GEM vs. TDEC
GEM (Goldman Sachs ActiveBeta Emerging Markets Equity ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - GEM is a Emerging Markets Equities fund tracking the Goldman Sachs ActiveBeta Emerging Markets Equity Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, GEM returned 50.97% vs 22.62% for TDEC. Their correlation of 0.93 suggests significant overlap in exposure. GEM charges 0.45%/yr vs 0.95%/yr for TDEC.
Performance
GEM vs. TDEC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GEM achieves a 26.12% return, which is significantly higher than TDEC's 8.78% return.
GEM
- 1D
- -1.13%
- 1M
- 6.24%
- YTD
- 26.12%
- 6M
- 29.03%
- 1Y
- 50.97%
- 3Y*
- 23.48%
- 5Y*
- 7.67%
- 10Y*
- 9.79%
TDEC
- 1D
- -0.33%
- 1M
- 0.36%
- YTD
- 8.78%
- 6M
- 10.67%
- 1Y
- 22.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GEM vs. TDEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 26.12% | 33.43% | -1.39% |
TDEC FT Vest Emerging Markets Buffer ETF - December | 8.78% | 21.39% | -0.70% |
Correlation
The correlation between GEM and TDEC is 0.92, 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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2024 | 0.93 |
The correlation between GEM and TDEC has been stable across timeframes, ranging from 0.92 to 0.93 - 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. TDEC — Risk / Return Rank
GEM
TDEC
GEM vs. TDEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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 | TDEC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.50 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 2.79 | +1.01 |
| Martin ratioReturn relative to average drawdown | 14.69 | 12.24 | +2.45 |
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 | TDEC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.26 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 1.78 | -1.26 |
Drawdowns
GEM vs. TDEC - Drawdown Comparison
The maximum GEM drawdown since its inception was -37.02%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for GEM and TDEC.
Loading charts...
Drawdown Indicators
| GEM | TDEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.02% | -10.30% | -26.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.50% | -8.16% | -5.34% |
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 | -2.16% | -0.66% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -12.01% | -1.04% | -10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 1.85% | +1.63% |
Volatility
GEM vs. TDEC - Volatility Comparison
Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) has a higher volatility of 8.61% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 2.72%. This indicates that GEM's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GEM | TDEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.61% | 2.72% | +5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 9.03% | +7.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 10.09% | +9.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.71% | 11.73% | +5.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.03% | 11.73% | +7.30% |
GEM vs. TDEC - Expense Ratio Comparison
GEM has a 0.45% expense ratio, which is lower than TDEC's 0.95% expense ratio.
Dividends
GEM vs. TDEC - Dividend Comparison
GEM's dividend yield for the trailing twelve months is around 1.83%, while TDEC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 1.83% | 2.30% | 2.58% | 2.97% | 2.96% | 3.00% | 1.63% | 3.13% | 2.08% | 1.81% | 1.98% | 0.25% |
TDEC FT Vest Emerging Markets Buffer ETF - December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, GEM and TDEC 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.
GEM has higher volatility (8.61%) compared to TDEC (2.72%). In terms of maximum drawdown, GEM dropped -37.02% vs TDEC's -10.30%.
On 1-year performance, GEM leads with 50.97% vs 22.62% for TDEC. On fees, GEM is cheaper at 0.45% per year. On volatility, TDEC has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GEM has performed better with a 50.97% return vs 22.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GEM is cheaper with a 0.45% expense ratio, compared with 0.95% for TDEC.
GEM has the higher dividend yield at 1.83%, compared with 0.00% for TDEC.
GEM is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. GEM tracks Goldman Sachs ActiveBeta Emerging Markets Equity Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: Goldman Sachs and FT Vest. Their fees differ too: 0.45% for GEM and 0.95% for TDEC.
GEM currently has the higher Sharpe Ratio (2.63 vs 2.26), 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 TDEC
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