GMNY vs VYM
Goldman Sachs Dynamic New York Municipal Income ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | GMNY | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.04% | |
| AUM | $40M | $81.6B | |
| Dividend Yield | 3.33% | 2.24% | |
| Holdings | 200 | 616 | |
| YTD Return | +1.19% | +15.34% | |
| 1Y Return | +5.37% | +23.24% | |
| 3Y Return (annualized) | - | +19.22% | |
| 5Y Return (annualized) | - | +12.21% | |
| Volatility (annualized) | 3.3% | 14.6% | |
| Max Drawdown | -4.3% | -58.8% | |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | Nov 10, 2006 |
GMNY vs VYM Performance
Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) is a ETF from Goldman Sachs Asset Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year GMNY returned +5.37% while VYM returned +23.24%. Year to date, GMNY is up 1.19% versus a gain of 15.34% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% 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 -58.8% for VYM. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMNY charges 0.30% per year while VYM charges 0.04%. On a $10,000 position that is $30 vs $4 annually, a gap of $26 per year that compounds over a long holding period. On income, GMNY currently yields 3.33% against 2.24% for VYM.
Holdings Overlap
GMNY and VYM share 0 holdings out of 666 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 VYM?
GMNY has an expense ratio of 0.30% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, GMNY or VYM?
Over the past year GMNY returned +5.37% vs +23.24% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (2 years), GMNY annualized +2.72% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, GMNY or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 3.3% for GMNY. Worst drawdown: GMNY -4.3% vs VYM -58.8%.
Should I hold both GMNY and VYM?
GMNY and VYM have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMNY and VYM?
GMNY and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 666 unique securities.
Which pays a higher dividend, GMNY or VYM?
GMNY yields 3.33% while VYM yields 2.24%, so GMNY currently pays the higher dividend yield.
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