EMKT vs. GSG

Last updated Jun 4, 2026

EMKT (Lazard Emerging Markets Opportunities ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - EMKT is a Emerging Markets Diversified fund actively managed by Lazard, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. EMKT is actively managed, while GSG is passively managed. At a correlation of -0.29, they often move in opposite directions. EMKT charges 0.74%/yr vs 0.75%/yr for GSG.

Performance

EMKT vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Emerging Markets Opportunities ETF (EMKT) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMKT achieves a 30.02% return, which is significantly lower than GSG's 42.58% return.

EMKT

• 1D: -1.45%
• 1M: 11.71%
• YTD: 30.02%
• 6M: 31.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

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

EMKT vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025
EMKT Lazard Emerging Markets Opportunities ETF	30.02%	-1.29%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	-0.52%

Correlation

The correlation between EMKT and GSG is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	-0.29

Return for Risk

EMKT vs. GSG — Risk / Return Rank

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

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

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.

EMKT vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Emerging Markets Opportunities ETF (EMKT) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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.

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

Sharpe Ratios by Period

	EMKT	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.33	-0.09	+2.41

Drawdowns

EMKT vs. GSG - Drawdown Comparison

The maximum EMKT drawdown since its inception was -14.21%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for EMKT and GSG.

Drawdown Indicators

	EMKT	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-89.62%	+75.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	-1.45%	-56.95%	+55.50%
Average Drawdown Average peak-to-trough decline	-3.04%	-63.71%	+60.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.59%	—

Volatility

Volatility by Period

	EMKT	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	22.95%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	22.61%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	22.03%	+0.43%

EMKT vs. GSG - Expense Ratio Comparison

EMKT has a 0.74% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

EMKT vs. GSG - Dividend Comparison

Neither EMKT nor GSG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMKT and GSG in my portfolio?

EMKT and GSG have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMKT or GSG?

On fees, EMKT is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMKT or GSG?

EMKT is cheaper with a 0.74% expense ratio, compared with 0.75% for GSG.

Which ETF pays a higher dividend yield, EMKT or GSG?

EMKT and GSG have nearly identical dividend yields, around 0.00%.

What is the main difference between EMKT and GSG?

EMKT is categorized as Emerging Markets Diversified, while GSG is Commodities. They also come from different issuers: Lazard and iShares. Their fees differ too: 0.74% for EMKT and 0.75% for GSG.