GMUB Fees and Costs — Goldman Sachs Municipal Income ETF
Data updated: 2026-07-24
The net expense ratio is 0.18%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $18 in broker commissions, 0.0001% of average net assets, and portfolio turnover was 154%.
GMUB Fees and Expenses
Annual operating expenses and sales charges of GMUB. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.18% |
| Fee waiver | — |
| Net expense ratio | 0.18% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
GMUB Costs Over Time
On $10,000 invested in GMUB, assuming 5% a year before costs, total costs come to $115 over 5 years, cutting the return by 0.19% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.18%) | $19 | $59 | $104 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $62 | $115 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
GMUB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0001%
- Total broker commissions: $18
- Bought from dealers (principal trades, not a cost): $161.0M
- Portfolio turnover (prospectus): 154%
- Securities lending: none during the year
GMUB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $18 | 100.00% |
GMUB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $27.1M | 22.68% |
| BARCLAYS CAPITAL, INC. | $19.3M | 16.20% |
| TD SECURITIES (USA) LLC | $13.2M | 11.07% |
| WELLS FARGO SECURITIES, LLC | $12.5M | 10.46% |
| RBC CAPITAL MARKETS, LLC | $10.1M | 8.49% |
| FMSBONDS, INC. | $9.7M | 8.10% |
| BOFA SECURITIES, INC. | $7.6M | 6.39% |
| MORGAN STANLEY & CO. LLC | $6.9M | 5.78% |
| U.S. BANCORP INVESTMENTS, INC. | $6.8M | 5.67% |
| STIFEL, NICOLAUS & COMPANY, INC. | $6.2M | 5.16% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.