GSEE vs. ADVE

Last updated Jun 4, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and ADVE (Matthews Asia Dividend Active ETF) are both Asia Pacific Equities funds. GSEE is passively managed, while ADVE is actively managed. Over the past year, GSEE returned 54.30% vs 41.86% for ADVE. Their correlation of 0.88 suggests significant overlap in exposure. GSEE charges 0.36%/yr vs 0.79%/yr for ADVE.

Performance

GSEE vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSEE achieves a 27.44% return, which is significantly higher than ADVE's 21.50% return.

GSEE

• 1D: -1.36%
• 1M: 8.70%
• YTD: 27.44%
• 6M: 30.18%
• 1Y: 54.30%
• 3Y*: 23.60%
• 5Y*: 7.49%
• 10Y*: —

ADVE

• 1D: -0.63%
• 1M: 5.23%
• YTD: 21.50%
• 6M: 23.40%
• 1Y: 41.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSEE vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	27.44%	33.38%	4.94%	6.71%
ADVE Matthews Asia Dividend Active ETF	21.50%	26.12%	7.02%	5.13%

Correlation

The correlation between GSEE and ADVE is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023	0.88

The correlation between GSEE and ADVE has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

GSEE vs. ADVE - Sectors Allocation Comparison

Sectors	GSEE	ADVE
Technology	36.0%	29.0%
Financial Services	18.8%	27.3%
Consumer Cyclical	9.7%	6.9%
Industrials	9.0%	13.6%
Communication Services	6.6%	9.5%
Basic Materials	6.3%	3.4%
Energy	4.0%	1.2%
Healthcare	3.1%	1.1%
Consumer Defensive	3.0%	2.9%
Utilities	2.3%	1.1%
Real Estate	1.2%	4.0%

Return for Risk

GSEE vs. ADVE — Risk / Return Rank

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

GSEE

GSEE Risk / Return Rank: 82
GSEE Sharpe Ratio Rank: 84
GSEE Sortino Ratio Rank: 81
GSEE Omega Ratio Rank: 83
GSEE Calmar Ratio Rank: 80
GSEE Martin Ratio Rank: 81

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 77
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 79
ADVE Calmar Ratio Rank: 72
ADVE Martin Ratio Rank: 75

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.

GSEE vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and Matthews Asia Dividend Active ETF (ADVE). 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.

	GSEE	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.49	+0.30
Sortino ratio: Return per unit of downside risk	3.63	3.47	+0.16
Omega ratio: Gain probability vs. loss probability	1.50	1.47	+0.03
Calmar ratio: Return relative to maximum drawdown	4.18	3.59	+0.60
Martin ratio: Return relative to average drawdown	16.02	14.23	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSEE vs. ADVE - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 2.80, which is comparable to the ADVE Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of GSEE and ADVE, 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

	GSEE	ADVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	2.49	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.44	-0.67

Drawdowns

GSEE vs. ADVE - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for GSEE and ADVE.

Drawdown Indicators

	GSEE	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-18.41%	-19.10%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-11.73%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-17.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.97%	—	—
Current Drawdown Current decline from peak	-1.36%	-0.63%	-0.73%
Average Drawdown Average peak-to-trough decline	-14.73%	-3.15%	-11.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.95%	+0.45%

Volatility

GSEE vs. ADVE - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) has a higher volatility of 8.68% compared to Matthews Asia Dividend Active ETF (ADVE) at 5.98%. This indicates that GSEE's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEE	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.68%	5.98%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	16.80%	14.42%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	16.89%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.24%	15.68%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	15.68%	+2.71%

GSEE vs. ADVE - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

GSEE vs. ADVE - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 1.98%, less than ADVE's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ADVE Matthews Asia Dividend Active ETF	2.46%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	1.98%	2.53%	2.79%	3.07%	3.05%	6.10%	2.41%

Frequently Asked Questions

Can I hold both GSEE and ADVE in my portfolio?

GSEE and ADVE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEE or ADVE?

GSEE has higher volatility (8.68%) compared to ADVE (5.98%). In terms of maximum drawdown, GSEE dropped -37.51% vs ADVE's -18.41%.

Which ETF is better, GSEE or ADVE?

On 1-year performance, GSEE leads with 54.30% vs 41.86% for ADVE. On fees, GSEE is cheaper at 0.36% per year. On volatility, ADVE has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEE or ADVE?

Over the 1-year period, GSEE has performed better with a 54.30% return vs 41.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEE or ADVE?

GSEE is cheaper with a 0.36% expense ratio, compared with 0.79% for ADVE.

Which ETF pays a higher dividend yield, GSEE or ADVE?

ADVE has the higher dividend yield at 2.46%, compared with 1.98% for GSEE.

What is the main difference between GSEE and ADVE?

They also come from different issuers: Goldman Sachs and Matthews. Their fees differ too: 0.36% for GSEE and 0.79% for ADVE.

Which has better risk-adjusted returns?

GSEE currently has the higher Sharpe Ratio (2.80 vs 2.49), 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.