EMSF vs. GEME

Last updated Aug 2, 2026

EMSF (Matthews Emerging Markets Sustainable Future Active ETF) and GEME (Pacific North of South Global Emerging Markets Equity Active ETF) are both Emerging Markets Equities funds. Both are actively managed. Over the past year, EMSF returned 42.52% vs 60.84% for GEME. Their correlation of 0.87 means they have usually moved in the same direction. EMSF charges 0.79%/yr vs 0.75%/yr for GEME.

Performance

EMSF vs. GEME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Sustainable Future Active ETF (EMSF) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EMSF having a 30.73% return and GEME slightly lower at 29.70%.

EMSF

• 1D: 0.83%
• 1M: -8.36%
• 6M: 17.49%
• YTD: 30.73%
• 1Y: 42.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.92%

GEME

• 1D: 1.51%
• 1M: -0.95%
• 6M: 16.89%
• YTD: 29.70%
• 1Y: 60.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 46.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMSF Matthews Emerging Markets Sustainable Future Active ETF	$80.02K	$93.23K	$184.42K
GEME Pacific North of South Global Emerging Markets Equity Active ETF	$6.60M	$4.28M	$3.34M

EMSF vs. GEME - Yearly Performance Comparison

	2026 (YTD)	2025
EMSF Matthews Emerging Markets Sustainable Future Active ETF	30.73%	17.28%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	29.70%	37.43%

Correlation

The correlation between EMSF and GEME is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.87

The correlation between EMSF and GEME has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

EMSF vs. GEME — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EMSF

EMSF Risk / Return Rank: 57
EMSF Sharpe Ratio Rank: 57
EMSF Sortino Ratio Rank: 52
EMSF Omega Ratio Rank: 58
EMSF Calmar Ratio Rank: 60
EMSF Martin Ratio Rank: 59

GEME

GEME Risk / Return Rank: 90
GEME Sharpe Ratio Rank: 93
GEME Sortino Ratio Rank: 88
GEME Omega Ratio Rank: 90
GEME Calmar Ratio Rank: 93
GEME Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMSF vs. GEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Sustainable Future Active ETF (EMSF) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). 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.

	EMSF	GEME	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.46	-1.10
Sortino ratio: Return per unit of downside risk	1.86	2.99	-1.13
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	2.10	4.41	-2.31
Martin ratio: Return relative to average drawdown	7.05	13.63	-6.58

EMSF vs. GEME - Sharpe Ratio Comparison

The current EMSF Sharpe Ratio is 1.36, which is lower than the GEME Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of EMSF and GEME, 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

EMSF vs. GEME - Drawdown Comparison

The maximum EMSF drawdown since its inception was -24.75%, which is greater than GEME's maximum drawdown of -16.86%. Use the drawdown chart below to compare losses from any high point for EMSF and GEME.

Drawdown Indicators

	EMSF	GEME	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-16.86%	-7.89%
Max Drawdown (1Y) Largest decline over 1 year	-19.49%	-13.46%	-6.03%
Current Drawdown Current decline from peak	-15.62%	-7.52%	-8.10%
Average Drawdown Average peak-to-trough decline	-5.91%	-2.72%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.80%	4.35%	+1.45%

Volatility

EMSF vs. GEME - Volatility Comparison

Matthews Emerging Markets Sustainable Future Active ETF (EMSF) has a higher volatility of 10.79% compared to Pacific North of South Global Emerging Markets Equity Active ETF (GEME) at 7.60%. This indicates that EMSF's price experiences larger fluctuations and is considered to be riskier than GEME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMSF	GEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.79%	7.60%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	26.54%	21.41%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	30.10%	24.18%	+5.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.40%	24.09%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.40%	24.09%	+0.31%

EMSF vs. GEME - Expense Ratio Comparison

EMSF has a 0.79% expense ratio, which is higher than GEME's 0.75% expense ratio.

Dividends

EMSF vs. GEME - Dividend Comparison

EMSF's dividend yield for the trailing twelve months is around 1.44%, less than GEME's 5.40% yield.

Position	TTM	2025	2024	2023
EMSF Matthews Emerging Markets Sustainable Future Active ETF	1.44%	1.88%	3.29%	0.02%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	5.40%	7.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMSF and GEME in my portfolio?

EMSF and GEME have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMSF or GEME?

EMSF has higher volatility (10.79%) compared to GEME (7.60%). In terms of maximum drawdown, EMSF dropped -24.75% vs GEME's -16.86%.

Which ETF is better, EMSF or GEME?

On 1-year performance, GEME leads with 60.84% vs 42.52% for EMSF. On fees, GEME is cheaper at 0.75% per year. On volatility, GEME has been the lower-risk option at 7.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMSF or GEME?

Over the 1-year period, GEME has performed better with a 60.84% return vs 42.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMSF or GEME?

GEME is cheaper with a 0.75% expense ratio, compared with 0.79% for EMSF.

Which ETF pays a higher dividend yield, EMSF or GEME?

GEME has the higher dividend yield at 5.40%, compared with 1.44% for EMSF.

What is the main difference between EMSF and GEME?

They also come from different issuers: Matthews and Pacific AM. Their fees differ too: 0.79% for EMSF and 0.75% for GEME.

Which has better risk-adjusted returns?

GEME currently has the higher Sharpe Ratio (2.46 vs 1.36), 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.