PUSH vs. GMUN

Last updated Jul 15, 2026

PUSH (PGIM Ultra Short Municipal Bond ETF) and GMUN (Goldman Sachs Community Municipal Bond ETF) are both Municipal Bonds funds. PUSH is actively managed, while GMUN is passively managed. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

PUSH vs. GMUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Ultra Short Municipal Bond ETF (PUSH) and Goldman Sachs Community Municipal Bond ETF (GMUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PUSH

• 1D: 0.06%
• 1M: 0.35%
• 6M: 1.45%
• YTD: 1.66%
• 1Y: 3.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMUN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PUSH vs. GMUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PUSH PGIM Ultra Short Municipal Bond ETF	1.66%	4.16%	1.74%
GMUN Goldman Sachs Community Municipal Bond ETF	-0.34%	5.92%	1.62%

Correlation

The correlation between PUSH and GMUN is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024	0.38

The correlation between PUSH and GMUN shifts across timeframes, from 0.20 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PUSH vs. GMUN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PUSH

PUSH Risk / Return Rank: 93
PUSH Sharpe Ratio Rank: 88
PUSH Sortino Ratio Rank: 91
PUSH Omega Ratio Rank: 96
PUSH Calmar Ratio Rank: 96
PUSH Martin Ratio Rank: 92

GMUN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PUSH vs. GMUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Ultra Short Municipal Bond ETF (PUSH) and Goldman Sachs Community Municipal Bond ETF (GMUN). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PUSH	GMUN	Difference
Sharpe ratio: Return per unit of total volatility	2.29	—	—
Sortino ratio: Return per unit of downside risk	3.45	—	—
Omega ratio: Gain probability vs. loss probability	1.62	—	—
Calmar ratio: Return relative to maximum drawdown	6.97	—	—
Martin ratio: Return relative to average drawdown	17.28	—	—

Drawdowns

Drawdown Indicators

	PUSH	GMUN	Difference
Max Drawdown Largest peak-to-trough decline	-0.85%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.50%	—	—
Current Drawdown Current decline from peak	-0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.10%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	—	—

Volatility

Volatility by Period

	PUSH	GMUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.28%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	—	—

PUSH vs. GMUN - Expense Ratio Comparison

Both PUSH and GMUN have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PUSH vs. GMUN - Dividend Comparison

PUSH's dividend yield for the trailing twelve months is around 3.21%, while GMUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
GMUN Goldman Sachs Community Municipal Bond ETF	2.87%	2.94%	3.22%	2.20%
PUSH PGIM Ultra Short Municipal Bond ETF	3.21%	3.45%	1.86%	0.00%

Frequently Asked Questions

Can I hold both PUSH and GMUN in my portfolio?

PUSH and GMUN have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PUSH or GMUN?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PUSH or GMUN?

PUSH and GMUN have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, PUSH or GMUN?

PUSH has the higher dividend yield at 3.21%, compared with 2.87% for GMUN.

What is the main difference between PUSH and GMUN?

They also come from different issuers: PGIM and Goldman Sachs.