GEMD vs. GCOR
GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) and GCOR (Goldman Sachs Access U.S. Aggregate Bond ETF) are both exchange-traded funds - GEMD is a Emerging Markets Bonds fund tracking the FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net, while GCOR is a Intermediate Core Bond fund tracking the FTSE Goldman Sachs US Broad Bond Market Index. Both are passively managed. Over the past 3 years, GEMD returned 8.37%/yr vs 3.71%/yr for GCOR. A 0.71 correlation means they provide meaningful diversification when combined. GEMD charges 0.39%/yr vs 0.08%/yr for GCOR.
Performance
GEMD vs. GCOR - Performance Comparison
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Returns By Period
In the year-to-date period, GEMD achieves a 1.64% return, which is significantly higher than GCOR's 0.16% return.
GEMD
- 1D
- -0.41%
- 1M
- 1.17%
- YTD
- 1.64%
- 6M
- 1.49%
- 1Y
- 11.06%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
GCOR
- 1D
- -0.23%
- 1M
- 0.17%
- YTD
- 0.16%
- 6M
- 0.01%
- 1Y
- 4.97%
- 3Y*
- 3.71%
- 5Y*
- -0.24%
- 10Y*
- —
GEMD vs. GCOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 1.64% | 13.67% | 3.31% | 8.51% | -15.70% |
GCOR Goldman Sachs Access U.S. Aggregate Bond ETF | 0.16% | 7.22% | 0.51% | 5.79% | -10.27% |
Correlation
The correlation between GEMD and GCOR is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.72 |
The correlation between GEMD and GCOR has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
GEMD vs. GCOR — Risk / Return Rank
GEMD
GCOR
GEMD vs. GCOR - 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 Goldman Sachs Access U.S. Aggregate Bond ETF (GCOR). 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 | GCOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.77 | +0.62 |
| Martin ratioReturn relative to average drawdown | 10.09 | 5.42 | +4.66 |
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 | GCOR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 1.37 | +0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.10 | +0.31 |
Drawdowns
GEMD vs. GCOR - Drawdown Comparison
The maximum GEMD drawdown since its inception was -24.56%, which is greater than GCOR's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for GEMD and GCOR.
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Drawdown Indicators
| GEMD | GCOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.56% | -18.94% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.64% | -2.82% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -7.69% | -6.09% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.63% | — |
Current DrawdownCurrent decline from peak | -0.43% | -3.52% | +3.09% |
Average DrawdownAverage peak-to-trough decline | -8.19% | -7.99% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 0.92% | +0.18% |
Volatility
GEMD vs. GCOR - Volatility Comparison
Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) has a higher volatility of 1.84% compared to Goldman Sachs Access U.S. Aggregate Bond ETF (GCOR) at 1.27%. This indicates that GEMD's price experiences larger fluctuations and is considered to be riskier than GCOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEMD | GCOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 1.27% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 2.65% | +1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.53% | 3.65% | +1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.95% | 5.81% | +4.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.95% | 5.52% | +4.43% |
GEMD vs. GCOR - Expense Ratio Comparison
GEMD has a 0.39% expense ratio, which is higher than GCOR's 0.08% expense ratio.
Dividends
GEMD vs. GCOR - Dividend Comparison
GEMD's dividend yield for the trailing twelve months is around 5.69%, more than GCOR's 4.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GCOR Goldman Sachs Access U.S. Aggregate Bond ETF | 4.17% | 4.03% | 4.36% | 3.67% | 2.11% | 0.92% | 0.24% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 5.69% | 6.32% | 5.79% | 5.70% | 5.42% | 0.00% | 0.00% |
Frequently Asked Questions
GEMD and GCOR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GEMD has higher volatility (1.84%) compared to GCOR (1.27%). In terms of maximum drawdown, GEMD dropped -24.56% vs GCOR's -18.94%.
On 3-year performance, GEMD leads with 8.37% vs 3.71% for GCOR. On fees, GCOR is cheaper at 0.08% per year. On volatility, GCOR has been the lower-risk option at 1.27%. 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 8.37% return vs 3.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GCOR is cheaper with a 0.08% expense ratio, compared with 0.39% for GEMD.
GEMD has the higher dividend yield at 5.69%, compared with 4.17% for GCOR.
GEMD is categorized as Emerging Markets Bonds, while GCOR is Intermediate Core Bond. GEMD tracks FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net, while GCOR tracks FTSE Goldman Sachs US Broad Bond Market Index. Their fees differ too: 0.39% for GEMD and 0.08% for GCOR.
GEMD currently has the higher Sharpe Ratio (2.01 vs 1.37), 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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