GSEE vs. ROAM

Last updated Jul 17, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and ROAM (Hartford Multifactor Emerging Markets ETF) are both Emerging Markets Equities funds - GSEE tracks the Solactive GBS Emerging Markets Large & Mid Cap Index while ROAM tracks the Hartford Multifactor Emerging Markets Equity Index. Both are passively managed. Over the past 5 years, GSEE returned 6.60%/yr vs 11.34%/yr for ROAM. Their correlation of 0.91 suggests significant overlap in exposure. GSEE charges 0.36%/yr vs 0.44%/yr for ROAM.

Performance

GSEE vs. ROAM - Performance Comparison

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

Returns By Period

In the year-to-date period, GSEE achieves a 17.53% return, which is significantly lower than ROAM's 19.49% return.

GSEE

• 1D: -2.02%
• 1M: -6.86%
• 6M: 10.76%
• YTD: 17.53%
• 1Y: 32.41%
• 3Y*: 18.49%
• 5Y*: 6.60%
• 10Y*: —

ROAM

• 1D: -0.95%
• 1M: -5.64%
• 6M: 13.58%
• YTD: 19.49%
• 1Y: 34.03%
• 3Y*: 21.01%
• 5Y*: 11.34%
• 10Y*: 8.60%

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

GSEE vs. ROAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	17.53%	33.38%	4.94%	11.03%	-19.57%	-2.61%	43.54%
ROAM Hartford Multifactor Emerging Markets ETF	19.49%	32.08%	6.21%	21.28%	-14.78%	9.32%	32.61%

Correlation

The correlation between GSEE and ROAM is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 15, 2020	0.91

The correlation between GSEE and ROAM has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

GSEE vs. ROAM - Sectors Allocation Comparison

Sectors	GSEE	ROAM
Technology	43.0%	41.7%
Financial Services	17.1%	19.5%
Consumer Cyclical	8.7%	5.9%
Industrials	8.0%	6.1%
Communication Services	5.8%	6.2%
Basic Materials	5.6%	3.6%
Energy	3.4%	4.2%
Healthcare	2.8%	3.2%
Consumer Defensive	2.5%	4.6%
Utilities	2.1%	2.5%
Real Estate	1.1%	1.4%

Return for Risk

GSEE vs. ROAM — Risk / Return Rank

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

GSEE

GSEE Risk / Return Rank: 54
GSEE Sharpe Ratio Rank: 51
GSEE Sortino Ratio Rank: 47
GSEE Omega Ratio Rank: 53
GSEE Calmar Ratio Rank: 62
GSEE Martin Ratio Rank: 59

ROAM

ROAM Risk / Return Rank: 77
ROAM Sharpe Ratio Rank: 79
ROAM Sortino Ratio Rank: 72
ROAM Omega Ratio Rank: 78
ROAM Calmar Ratio Rank: 82
ROAM Martin Ratio Rank: 76

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. ROAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and Hartford Multifactor Emerging Markets ETF (ROAM). 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.

	GSEE	ROAM	Difference
Sharpe ratio: Return per unit of total volatility	1.41	2.00	-0.59
Sortino ratio: Return per unit of downside risk	1.93	2.60	-0.67
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	2.49	3.45	-0.95
Martin ratio: Return relative to average drawdown	8.19	10.95	-2.77

GSEE vs. ROAM - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 1.41, which is comparable to the ROAM Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of GSEE and ROAM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSEE vs. ROAM - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, smaller than the maximum ROAM drawdown of -45.47%. Use the drawdown chart below to compare losses from any high point for GSEE and ROAM.

Drawdown Indicators

	GSEE	ROAM	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-45.47%	+7.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-9.92%	-3.13%
Max Drawdown (3Y) Largest decline over 3 years	-17.39%	-16.79%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-32.36%	-27.07%	-5.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.47%	—
Current Drawdown Current decline from peak	-9.79%	-7.49%	-2.30%
Average Drawdown Average peak-to-trough decline	-14.55%	-11.06%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	3.11%	+0.86%

Volatility

GSEE vs. ROAM - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) has a higher volatility of 9.87% compared to Hartford Multifactor Emerging Markets ETF (ROAM) at 6.31%. This indicates that GSEE's price experiences larger fluctuations and is considered to be riskier than ROAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEE	ROAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.87%	6.31%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	20.95%	15.46%	+5.49%
Volatility (1Y) Calculated over the trailing 1-year period	23.10%	17.09%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	15.69%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	17.90%	+1.05%

GSEE vs. ROAM - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is lower than ROAM's 0.44% expense ratio.

Dividends

GSEE vs. ROAM - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 2.15%, less than ROAM's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	2.15%	2.53%	2.79%	3.07%	3.05%	6.10%	2.41%	0.00%	0.00%	0.00%	0.00%	0.00%
ROAM Hartford Multifactor Emerging Markets ETF	2.45%	3.17%	4.15%	5.40%	5.23%	4.22%	3.04%	3.55%	2.54%	1.84%	1.89%	2.25%

Frequently Asked Questions

Can I hold both GSEE and ROAM in my portfolio?

GSEE and ROAM have a correlation of 0.89, 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 ROAM?

GSEE has higher volatility (9.87%) compared to ROAM (6.31%). In terms of maximum drawdown, GSEE dropped -37.51% vs ROAM's -45.47%.

Which ETF is better, GSEE or ROAM?

On 5-year performance, ROAM leads with 11.34% vs 6.60% for GSEE. On fees, GSEE is cheaper at 0.36% per year. On volatility, ROAM has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEE or ROAM?

Over the 5-year period, ROAM has performed better with a 11.34% return vs 6.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEE or ROAM?

GSEE is cheaper with a 0.36% expense ratio, compared with 0.44% for ROAM.

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

ROAM has the higher dividend yield at 2.45%, compared with 2.15% for GSEE.

What is the main difference between GSEE and ROAM?

GSEE tracks Solactive GBS Emerging Markets Large & Mid Cap Index, while ROAM tracks Hartford Multifactor Emerging Markets Equity Index. They also come from different issuers: Goldman Sachs and Hartford. Their fees differ too: 0.36% for GSEE and 0.44% for ROAM.

Which has better risk-adjusted returns?

ROAM currently has the higher Sharpe Ratio (2.00 vs 1.41), 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.