Goldman Sachs Ultra Short Municipal Income ETF
GUMI
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- Goldman Sachs Ultra Short Municipal Income ETF (GUMI) is an actively managed exchange-traded fund that seeks a high level of current income, consistent with relatively low volatility of principal, exempt from regular federal income tax. The fund invests at least 80% of its net assets plus any borrowings for investment purposes in fixed income securities issued by or on behalf of states, territories, possessions of the United States, the District of Columbia, and their political subdivisions, agencies, and instrumentalities, with a focus on shorter-dated maturities across investment grade municipal bonds, fixed rate and floating rate structures; it may also obtain exposure to municipal bonds and U.S. government securities through affiliated or unaffiliated investment companies, including exchange-traded funds. The fund targets an average portfolio duration of approximately 0.5 years, emphasizing municipal tax-exempt securities comprising the majority of its holdings, such as public finance authority certificates and solid waste disposal revenue bonds, while maintaining a net expense ratio of 0.16%. Launched on July 23, 2024, by Goldman Sachs Asset Management, a division of Goldman Sachs Group Inc. headquartered in New York, GUMI operates primarily in the U.S. municipal bond market, serving investors seeking tax-efficient, low-volatility income within the Muni National Short category. In July 2024, Goldman Sachs Asset Management expanded its fixed income ETF lineup with the launch of GUMI alongside three sister funds—the Goldman Sachs Municipal Income ETF (GMUB), Dynamic California Municipal Income ETF (GCAL), and Dynamic New York Municipal Income ETF (GMNY)—to provide cost-efficient access to municipal bonds and leverage its three-decade track record in disciplined muni risk management.