TOGA vs GCAL

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

TOGA vs GCAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

Winner

TOGA

$165M

GCAL

$165M

Expense Ratio

TOGA

0.69%

Winner

GCAL

0.30%

Max Drawdown

TOGA

28.50%

Winner

GCAL

5.11%

Sharpe Ratio

TOGA

-0.65

Winner

GCAL

1.14

5Y Beta

TOGA

1.03

Winner

GCAL

0.01

P/E Ratio

TOGA

42.88

GCAL

N/A

Forward P/E

TOGA

29.18

GCAL

N/A

PEG Ratio

TOGA

0.24

GCAL

N/A

Debt to Equity

TOGA

-40.74%

GCAL

N/A

P/S Ratio

TOGA

3.21

GCAL

N/A

P/B Ratio

TOGA

6.75

GCAL

N/A

TOGA vs GCAL - Historical Returns

Returns include dividend reinvestment.

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

TOGA

+0.15%

Winner

GCAL

+0.62%

TOGA

-2.42%

Winner

GCAL

+0.37%

TOGA

-13.64%

Winner

GCAL

+2.05%

TOGA

-11.50%

Winner

GCAL

+6.72%

Max(CAGR)

Winner

TOGA

+6.87%

GCAL

+4.21%

TOGA vs GCAL - Annual Returns (2024 - 2026)

Returns include dividend reinvestment.

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

TOGA vs GCAL Drawdown Comparison

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

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

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

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