---
ticker: "GCAL"
name: "Goldman Sachs Dynamic California Municipal Income ETF"
url: "https://etf.net/etf/GCAL"
grade: "B"
score: 58
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "28 of 63"
methodology: "https://etf.net/methodology"
---

# GCAL: Goldman Sachs Dynamic California Municipal Income ETF

Grade **B**, Score 58 of 100. Rank 28 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 41 | 33 of 63 |
| Mission | 87 | 34 of 59 |
| Risk | 65 | 4 of 63 |
| Tradability | 41 | 41 of 63 |
| Holdings | 57 | 33 of 63 |
| Durability | 52 | 36 of 63 |

## Top holdings

The fund holds 401 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | FTIXX | Gs Trust - Gs Financial’s 3.76% 10/09/2026 | 4.98% |
| 2 | — | Puerto Rico Sales Tax Fin 4.33% 07/01/2040 | 1.79% |
| 3 | — | Bay Area Toll Authority 1.15% 04/01/2059 | 1.54% |
| 4 | — | State of California 5.00% 12/01/2028 | 1.39% |
| 5 | — | Los Angeles County Metrop 5.00% 07/01/2035 | 1.11% |
| 6 | — | Riverside, California (Co 3.95% 10/15/2027 | 1.10% |
| 7 | — | Burbank-Glendale-Pasadena 5.25% 07/01/2045 | 1.00% |
| 8 | — | California Municipal Fina 5.00% 06/30/2032 | 0.92% |
| 9 | — | Alameda Corridor Transpor 5.00% 10/01/2031 | 0.91% |
| 10 | — | California Municipal Fina 4.10% 11/01/2046 | 0.88% |
| 11 | — | Sacramento County Califor 5.00% 07/01/2038 | 0.87% |
| 12 | — | Puerto Rico Electric Powe 3.43% 07/01/2029 | 0.87% |
| 13 | — | California Municipal Fina 3.00% 06/01/2045 | 0.86% |
| 14 | — | Puerto Rico Sales Tax Fin 07/01/2029 | 0.75% |
| 15 | — | Los Angeles Department of 5.50% 07/01/2046 | 0.74% |
| 16 | — | California Infrastructure 5.00% 11/01/2049 | 0.71% |
| 17 | — | California Municipal Fina 3.10% 03/01/2046 | 0.69% |
| 18 | — | California Community Choi 5.00% 02/01/2055 | 0.66% |
| 19 | — | California Health Facilit 5.00% 02/01/2042 | 0.65% |
| 20 | — | Matching Fund Special Pur 5.00% 10/01/2039 | 0.64% |
| 21 | — | California Pollution Cont 5.00% 11/21/2045 | 0.63% |
| 22 | — | Amador Water Agency Finan 5.00% 12/01/2030 | 0.61% |
| 23 | — | Los Angeles California Wa 5.00% 06/01/2033 | 0.61% |
| 24 | — | Sugarloaf Community Devel 02/01/2031 | 0.59% |
| 25 | — | Commonwealth of Puerto Ri 4.00% 07/01/2037 | 0.58% |
| 26 | — | Santa Rita Union Elem Sch 08/01/2030 | 0.56% |
| 27 | — | Oxnard California School 02/01/2031 | 0.56% |
| 28 | — | Chino Community Facilitie 4.00% 09/01/2032 | 0.55% |
| 29 | — | Glendale, California (Cit 5.00% 02/01/2049 | 0.55% |
| 30 | — | Los Angeles County Metrop 5.00% 06/01/2045 | 0.55% |

Source: etf.net, https://etf.net/etf/GCAL. Please cite the page URL.