GSEE vs. EEMA

Last updated Jun 4, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and EEMA (iShares MSCI Emerging Markets Asia ETF) are both Asia Pacific Equities funds - GSEE tracks the Solactive GBS Emerging Markets Large & Mid Cap Index while EEMA tracks the MSCI Emerging Markets Asia Index. Both are passively managed. Over the past 5 years, GSEE returned 7.49%/yr vs 7.05%/yr for EEMA. With a 0.95 correlation, they move nearly in lockstep. GSEE charges 0.36%/yr vs 0.50%/yr for EEMA.

Performance

GSEE vs. EEMA - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with GSEE having a 27.44% return and EEMA slightly higher at 27.78%.

GSEE

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

EEMA

• 1D: -1.17%
• 1M: 9.00%
• YTD: 27.78%
• 6M: 30.96%
• 1Y: 56.77%
• 3Y*: 24.08%
• 5Y*: 7.05%
• 10Y*: 10.80%

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

GSEE vs. EEMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	27.44%	33.38%	4.94%	11.03%	-19.57%	-2.61%	43.54%
EEMA iShares MSCI Emerging Markets Asia ETF	27.78%	33.27%	10.23%	6.57%	-21.49%	-4.22%	46.06%

Correlation

The correlation between GSEE and EEMA is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 18, 2020	0.95

The correlation between GSEE and EEMA has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

GSEE vs. EEMA - Sectors Allocation Comparison

Sectors	GSEE	EEMA
Technology	36.0%	41.2%
Financial Services	18.8%	15.9%
Consumer Cyclical	9.7%	11.3%
Industrials	9.0%	8.8%
Communication Services	6.6%	6.0%
Basic Materials	6.3%	4.5%
Energy	4.0%	3.2%
Healthcare	3.1%	3.7%
Consumer Defensive	3.0%	2.8%
Utilities	2.3%	1.8%
Real Estate	1.2%	0.8%

Return for Risk

GSEE vs. EEMA — 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

EEMA

EEMA Risk / Return Rank: 81
EEMA Sharpe Ratio Rank: 84
EEMA Sortino Ratio Rank: 81
EEMA Omega Ratio Rank: 82
EEMA Calmar Ratio Rank: 78
EEMA Martin Ratio Rank: 77

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. EEMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and iShares MSCI Emerging Markets Asia ETF (EEMA). 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	EEMA	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.80	0.00
Sortino ratio: Return per unit of downside risk	3.63	3.64	-0.01
Omega ratio: Gain probability vs. loss probability	1.50	1.50	0.00
Calmar ratio: Return relative to maximum drawdown	4.18	3.99	+0.19
Martin ratio: Return relative to average drawdown	16.02	15.03	+0.99
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. EEMA - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 2.80, which is comparable to the EEMA Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of GSEE and EEMA, 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	EEMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	2.80	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.35	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.37	+0.40

Drawdowns

GSEE vs. EEMA - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, smaller than the maximum EEMA drawdown of -44.18%. Use the drawdown chart below to compare losses from any high point for GSEE and EEMA.

Drawdown Indicators

	GSEE	EEMA	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-44.18%	+6.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-14.30%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.39%	-20.23%	+2.84%
Max Drawdown (5Y) Largest decline over 5 years	-34.97%	-40.67%	+5.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.18%	—
Current Drawdown Current decline from peak	-1.36%	-1.17%	-0.19%
Average Drawdown Average peak-to-trough decline	-14.73%	-13.97%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	3.79%	-0.39%

Volatility

GSEE vs. EEMA - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and iShares MSCI Emerging Markets Asia ETF (EEMA) have volatilities of 8.68% and 8.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEE	EEMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.68%	8.53%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	16.80%	17.40%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	20.39%	-0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.24%	20.41%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	20.87%	-2.48%

GSEE vs. EEMA - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is lower than EEMA's 0.50% expense ratio.

Dividends

GSEE vs. EEMA - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 1.98%, more than EEMA's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMA iShares MSCI Emerging Markets Asia ETF	1.16%	1.48%	1.74%	2.02%	1.78%	2.19%	1.15%	1.86%	2.17%	1.74%	1.74%	2.44%
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	1.98%	2.53%	2.79%	3.07%	3.05%	6.10%	2.41%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSEE and EEMA in my portfolio?

With a correlation of 0.96, GSEE and EEMA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSEE or EEMA?

GSEE has higher volatility (8.68%) compared to EEMA (8.53%). In terms of maximum drawdown, GSEE dropped -37.51% vs EEMA's -44.18%.

Which ETF is better, GSEE or EEMA?

On 5-year performance, GSEE leads with 7.49% vs 7.05% for EEMA. On fees, GSEE is cheaper at 0.36% per year. On volatility, EEMA has been the lower-risk option at 8.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEE or EEMA?

Over the 5-year period, GSEE has performed better with a 7.49% return vs 7.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEE or EEMA?

GSEE is cheaper with a 0.36% expense ratio, compared with 0.50% for EEMA.

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

GSEE has the higher dividend yield at 1.98%, compared with 1.16% for EEMA.

What is the main difference between GSEE and EEMA?

GSEE tracks Solactive GBS Emerging Markets Large & Mid Cap Index, while EEMA tracks MSCI Emerging Markets Asia Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.36% for GSEE and 0.50% for EEMA.

Which has better risk-adjusted returns?

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