Goldman SachsMuni Single StateGCAL · NYSE Arca

Goldman Sachs Dynamic California Municipal Income ETF (GCAL)

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Price: $49.54; —11 Sept 2026
Assets: $186M; Total net assets
Expense ratio: 0.30%; Category 0.62%
Yield: 3.62%; Trailing distributions

1Y return: 1.5%+1.3%; Category 0.3%
3Y CAGR: —; Category 2.6%
5Y CAGR: —; Category -0.5%

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Goldman Sachs Dynamic California Municipal Income ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-2.0%	-1.9%	-1.1%	-0.3%	+1.5%	—	—	—	+2.6%
Muni Single State average	-2.5%	-2.8%	-1.9%	-1.3%	0.3%	2.6%	-0.5%	1.3%	1.1%
Difference	+0.6%	+1.0%	+0.8%	+1.0%	+1.3%	—	—	—	+1.5%

Holdings

The 1 largest positions make up 3.2% of the fund.

Top holdings

Largest holdings by weight
Ticker	Holding	Weight
FTIXX	Goldman Sachs FS Treasury Intms Instl	3.21%

Credit quality

Share of the bonds by rating.

AAA4.0%
AA42.0%
A20.0%
BBB13.0%
BB3.0%
Other18.0%

Asset mix

Bonds96.0%
Cash4.0%

ETF details

Issuer: Goldman Sachs
Category: Fixed Income · Muni Single State
Ticker: GCAL
Exchange: NYSE Arca
Inception: 23 Jul 2024 (2.1 years)
Structure: Exchange Traded Fund
Expense ratio: 0.30% (category 0.62%)
Holdings turnover: 134% (category 53%)
Distribution yield: 3.62%
Beta, 3 years: 0.00
Total net assets: $186M
Average duration: 4.64 years
Average maturity: 9.97 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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