CBON vs. GEMD
Compare and contrast key facts about VanEck Vectors ChinaAMC China Bond ETF (CBON) and Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD).
CBON and GEMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CBON is a passively managed fund by VanEck that tracks the performance of the ChinaBond China High Quality Bond Index. It was launched on Nov 10, 2014. GEMD is a passively managed fund by Goldman Sachs that tracks the performance of the FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. It was launched on Feb 15, 2022. Both CBON and GEMD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
CBON vs. GEMD - Performance Comparison
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CBON vs. GEMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBON VanEck Vectors ChinaAMC China Bond ETF | 2.36% | 5.46% | 1.85% | 2.92% | -9.25% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | -1.61% | 13.67% | 3.31% | 8.51% | -15.70% |
Returns By Period
In the year-to-date period, CBON achieves a 2.36% return, which is significantly higher than GEMD's -1.61% return.
CBON
- 1D
- 0.30%
- 1M
- -0.14%
- YTD
- 2.36%
- 6M
- 5.04%
- 1Y
- 7.55%
- 3Y*
- 3.53%
- 5Y*
- 2.16%
- 10Y*
- 2.45%
GEMD
- 1D
- 0.95%
- 1M
- -3.61%
- YTD
- -1.61%
- 6M
- 1.44%
- 1Y
- 9.00%
- 3Y*
- 6.89%
- 5Y*
- —
- 10Y*
- —
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CBON vs. GEMD - Expense Ratio Comparison
CBON has a 0.50% expense ratio, which is higher than GEMD's 0.39% expense ratio.
Return for Risk
CBON vs. GEMD — Risk / Return Rank
CBON
GEMD
CBON vs. GEMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC China Bond ETF (CBON) and Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD). 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.
| CBON | GEMD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.93 | 1.39 | +0.55 |
Sortino ratioReturn per unit of downside risk | 2.79 | 1.96 | +0.84 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.28 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 4.52 | 1.99 | +2.54 |
Martin ratioReturn relative to average drawdown | 19.27 | 8.28 | +10.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBON | GEMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.39 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.13 | +0.25 |
Correlation
The correlation between CBON and GEMD is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CBON vs. GEMD - Dividend Comparison
CBON's dividend yield for the trailing twelve months is around 1.62%, less than GEMD's 6.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBON VanEck Vectors ChinaAMC China Bond ETF | 1.62% | 1.66% | 2.15% | 3.01% | 2.70% | 3.05% | 2.87% | 3.87% | 3.39% | 3.33% | 3.25% | 2.78% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 6.47% | 6.32% | 5.79% | 5.70% | 5.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CBON vs. GEMD - Drawdown Comparison
The maximum CBON drawdown since its inception was -14.13%, smaller than the maximum GEMD drawdown of -24.56%. Use the drawdown chart below to compare losses from any high point for CBON and GEMD.
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Drawdown Indicators
| CBON | GEMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.13% | -24.56% | +10.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -4.64% | +2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.13% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | -3.61% | +3.47% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -8.48% | +4.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 1.11% | -0.72% |
Volatility
CBON vs. GEMD - Volatility Comparison
The current volatility for VanEck Vectors ChinaAMC China Bond ETF (CBON) is 1.49%, while Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) has a volatility of 3.00%. This indicates that CBON experiences smaller price fluctuations and is considered to be less risky than GEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBON | GEMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 3.00% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 4.14% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 6.52% | -2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.96% | 10.08% | -5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.60% | 10.08% | -4.48% |