GCAL vs TOGA

Comparison between GOLDMAN SACHS DYNAMIC CALIFORNIA MUNICIPAL INCOME ETF (GCAL, ETF) and TREMBLANT GLOBAL ETF (TOGA, ETF).

GCAL vs TOGA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GCAL(ETF)	TOGA(ETF)
Net Assets	$165M	$165M
Expense Ratio	0.30%	0.69%
Max Drawdown	5.11%	28.50%
Sharpe Ratio	1.14	-0.65
5Y Beta	0.01	1.03
P/E Ratio	N/A	42.88
Forward P/E	N/A	29.18
PEG Ratio	N/A	0.24
Debt to Equity	N/A	-40.74%
P/S Ratio	N/A	3.21
P/B Ratio	N/A	6.75

Net Assets

GCAL

$165M

Winner

TOGA

$165M

Expense Ratio

Winner

GCAL

0.30%

TOGA

0.69%

Max Drawdown

Winner

GCAL

5.11%

TOGA

28.50%

Sharpe Ratio

Winner

GCAL

1.14

TOGA

-0.65

5Y Beta

Winner

GCAL

0.01

TOGA

1.03

P/E Ratio

GCAL

N/A

TOGA

42.88

Forward P/E

GCAL

N/A

TOGA

29.18

PEG Ratio

GCAL

N/A

TOGA

0.24

Debt to Equity

GCAL

N/A

TOGA

-40.74%

P/S Ratio

GCAL

N/A

TOGA

3.21

P/B Ratio

GCAL

N/A

TOGA

6.75

GCAL vs TOGA - Historical Returns

Returns include dividend reinvestment.

Period	GCAL	TOGA
1 month	+0.62%	+0.15%
3 months	+0.37%	-2.42%
6 months	+2.05%	-13.64%
1 year	+6.72%	-11.50%
Max(CAGR)	+4.21%	+6.87%

Winner

GCAL

+0.62%

TOGA

+0.15%

Winner

GCAL

+0.37%

TOGA

-2.42%

Winner

GCAL

+2.05%

TOGA

-13.64%

Winner

GCAL

+6.72%

TOGA

-11.50%

Max(CAGR)

GCAL

+4.21%

Winner

TOGA

+6.87%

GCAL vs TOGA - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

Year	GCAL	TOGA
2026	+1.52%	-14.02%
2025	+4.44%	+13.83%
2024	+1.65%	+17.42%

GCAL vs TOGA Drawdown Comparison

The maximum drawdown for GCAL was -4.39%, occurring on Apr 11, 2025. Recovery took 130 trading sessions.

The maximum drawdown for TOGA was -28.50%, occurring on Mar 27, 2026. This drawdown has not yet recovered.

The current GCAL drawdown is -0.35%. The current TOGA drawdown is -19.59%.

Rank	GCAL	TOGA
#1	-4.39% Mar 3, 2025 - Sep 8, 2025	-28.50% Sep 18, 2025 - Mar 27, 2026
#2	-2.24% Feb 27, 2026 - Mar 26, 2026	-21.81% Feb 18, 2025 - May 16, 2025
#3	-1.97% Dec 4, 2024 - Feb 25, 2025	-7.92% Dec 6, 2024 - Feb 4, 2025
#4	-1.92% Oct 1, 2024 - Dec 2, 2024	-5.60% Jul 16, 2024 - Aug 15, 2024
#5	-0.80% Aug 5, 2024 - Sep 4, 2024	-5.46% Jul 23, 2025 - Sep 11, 2025
#6	-0.45% Sep 17, 2025 - Oct 8, 2025	-3.63% Jun 6, 2025 - Jun 24, 2025
#7	-0.40% Nov 11, 2025 - Nov 25, 2025	-3.01% May 20, 2024 - Jul 16, 2024
#8	-0.36% Jan 16, 2026 - Jan 30, 2026	-2.81% May 16, 2025 - Jun 5, 2025
#9	-0.35% Nov 26, 2025 - Dec 18, 2025	-2.61% Aug 23, 2024 - Sep 13, 2024
#10	-0.27% Oct 24, 2025 - Nov 10, 2025	-2.20% Nov 13, 2024 - Nov 20, 2024
#11	-0.16% Sep 16, 2024 - Sep 27, 2024	-2.10% Sep 26, 2024 - Oct 10, 2024
#12	-0.14% Dec 24, 2025 - Dec 29, 2025	-2.07% Jul 10, 2025 - Jul 21, 2025
#13	-0.10% Oct 22, 2025 - Oct 24, 2025	-1.83% Feb 4, 2025 - Feb 13, 2025
#14	-0.09% Feb 25, 2025 - Feb 28, 2025	-1.76% Oct 22, 2024 - Nov 5, 2024
#15	-0.07% Oct 14, 2025 - Oct 16, 2025	-1.01% Jun 24, 2025 - Jun 27, 2025