- Issuer
- Goldman Sachs
- Inception Date
- Feb 15, 2022
- Region
- Emerging Markets (Broad)
- Category
- Emerging Markets Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $34M
Share Price Chart
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Performance
GEMD Performance Chart
Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) is up 2.3% since the beginning of the year. GEMD is currently trading at $42 per share.
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Returns By Period
Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) has returned 2.30% so far this year and 11.10% over the past 12 months.
Goldman Sachs Access Emerging Markets USD Bond ETF
- 1D
- -0.39%
- 1M
- 1.83%
- YTD
- 2.30%
- 6M
- 2.33%
- 1Y
- 11.10%
- 3Y*
- 8.15%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GEMD Monthly Returns History
Based on dividend-adjusted daily data since Feb 17, 2022, GEMD's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2022 with a return of +10.0%, while the worst month was Jun 2022 at -6.6%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, GEMD closed higher 53% of trading days. The best single day was Nov 10, 2022 with a return of +4.6%, while the worst single day was Jun 13, 2022 at -2.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.40% | 1.66% | -3.61% | 2.38% | 1.06% | 0.49% | 2.30% | ||||||
| 2025 | 1.59% | 1.82% | -0.81% | 0.00% | 1.08% | 2.38% | 0.74% | 1.69% | 1.37% | 2.70% | 0.27% | 0.11% | 13.67% |
| 2024 | -0.93% | 0.99% | 1.48% | -2.54% | 2.72% | -0.52% | 2.68% | 2.19% | 1.91% | -3.08% | 1.20% | -2.60% | 3.31% |
| 2023 | 3.68% | -2.88% | 1.95% | 0.09% | -1.52% | 1.88% | 1.60% | -1.93% | -2.98% | -1.62% | 5.50% | 4.90% | 8.51% |
| 2022 | -5.53% | -1.53% | -6.42% | 0.91% | -6.62% | 3.49% | -2.69% | -6.33% | 0.17% | 9.95% | -1.08% | -15.70% |
Benchmark Metrics
Goldman Sachs Access Emerging Markets USD Bond ETF has an annualized alpha of -1.59%, beta of 0.32, and R2 of 0.31 versus S&P 500 Index. Calculated based on daily prices since February 17, 2022.
- This ETF participated in 68.40% of S&P 500 Index downside but only 39.48% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.32 may look defensive, but with R2 of 0.31 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.31 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -1.59%
- Beta
- 0.32
- R²
- 0.31
- Upside Capture
- 39.48%
- Downside Capture
- 68.40%
Expense Ratio
GEMD has an expense ratio of 0.39%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GEMD ranks 60 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GEMD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.78 | -0.38 |
| Martin ratioReturn relative to average drawdown | 10.09 | 12.44 | -2.35 |
Dividends
Dividend History
Goldman Sachs Access Emerging Markets USD Bond ETF provided a 5.65% dividend yield over the last twelve months, with an annual payout of $2.40 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $2.40 | $2.68 | $2.31 | $2.33 | $2.16 |
Dividend yield | 5.65% | 6.32% | 5.79% | 5.70% | 5.42% |
Monthly Dividends
The table displays the monthly dividend distributions for Goldman Sachs Access Emerging Markets USD Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.20 | $0.18 | $0.22 | $0.20 | $0.19 | $0.98 | ||||||
| 2025 | $0.00 | $0.19 | $0.19 | $0.20 | $0.49 | $0.21 | $0.20 | $0.20 | $0.19 | $0.23 | $0.21 | $0.40 | $2.68 |
| 2024 | $0.00 | $0.19 | $0.18 | $0.18 | $0.21 | $0.20 | $0.18 | $0.21 | $0.18 | $0.20 | $0.20 | $0.40 | $2.31 |
| 2023 | $0.00 | $0.21 | $0.19 | $0.20 | $0.19 | $0.16 | $0.20 | $0.20 | $0.19 | $0.19 | $0.20 | $0.40 | $2.33 |
| 2022 | $0.08 | $0.18 | $0.21 | $0.20 | $0.23 | $0.25 | $0.24 | $0.20 | $0.18 | $0.41 | $2.16 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Goldman Sachs Access Emerging Markets USD Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Goldman Sachs Access Emerging Markets USD Bond ETF was 24.56%, occurring on Oct 20, 2022. Recovery took 673 trading sessions.
The current Goldman Sachs Access Emerging Markets USD Bond ETF drawdown is 0.39%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -24.56%Oct 2022 | 8mo 4d | 2y 8mo | 3y 4moFeb 2022 - Jun 2025 |
2026 pullback2026 | -4.64%Mar 2026 | 25d | 2mo 16d | 3mo 11dMar 2026 - Jun 2026 |
2026 pullback2026 | -1.05%Jan 2026 | 21d | 3d | 24dDec 2025 - Jan 2026 |
2025 pullback2025 | -0.96%Jul 2025 | 8d | 10d | 18dJul 2025 - Jul 2025 |
2025 pullback2025 | -0.86%Nov 2025 | 7d | 21d | 28dOct 2025 - Nov 2025 |
Drawdown Indicators
| GEMD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.56% | -56.78% | +32.22% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -9.10% | +4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -18.90% | +11.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.39% | -1.80% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -10.71% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 2.03% | -0.93% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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