GEM vs. EVLU
GEM (Goldman Sachs ActiveBeta Emerging Markets Equity ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - GEM tracks the Goldman Sachs ActiveBeta Emerging Markets Equity Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, GEM returned 54.83% vs 72.04% for EVLU. Their correlation of 0.92 suggests significant overlap in exposure. GEM charges 0.45%/yr vs 0.35%/yr for EVLU.
Performance
GEM vs. EVLU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GEM achieves a 27.56% return, which is significantly lower than EVLU's 34.01% return.
GEM
- 1D
- -1.04%
- 1M
- 9.44%
- YTD
- 27.56%
- 6M
- 30.41%
- 1Y
- 54.83%
- 3Y*
- 23.85%
- 5Y*
- 7.91%
- 10Y*
- 10.00%
EVLU
- 1D
- -2.27%
- 1M
- 15.31%
- YTD
- 34.01%
- 6M
- 37.37%
- 1Y
- 72.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GEM vs. EVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 27.56% | 33.43% | 1.88% |
EVLU iShares MSCI Emerging Markets Value Factor ETF | 34.01% | 38.54% | 1.61% |
Correlation
The correlation between GEM and EVLU is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024 | 0.92 |
The correlation between GEM and EVLU has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GEM vs. EVLU — Risk / Return Rank
GEM
EVLU
GEM vs. EVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.
| GEM | EVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.67 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 5.61 | -1.53 |
| Martin ratioReturn relative to average drawdown | 15.81 | 20.79 | -4.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GEM | EVLU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 3.80 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 2.23 | -1.70 |
Drawdowns
GEM vs. EVLU - Drawdown Comparison
The maximum GEM drawdown since its inception was -37.02%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for GEM and EVLU.
Loading charts...
Drawdown Indicators
| GEM | EVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -17.17% | -19.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.50% | -12.90% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.43% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.02% | — | — |
Current DrawdownCurrent decline from peak | -1.04% | -2.27% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -3.48% | -8.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.48% | 0.00% |
Volatility
GEM vs. EVLU - Volatility Comparison
The current volatility for Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) is 8.60%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 9.17%. This indicates that GEM experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GEM | EVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.60% | 9.17% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 16.96% | 16.23% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.51% | 19.04% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 19.93% | -2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.03% | 19.93% | -0.90% |
GEM vs. EVLU - Expense Ratio Comparison
GEM has a 0.45% expense ratio, which is higher than EVLU's 0.35% expense ratio.
Dividends
GEM vs. EVLU - Dividend Comparison
GEM's dividend yield for the trailing twelve months is around 1.80%, less than EVLU's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EVLU iShares MSCI Emerging Markets Value Factor ETF | 3.88% | 5.20% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 1.80% | 2.30% | 2.58% | 2.97% | 2.96% | 3.00% | 1.63% | 3.13% | 2.08% | 1.81% | 1.98% | 0.25% |
Frequently Asked Questions
With a correlation of 0.91, GEM and EVLU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EVLU has higher volatility (9.17%) compared to GEM (8.60%). In terms of maximum drawdown, GEM dropped -37.02% vs EVLU's -17.17%.
On 1-year performance, EVLU leads with 72.04% vs 54.83% for GEM. On fees, EVLU is cheaper at 0.35% per year. On volatility, GEM has been the lower-risk option at 8.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EVLU has performed better with a 72.04% return vs 54.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVLU is cheaper with a 0.35% expense ratio, compared with 0.45% for GEM.
EVLU has the higher dividend yield at 3.88%, compared with 1.80% for GEM.
GEM tracks Goldman Sachs ActiveBeta Emerging Markets Equity Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.45% for GEM and 0.35% for EVLU.
EVLU currently has the higher Sharpe Ratio (3.80 vs 2.82), 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.
Find the right allocation for GEM and EVLU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer