GMNY vs IVV
Goldman Sachs Dynamic New York Municipal Income ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | GMNY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.03% | |
| AUM | $40M | $907.0B | |
| Dividend Yield | 3.33% | 1.10% | |
| Holdings | 200 | 508 | |
| YTD Return | +1.19% | +12.71% | |
| 1Y Return | +5.37% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 3.3% | 15.1% | |
| Max Drawdown | -4.3% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | May 15, 2000 |
GMNY vs IVV Performance
Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) is a ETF from Goldman Sachs Asset Management and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GMNY returned +5.37% while IVV returned +21.89%. Year to date, GMNY is up 1.19% versus a gain of 12.71% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.3% for GMNY. 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 -4.3% for GMNY and -56.5% for IVV. 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
GMNY charges 0.30% per year while IVV 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, GMNY currently yields 3.33% against 1.10% for IVV.
Holdings Overlap
GMNY and IVV share 0 holdings out of 568 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, GMNY or IVV?
GMNY has an expense ratio of 0.30% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, GMNY or IVV?
Over the past year GMNY returned +5.37% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), GMNY annualized +2.72% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, GMNY or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.3% for GMNY. Worst drawdown: GMNY -4.3% vs IVV -56.5%.
Should I hold both GMNY and IVV?
GMNY and IVV 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 GMNY and IVV?
GMNY and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 568 unique securities.
Which pays a higher dividend, GMNY or IVV?
GMNY yields 3.33% while IVV yields 1.10%, so GMNY currently pays the higher dividend yield.
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