EMHC vs. GABF

Last updated Jun 23, 2026

EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) and GABF (Gabelli Financial Services Opportunities ETF) are both exchange-traded funds - EMHC is a Emerging Markets Bonds fund tracking the Bloomberg Emerging USD Bond Core Index - Benchmark TR Net, while GABF is a Financials Equities fund actively managed by Gabelli. EMHC is passively managed, while GABF is actively managed. Over the past 3 years, EMHC returned 8.52%/yr vs 21.66%/yr for GABF. At a 0.42 correlation, their price movements are largely independent. EMHC charges 0.23%/yr vs 0.10%/yr for GABF.

Performance

EMHC vs. GABF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and Gabelli Financial Services Opportunities ETF (GABF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMHC achieves a 2.11% return, which is significantly higher than GABF's -4.05% return.

EMHC

• 1D: -0.37%
• 1M: 1.78%
• YTD: 2.11%
• 6M: 2.23%
• 1Y: 11.29%
• 3Y*: 8.52%
• 5Y*: 1.60%
• 10Y*: —

GABF

• 1D: -0.27%
• 1M: 1.29%
• YTD: -4.05%
• 6M: -5.37%
• 1Y: -0.43%
• 3Y*: 21.66%
• 5Y*: —
• 10Y*: —

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

EMHC vs. GABF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF	2.11%	14.07%	3.52%	10.06%	0.67%
GABF Gabelli Financial Services Opportunities ETF	-4.05%	3.60%	44.38%	38.92%	-0.04%

Correlation

The correlation between EMHC and GABF is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since May 10, 2022	0.42

Return for Risk

EMHC vs. GABF — Risk / Return Rank

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

EMHC

EMHC Risk / Return Rank: 64
EMHC Sharpe Ratio Rank: 65
EMHC Sortino Ratio Rank: 73
EMHC Omega Ratio Rank: 68
EMHC Calmar Ratio Rank: 54
EMHC Martin Ratio Rank: 62

GABF

GABF Risk / Return Rank: 8
GABF Sharpe Ratio Rank: 8
GABF Sortino Ratio Rank: 8
GABF Omega Ratio Rank: 8
GABF Calmar Ratio Rank: 8
GABF Martin Ratio Rank: 8

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.

EMHC vs. GABF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and Gabelli Financial Services Opportunities ETF (GABF). 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.

	EMHC	GABF	Difference
Sharpe ratio: Return per unit of total volatility	2.06	-0.02	+2.08
Sortino ratio: Return per unit of downside risk	3.12	0.08	+3.04
Omega ratio: Gain probability vs. loss probability	1.39	1.01	+0.38
Calmar ratio: Return relative to maximum drawdown	2.59	-0.02	+2.62
Martin ratio: Return relative to average drawdown	10.81	-0.06	+10.87

EMHC vs. GABF - Sharpe Ratio Comparison

The current EMHC Sharpe Ratio is 2.06, which is higher than the GABF Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of EMHC and GABF, 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

EMHC vs. GABF - Drawdown Comparison

The maximum EMHC drawdown since its inception was -28.03%, which is greater than GABF's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for EMHC and GABF.

Drawdown Indicators

	EMHC	GABF	Difference
Max Drawdown Largest peak-to-trough decline	-28.03%	-20.86%	-7.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.37%	-17.16%	+12.79%
Max Drawdown (3Y) Largest decline over 3 years	-7.67%	-20.86%	+13.19%
Max Drawdown (5Y) Largest decline over 5 years	-28.03%	—	—
Current Drawdown Current decline from peak	-0.37%	-8.77%	+8.40%
Average Drawdown Average peak-to-trough decline	-9.81%	-4.90%	-4.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	7.52%	-6.47%

Volatility

EMHC vs. GABF - Volatility Comparison

The current volatility for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) is 1.63%, while Gabelli Financial Services Opportunities ETF (GABF) has a volatility of 4.36%. This indicates that EMHC experiences smaller price fluctuations and is considered to be less risky than GABF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMHC	GABF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	4.36%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	4.29%	13.29%	-9.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.52%	17.50%	-11.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.06%	20.49%	-11.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.94%	20.49%	-11.55%

EMHC vs. GABF - Expense Ratio Comparison

EMHC has a 0.23% expense ratio, which is higher than GABF's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EMHC vs. GABF - Dividend Comparison

EMHC's dividend yield for the trailing twelve months is around 6.08%, more than GABF's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF	6.08%	6.16%	5.95%	5.12%	5.11%	2.97%
GABF Gabelli Financial Services Opportunities ETF	2.05%	1.96%	4.19%	4.95%	1.31%	0.00%

Frequently Asked Questions

Can I hold both EMHC and GABF in my portfolio?

EMHC and GABF have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMHC or GABF?

GABF has higher volatility (4.36%) compared to EMHC (1.63%). In terms of maximum drawdown, EMHC dropped -28.03% vs GABF's -20.86%.

Which ETF is better, EMHC or GABF?

On 3-year performance, GABF leads with 21.66% vs 8.52% for EMHC. On fees, GABF is cheaper at 0.10% per year. On volatility, EMHC has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMHC or GABF?

Over the 3-year period, GABF has performed better with a 21.66% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMHC or GABF?

GABF is cheaper with a 0.10% expense ratio, compared with 0.23% for EMHC.

Which ETF pays a higher dividend yield, EMHC or GABF?

EMHC has the higher dividend yield at 6.08%, compared with 2.05% for GABF.

What is the main difference between EMHC and GABF?

EMHC is categorized as Emerging Markets Bonds, while GABF is Financials Equities. They also come from different issuers: State Street and Gabelli. Their fees differ too: 0.23% for EMHC and 0.10% for GABF.

Which has better risk-adjusted returns?

EMHC currently has the higher Sharpe Ratio (2.06 vs -0.02), 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.