GABF vs. GEMD

Last updated Jul 17, 2026

GABF (Gabelli Financial Services Opportunities ETF) and GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) are both exchange-traded funds - GABF is a Financials Equities fund actively managed by Gabelli, while GEMD is a Emerging Markets Bonds fund tracking the FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. GABF is actively managed, while GEMD is passively managed. Over the past 3 years, GABF returned 20.28%/yr vs 7.53%/yr for GEMD. At a 0.42 correlation, their price movements are largely independent. GABF charges 0.10%/yr vs 0.39%/yr for GEMD.

Performance

GABF vs. GEMD - Performance Comparison

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

Returns By Period

In the year-to-date period, GABF achieves a -0.55% return, which is significantly lower than GEMD's 1.69% return.

GABF

• 1D: 0.60%
• 1M: 1.78%
• 6M: -4.09%
• YTD: -0.55%
• 1Y: -2.77%
• 3Y*: 20.28%
• 5Y*: —
• 10Y*: —

GEMD

• 1D: -0.13%
• 1M: -0.92%
• 6M: 1.46%
• YTD: 1.69%
• 1Y: 9.49%
• 3Y*: 7.53%
• 5Y*: —
• 10Y*: —

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

GABF vs. GEMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GABF Gabelli Financial Services Opportunities ETF	-0.55%	3.60%	44.38%	38.92%	-0.04%
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF	1.69%	13.67%	3.31%	8.51%	-0.82%

Correlation

The correlation between GABF and GEMD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since May 10, 2022	0.42

Return for Risk

GABF vs. GEMD — Risk / Return Rank

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

GABF

GABF Risk / Return Rank: 8
GABF Sharpe Ratio Rank: 8
GABF Sortino Ratio Rank: 7
GABF Omega Ratio Rank: 7
GABF Calmar Ratio Rank: 8
GABF Martin Ratio Rank: 8

GEMD

GEMD Risk / Return Rank: 62
GEMD Sharpe Ratio Rank: 65
GEMD Sortino Ratio Rank: 69
GEMD Omega Ratio Rank: 67
GEMD Calmar Ratio Rank: 50
GEMD Martin Ratio Rank: 61

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.

GABF vs. GEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gabelli Financial Services Opportunities ETF (GABF) and Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD). 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.

	GABF	GEMD	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	1.70	-1.86
Sortino ratio: Return per unit of downside risk	-0.10	2.49	-2.59
Omega ratio: Gain probability vs. loss probability	0.99	1.32	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.16	2.05	-2.21
Martin ratio: Return relative to average drawdown	-0.36	8.60	-8.95

GABF vs. GEMD - Sharpe Ratio Comparison

The current GABF Sharpe Ratio is -0.16, which is lower than the GEMD Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of GABF and GEMD, 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

GABF vs. GEMD - Drawdown Comparison

The maximum GABF drawdown since its inception was -20.86%, smaller than the maximum GEMD drawdown of -24.56%. Use the drawdown chart below to compare losses from any high point for GABF and GEMD.

Drawdown Indicators

	GABF	GEMD	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-24.56%	+3.70%
Max Drawdown (1Y) Largest decline over 1 year	-17.16%	-4.64%	-12.52%
Max Drawdown (3Y) Largest decline over 3 years	-20.86%	-7.69%	-13.17%
Current Drawdown Current decline from peak	-5.44%	-1.01%	-4.43%
Average Drawdown Average peak-to-trough decline	-4.95%	-7.98%	+3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.80%	1.11%	+6.69%

Volatility

GABF vs. GEMD - Volatility Comparison

Gabelli Financial Services Opportunities ETF (GABF) has a higher volatility of 4.48% compared to Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) at 1.26%. This indicates that GABF's price experiences larger fluctuations and is considered to be riskier than GEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GABF	GEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	1.26%	+3.22%
Volatility (6M) Calculated over the trailing 6-month period	13.33%	4.66%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.49%	5.62%	+11.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	9.86%	+10.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	9.86%	+10.56%

GABF vs. GEMD - Expense Ratio Comparison

GABF has a 0.10% expense ratio, which is lower than GEMD's 0.39% expense ratio.

Dividends

GABF vs. GEMD - Dividend Comparison

GABF's dividend yield for the trailing twelve months is around 1.97%, less than GEMD's 5.71% yield.

Position	TTM	2025	2024	2023	2022
GABF Gabelli Financial Services Opportunities ETF	1.97%	1.96%	4.19%	4.95%	1.31%
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF	5.71%	6.32%	5.79%	5.70%	5.42%

Frequently Asked Questions

Can I hold both GABF and GEMD in my portfolio?

GABF and GEMD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GABF or GEMD?

GABF has higher volatility (4.48%) compared to GEMD (1.26%). In terms of maximum drawdown, GABF dropped -20.86% vs GEMD's -24.56%.

Which ETF is better, GABF or GEMD?

On 3-year performance, GABF leads with 20.28% vs 7.53% for GEMD. On fees, GABF is cheaper at 0.10% per year. On volatility, GEMD has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GABF or GEMD?

Over the 3-year period, GABF has performed better with a 20.28% return vs 7.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GABF or GEMD?

GABF is cheaper with a 0.10% expense ratio, compared with 0.39% for GEMD.

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

GEMD has the higher dividend yield at 5.71%, compared with 1.97% for GABF.

What is the main difference between GABF and GEMD?

GABF is categorized as Financials Equities, while GEMD is Emerging Markets Bonds. They also come from different issuers: Gabelli and Goldman Sachs. Their fees differ too: 0.10% for GABF and 0.39% for GEMD.

Which has better risk-adjusted returns?

GEMD currently has the higher Sharpe Ratio (1.70 vs -0.16), 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.