GASF.DE vs. SEAD.DE
GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) and SEAD.DE (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist) are both Emerging Markets Bonds funds - GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index while SEAD.DE tracks the JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged). Both are passively managed. Over the past 5 years, GASF.DE returned 3.52%/yr vs 0.95%/yr for SEAD.DE. At a correlation of -0.17, they often move in opposite directions. GASF.DE charges 0.24%/yr vs 0.38%/yr for SEAD.DE.
Performance
GASF.DE vs. SEAD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GASF.DE achieves a 7.95% return, which is significantly higher than SEAD.DE's 1.27% return.
GASF.DE
- 1D
- 0.06%
- 1M
- 1.40%
- 6M
- 6.61%
- YTD
- 7.95%
- 1Y
- 8.98%
- 3Y*
- 5.09%
- 5Y*
- 3.52%
- 10Y*
- —
SEAD.DE
- 1D
- 0.00%
- 1M
- -0.32%
- 6M
- 0.96%
- YTD
- 1.27%
- 1Y
- 5.11%
- 3Y*
- 5.84%
- 5Y*
- 0.95%
- 10Y*
- —
GASF.DE vs. SEAD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.95% | -6.82% | 10.85% | -2.28% | 0.91% | 16.54% | -0.76% | -0.33% |
SEAD.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist | 1.27% | 7.68% | 5.50% | 5.69% | -12.29% | -0.78% | 1.78% | 1.13% |
Correlation
The correlation between GASF.DE and SEAD.DE is -0.20, 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 (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2019 | -0.17 |
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Return for Risk
GASF.DE vs. SEAD.DE — Risk / Return Rank
GASF.DE
SEAD.DE
GASF.DE vs. SEAD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist (SEAD.DE). 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.
| GASF.DE | SEAD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.45 | +0.39 |
| Martin ratioReturn relative to average drawdown | 8.54 | 9.84 | -1.31 |
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Drawdowns
GASF.DE vs. SEAD.DE - Drawdown Comparison
The maximum GASF.DE drawdown since its inception was -13.75%, smaller than the maximum SEAD.DE drawdown of -17.98%. Use the drawdown chart below to compare losses from any high point for GASF.DE and SEAD.DE.
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Drawdown Indicators
| GASF.DE | SEAD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.75% | -17.98% | +4.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -2.08% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -11.00% | -2.40% | -8.60% |
Max Drawdown (5Y)Largest decline over 5 years | -13.75% | -17.98% | +4.23% |
Current DrawdownCurrent decline from peak | -1.53% | -0.55% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -5.63% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.52% | +0.60% |
Volatility
GASF.DE vs. SEAD.DE - Volatility Comparison
Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a higher volatility of 1.48% compared to UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist (SEAD.DE) at 0.58%. This indicates that GASF.DE's price experiences larger fluctuations and is considered to be riskier than SEAD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GASF.DE | SEAD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.58% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 2.40% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 2.87% | +2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 4.31% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.71% | 4.80% | +2.91% |
GASF.DE vs. SEAD.DE - Expense Ratio Comparison
GASF.DE has a 0.24% expense ratio, which is lower than SEAD.DE's 0.38% expense ratio.
Dividends
GASF.DE vs. SEAD.DE - Dividend Comparison
GASF.DE's dividend yield for the trailing twelve months is around 1.98%, less than SEAD.DE's 6.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.98% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
SEAD.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist | 6.89% | 4.97% | 6.21% | 4.80% | 4.53% | 4.02% | 2.40% |
Frequently Asked Questions
GASF.DE and SEAD.DE have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.38% for SEAD.DE.
GASF.DE tracks FTSE Goldman Sachs China Government Bond Index, while SEAD.DE tracks JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged). They also come from different issuers: Goldman Sachs and UBS. Their fees differ too: 0.24% for GASF.DE and 0.38% for SEAD.DE.
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