GCAL vs VOO
Goldman Sachs Dynamic California Municipal Income ETF vs Vanguard S&P 500 ETF
Which is better, GCAL or VOO?
Municipal California against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GCAL | VOO |
|---|---|---|
| Expense Ratio | 0.30% | 0.03%Best |
| AUM | $185M | $997.4B |
| Dividend Yield | 3.62% | 1.04% |
| Holdings | 342 | 509 |
| YTD Return | -1.32% | +13.31%Best |
| 1Y Return | +0.21% | +17.07%Best |
| 3Y Return (annualized) | - | +22.72% |
| 5Y Return (annualized) | - | +13.19% |
| Volatility (annualized) | 3.6%Best | 12.1% |
| Max Drawdown | -4.4%Best | -18.7% |
| $10,000 over 2.2 years | $10,477 | $14,755Best |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) |
| Category | Fixed Income | Equity |
| Style | Municipal California | Large Cap Blend |
| Inception | Jul 23, 2024 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 25, 2024 to Sep 23, 2026 (2.2 years).
GCAL vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.2 years both funds cover.
GCAL vs VOO Performance
Goldman Sachs Dynamic California Municipal Income ETF (GCAL) is an ETF from Goldman Sachs Asset Management and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year GCAL returned +0.21% while VOO returned +17.07%. Year to date, GCAL is down 1.32% versus a gain of 13.31% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 12.1% compared with 3.6% for GCAL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -4.4% for GCAL and -18.7% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GCAL charges 0.30% per year while VOO charges 0.03%. On a $10,000 position that is $30 vs $3 annually, a gap of $27 per year that compounds over a long holding period. On income, GCAL currently yields 3.62% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 82 holdings in GCAL and 494 in VOO, totalling 26.7% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 82 positions we hold weights for in GCAL and 494 in VOO, against full books of 342 and 509.
You are not choosing between two funds in isolation.
Whichever of GCAL and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GCAL or VOO?
GCAL has an expense ratio of 0.30% while VOO charges 0.03%. VOO is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, GCAL or VOO?
Over the past year GCAL returned +0.21% vs +17.07% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), GCAL annualized +2.14% vs +19.34% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GCAL or VOO?
VOO has been the more volatile fund at 12.1% annualized versus 3.6% for GCAL. Worst drawdown: GCAL -4.4% vs VOO -18.7%.
Should I hold both GCAL and VOO?
GCAL and VOO have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GCAL or VOO?
GCAL yields 3.62% while VOO yields 1.04%, so GCAL currently pays the higher dividend yield.
Is VOO better than GCAL?
VOO has a lower expense ratio. VOO led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.