GEMD vs. EBND
Compare and contrast key facts about Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND).
GEMD and EBND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GEMD is a passively managed fund by Goldman Sachs that tracks the performance of the FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. It was launched on Feb 15, 2022. EBND is a passively managed fund by State Street that tracks the performance of the Bloomberg Emerging Market Local Currency Government Diversified. It was launched on Feb 23, 2011. Both GEMD and EBND 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
GEMD vs. EBND - Performance Comparison
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GEMD vs. EBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | -1.32% | 13.67% | 3.31% | 8.51% | -15.70% |
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | -2.06% | 15.83% | -2.70% | 9.02% | -12.31% |
Returns By Period
In the year-to-date period, GEMD achieves a -1.32% return, which is significantly higher than EBND's -2.06% return.
GEMD
- 1D
- 0.30%
- 1M
- -2.82%
- YTD
- -1.32%
- 6M
- 1.46%
- 1Y
- 8.93%
- 3Y*
- 6.99%
- 5Y*
- —
- 10Y*
- —
EBND
- 1D
- 0.50%
- 1M
- -3.83%
- YTD
- -2.06%
- 6M
- -0.33%
- 1Y
- 9.34%
- 3Y*
- 4.96%
- 5Y*
- 0.45%
- 10Y*
- 1.47%
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GEMD vs. EBND - Expense Ratio Comparison
GEMD has a 0.39% expense ratio, which is higher than EBND's 0.30% expense ratio.
Return for Risk
GEMD vs. EBND — Risk / Return Rank
GEMD
EBND
GEMD vs. EBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND). 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.
| GEMD | EBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.38 | 1.31 | +0.07 |
Sortino ratioReturn per unit of downside risk | 1.94 | 1.87 | +0.07 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.42 | +0.59 |
Martin ratioReturn relative to average drawdown | 8.23 | 6.17 | +2.06 |
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
| GEMD | EBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.31 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.05 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.09 | +0.05 |
Correlation
The correlation between GEMD and EBND is 0.68, 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
GEMD vs. EBND - Dividend Comparison
GEMD's dividend yield for the trailing twelve months is around 6.55%, more than EBND's 5.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 6.55% | 6.32% | 5.79% | 5.70% | 5.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 5.82% | 5.54% | 5.89% | 5.26% | 4.75% | 3.83% | 3.67% | 4.68% | 4.70% | 2.00% |
Drawdowns
GEMD vs. EBND - Drawdown Comparison
The maximum GEMD drawdown since its inception was -24.56%, smaller than the maximum EBND drawdown of -29.51%. Use the drawdown chart below to compare losses from any high point for GEMD and EBND.
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Drawdown Indicators
| GEMD | EBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.56% | -29.51% | +4.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -6.63% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.57% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.50% | — |
Current DrawdownCurrent decline from peak | -3.32% | -5.02% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -8.48% | -10.95% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.52% | -0.39% |
Volatility
GEMD vs. EBND - Volatility Comparison
The current volatility for Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) is 3.02%, while SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) has a volatility of 3.65%. This indicates that GEMD experiences smaller price fluctuations and is considered to be less risky than EBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEMD | EBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 3.65% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 4.84% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 7.17% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.08% | 8.90% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.08% | 9.18% | +0.90% |