Goldman Sachs Municipal Income ETF (GMUB) Performance
GMUB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.2% since Dec 31, 2025
- 1 year
- +1.0% total return
- Since first price
- +7.3% since 2024
GMUB trailing returns vs AGG, TLT, SPY
| Period | GMUB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.8% | +1.5% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.3% | −1.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.0% | −2.7% | −1.5% | −3.8% | +7.8% |
| YTD | +0.2% | −2.3% | −1.0% | −3.4% | +12.3% |
| 1 year | +1.0% | −2.4% | −1.1% | −6.9% | +14.4% |
| Since inceptionJul 25, 2024 | +7.3% | −0.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GMUB vs AGG
From Jul 25, 2024: GMUB grew to $10,735, AGG to $10,698.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GMUB returns by calendar year
1 of 1 full years positive. Best 2025 (+6.0%), worst 2025 (+6.0%). 2026 is year to date.
GMUB annual returns table
| Year | GMUB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.2% | −5.3% | −1.0% | −3.4% | +12.3% |
| 2025 | +6.0% | −3.3% | +7.2% | +4.3% | +17.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GMUB largest drawdowns
Now 1.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 6, 2026 | −5.3% | Sep 29, 2026 | not yet | 3 months | 4 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
GMUB risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +2.0% |
| Volatility (annualized) | 3.9% |
| Sharpe ratio | -0.52 |
| Sortino ratio | -0.59 |
| Best month | +1.7% |
| Worst month | −3.2% |
| Best 12 months | +7.2% |
| Worst 12 months | −0.5% |
| Positive months | 69% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GMUB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −0.5% | +5.3% | +7.2% | 94% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
GMUB performance overview
Goldman Sachs Municipal Income ETF (GMUB) returned +1.0% over the past year, with distributions reinvested. Since its first recorded price on Jul 25, 2024 it has returned +7.3%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −5.3%, from Jul 6, 2026 to Sep 29, 2026; the fund has not yet regained that high. Volatility has been 3.9% a year.
Related: GMUB chart, GMUB dividends, GMUB bond profile. See the GMUB overview for the latest quote and fund facts.
GMUB performance FAQ
What is the GMUB return over the past year?
GMUB returned +1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.4%.
How much would $10,000 invested in GMUB be worth?
$10,000 invested in GMUB at its first recorded close on July 25, 2024 would be worth about $10,735 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of GMUB?
The largest peak-to-trough decline was −5.3% between July 6, 2026 and September 29, 2026. It has not yet recovered to that high; it is 1.9% below its peak.
How volatile is GMUB?
Over the past history GMUB had an annualized volatility of 3.9% and a Sharpe ratio of -0.52 (excess return over 1–3 month T-bills per unit of risk).