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GEM vs. GSEW
Performance
Return for Risk
Dividends
Drawdowns
Volatility

GEM vs. GSEW

Last updated Apr 2, 2026

Compare and contrast key facts about Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW).

GEM and GSEW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GEM is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta Emerging Markets Equity Index. It was launched on Sep 29, 2015. GSEW is a passively managed fund by Goldman Sachs that tracks the performance of the Solactive US Large Cap Equal Weight Index. It was launched on Sep 12, 2017. Both GEM and GSEW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GEM vs. GSEW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW). The values are adjusted to include any dividend payments, if applicable.

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GEM vs. GSEW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GEM
Goldman Sachs ActiveBeta Emerging Markets Equity ETF		4.81%33.43%6.66%11.82%-21.33%-0.19%13.23%17.79%-14.25%6.32%
GSEW
Goldman Sachs Equal Weight U.S. Large Cap Equity ETF		0.15%11.97%16.89%17.80%-17.54%25.43%16.28%31.04%-8.11%7.67%

Returns By Period

In the year-to-date period, GEM achieves a 4.81% return, which is significantly higher than GSEW's 0.15% return.

GEM

1D
0.97%
1M
-6.70%
YTD
4.81%
6M
8.61%
1Y
33.77%
3Y*
16.17%
5Y*
4.68%
10Y*
7.83%

GSEW

1D
0.38%
1M
-5.12%
YTD
0.15%
6M
0.69%
1Y
13.18%
3Y*
14.03%
5Y*
7.88%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Goldman Sachs ActiveBeta Emerging Markets Equity ETF

Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

Often compared with GEM:
GEM vs. VWOGEM vs. IEMGGEM vs. SPYGEM vs. JPEMGEM vs. SPEMGEM vs. SPMOGEM vs. SCHE
Often compared with GSEW:
GSEW vs. RSPGSEW vs. EUSAGSEW vs. VOOGSEW vs. VUGGSEW vs. SWPPXGSEW vs. QUSGSEW vs. SCHG

GEM vs. GSEW - Expense Ratio Comparison

GEM has a 0.45% expense ratio, which is higher than GSEW's 0.09% expense ratio.

GEM
Goldman Sachs ActiveBeta Emerging Markets Equity ETF
GSEW
Goldman Sachs Equal Weight U.S. Large Cap Equity ETF

Return for Risk

GEM vs. GSEW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GEM
GEM Risk / Return Rank: 8383
Overall Rank
GEM Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
GEM Sortino Ratio Rank: 8585
Sortino Ratio Rank
GEM Omega Ratio Rank: 8383
Omega Ratio Rank
GEM Calmar Ratio Rank: 8383
Calmar Ratio Rank
GEM Martin Ratio Rank: 8282
Martin Ratio Rank
GSEW
GSEW Risk / Return Rank: 4141
Overall Rank
GSEW Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
GSEW Sortino Ratio Rank: 3939
Sortino Ratio Rank
GSEW Omega Ratio Rank: 4040
Omega Ratio Rank
GSEW Calmar Ratio Rank: 3939
Calmar Ratio Rank
GSEW Martin Ratio Rank: 4848
Martin Ratio Rank
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.

GEM vs. GSEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW). 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.

GEMGSEWDifference

Sharpe ratio

Return per unit of total volatility

1.72

0.75

+0.97

Sortino ratio

Return per unit of downside risk

2.35

1.16

+1.19

Omega ratio

Gain probability vs. loss probability

1.34

1.17

+0.17

Calmar ratio

Return relative to maximum drawdown

2.56

1.06

+1.50

Martin ratio

Return relative to average drawdown

9.85

4.86

+4.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GEM vs. GSEW - Sharpe Ratio Comparison

The current GEM Sharpe Ratio is 1.72, which is higher than the GSEW Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of GEM and GSEW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

GEMGSEWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.72

0.75

+0.97

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.27

0.47

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.56

-0.13

Correlation

The correlation between GEM and GSEW is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GEM vs. GSEW - Dividend Comparison

GEM's dividend yield for the trailing twelve months is around 2.20%, more than GSEW's 1.55% yield.

TTM20252024202320222021202020192018201720162015
GEM
Goldman Sachs ActiveBeta Emerging Markets Equity ETF		2.20%2.30%2.58%2.97%2.96%3.00%1.63%3.13%2.08%1.81%1.98%0.25%
GSEW
Goldman Sachs Equal Weight U.S. Large Cap Equity ETF		1.55%1.52%1.46%1.64%1.74%1.34%1.53%1.66%1.56%0.54%0.00%0.00%

Drawdowns

GEM vs. GSEW - Drawdown Comparison

The maximum GEM drawdown since its inception was -37.02%, roughly equal to the maximum GSEW drawdown of -38.65%. Use the drawdown chart below to compare losses from any high point for GEM and GSEW.

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Drawdown Indicators

GEMGSEWDifference

Max Drawdown

Largest peak-to-trough decline

-37.02%

-38.65%

+1.63%

Max Drawdown (1Y)

Largest decline over 1 year

-13.50%

-12.71%

-0.79%

Max Drawdown (5Y)

Largest decline over 5 years

-35.50%

-25.74%

-9.76%

Max Drawdown (10Y)

Largest decline over 10 years

-37.02%

—

—

Current Drawdown

Current decline from peak

-9.58%

-5.14%

-4.44%

Average Drawdown

Average peak-to-trough decline

-12.17%

-5.99%

-6.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.51%

2.78%

+0.73%

Volatility

GEM vs. GSEW - Volatility Comparison

Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) has a higher volatility of 9.00% compared to Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) at 4.87%. This indicates that GEM's price experiences larger fluctuations and is considered to be riskier than GSEW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GEMGSEWDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.00%

4.87%

+4.13%

Volatility (6M)

Calculated over the trailing 6-month period

14.58%

9.59%

+4.99%

Volatility (1Y)

Calculated over the trailing 1-year period

19.70%

17.69%

+2.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.19%

16.91%

+0.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.80%

19.32%

-0.52%