ETF Evaluator:
Goldman Sachs Dynamic New Yor Mun IncETF ()
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(as of Aug 26)
Best Performing in Muni New York Intermediate Over the Last Year
| 5.3% | Goldman Sachs Dynamic New Yor Mun IncETF (GMNY) |
| 5.0% | Vanguard New York Tx-Exm Bd ETF (MUNY) |
| 4.9% | Muni New York Intermediate () |
| 4.4% | JPMorgan New York Tax Free Bond ETF (JTNY) |
Risk
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Risk
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ETF Details
Goldman Sachs Dynamic New Yor Mun IncETF Overview
Goldman Sachs Dynamic New Yor Mun IncETF (GMNY) is an actively managed Municipal Bond Muni New York Intermediate exchange-traded fund (ETF). Goldman Sachs launched the ETF in 2024.
The investment seeks a high level of current income that is exempt from regular federal income tax and New York State and City personal income taxes.
The fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in fixed income securities issued by or on behalf of the state of New York and its political subdivisions, agencies and instrumentalities thereof and other states, territories and possessions of the United States. The fund is non-diversified.
About Goldman Sachs Dynamic New Yor Mun IncETF (GMNY)
There are 5 members of the management team with an average tenure of 2.02 years: Joseph Wenzel (2024), David Westbrook (2024), Todd Henry (2024), Sylvia Yeh (2024) and Scott Diamond (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg Muni Qty Interm NY TR USD index with a weighting of 100%. Goldman Sachs Dynamic New Yor Mun IncETF has 201 securities in its portfolio. The top 10 holdings constitute 15.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Goldman Sachs Dynamic New Yor Mun IncETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Goldman Sachs Dynamic New Yor Mun IncETF has 13.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.6% (81.5% domestic bond, 13.1% foreign bond and 0.0% convertible bond). Goldman Sachs Dynamic New Yor Mun IncETF has 5.4% of the portfolio in cash.
Assets Under Management
The fund has $39 million in total assets, which is below the $321 million average for the Muni New York Intermediate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GMNY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goldman Sachs Dynamic New Yor Mun IncETF expense ratio is below average compared to funds in the Muni New York Intermediate category. Goldman Sachs Dynamic New Yor Mun IncETF has an expense ratio of 0.30%, which is 23% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Goldman Sachs Dynamic New Yor Mun IncETF has a portfolio turnover rate of 104%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 53% for the Muni New York Intermediate category.
Recently, in the month of July 2026, Goldman Sachs Dynamic New Yor Mun IncETF returned -1.3%, which earned it a grade of A, as the Muni New York Intermediate category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Goldman Sachs Dynamic New Yor Mun IncETF has a trailing yield of 3.33%, which is above the 3.24% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Goldman Sachs Dynamic New Yor Mun IncETF Grades
Year to date, the ETF has returned 1.0%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 5.3% over the past year (grade of A).
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GMNY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GMNY Return (NAV) | -1.3% | -0.2% | 5.3% | na | na | na |
| GMNY Return (Price) | -1.2% | -0.1% | 5.3% | na | na | na |
| NAV +/- Price Return | -0.169% | -0.045% | -0.088% | na | na | na |
| Muni New York Intermediate Avg | -1.6% | -0.5% | 4.9% | 2.6% | 0.6% | 1.5% |
| GMNY Grade (NAV) | A | A | A | na | na | na |
| +/- Category (NAV) | 0.2% | 0.3% | 0.4% | na | na | na |
| GMNY Tax-Cost Ratio | na | na | 0.0% | na | na | na |
GMNY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GMNY Return (NAV) | 1.0% | 3.7% | na | na | na | na | na | na | na | na | na |
| GMNY Return (Price) | 1.0% | 3.8% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.029% | 0.038% | na | na | na | na | na | na | na | na | na |
| Muni New York Intermediate Avg | 0.6% | 3.4% | 1.5% | 4.8% | -6.0% | 0.7% | 3.6% | 6.0% | 0.9% | 3.0% | -0.1% |
| GMNY Grade (NAV) | A | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.4% | 0.2% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 3.3% |
| Total Assets: | $ 40 Mil |
| Share Class Assets: | $ 40 Mil |
| Turnover: | 104.0% |
| Expense Ratio: | 0.30% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Muni Qty Interm NY TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.0 years | |||
| Average Tenure: 2.0 years | |||
| Managers (Year): Wenzel Joseph (2024), Westbrook David (2024), Henry Todd (2024), Yeh Sylvia (2024), Diamond Scott (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 201 |
| % in Top 10 Holdings: | 15.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 13.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 81.5% |
| Foreign Bond: | 13.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-621-2550 |
| Website: | am.gs.com |
| Inception Date: | July 23, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.30% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.24% |
