GMUB vs IVV
Goldman Sachs Municipal Income ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. GMUB offers more diversification with 553 holdings.
Side-by-Side Comparison
| Metric | GMUB | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $319M | $907.0B | |
| Dividend Yield | 3.39% | 1.10% | |
| Holdings | 553 | 508 | |
| YTD Return | +1.33% | +14.29% | |
| 1Y Return | +5.46% | +21.79% | |
| 3Y Return (annualized) | - | +22.19% | |
| 5Y Return (annualized) | - | +13.28% | |
| Volatility (annualized) | 3.1% | 15.1% | |
| Max Drawdown | -3.4% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | May 15, 2000 |
GMUB vs IVV Performance
Goldman Sachs Municipal Income ETF (GMUB) 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 GMUB returned +5.46% while IVV returned +21.79%. Year to date, GMUB is up 1.33% versus a gain of 14.29% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.1% for GMUB. 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 -3.4% for GMUB 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMUB charges 0.18% per year while IVV charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, GMUB currently yields 3.39% against 1.10% for IVV.
Holdings Overlap
GMUB and IVV share 0 holdings out of 660 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, GMUB or IVV?
GMUB has an expense ratio of 0.18% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, GMUB or IVV?
Over the past year GMUB returned +5.46% vs +21.79% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), GMUB annualized +3.94% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, GMUB or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.1% for GMUB. Worst drawdown: GMUB -3.4% vs IVV -56.5%.
Should I hold both GMUB and IVV?
GMUB and IVV have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMUB and IVV?
GMUB and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 660 unique securities.
Which pays a higher dividend, GMUB or IVV?
GMUB yields 3.39% while IVV yields 1.10%, so GMUB currently pays the higher dividend yield.
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