GEMIX vs. MBB
GEMIX (Goldman Sachs Emerging Markets Equity Fund) and MBB (iShares MBS Bond ETF) are both funds - GEMIX is a Emerging Markets Diversified fund managed by Goldman Sachs, while MBB is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. MBS Index. Over the past 10 years, GEMIX returned 10.83%/yr vs 1.30%/yr for MBB. At a correlation of -0.05, they often move in opposite directions. GEMIX charges 1.00%/yr vs 0.06%/yr for MBB.
Performance
GEMIX vs. MBB - Performance Comparison
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Returns By Period
In the year-to-date period, GEMIX achieves a 32.84% return, which is significantly higher than MBB's 0.58% return. Over the past 10 years, GEMIX has outperformed MBB with an annualized return of 10.83%, while MBB has yielded a comparatively lower 1.30% annualized return.
GEMIX
- 1D
- 1.15%
- 1M
- 9.85%
- YTD
- 32.84%
- 6M
- 36.33%
- 1Y
- 63.53%
- 3Y*
- 25.51%
- 5Y*
- 5.64%
- 10Y*
- 10.83%
MBB
- 1D
- -0.23%
- 1M
- 0.31%
- YTD
- 0.58%
- 6M
- 0.71%
- 1Y
- 6.76%
- 3Y*
- 4.36%
- 5Y*
- 0.34%
- 10Y*
- 1.30%
GEMIX vs. MBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GEMIX Goldman Sachs Emerging Markets Equity Fund | 32.84% | 32.84% | 9.10% | 6.63% | -30.01% | -2.48% | 30.98% | 26.06% | -20.60% | 48.32% |
MBB iShares MBS Bond ETF | 0.58% | 8.38% | 1.31% | 5.01% | -11.74% | -1.43% | 4.08% | 6.18% | 0.82% | 2.49% |
Correlation
The correlation between GEMIX and MBB is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | -0.05 |
The correlation between GEMIX and MBB shifts across timeframes, from -0.05 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GEMIX vs. MBB — Risk / Return Rank
GEMIX
MBB
GEMIX vs. MBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Emerging Markets Equity Fund (GEMIX) and iShares MBS Bond ETF (MBB). 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.
| GEMIX | MBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.27 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 2.31 | +2.40 |
| Martin ratioReturn relative to average drawdown | 18.38 | 7.64 | +10.74 |
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
| GEMIX | MBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.29 | 1.51 | +1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.05 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.25 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.58 | -0.21 |
Drawdowns
GEMIX vs. MBB - Drawdown Comparison
The maximum GEMIX drawdown since its inception was -68.46%, which is greater than MBB's maximum drawdown of -17.64%. Use the drawdown chart below to compare losses from any high point for GEMIX and MBB.
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Drawdown Indicators
| GEMIX | MBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.46% | -17.64% | -50.82% |
Max Drawdown (1Y)Largest decline over 1 year | -13.65% | -2.94% | -10.71% |
Max Drawdown (3Y)Largest decline over 3 years | -18.46% | -7.68% | -10.78% |
Max Drawdown (5Y)Largest decline over 5 years | -44.71% | -17.19% | -27.52% |
Max Drawdown (10Y)Largest decline over 10 years | -47.24% | -17.64% | -29.60% |
Current DrawdownCurrent decline from peak | 0.00% | -1.52% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -19.70% | -2.35% | -17.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 0.89% | +2.59% |
Volatility
GEMIX vs. MBB - Volatility Comparison
Goldman Sachs Emerging Markets Equity Fund (GEMIX) has a higher volatility of 8.66% compared to iShares MBS Bond ETF (MBB) at 1.59%. This indicates that GEMIX's price experiences larger fluctuations and is considered to be riskier than MBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEMIX | MBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.66% | 1.59% | +7.07% |
Volatility (6M)Calculated over the trailing 6-month period | 16.84% | 3.23% | +13.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.49% | 4.51% | +14.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.68% | 6.81% | +10.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 5.31% | +12.79% |
GEMIX vs. MBB - Expense Ratio Comparison
GEMIX has a 1.00% expense ratio, which is higher than MBB's 0.06% expense ratio.
Dividends
GEMIX vs. MBB - Dividend Comparison
GEMIX's dividend yield for the trailing twelve months is around 0.58%, less than MBB's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEMIX Goldman Sachs Emerging Markets Equity Fund | 0.58% | 0.78% | 1.09% | 1.33% | 0.22% | 0.95% | 0.31% | 1.09% | 0.79% | 0.88% | 1.09% | 0.10% |
MBB iShares MBS Bond ETF | 4.28% | 4.21% | 3.94% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.64% | 2.23% | 2.58% | 2.66% |
Frequently Asked Questions
GEMIX and MBB have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GEMIX has higher volatility (8.66%) compared to MBB (1.59%). In terms of maximum drawdown, GEMIX dropped -68.46% vs MBB's -17.64%.
GEMIX currently has the higher Sharpe Ratio (3.29 vs 1.51), 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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