SMB vs. GUMI
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and Goldman Sachs Ultra Short Municipal Income ETF (GUMI).
SMB and GUMI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. GUMI is an actively managed fund by Goldman Sachs. It was launched on Jul 23, 2024.
Performance
SMB vs. GUMI - Performance Comparison
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SMB vs. GUMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMB VanEck Short Muni ETF | -0.17% | 4.61% | 1.13% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 0.67% | 3.39% | 1.52% |
Returns By Period
In the year-to-date period, SMB achieves a -0.17% return, which is significantly lower than GUMI's 0.67% return.
SMB
- 1D
- 0.03%
- 1M
- -0.85%
- YTD
- -0.17%
- 6M
- 0.63%
- 1Y
- 3.54%
- 3Y*
- 3.00%
- 5Y*
- 1.08%
- 10Y*
- 1.50%
GUMI
- 1D
- -0.04%
- 1M
- 0.08%
- YTD
- 0.67%
- 6M
- 1.49%
- 1Y
- 3.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SMB vs. GUMI - Expense Ratio Comparison
SMB has a 0.20% 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%.
Return for Risk
SMB vs. GUMI — Risk / Return Rank
SMB
GUMI
SMB vs. GUMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) 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.
| SMB | GUMI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.51 | 2.82 | -1.31 |
Sortino ratioReturn per unit of downside risk | 1.94 | 4.39 | -2.45 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.62 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 6.88 | -4.59 |
Martin ratioReturn relative to average drawdown | 8.70 | 29.42 | -20.73 |
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
| SMB | GUMI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 2.82 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 3.32 | -2.90 |
Correlation
The correlation between SMB and GUMI is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SMB vs. GUMI - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.70%, less than GUMI's 2.81% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.70% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
GUMI Goldman Sachs Ultra Short Municipal Income ETF | 2.81% | 2.95% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMB vs. GUMI - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than GUMI's maximum drawdown of -0.48%. Use the drawdown chart below to compare losses from any high point for SMB and GUMI.
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Drawdown Indicators
| SMB | GUMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -0.48% | -12.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -0.48% | -1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | — | — |
Current DrawdownCurrent decline from peak | -0.96% | -0.04% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -0.05% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.11% | +0.32% |
Volatility
SMB vs. GUMI - Volatility Comparison
VanEck Short Muni ETF (SMB) has a higher volatility of 0.58% compared to Goldman Sachs Ultra Short Municipal Income ETF (GUMI) at 0.18%. This indicates that SMB'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
| SMB | GUMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.18% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 0.75% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 1.15% | +1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 1.01% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 1.01% | +3.26% |