EDOG vs. GEM

Last updated Jun 24, 2026

EDOG (ALPS Emerging Sector Dividend Dogs ETF) and GEM (Goldman Sachs ActiveBeta Emerging Markets Equity ETF) are both Emerging Markets Equities funds - EDOG tracks the S-Network Emerging Sector Dividend Dogs Index while GEM tracks the Goldman Sachs ActiveBeta Emerging Markets Equity Index. Both are passively managed. Over the past 10 years, EDOG returned 6.34%/yr vs 9.90%/yr for GEM. Their correlation of 0.80 suggests significant overlap in exposure. EDOG charges 0.60%/yr vs 0.45%/yr for GEM.

Performance

EDOG vs. GEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Emerging Sector Dividend Dogs ETF (EDOG) and Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDOG achieves a 1.65% return, which is significantly lower than GEM's 22.90% return. Over the past 10 years, EDOG has underperformed GEM with an annualized return of 6.34%, while GEM has yielded a comparatively higher 9.90% annualized return.

EDOG

• 1D: -0.23%
• 1M: -0.76%
• YTD: 1.65%
• 6M: 0.54%
• 1Y: 17.09%
• 3Y*: 10.59%
• 5Y*: 4.98%
• 10Y*: 6.34%

GEM

• 1D: -5.43%
• 1M: 2.53%
• YTD: 22.90%
• 6M: 23.85%
• 1Y: 45.28%
• 3Y*: 22.41%
• 5Y*: 7.42%
• 10Y*: 9.90%

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

EDOG vs. GEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDOG ALPS Emerging Sector Dividend Dogs ETF	1.65%	22.59%	1.70%	11.58%	-10.50%	11.71%	7.99%	13.26%	-16.52%	20.42%
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF	22.90%	33.43%	6.66%	11.82%	-21.33%	-0.19%	13.23%	17.79%	-14.25%	36.43%

Correlation

The correlation between EDOG and GEM is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 29, 2015	0.80

The correlation between EDOG and GEM shifts across timeframes, from 0.67 (1 year) to 0.82 (10 years), reflecting how their relationship changes across market environments.

EDOG vs. GEM - Sectors Allocation Comparison

Sectors	EDOG	GEM
Industrials	11.3%	5.6%
Energy	11.2%	3.0%
Financial Services	11.0%	18.6%
Healthcare	10.3%	2.9%
Utilities	10.2%	1.8%
Consumer Defensive	9.6%	2.8%
Technology	9.4%	43.5%
Consumer Cyclical	6.1%	8.2%
Basic Materials	6.0%	6.4%
Communication Services	5.4%	6.4%
Real Estate	-	0.8%

Return for Risk

EDOG vs. GEM — Risk / Return Rank

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

EDOG

EDOG Risk / Return Rank: 32
EDOG Sharpe Ratio Rank: 31
EDOG Sortino Ratio Rank: 30
EDOG Omega Ratio Rank: 32
EDOG Calmar Ratio Rank: 34
EDOG Martin Ratio Rank: 32

GEM

GEM Risk / Return Rank: 68
GEM Sharpe Ratio Rank: 68
GEM Sortino Ratio Rank: 60
GEM Omega Ratio Rank: 70
GEM Calmar Ratio Rank: 71
GEM Martin Ratio Rank: 71

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.

EDOG vs. GEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Emerging Sector Dividend Dogs ETF (EDOG) and Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM). 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.

	EDOG	GEM	Difference
Sharpe ratio: Return per unit of total volatility	1.07	2.05	-0.98
Sortino ratio: Return per unit of downside risk	1.54	2.64	-1.10
Omega ratio: Gain probability vs. loss probability	1.21	1.39	-0.18
Calmar ratio: Return relative to maximum drawdown	1.60	3.37	-1.77
Martin ratio: Return relative to average drawdown	4.24	12.44	-8.20

EDOG vs. GEM - Sharpe Ratio Comparison

The current EDOG Sharpe Ratio is 1.07, which is lower than the GEM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of EDOG and GEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EDOG vs. GEM - Drawdown Comparison

The maximum EDOG drawdown since its inception was -44.29%, which is greater than GEM's maximum drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for EDOG and GEM.

Drawdown Indicators

	EDOG	GEM	Difference
Max Drawdown Largest peak-to-trough decline	-44.29%	-37.02%	-7.27%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-13.50%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	-15.29%	-16.54%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-26.54%	-35.10%	+8.56%
Max Drawdown (10Y) Largest decline over 10 years	-44.29%	-37.02%	-7.27%
Current Drawdown Current decline from peak	-9.54%	-5.43%	-4.11%
Average Drawdown Average peak-to-trough decline	-11.20%	-11.97%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.05%	3.65%	+0.40%

Volatility

EDOG vs. GEM - Volatility Comparison

The current volatility for ALPS Emerging Sector Dividend Dogs ETF (EDOG) is 4.04%, while Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) has a volatility of 12.24%. This indicates that EDOG experiences smaller price fluctuations and is considered to be less risky than GEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDOG	GEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	12.24%	-8.20%
Volatility (6M) Calculated over the trailing 6-month period	14.23%	20.13%	-5.90%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	22.16%	-6.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	18.34%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	19.21%	-1.79%

EDOG vs. GEM - Expense Ratio Comparison

EDOG has a 0.60% expense ratio, which is higher than GEM's 0.45% expense ratio.

Dividends

EDOG vs. GEM - Dividend Comparison

EDOG's dividend yield for the trailing twelve months is around 5.06%, more than GEM's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDOG ALPS Emerging Sector Dividend Dogs ETF	5.06%	4.50%	6.55%	6.53%	5.07%	4.11%	2.60%	4.93%	5.37%	2.89%	2.97%	4.55%
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF	1.87%	2.30%	2.58%	2.97%	2.96%	3.00%	1.63%	3.13%	2.08%	1.81%	1.98%	0.25%

Frequently Asked Questions

Can I hold both EDOG and GEM in my portfolio?

EDOG and GEM have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDOG or GEM?

GEM has higher volatility (12.24%) compared to EDOG (4.04%). In terms of maximum drawdown, EDOG dropped -44.29% vs GEM's -37.02%.

Which ETF is better, EDOG or GEM?

On 10-year performance, GEM leads with 9.90% vs 6.34% for EDOG. On fees, GEM is cheaper at 0.45% per year. On volatility, EDOG has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDOG or GEM?

Over the 10-year period, GEM has performed better with a 9.90% return vs 6.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDOG or GEM?

GEM is cheaper with a 0.45% expense ratio, compared with 0.60% for EDOG.

Which ETF pays a higher dividend yield, EDOG or GEM?

EDOG has the higher dividend yield at 5.06%, compared with 1.87% for GEM.

What is the main difference between EDOG and GEM?

EDOG tracks S-Network Emerging Sector Dividend Dogs Index, while GEM tracks Goldman Sachs ActiveBeta Emerging Markets Equity Index. They also come from different issuers: SS&C and Goldman Sachs. Their fees differ too: 0.60% for EDOG and 0.45% for GEM.

Which has better risk-adjusted returns?

GEM currently has the higher Sharpe Ratio (2.05 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.