GVIP vs MUA

Comparison between GOLDMAN SACHS HEDGE INDUSTRY VIP ETF (GVIP, ETF) and BlackRock Muniassets Fund Inc (MUA, ETF).

5-Year PerformanceGVIP has outperformed MUA, delivering a return of +12.5% compared to -3.0%

GVIP vs MUA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GVIP(ETF)	MUA(ETF)
Net Assets	$570M	$567M
Expense Ratio	0.45%	N/A
Max Drawdown	37.10%	50.06%
Sharpe Ratio	1.39	0.65
5Y Beta	1.20	0.29
P/E Ratio	65.11	N/A
Forward P/E	23.57	N/A
PEG Ratio	0.30	N/A
5Y Dividends CAGR	48.90%	2.47%
5Y EPS CAGR	21.58%	N/A
P/S Ratio	4.33	N/A
P/B Ratio	6.99	N/A

Net Assets

Winner

GVIP

$570M

MUA

$567M

Expense Ratio

GVIP

0.45%

MUA

N/A

Max Drawdown

Winner

GVIP

37.10%

MUA

50.06%

Sharpe Ratio

Winner

GVIP

1.39

MUA

0.65

5Y Beta

GVIP

1.20

Winner

MUA

0.29

P/E Ratio

GVIP

65.11

MUA

N/A

Forward P/E

GVIP

23.57

MUA

N/A

PEG Ratio

GVIP

0.30

MUA

N/A

5Y Dividends CAGR

Winner

GVIP

48.90%

MUA

2.47%

5Y EPS CAGR

GVIP

21.58%

MUA

N/A

P/S Ratio

GVIP

4.33

MUA

N/A

P/B Ratio

GVIP

6.99

MUA

N/A

GVIP vs MUA - Historical Returns

Returns include dividend reinvestment.

Period	GVIP	MUA
1 month	+1.29%	+0.15%
3 months	+20.04%	+1.18%
6 months	+14.71%	+2.26%
1 year	+33.30%	+11.02%
5 years(CAGR)	+12.51%	-2.95%
10 years(CAGR)	+17.43%	+1.72%
Max(CAGR)	+17.43%	+5.52%

Winner

GVIP

+1.29%

MUA

+0.15%

Winner

GVIP

+20.04%

MUA

+1.18%

Winner

GVIP

+14.71%

MUA

+2.26%

Winner

GVIP

+33.30%

MUA

+11.02%

5Y(CAGR)

Winner

GVIP

+12.51%

MUA

-2.95%

10Y(CAGR)

Winner

GVIP

+17.43%

MUA

+1.72%

Max(CAGR)

Winner

GVIP

+17.43%

MUA

+5.52%

GVIP vs MUA - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GVIP	MUA
2026	+13.44%	+3.16%
2025	+24.18%	+1.85%
2024	+31.42%	+7.82%
2023	+40.11%	+2.51%
2022	-32.35%	-22.70%
2021	+13.57%	+5.79%
2020	+42.47%	+0.79%
2019	+29.65%	+20.17%
2018	-8.03%	-9.56%
2017	+24.67%	+16.03%
2016	+7.97%	-0.55%
2015	N/A	+9.17%
2014	N/A	+26.85%
2013	N/A	-14.06%
2012	N/A	+17.94%
2011	N/A	+14.51%
2010	N/A	+1.74%
2009	N/A	+43.10%
2008	N/A	-27.76%
2007	N/A	-12.40%
2006	N/A	+18.85%
2005	N/A	+18.85%
2004	N/A	+16.12%
2003	N/A	+4.66%
2002	N/A	+9.73%
2001	N/A	-3.63%
2000	N/A	+16.97%
1999	N/A	-5.42%

GVIP vs MUA Drawdown Comparison

The maximum drawdown for GVIP was -37.09%, occurring on Oct 14, 2022. Recovery took 573 trading sessions.

The maximum drawdown for MUA was -43.01%, occurring on Oct 23, 2023. This drawdown has not yet recovered.

The current GVIP drawdown is -2.16%. The current MUA drawdown is -18.02%.

Rank	GVIP	MUA
#1	-37.09% Nov 16, 2021 - Feb 29, 2024	-43.01% Jun 15, 2021 - Oct 23, 2023
#2	-36.63% Feb 19, 2020 - Jul 20, 2020	-41.80% May 2, 2007 - Jul 2, 2010
#3	-23.29% Feb 14, 2025 - Jun 26, 2025	-36.19% Feb 10, 2020 - Feb 8, 2021
#4	-21.47% Sep 20, 2018 - Apr 10, 2019	-20.12% Jan 24, 2013 - Sep 2, 2014
#5	-13.67% Feb 2, 2026 - Apr 14, 2026	-16.95% Oct 13, 2017 - Mar 26, 2019
#6	-10.25% Jul 16, 2024 - Aug 19, 2024	-15.30% Jul 12, 2016 - Jul 11, 2017
#7	-9.91% Apr 30, 2019 - Jul 26, 2019	-14.32% Oct 1, 2010 - Dec 8, 2011
#8	-9.66% Jan 26, 2018 - Mar 12, 2018	-14.20% Aug 30, 2001 - Apr 15, 2003
#9	-9.55% Jul 26, 2019 - Nov 18, 2019	-12.88% Feb 17, 2004 - Sep 13, 2004
#10	-9.08% Mar 12, 2018 - Jun 18, 2018	-10.26% Feb 11, 2021 - May 24, 2021
#11	-8.76% Sep 2, 2020 - Oct 13, 2020	-9.51% Nov 5, 1999 - Aug 18, 2000
#12	-7.59% Oct 13, 2020 - Nov 5, 2020	-9.03% May 8, 2003 - Jan 21, 2004
#13	-7.24% Oct 29, 2025 - Dec 10, 2025	-7.51% Nov 6, 2019 - Jan 22, 2020
#14	-7.10% Feb 16, 2021 - Apr 9, 2021	-7.03% Mar 8, 2012 - Apr 24, 2012
#15	-7.04% Apr 29, 2021 - Jun 23, 2021	-7.02% Feb 7, 2005 - Apr 27, 2005

Correlation

Correlation between GVIP and MUA is 0.45 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.45

-101

Dividend Comparison (2000 - 2026)

GVIP vs MUA dividend yield comparison.

Year	GVIP	MUA
2026	0.00%	2.58%
2025	0.34%	6.22%
2024	0.29%	6.03%
2023	0.77%	4.84%
2022	0.02%	6.72%
2021	0.00%	5.06%
2020	0.12%	4.35%
2019	0.77%	4.37%
2018	0.44%	5.12%
2017	0.45%	4.61%
2016	0.08%	5.24%
2015	0.00%	5.25%
2014	0.00%	5.50%
2013	0.00%	6.53%
2012	0.00%	5.58%
2011	0.00%	6.01%
2010	0.00%	6.63%
2009	0.00%	6.78%
2008	0.00%	9.34%
2007	0.00%	6.57%
2006	0.00%	5.38%
2005	0.00%	5.96%
2004	0.00%	6.33%
2003	0.00%	6.83%
2002	0.00%	6.73%
2001	0.00%	7.11%
2000	0.00%	2.73%