GAEM vs. EMBX

Last updated Aug 2, 2026

GAEM (Simplify Gamma Emerging Market Bond ETF) and EMBX (VanEck Emerging Markets Bond ETF) are both Emerging Markets Bonds funds. Both are actively managed. Over the past year, GAEM returned 10.20% vs 11.28% for EMBX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.76% expense ratio.

Performance

GAEM vs. EMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Gamma Emerging Market Bond ETF (GAEM) and VanEck Emerging Markets Bond ETF (EMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAEM achieves a 3.58% return, which is significantly lower than EMBX's 3.80% return.

GAEM

• 1D: -0.16%
• 1M: -0.96%
• 6M: 2.59%
• YTD: 3.58%
• 1Y: 10.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.75%

EMBX

• 1D: 0.06%
• 1M: -0.06%
• 6M: 1.53%
• YTD: 3.80%
• 1Y: 11.28%
• 3Y*: 9.06%
• 5Y*: 4.44%
• 10Y*: 4.89%
• ALL TIME*: 3.32%

*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)
EMBX VanEck Emerging Markets Bond ETF	$1.66M	$1.74M	$2.17M
GAEM Simplify Gamma Emerging Market Bond ETF	$246.87K	$265.32K	$263.25K

GAEM vs. EMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GAEM Simplify Gamma Emerging Market Bond ETF	3.58%	13.55%	3.89%
EMBX VanEck Emerging Markets Bond ETF	3.80%	18.80%	-0.66%

Correlation

The correlation between GAEM and EMBX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024	0.55

The correlation between GAEM and EMBX shifts across timeframes, from 0.55 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GAEM vs. EMBX — Risk / Return Rank

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

GAEM

GAEM Risk / Return Rank: 87
GAEM Sharpe Ratio Rank: 87
GAEM Sortino Ratio Rank: 91
GAEM Omega Ratio Rank: 89
GAEM Calmar Ratio Rank: 79
GAEM Martin Ratio Rank: 86

EMBX

EMBX Risk / Return Rank: 79
EMBX Sharpe Ratio Rank: 84
EMBX Sortino Ratio Rank: 86
EMBX Omega Ratio Rank: 85
EMBX Calmar Ratio Rank: 65
EMBX Martin Ratio Rank: 75

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.

GAEM vs. EMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Gamma Emerging Market Bond ETF (GAEM) and VanEck Emerging Markets Bond ETF (EMBX). 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.

	GAEM	EMBX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.98	+0.13
Sortino ratio: Return per unit of downside risk	3.28	2.88	+0.40
Omega ratio: Gain probability vs. loss probability	1.41	1.37	+0.03
Calmar ratio: Return relative to maximum drawdown	2.84	2.28	+0.56
Martin ratio: Return relative to average drawdown	12.42	9.30	+3.12

GAEM vs. EMBX - Sharpe Ratio Comparison

The current GAEM Sharpe Ratio is 2.11, which is comparable to the EMBX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of GAEM and EMBX, 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

GAEM vs. EMBX - Drawdown Comparison

The maximum GAEM drawdown since its inception was -3.84%, smaller than the maximum EMBX drawdown of -25.11%. Use the drawdown chart below to compare losses from any high point for GAEM and EMBX.

Drawdown Indicators

	GAEM	EMBX	Difference
Max Drawdown Largest peak-to-trough decline	-3.84%	-25.11%	+21.27%
Max Drawdown (1Y) Largest decline over 1 year	-3.61%	-5.14%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.11%	—
Current Drawdown Current decline from peak	-1.21%	-0.78%	-0.43%
Average Drawdown Average peak-to-trough decline	-0.52%	-7.01%	+6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	1.26%	-0.44%

Volatility

GAEM vs. EMBX - Volatility Comparison

Simplify Gamma Emerging Market Bond ETF (GAEM) and VanEck Emerging Markets Bond ETF (EMBX) have volatilities of 1.33% and 1.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAEM	EMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.34%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	5.06%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.87%	5.93%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	6.13%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	6.67%	-1.72%

GAEM vs. EMBX - Expense Ratio Comparison

Both GAEM and EMBX have an expense ratio of 0.76%.

Dividends

GAEM vs. EMBX - Dividend Comparison

GAEM's dividend yield for the trailing twelve months is around 7.14%, more than EMBX's 5.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMBX VanEck Emerging Markets Bond ETF	5.30%	6.95%	8.20%	5.49%	8.21%	5.50%	6.56%	7.89%	7.25%	7.66%	3.94%	6.84%
GAEM Simplify Gamma Emerging Market Bond ETF	7.14%	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

Can I hold both GAEM and EMBX in my portfolio?

GAEM and EMBX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAEM or EMBX?

EMBX has higher volatility (1.34%) compared to GAEM (1.33%). In terms of maximum drawdown, GAEM dropped -3.84% vs EMBX's -25.11%.

Which ETF is better, GAEM or EMBX?

On 1-year performance, EMBX leads with 11.28% vs 10.20% for GAEM. Both ETFs have the same 0.76% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAEM or EMBX?

Over the 1-year period, EMBX has performed better with a 11.28% return vs 10.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAEM or EMBX?

GAEM and EMBX have the same expense ratio: 0.76% per year.

Which ETF pays a higher dividend yield, GAEM or EMBX?

GAEM has the higher dividend yield at 7.14%, compared with 5.30% for EMBX.

What is the main difference between GAEM and EMBX?

They also come from different issuers: Simplify and VanEck.

Which has better risk-adjusted returns?

GAEM currently has the higher Sharpe Ratio (2.11 vs 1.98), 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.