GINC vs MSTI: Grades, Fees and Holdings Compared

Goldman Sachs ETF Trust

GINCANYSE Arca

Madison Short Term Strategic Income ETF

MSTIBNYSE Arca

Overlap

No data

Expense ratio

MSTI −0.04pt a year

GINC0.40%MSTI0.36%

Avg volume · 30D

GINC 31.4×the volume

GINC53KMSTI1.69K

GINC vs MSTI Performance

Oct 2, 2026 – Nov 2, 2026

+1.0%GINC+1.5%MSTI

Expense ratio: GINC 0.40%; MSTI 0.36%, better
Fund size: GINC $212M; MSTI $48M
1Y total return: GINC No data; MSTI +2.1%
Yield (12M): GINC No data; MSTI 5.40%
Holdings: GINC 491; MSTI 110
Avg volume (30D): GINC 53K sh, better; MSTI 1.69K sh
NAV per share: GINC $48.86; MSTI $19.94
52W range

ETF.net Grade

Pillar letters and Scores for GINC, MSTI, with each pillar’s weight
Pillar	GINC	MSTI
Cost30% weight	A81	A92Higher
Mission25% weight	Not scored	B65
Risk15% weight	C48	B69Higher
Tradability15% weight	A72Higher	F24
Holdings10% weight	A78Higher	A76
Durability5% weight	A81Higher	C52

Rank among Multi-Sector Bond Income funds

How we build Categories ›

Same Category. GINC and MSTI are both graded against the same 23 Multi-Sector Bond Income funds, so their Grades compare head to head.

Multi-Sector Bond Income⁠

Category · 23 funds

See all 23 ›

GINC ranks 2nd and MSTI 6th of 23 funds in the Multi-Sector Bond Income Category.

Rank 1AVGMSVanguard Multi-Sector Income Bond ETFScore 87
Rank 2AAINPAllspring Income Plus ETFScore 72
Rank 2AGINCGoldman Sachs ETF TrustScore 72
Rank 4AXAGGEaton Vance Strategic Income Opportunities ETFScore 71
Rank 5BTMBThornburg Multi Sector Bond ETFScore 70
Rank 6BMSTIMadison Short Term Strategic Income ETFScore 67
Rank 6BTMSFT. Rowe Price Multi-Sector Income ETFScore 67

Our read on each fund

ETF.net Research

GINCAGoldman Sachs ETF Trust

MSTIBMadison Short Term Strategic Income ETF

In short

GINC No data

MSTI Madison's mandate here fits on one line: a high level of current income from short-dated bonds, paid out monthly. Compact portfolio, roughly 100 positions, at a fee that sits under the typical bond ETF in its peer group.

Stated mandate

GINC No data

MSTI The Fund seeks to generate a high level of current income.

Why people hold it

GINC No data

MSTI A 0.36% expense ratio undercuts the median fee among its bond peers, so less of the coupon leaks out on the way to you.
Income is the entire job. The stated objective is a high level of current income, and the fund pays monthly rather than quarterly.
Short-maturity by design, which structurally dampens sensitivity to long-end rate moves compared with broad or long-dated bond funds.
Roughly 100 positions in a plain 1940 Act fund wrapper: readable, no derivatives-heavy machinery to decode.

Worth knowing

GINC No data

MSTI It trades thinly and stays small, so the bid-ask spread on a given trade can matter more to your cost than the annual fee does.
Launched in 2023, so the live record is short and does not cover a full rate cycle.
No declared target payout rate. The monthly distribution floats with whatever the portfolio actually earns.

Full GINC profile⁠

Full MSTI profile⁠

GINC vs MSTI Holdings

How GINC and MSTI differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile78.9%
Asset classFixed Income100%

Sector

No Sector split for GINC and MSTI.

Country, concentration and asset class

Country by domicile

Country weights in GINC and MSTI, widest gap first
Country	More in GINCMore in MSTI	GINC	MSTI
United States	MSTI +19.1 points	78.6%	97.7%
Cayman Islands	GINC +11.4 points	11.4%	0.0%
United Kingdom	GINC +3.2 points	3.2%	0.0%
Ireland	MSTI +2.0 points	0.3%	2.3%
Mexico	GINC +1.6 points	1.6%	0.0%
Canada	GINC +0.9 points	0.9%	0.0%
Argentina	GINC +0.8 points	0.8%	0.0%
Switzerland	GINC +0.8 points	0.8%	0.0%
Other countries (7)	GINC +2.5 points	2.5%	0.0%

Outside the US: GINC 35% developed, 65% emerging.

Concentration

Weight in the 10 largest Holdings

GINC25.2%
MSTI26.4%

Securities held

GINC484
MSTI110

Asset class

GINC: Fixed Income
MSTI: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. GINC holds 484 securities, MSTI 110.

All 488 GINC holdings⁠All 99 MSTI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GINC vs MSTI Cost

Overpaying GINC vs MSTI

$770

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

GINC 0.40%
$8,090
MSTI 0.36%
$7,320

Amount$10,000

Years30 years

Cost over time

GINC 0.40%
MSTI 0.36%
Overpaying

Year by year

Year	GINC	MSTI	Overpaying
10	$723	$652	$71
20	$2,793	$2,522	$271
30	$8,090	$7,320	$770

Expense ratio

0.40%GINC
0.36%MSTI, cheaper

MSTI0.36%GINC0.40%

0.30%1.13%

Middle half of Multi-Sector Bond Income funds
Median 0.60%

MSTI 3rd cheapest of 23 funds

GINC 5th cheapest of 23 funds

GINC vs MSTI Dividends

Last 12 months to Nov 2, 2026

Yield (12M): GINC No data; MSTI 5.40%
Payout (12M): GINC No data; MSTI $1.08
Last payment: GINC $0.25; MSTI $0.09
Ex-dividend: GINC Nov 2, 2026; MSTI Oct 28, 2026
Paid on: GINC Pays Nov 6, 2026; MSTI Oct 30, 2026
Frequency: GINC Monthly; MSTI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GINCMonthly · 3 paymentsAll GINC payments⁠

MSTIMonthly · 38 paymentsAll MSTI payments⁠

GINC vs MSTI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: GINC No dataMSTI 2.7%
Return per unit of riskSharpe ratio, 3 years: GINC No dataMSTI 0.45
Worst fallMax drawdown, 5 years: GINC No dataMSTI −1.7%since Sep 2023
Market sensitivityBeta, 5 years: GINC 0.71MSTI 0.10; Market = 1

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