GMNY vs QQQ
Goldman Sachs Dynamic New York Municipal Income ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. GMNY offers more diversification with 200 holdings.
Side-by-Side Comparison
| Metric | GMNY | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $40M | $496.3B | |
| Dividend Yield | 3.33% | 0.44% | |
| Holdings | 200 | 108 | |
| YTD Return | +1.19% | +16.64% | |
| 1Y Return | +5.37% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 3.3% | 30.6% | |
| Max Drawdown | -4.3% | -83.0% | |
| Fund Family | Goldman Sachs Asset Management | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | Mar 10, 1999 |
GMNY vs QQQ Performance
Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) is a ETF from Goldman Sachs Asset Management and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year GMNY returned +5.37% while QQQ returned +27.27%. Year to date, GMNY is up 1.19% versus a gain of 16.64% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% 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 -83.0% for QQQ. 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMNY charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, GMNY currently yields 3.33% against 0.44% for QQQ.
Holdings Overlap
GMNY and QQQ share 0 holdings out of 165 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 QQQ?
GMNY has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, GMNY or QQQ?
Over the past year GMNY returned +5.37% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), GMNY annualized +2.72% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, GMNY or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 3.3% for GMNY. Worst drawdown: GMNY -4.3% vs QQQ -83.0%.
Should I hold both GMNY and QQQ?
GMNY and QQQ have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMNY and QQQ?
GMNY and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 165 unique securities.
Which pays a higher dividend, GMNY or QQQ?
GMNY yields 3.33% while QQQ yields 0.44%, so GMNY currently pays the higher dividend yield.
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