EMB vs. GAEM
EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) and GAEM (Simplify Gamma Emerging Market Bond ETF) are both Emerging Markets Bonds funds. EMB is passively managed, while GAEM is actively managed. Over the past year, EMB returned 11.56% vs 13.15% for GAEM. A 0.76 correlation means they provide meaningful diversification when combined. EMB charges 0.39%/yr vs 0.76%/yr for GAEM.
Performance
EMB vs. GAEM - Performance Comparison
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Returns By Period
In the year-to-date period, EMB achieves a 1.80% return, which is significantly lower than GAEM's 3.26% return.
EMB
- 1D
- -0.37%
- 1M
- 1.29%
- YTD
- 1.80%
- 6M
- 1.93%
- 1Y
- 11.56%
- 3Y*
- 9.74%
- 5Y*
- 1.86%
- 10Y*
- 3.29%
GAEM
- 1D
- -0.20%
- 1M
- 0.20%
- YTD
- 3.26%
- 6M
- 4.63%
- 1Y
- 13.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMB vs. GAEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.80% | 13.85% | 0.29% |
GAEM Simplify Gamma Emerging Market Bond ETF | 3.26% | 13.55% | 3.72% |
Correlation
The correlation between EMB and GAEM is 0.80, 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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2024 | 0.76 |
The correlation between EMB and GAEM has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
EMB vs. GAEM — Risk / Return Rank
EMB
GAEM
EMB vs. GAEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) 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.
| EMB | GAEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.57 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.66 | -1.08 |
| Martin ratioReturn relative to average drawdown | 11.01 | 16.69 | -5.68 |
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
| EMB | GAEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.81 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 2.33 | -1.89 |
Drawdowns
EMB vs. GAEM - Drawdown Comparison
The maximum EMB drawdown since its inception was -34.70%, which is greater than GAEM's maximum drawdown of -3.84%. Use the drawdown chart below to compare losses from any high point for EMB and GAEM.
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Drawdown Indicators
| EMB | GAEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -3.84% | -30.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -3.61% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.20% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -5.06% | -0.52% | -4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.79% | +0.26% |
Volatility
EMB vs. GAEM - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) has a higher volatility of 1.85% compared to Simplify Gamma Emerging Market Bond ETF (GAEM) at 1.33%. This indicates that EMB's price experiences larger fluctuations and is considered to be riskier than GAEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMB | GAEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.33% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 3.74% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.56% | 4.71% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 4.96% | +4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 4.96% | +5.00% |
EMB vs. GAEM - Expense Ratio Comparison
EMB has a 0.39% expense ratio, which is lower than GAEM's 0.76% expense ratio.
Dividends
EMB vs. GAEM - Dividend Comparison
EMB's dividend yield for the trailing twelve months is around 5.06%, less than GAEM's 7.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.06% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
GAEM Simplify Gamma Emerging Market Bond ETF | 7.54% | 6.50% | 3.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMB and GAEM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMB has higher volatility (1.85%) compared to GAEM (1.33%). In terms of maximum drawdown, EMB dropped -34.70% vs GAEM's -3.84%.
On 1-year performance, GAEM leads with 13.15% vs 11.56% for EMB. On fees, EMB is cheaper at 0.39% per year. On volatility, GAEM has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GAEM has performed better with a 13.15% return vs 11.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMB is cheaper with a 0.39% expense ratio, compared with 0.76% for GAEM.
GAEM has the higher dividend yield at 7.54%, compared with 5.06% for EMB.
They also come from different issuers: iShares and Simplify. Their fees differ too: 0.39% for EMB and 0.76% for GAEM.
GAEM currently has the higher Sharpe Ratio (2.81 vs 2.09), 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.
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