BREM vs. GAEM

Last updated Jun 24, 2026

BREM (iShares Emerging Markets Bond Active ETF) and GAEM (Simplify Gamma Emerging Market Bond ETF) are both Emerging Markets Bonds funds. Both are actively managed. A 0.71 correlation means they provide meaningful diversification when combined. BREM charges 0.50%/yr vs 0.76%/yr for GAEM.

Performance

BREM vs. GAEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Bond Active ETF (BREM) and Simplify Gamma Emerging Market Bond ETF (GAEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BREM achieves a 3.77% return, which is significantly lower than GAEM's 4.21% return.

BREM

• 1D: -0.20%
• 1M: 1.52%
• YTD: 3.77%
• 6M: 3.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GAEM

• 1D: 0.08%
• 1M: 2.34%
• YTD: 4.21%
• 6M: 4.94%
• 1Y: 12.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BREM vs. GAEM - Yearly Performance Comparison

	2026 (YTD)	2025
BREM iShares Emerging Markets Bond Active ETF	3.77%	2.80%
GAEM Simplify Gamma Emerging Market Bond ETF	4.21%	2.90%

Correlation

The correlation between BREM and GAEM is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 16, 2025	0.71

Return for Risk

BREM vs. GAEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BREM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GAEM

GAEM Risk / Return Rank: 86
GAEM Sharpe Ratio Rank: 88
GAEM Sortino Ratio Rank: 93
GAEM Omega Ratio Rank: 90
GAEM Calmar Ratio Rank: 76
GAEM Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BREM vs. GAEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Bond Active ETF (BREM) and Simplify Gamma Emerging Market Bond ETF (GAEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BREM	GAEM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.69	—
Sortino ratio: Return per unit of downside risk	—	4.33	—
Omega ratio: Gain probability vs. loss probability	—	1.54	—
Calmar ratio: Return relative to maximum drawdown	—	3.60	—
Martin ratio: Return relative to average drawdown	—	16.38	—

Drawdowns

BREM vs. GAEM - Drawdown Comparison

The maximum BREM drawdown since its inception was -4.54%, which is greater than GAEM's maximum drawdown of -3.84%. Use the drawdown chart below to compare losses from any high point for BREM and GAEM.

Drawdown Indicators

	BREM	GAEM	Difference
Max Drawdown Largest peak-to-trough decline	-4.54%	-3.84%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.61%	—
Current Drawdown Current decline from peak	-0.58%	-0.25%	-0.33%
Average Drawdown Average peak-to-trough decline	-0.63%	-0.51%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.79%	—

Volatility

Volatility by Period

	BREM	GAEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.61%	4.84%	+0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.61%	4.97%	+0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.61%	4.97%	+0.64%

BREM vs. GAEM - Expense Ratio Comparison

BREM has a 0.50% expense ratio, which is lower than GAEM's 0.76% expense ratio.

Dividends

BREM vs. GAEM - Dividend Comparison

BREM's dividend yield for the trailing twelve months is around 3.89%, less than GAEM's 7.47% yield.

Position	TTM	2025	2024
BREM iShares Emerging Markets Bond Active ETF	3.89%	1.19%	0.00%
GAEM Simplify Gamma Emerging Market Bond ETF	7.47%	6.50%	3.78%

Frequently Asked Questions

Can I hold both BREM and GAEM in my portfolio?

BREM and GAEM have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BREM or GAEM?

On fees, BREM is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BREM or GAEM?

BREM is cheaper with a 0.50% expense ratio, compared with 0.76% for GAEM.

Which ETF pays a higher dividend yield, BREM or GAEM?

GAEM has the higher dividend yield at 7.47%, compared with 3.89% for BREM.

What is the main difference between BREM and GAEM?

They also come from different issuers: BlackRock and Simplify. Their fees differ too: 0.50% for BREM and 0.76% for GAEM.