Goldman Sachs Dynamic New York Municipal Income ETF

Frequently Asked Questions About GMNY

What does GMNY invest in?

The Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) is structured to provide investors with a substantial stream of ongoing income. A key advantage of this fund is that the income it generates is not subject to regular federal income tax, and it is also exempt from New York State and City personal income taxes.

What is the expense ratio of GMNY?

Goldman Sachs Dynamic New York Municipal Income ETF (GMNY) charges an expense ratio of 0.35%. This is the annual fee deducted from fund assets to cover management and operations.

What is GMNY's distribution yield?

GMNY's trailing-twelve-month yield is 3.47%, calculated from the sum of distributions over the past year divided by the current price.

How does GMNY's covered-call strategy work?

GMNY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside — when the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

What is the duration of GMNY?

Effective duration measures GMNY's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. GMNY's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of GMNY?

GMNY's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.