The takeaway
Goldman Sachs Ultra Short Municipal Income ETF shows a slight seasonal lean over 2 years of data — strongest in November (+0.4%) and softest in April (+0.1%).
Right now
In July, the fund has risen 100% of years, averaging +0.2%, roughly 1.9 pts behind the S&P 500.
The full picture
Goldman Sachs Ultra Short Municipal Income ETF's most dependable month has been November, higher in 2 of 2 years; April has been its least reliable, up just 100% of the time.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Win rate % | ||||||||||||
| Median return % | ||||||||||||
| 2025 | ||||||||||||
| 2024 | — | — | — | — | — | — |
Month by month
The fund's clearest edge over the S&P 500 lands in February (+0.6 pts); it has trailed the market most in July (−1.9 pts).
“vs S&P” is Goldman Sachs Ultra Short Municipal Income ETF’s average for a month minus the S&P 500’s average for that same month — isolating Goldman Sachs Ultra Short Municipal Income ETF’s own seasonal edge from broad market drift.
Reality check
Not enough recent November history to say whether the pattern still holds.
Figures are the typical (median) November return and how often it rose — the last 2 years versus the last 2(the heatmap’s default window). This verdict stays anchored to that 2-year window even if you zoom the chart, so it never disagrees with the badges above.
In plain English
This is a fund you can almost set a calendar by, and November is the anchor — it has closed higher in all 2 Novembers, the steadiest beat on its year.
The strength looks broad-based rather than freakish: its average (+0.4%) and median (+0.4%) sit close together, so no single blow-out year is flattering the figure. Few peers keep such company in November — the typical stock clears it just 62% of the time.
The lift is near-universal — strength runs through almost every month of the year, not one window. At the other end of the calendar, April is the year's quietest corner, essentially flat on average, and the edge isn't year-round — the fund has trailed the S&P 500 in July, November, and April.
For a fund this dependable in November, the sharper question is the rest of the year — outside its strong stretch, the calendar gives far less to lean on. With a short 2-year record, the signal is best held loosely.
Short answers on the fund's best month (November), its worst (April), and whether it really trades seasonally.
Only mildly. The fund's months are fairly even — November is the firmest (+0.4%) and April the softest (+0.1%), a narrow spread that points to weak seasonality rather than a strong calendar effect.
November has been the strongest, averaging +0.4% and closing higher in all 2 years on record since 2024.
It's the weakest month, but it has still averaged a small gain (+0.1%) — quiet rather than genuinely bad.
Explore
These names have the strongest July track records on record — a starting point for comparison.
Before you trade