUMI.
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Drawdown Indicators
| NYF | GUMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.12% | -0.48% | -12.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -0.36% | -2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.12% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -0.05% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.08% | +0.69% |
Volatility
NYF vs. GUMI - Volatility Comparison
iShares New York Muni Bond ETF (NYF) has a higher volatility of 0.96% compared to Goldman Sachs Ultra Short Municipal Income ETF (GUMI) at 0.25%. This indicates that NYF's price experiences larger fluctuations and is considered to be riskier than GUMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NYF | GUMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.25% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 0.55% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.78% | 1.10% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 0.99% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 0.99% | +3.49% |
NYF vs. GUMI - Expense Ratio Comparison
NYF has a 0.25% expense ratio, which is higher than GUMI's 0.16% 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
NYF vs. GUMI - Dividend Comparison
NYF's dividend yield for the trailing twelve months is around 3.09%, more than GUMI's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 2.77% | 2.95% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NYF iShares New York Muni Bond ETF | 3.09% | 2.99% | 2.77% | 2.36% | 2.04% | 1.85% | 1.98% | 2.19% | 2.48% | 2.46% | 2.43% | 2.60% |
Frequently Asked Questions
NYF and GUMI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NYF has higher volatility (0.96%) compared to GUMI (0.25%). In terms of maximum drawdown, NYF dropped -13.12% vs GUMI's -0.48%.
On 1-year performance, NYF leads with 6.74% 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, NYF has performed better with a 6.74% 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 0.25% for NYF.
NYF has the higher dividend yield at 3.09%, compared with 2.77% for GUMI.
They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.25% for NYF and 0.16% for GUMI.
GUMI currently has the higher Sharpe Ratio (2.91 vs 2.44), 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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