GEMD vs. EMCB
GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. GEMD is passively managed, while EMCB is actively managed. Over the past 3 years, GEMD returned 8.42%/yr vs 7.85%/yr for EMCB. A 0.53 correlation means they provide meaningful diversification when combined. GEMD charges 0.39%/yr vs 0.60%/yr for EMCB.
Performance
GEMD vs. EMCB - Performance Comparison
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Returns By Period
In the year-to-date period, GEMD achieves a 2.01% return, which is significantly higher than EMCB's 1.87% return.
GEMD
- 1D
- 0.37%
- 1M
- 1.24%
- YTD
- 2.01%
- 6M
- 2.04%
- 1Y
- 11.11%
- 3Y*
- 8.42%
- 5Y*
- —
- 10Y*
- —
EMCB
- 1D
- -0.16%
- 1M
- 0.25%
- YTD
- 1.87%
- 6M
- 1.80%
- 1Y
- 7.30%
- 3Y*
- 7.85%
- 5Y*
- 2.14%
- 10Y*
- 4.18%
GEMD vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 2.01% | 13.67% | 3.31% | 8.51% | -15.70% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 1.87% | 8.19% | 7.11% | 8.76% | -9.33% |
Correlation
The correlation between GEMD and EMCB is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.53 |
The correlation between GEMD and EMCB shifts across timeframes, from 0.36 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GEMD vs. EMCB — Risk / Return Rank
GEMD
EMCB
GEMD vs. EMCB - 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 WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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 | EMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.39 | +0.01 |
| Martin ratioReturn relative to average drawdown | 10.14 | 8.45 | +1.68 |
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 | EMCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 1.78 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.31 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.46 | -0.24 |
Drawdowns
GEMD vs. EMCB - Drawdown Comparison
The maximum GEMD drawdown since its inception was -24.56%, which is greater than EMCB's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for GEMD and EMCB.
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Drawdown Indicators
| GEMD | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.56% | -22.81% | -1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -3.07% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -4.20% | -3.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.81% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.80% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -8.18% | -4.23% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.87% | +0.23% |
Volatility
GEMD vs. EMCB - Volatility Comparison
Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) has a higher volatility of 1.85% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.56%. This indicates that GEMD's price experiences larger fluctuations and is considered to be riskier than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEMD | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.56% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 4.39% | 2.89% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.52% | 4.14% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 6.94% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.95% | 8.48% | +1.47% |
GEMD vs. EMCB - Expense Ratio Comparison
GEMD has a 0.39% expense ratio, which is lower than EMCB's 0.60% expense ratio.
Dividends
GEMD vs. EMCB - Dividend Comparison
GEMD's dividend yield for the trailing twelve months is around 5.67%, more than EMCB's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.36% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 5.67% | 6.32% | 5.79% | 5.70% | 5.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GEMD and EMCB have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GEMD has higher volatility (1.85%) compared to EMCB (1.56%). In terms of maximum drawdown, GEMD dropped -24.56% vs EMCB's -22.81%.
On 3-year performance, GEMD leads with 8.42% vs 7.85% for EMCB. On fees, GEMD is cheaper at 0.39% per year. On volatility, EMCB has been the lower-risk option at 1.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GEMD has performed better with a 8.42% return vs 7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GEMD is cheaper with a 0.39% expense ratio, compared with 0.60% for EMCB.
GEMD has the higher dividend yield at 5.67%, compared with 5.36% for EMCB.
They also come from different issuers: Goldman Sachs and WisdomTree. Their fees differ too: 0.39% for GEMD and 0.60% for EMCB.
GEMD currently has the higher Sharpe Ratio (2.02 vs 1.78), 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.
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