GCAL vs VTI
Goldman Sachs Dynamic California Municipal Income ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | GCAL | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $180M | $666.9B | |
| Dividend Yield | 3.42% | 1.07% | |
| Holdings | 342 | 3,543 | |
| YTD Return | +1.30% | +12.65% | |
| 1Y Return | +5.24% | +21.39% | |
| 3Y Return (annualized) | - | +21.54% | |
| 5Y Return (annualized) | - | +12.11% | |
| Volatility (annualized) | 3.3% | 15.3% | |
| Max Drawdown | -4.4% | -56.6% | |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | May 24, 2001 |
GCAL vs VTI Performance
Goldman Sachs Dynamic California Municipal Income ETF (GCAL) is a ETF from Goldman Sachs Asset Management and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year GCAL returned +5.24% while VTI returned +21.39%. Year to date, GCAL is up 1.30% versus a gain of 12.65% for VTI.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.3% 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 -56.6% for VTI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GCAL charges 0.30% per year while VTI 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 3.42% against 1.07% for VTI.
Holdings Overlap
GCAL and VTI share 0 holdings out of 2870 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GCAL or VTI?
GCAL has an expense ratio of 0.30% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, GCAL or VTI?
Over the past year GCAL returned +5.24% vs +21.39% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (2 years), GCAL annualized +3.54% vs +8.07% for VTI. Past performance does not guarantee future results.
Which is riskier, GCAL or VTI?
VTI has been the more volatile fund at 15.3% annualized versus 3.3% for GCAL. Worst drawdown: GCAL -4.4% vs VTI -56.6%.
Should I hold both GCAL and VTI?
GCAL and VTI have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GCAL and VTI?
GCAL and VTI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2870 unique securities.
Which pays a higher dividend, GCAL or VTI?
GCAL yields 3.42% while VTI yields 1.07%, so GCAL currently pays the higher dividend yield.
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