GMUB vs SCHD
Goldman Sachs Municipal Income ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. GMUB offers more diversification with 152 holdings.
Side-by-Side Comparison
| Metric | GMUB | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.06% | |
| AUM | $303M | $103.7B | |
| Dividend Yield | 3.25% | 3.31% | |
| Holdings | 440 | 104 | |
| YTD Return | +0.90% | +25.58% | |
| 1Y Return | +4.97% | +31.06% | |
| 3Y Return (annualized) | - | +15.55% | |
| 5Y Return (annualized) | - | +9.61% | |
| Volatility (annualized) | 3.1% | 13.6% | |
| Max Drawdown | -3.4% | -33.4% | |
| Fund Family | Goldman Sachs Asset Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 23, 2024 | Oct 20, 2011 |
GMUB vs SCHD Performance
Goldman Sachs Municipal Income ETF (GMUB) is a ETF from Goldman Sachs Asset Management and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year GMUB returned +4.97% while SCHD returned +31.06%. Year to date, GMUB is up 0.90% versus a gain of 25.58% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% 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 -33.4% for SCHD. 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMUB charges 0.18% per year while SCHD charges 0.06%. On a $10,000 position that is $18 vs $6 annually, a gap of $12 per year that compounds over a long holding period. On income, GMUB currently yields 3.25% against 3.31% for SCHD.
Holdings Overlap
GMUB and SCHD share 0 holdings out of 252 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 SCHD?
GMUB has an expense ratio of 0.18% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, GMUB or SCHD?
Over the past year GMUB returned +4.97% vs +31.06% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (2 years), GMUB annualized +3.74% vs +11.46% for SCHD. Past performance does not guarantee future results.
Which is riskier, GMUB or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 3.1% for GMUB. Worst drawdown: GMUB -3.4% vs SCHD -33.4%.
Should I hold both GMUB and SCHD?
GMUB and SCHD have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMUB and SCHD?
GMUB and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 252 unique securities.
Which pays a higher dividend, GMUB or SCHD?
GMUB yields 3.25% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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