Framework Journal · one stock, one dated entry

Recorded 2026-06-14 · Permanent

Goldman Sachs Ultra Short Municipal Income ETF GUMI

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · The fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in fixed income securities issued by or on behalf of states, territories and possessions of the Uni…

The label
Markup

read at $50.34

Goldman Sachs Ultra Short Municipal Income ETF holds its Markup at $50.34.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-06-14
PhaseMarkup
Quantitative stateConsolidating, no directional conviction, held for 1 days
Price$50.34
ValuationN/A trailing · N/A forward price to earnings
Values screenFAIL · score 30.0
BetaN/A

The trader read · the latest dated commentary

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 0%. Entered 2026-07-31 · Markup

The dated journal · newest first, never edited

2026-07-31 Markup $50.34 +0.0% Entry 4

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 0%.

2026-07-18 Markup $50.34 +0.0% Entry 3

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 3%. Our forward projection puts the odds of a 10% gain over the next month near 0%.

2026-07-03 Markup $50.34 +0.0% Entry 2

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Markup $50.34 Entry 1

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $50.16 +0.4% $0.11 $1,006 +0.6%
2 months $50.10 +0.5% $0.24 $1,009 +0.9%
3 months $50.00 +0.7% $0.34 $1,013 +1.3%
6 months $49.67 +1.3% $0.67 $1,027 +2.7%
1 year $48.77 +3.2% $1.39 $1,061 +6.1%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever GUMI does next, these words stay.

Goldman Sachs Ultra Short Municipal Income ETF · GUMI · Markup · $50.34
Recorded 2026-06-14 · before the outcome · scored mechanically

All of today's entries See the running score

Get our weekly market brief free.