GEM vs. GVIP
Compare and contrast key facts about Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and Goldman Sachs Hedge Industry VIP ETF (GVIP).
GEM and GVIP 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. GVIP is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs Hedge Fund VIP Index. It was launched on Nov 1, 2016. Both GEM and GVIP 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. GVIP - Performance Comparison
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GEM vs. GVIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 3.80% | 33.43% | 6.66% | 11.82% | -21.33% | -0.19% | 13.23% | 17.79% | -14.25% | 36.43% |
GVIP Goldman Sachs Hedge Industry VIP ETF | -5.92% | 25.27% | 29.82% | 39.15% | -31.95% | 11.86% | 44.12% | 30.21% | -6.85% | 25.79% |
Returns By Period
In the year-to-date period, GEM achieves a 3.80% return, which is significantly higher than GVIP's -5.92% return.
GEM
- 1D
- 3.52%
- 1M
- -9.22%
- YTD
- 3.80%
- 6M
- 8.54%
- 1Y
- 33.24%
- 3Y*
- 15.80%
- 5Y*
- 4.48%
- 10Y*
- 7.72%
GVIP
- 1D
- 4.35%
- 1M
- -6.82%
- YTD
- -5.92%
- 6M
- -4.60%
- 1Y
- 24.04%
- 3Y*
- 24.28%
- 5Y*
- 8.97%
- 10Y*
- —
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GEM vs. GVIP - Expense Ratio Comparison
Both GEM and GVIP have an expense ratio of 0.45%.
Return for Risk
GEM vs. GVIP — Risk / Return Rank
GEM
GVIP
GEM vs. GVIP - 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 Hedge Industry VIP ETF (GVIP). 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 | GVIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.70 | 1.04 | +0.66 |
Sortino ratioReturn per unit of downside risk | 2.32 | 1.55 | +0.77 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.22 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.76 | +0.68 |
Martin ratioReturn relative to average drawdown | 9.52 | 6.94 | +2.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GEM | GVIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 1.04 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.43 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.71 | -0.28 |
Correlation
The correlation between GEM and GVIP is 0.67, 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. GVIP - Dividend Comparison
GEM's dividend yield for the trailing twelve months is around 2.22%, more than GVIP's 0.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 2.22% | 2.30% | 2.58% | 2.97% | 2.96% | 3.00% | 1.63% | 3.13% | 2.08% | 1.81% | 1.98% | 0.25% |
GVIP Goldman Sachs Hedge Industry VIP ETF | 0.36% | 0.34% | 0.29% | 0.77% | 0.02% | 0.00% | 0.12% | 0.77% | 0.44% | 0.45% | 0.08% | 0.00% |
Drawdowns
GEM vs. GVIP - Drawdown Comparison
The maximum GEM drawdown since its inception was -37.02%, roughly equal to the maximum GVIP drawdown of -37.09%. Use the drawdown chart below to compare losses from any high point for GEM and GVIP.
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Drawdown Indicators
| GEM | GVIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -37.09% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.50% | -13.67% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -35.50% | -37.09% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -37.02% | — | — |
Current DrawdownCurrent decline from peak | -10.45% | -9.91% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -12.17% | -7.71% | -4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 3.47% | -0.02% |
Volatility
GEM vs. GVIP - Volatility Comparison
Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) has a higher volatility of 10.14% compared to Goldman Sachs Hedge Industry VIP ETF (GVIP) at 8.62%. This indicates that GEM's price experiences larger fluctuations and is considered to be riskier than GVIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEM | GVIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.14% | 8.62% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 14.52% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.68% | 23.32% | -3.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 21.19% | -4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 21.68% | -2.88% |