GMUN vs SCHD
Goldman Sachs Access Municipal Bond ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. GMUN offers more diversification with 277 holdings.
Side-by-Side Comparison
| Metric | GMUN | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.08% | 0.06% | |
| AUM | $10M | $103.7B | |
| Dividend Yield | 3.12% | 3.31% | |
| Holdings | 277 | 104 | |
| YTD Return | -0.72% | +26.21% | |
| 1Y Return | +4.67% | +29.99% | |
| 3Y Return (annualized) | +2.91% | +15.73% | |
| 5Y Return (annualized) | - | +9.67% | |
| Volatility (annualized) | 3.9% | 13.6% | |
| Max Drawdown | -4.3% | -33.4% | |
| Fund Family | Goldman Sachs Asset Management | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 7, 2023 | Oct 20, 2011 |
GMUN vs SCHD Performance
Goldman Sachs Access Municipal Bond ETF (GMUN) 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 GMUN returned +4.67% while SCHD returned +29.99%. Year to date, GMUN is down 0.72% versus a gain of 26.21% for SCHD.
Over three years, GMUN compounded at +2.91% per year against +15.73% for SCHD. Across the full 3-year window we track, SCHD has the edge at +11.50% annualized vs +2.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 3.9% for GMUN. 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 GMUN 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMUN charges 0.08% per year while SCHD charges 0.06%. On a $10,000 position that is $8 vs $6 annually, a gap of $2 per year that compounds over a long holding period. On income, GMUN currently yields 3.12% against 3.31% for SCHD.
Holdings Overlap
GMUN and SCHD share 0 holdings out of 308 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, GMUN or SCHD?
GMUN has an expense ratio of 0.08% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, GMUN or SCHD?
Over the past year GMUN returned +4.67% vs +29.99% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (3 years), GMUN annualized +2.84% vs +11.50% for SCHD. Past performance does not guarantee future results.
Which is riskier, GMUN or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 3.9% for GMUN. Worst drawdown: GMUN -4.3% vs SCHD -33.4%.
Should I hold both GMUN and SCHD?
GMUN and SCHD have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMUN and SCHD?
GMUN and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 308 unique securities.
Which pays a higher dividend, GMUN or SCHD?
GMUN yields 3.12% while SCHD yields 3.31%, so SCHD currently pays the higher dividend yield.
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