GMUB vs QQQ
Goldman Sachs Municipal Income ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ delivered stronger 1-year returns. GMUB offers more diversification with 553 holdings.
Side-by-Side Comparison
| Metric | GMUB | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.18% | |
| AUM | $319M | $496.3B | |
| Dividend Yield | 3.39% | 0.44% | |
| Holdings | 553 | 108 | |
| YTD Return | +1.11% | +16.64% | |
| 1Y Return | +5.30% | +27.27% | |
| 3Y Return (annualized) | - | +25.96% | |
| 5Y Return (annualized) | - | +14.54% | |
| Volatility (annualized) | 3.1% | 30.6% | |
| Max Drawdown | -3.4% | -83.0% | |
| Fund Family | Goldman Sachs Asset Management | Invesco (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | Mar 10, 1999 |
GMUB vs QQQ Performance
Goldman Sachs Municipal Income ETF (GMUB) 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 GMUB returned +5.30% while QQQ returned +27.27%. Year to date, GMUB is up 1.11% 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 3.1% 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 -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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMUB charges 0.18% per year while QQQ charges 0.18%. On a $10,000 position that is $18 vs $18 annually. On income, GMUB currently yields 3.39% against 0.44% for QQQ.
Holdings Overlap
GMUB and QQQ share 0 holdings out of 257 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 QQQ?
GMUB has an expense ratio of 0.18% while QQQ charges 0.18%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, GMUB or QQQ?
Over the past year GMUB returned +5.30% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), GMUB annualized +3.80% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, GMUB or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 3.1% for GMUB. Worst drawdown: GMUB -3.4% vs QQQ -83.0%.
Should I hold both GMUB and QQQ?
GMUB and QQQ have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMUB and QQQ?
GMUB and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 257 unique securities.
Which pays a higher dividend, GMUB or QQQ?
GMUB yields 3.39% while QQQ yields 0.44%, so GMUB currently pays the higher dividend yield.
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