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GSEE vs. EPP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GSEE vs. EPP

Last updated Jun 24, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and EPP (iShares MSCI Pacific ex Japan ETF) are both Asia Pacific Equities funds - GSEE tracks the Solactive GBS Emerging Markets Large & Mid Cap Index while EPP tracks the MSCI Pacific ex-Japan Index. Both are passively managed. Over the past 5 years, GSEE returned 7.00%/yr vs 4.60%/yr for EPP. A 0.78 correlation means they provide meaningful diversification when combined. GSEE charges 0.36%/yr vs 0.48%/yr for EPP.

Performance

GSEE vs. EPP - 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 Pacific ex Japan ETF (EPP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GSEE achieves a 23.34% return, which is significantly higher than EPP's 6.84% return.

GSEE

1D
-5.32%
1M
2.31%
YTD
23.34%
6M
23.87%
1Y
45.47%
3Y*
22.27%
5Y*
7.00%
10Y*
—

EPP

1D
-1.34%
1M
-1.93%
YTD
6.84%
6M
5.29%
1Y
13.95%
3Y*
12.66%
5Y*
4.60%
10Y*
7.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GSEE vs. EPP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
GSEE
Goldman Sachs MarketBeta Emerging Markets Equity ETF		23.34%33.38%4.94%11.03%-19.57%-2.61%43.54%
EPP
iShares MSCI Pacific ex Japan ETF		6.84%19.70%4.76%5.76%-6.59%4.26%37.18%

Correlation

The correlation between GSEE and EPP is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.77

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (All Time)
Calculated using the full available price history since May 15, 2020

0.78

The correlation between GSEE and EPP has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

GSEE vs. EPP - Sectors Allocation Comparison

Sectors
GSEE
EPP

Technology

43.0%
1.0%

Financial Services

17.1%
44.9%

Consumer Cyclical

8.7%
6.2%

Industrials

8.0%
8.5%

Communication Services

5.8%
2.6%

Basic Materials

5.6%
17.0%

Energy

3.4%
2.7%

Healthcare

2.8%
3.3%

Consumer Defensive

2.5%
2.9%

Utilities

2.1%
3.5%

Real Estate

1.1%
7.4%

Technology

GSEE
43.0%
EPP
1.0%

Financial Services

GSEE
17.1%
EPP
44.9%

Consumer Cyclical

GSEE
8.7%
EPP
6.2%

Industrials

GSEE
8.0%
EPP
8.5%

Communication Services

GSEE
5.8%
EPP
2.6%

Basic Materials

GSEE
5.6%
EPP
17.0%

Energy

GSEE
3.4%
EPP
2.7%

Healthcare

GSEE
2.8%
EPP
3.3%

Consumer Defensive

GSEE
2.5%
EPP
2.9%

Utilities

GSEE
2.1%
EPP
3.5%

Real Estate

GSEE
1.1%
EPP
7.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Goldman Sachs MarketBeta Emerging Markets Equity ETF

iShares MSCI Pacific ex Japan ETF

Often compared with GSEE:
GSEE vs. XCEMGSEE vs. DFCEXGSEE vs. BKEMGSEE vs. SPEMGSEE vs. EMMFGSEE vs. VOOGSEE vs. IDMO
Often compared with EPP:
EPP vs. EWTEPP vs. AAXJEPP vs. BBAXEPP vs. EWHEPP vs. AIAEPP vs. EWYEPP vs. VPL

Return for Risk

GSEE vs. EPP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GSEE
GSEE Risk / Return Rank: 6969
Overall Rank
GSEE Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
GSEE Sortino Ratio Rank: 6161
Sortino Ratio Rank
GSEE Omega Ratio Rank: 7070
Omega Ratio Rank
GSEE Calmar Ratio Rank: 7373
Calmar Ratio Rank
GSEE Martin Ratio Rank: 7373
Martin Ratio Rank
EPP
EPP Risk / Return Rank: 2929
Overall Rank
EPP Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 2626
Sortino Ratio Rank
EPP Omega Ratio Rank: 2626
Omega Ratio Rank
EPP Calmar Ratio Rank: 3434
Calmar Ratio Rank
EPP Martin Ratio Rank: 3434
Martin Ratio Rank
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. EPP - 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 Pacific ex Japan ETF (EPP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

GSEEEPPDifference
Sharpe ratioReturn per unit of total volatility
2.06
0.92

+1.14

Sortino ratioReturn per unit of downside risk
2.68
1.36

+1.32

Omega ratioGain probability vs. loss probability

1.39

1.17

+0.22

Calmar ratioReturn relative to maximum drawdown

3.50

1.59

+1.91

Martin ratioReturn relative to average drawdown

12.71

4.68

+8.03

GSEE vs. EPP - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 2.06, which is higher than the EPP Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of GSEE and EPP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

GSEE vs. EPP - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, smaller than the maximum EPP drawdown of -66.01%. Use the drawdown chart below to compare losses from any high point for GSEE and EPP.

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Drawdown Indicators

GSEEEPPDifference

Max Drawdown

Largest peak-to-trough decline

-37.51%

-66.01%

+28.50%

Max Drawdown (1Y)

Largest decline over 1 year

-13.05%

-8.79%

-4.26%

Max Drawdown (3Y)

Largest decline over 3 years

-17.39%

-19.29%

+1.90%

Max Drawdown (5Y)

Largest decline over 5 years

-34.89%

-24.79%

-10.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.30%

—

Current Drawdown

Current decline from peak

-5.32%

-5.22%

-0.10%

Average Drawdown

Average peak-to-trough decline

-14.63%

-10.61%

-4.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.59%

2.99%

+0.60%

Volatility

GSEE vs. EPP - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) has a higher volatility of 12.17% compared to iShares MSCI Pacific ex Japan ETF (EPP) at 5.38%. This indicates that GSEE's price experiences larger fluctuations and is considered to be riskier than EPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GSEEEPPDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.17%

5.38%

+6.79%

Volatility (6M)

Calculated over the trailing 6-month period

20.00%

12.79%

+7.21%

Volatility (1Y)

Calculated over the trailing 1-year period

22.20%

15.18%

+7.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.86%

17.52%

+1.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.83%

19.06%

-0.23%

GSEE vs. EPP - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is lower than EPP's 0.48% expense ratio.

Dividends

GSEE vs. EPP - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 2.05%, less than EPP's 3.52% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.52%3.77%3.81%4.10%4.37%4.58%2.28%3.89%5.00%4.15%3.96%4.90%
GSEE
Goldman Sachs MarketBeta Emerging Markets Equity ETF		2.05%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

GSEE and EPP have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSEE has higher volatility (12.17%) compared to EPP (5.38%). In terms of maximum drawdown, GSEE dropped -37.51% vs EPP's -66.01%.

On 5-year performance, GSEE leads with 7.00% vs 4.60% for EPP. On fees, GSEE is cheaper at 0.36% per year. On volatility, EPP has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, GSEE has performed better with a 7.00% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GSEE is cheaper with a 0.36% expense ratio, compared with 0.48% for EPP.

EPP has the higher dividend yield at 3.52%, compared with 2.05% for GSEE.

GSEE tracks Solactive GBS Emerging Markets Large & Mid Cap Index, while EPP tracks MSCI Pacific ex-Japan Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.36% for GSEE and 0.48% for EPP.

GSEE currently has the higher Sharpe Ratio (2.06 vs 0.92), 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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