GUMI vs SPY
Goldman Sachs Ultra Short Municipal Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GUMI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.16% | 0.09% | |
| AUM | $65M | $821.1B | |
| Dividend Yield | 2.73% | 1.01% | |
| Holdings | 188 | 505 | |
| YTD Return | +1.60% | +12.68% | |
| 1Y Return | +2.84% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 0.4% | 15.3% | |
| Max Drawdown | -0.5% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 25, 2024 | Jan 22, 1993 |
GUMI vs SPY Performance
Goldman Sachs Ultra Short Municipal Income ETF (GUMI) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GUMI returned +2.84% while SPY returned +21.82%. Year to date, GUMI is up 1.60% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 0.4% for GUMI. 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 -0.5% for GUMI and -56.5% for SPY. 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 0.10. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GUMI charges 0.16% per year while SPY charges 0.09%. On a $10,000 position that is $16 vs $9 annually, a gap of $7 per year that compounds over a long holding period. On income, GUMI currently yields 2.73% against 1.01% for SPY.
Holdings Overlap
GUMI and SPY share 0 holdings out of 541 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, GUMI or SPY?
GUMI has an expense ratio of 0.16% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, GUMI or SPY?
Over the past year GUMI returned +2.84% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), GUMI annualized +3.16% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GUMI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.4% for GUMI. Worst drawdown: GUMI -0.5% vs SPY -56.5%.
Should I hold both GUMI and SPY?
GUMI and SPY have a monthly-return correlation of 0.10, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GUMI and SPY?
GUMI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 541 unique securities.
Which pays a higher dividend, GUMI or SPY?
GUMI yields 2.73% while SPY yields 1.01%, so GUMI currently pays the higher dividend yield.
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