GEMD vs. VEMY

Last updated Jun 4, 2026

GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both Emerging Markets Bonds funds. GEMD is passively managed, while VEMY is actively managed. Over the past 3 years, GEMD returned 8.37%/yr vs 15.75%/yr for VEMY. Their correlation of 0.81 suggests significant overlap in exposure. GEMD charges 0.39%/yr vs 0.58%/yr for VEMY.

Performance

GEMD vs. VEMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GEMD achieves a 1.64% return, which is significantly lower than VEMY's 5.89% return.

GEMD

• 1D: -0.41%
• 1M: 1.17%
• YTD: 1.64%
• 6M: 1.49%
• 1Y: 11.06%
• 3Y*: 8.37%
• 5Y*: —
• 10Y*: —

VEMY

• 1D: -0.17%
• 1M: 1.68%
• YTD: 5.89%
• 6M: 6.65%
• 1Y: 18.61%
• 3Y*: 15.75%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GEMD vs. VEMY - 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%	-2.65%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	5.89%	15.27%	13.48%	14.45%	-1.08%

Correlation

The correlation between GEMD and VEMY is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.82

The correlation between GEMD and VEMY has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

Return for Risk

GEMD vs. VEMY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GEMD

GEMD Risk / Return Rank: 59
GEMD Sharpe Ratio Rank: 60
GEMD Sortino Ratio Rank: 64
GEMD Omega Ratio Rank: 64
GEMD Calmar Ratio Rank: 49
GEMD Martin Ratio Rank: 58

VEMY

VEMY Risk / Return Rank: 90
VEMY Sharpe Ratio Rank: 89
VEMY Sortino Ratio Rank: 93
VEMY Omega Ratio Rank: 92
VEMY Calmar Ratio Rank: 85
VEMY Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GEMD vs. VEMY - 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 Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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	VEMY	Difference
Sharpe ratio: Return per unit of total volatility	2.01	3.09	-1.08
Sortino ratio: Return per unit of downside risk	2.95	4.75	-1.80
Omega ratio: Gain probability vs. loss probability	1.38	1.63	-0.25
Calmar ratio: Return relative to maximum drawdown	2.39	4.67	-2.27
Martin ratio: Return relative to average drawdown	10.09	22.18	-12.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GEMD vs. VEMY - Sharpe Ratio Comparison

The current GEMD Sharpe Ratio is 2.01, which is lower than the VEMY Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of GEMD and VEMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GEMD	VEMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	3.09	-1.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.83	-1.62

Drawdowns

GEMD vs. VEMY - Drawdown Comparison

The maximum GEMD drawdown since its inception was -24.56%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for GEMD and VEMY.

Drawdown Indicators

	GEMD	VEMY	Difference
Max Drawdown Largest peak-to-trough decline	-24.56%	-8.77%	-15.79%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-4.00%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-7.69%	-6.57%	-1.12%
Current Drawdown Current decline from peak	-0.43%	-0.17%	-0.26%
Average Drawdown Average peak-to-trough decline	-8.19%	-1.30%	-6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.84%	+0.26%

Volatility

GEMD vs. VEMY - Volatility Comparison

Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) has a higher volatility of 1.84% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.60%. This indicates that GEMD's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GEMD	VEMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	1.60%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	4.40%	4.65%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	5.53%	6.05%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.95%	7.63%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.95%	7.63%	+2.32%

GEMD vs. VEMY - Expense Ratio Comparison

GEMD has a 0.39% expense ratio, which is lower than VEMY's 0.58% expense ratio.

Dividends

GEMD vs. VEMY - Dividend Comparison

GEMD's dividend yield for the trailing twelve months is around 5.69%, less than VEMY's 8.38% yield.

Position	TTM	2025	2024	2023	2022
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF	5.69%	6.32%	5.79%	5.70%	5.42%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	8.38%	8.89%	10.28%	9.55%	0.00%

Frequently Asked Questions

Can I hold both GEMD and VEMY in my portfolio?

GEMD and VEMY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GEMD or VEMY?

GEMD has higher volatility (1.84%) compared to VEMY (1.60%). In terms of maximum drawdown, GEMD dropped -24.56% vs VEMY's -8.77%.

Which ETF is better, GEMD or VEMY?

On 3-year performance, VEMY leads with 15.75% vs 8.37% for GEMD. On fees, GEMD is cheaper at 0.39% per year. On volatility, VEMY has been the lower-risk option at 1.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GEMD or VEMY?

Over the 3-year period, VEMY has performed better with a 15.75% return vs 8.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GEMD or VEMY?

GEMD is cheaper with a 0.39% expense ratio, compared with 0.58% for VEMY.

Which ETF pays a higher dividend yield, GEMD or VEMY?

VEMY has the higher dividend yield at 8.38%, compared with 5.69% for GEMD.

What is the main difference between GEMD and VEMY?

They also come from different issuers: Goldman Sachs and Virtus. Their fees differ too: 0.39% for GEMD and 0.58% for VEMY.

Which has better risk-adjusted returns?

VEMY currently has the higher Sharpe Ratio (3.09 vs 2.01), 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.