GSEE vs. TDEC

Last updated Jul 14, 2026

GSEE (Goldman Sachs MarketBeta Emerging Markets Equity ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - GSEE is a Emerging Markets Equities fund tracking the Solactive GBS Emerging Markets Large & Mid Cap Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, GSEE returned 35.14% vs 16.81% for TDEC. Their correlation of 0.92 suggests significant overlap in exposure. GSEE charges 0.36%/yr vs 0.95%/yr for TDEC.

Performance

GSEE vs. TDEC - Performance Comparison

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

Returns By Period

In the year-to-date period, GSEE achieves a 18.29% return, which is significantly higher than TDEC's 7.07% return.

GSEE

• 1D: -3.50%
• 1M: -4.03%
• 6M: 11.63%
• YTD: 18.29%
• 1Y: 35.14%
• 3Y*: 18.81%
• 5Y*: 6.59%
• 10Y*: —

TDEC

• 1D: -1.31%
• 1M: -1.03%
• 6M: 3.56%
• YTD: 7.07%
• 1Y: 16.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSEE vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	18.29%	33.38%	-1.80%
TDEC FT Vest Emerging Markets Buffer ETF - December	7.07%	21.39%	-0.75%

Correlation

The correlation between GSEE and TDEC is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.92

The correlation between GSEE and TDEC has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

GSEE vs. TDEC — Risk / Return Rank

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

GSEE

GSEE Risk / Return Rank: 61
GSEE Sharpe Ratio Rank: 58
GSEE Sortino Ratio Rank: 53
GSEE Omega Ratio Rank: 60
GSEE Calmar Ratio Rank: 68
GSEE Martin Ratio Rank: 65

TDEC

TDEC Risk / Return Rank: 60
TDEC Sharpe Ratio Rank: 59
TDEC Sortino Ratio Rank: 57
TDEC Omega Ratio Rank: 73
TDEC Calmar Ratio Rank: 52
TDEC Martin Ratio Rank: 62

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. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.57	-0.03
Sortino ratio: Return per unit of downside risk	2.07	2.16	-0.09
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	2.70	2.07	+0.63
Martin ratio: Return relative to average drawdown	9.14	8.73	+0.41

GSEE vs. TDEC - Sharpe Ratio Comparison

The current GSEE Sharpe Ratio is 1.54, which is comparable to the TDEC Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of GSEE and TDEC, 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. TDEC - Drawdown Comparison

The maximum GSEE drawdown since its inception was -37.51%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for GSEE and TDEC.

Drawdown Indicators

	GSEE	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-10.30%	-27.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-8.16%	-4.89%
Max Drawdown (3Y) Largest decline over 3 years	-17.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.96%	—	—
Current Drawdown Current decline from peak	-9.20%	-2.67%	-6.53%
Average Drawdown Average peak-to-trough decline	-14.56%	-1.07%	-13.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	1.93%	+1.93%

Volatility

GSEE vs. TDEC - Volatility Comparison

Goldman Sachs MarketBeta Emerging Markets Equity ETF (GSEE) has a higher volatility of 11.10% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 4.06%. This indicates that GSEE's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEE	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.10%	4.06%	+7.04%
Volatility (6M) Calculated over the trailing 6-month period	20.86%	10.09%	+10.77%
Volatility (1Y) Calculated over the trailing 1-year period	23.01%	10.79%	+12.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.03%	11.98%	+7.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	11.98%	+6.96%

GSEE vs. TDEC - Expense Ratio Comparison

GSEE has a 0.36% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

GSEE vs. TDEC - Dividend Comparison

GSEE's dividend yield for the trailing twelve months is around 2.14%, while TDEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF	2.14%	2.53%	2.79%	3.07%	3.05%	6.10%	2.41%
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSEE and TDEC in my portfolio?

With a correlation of 0.91, GSEE and TDEC 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 TDEC?

GSEE has higher volatility (11.10%) compared to TDEC (4.06%). In terms of maximum drawdown, GSEE dropped -37.51% vs TDEC's -10.30%.

Which ETF is better, GSEE or TDEC?

On 1-year performance, GSEE leads with 35.14% vs 16.81% for TDEC. On fees, GSEE is cheaper at 0.36% per year. On volatility, TDEC has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEE or TDEC?

Over the 1-year period, GSEE has performed better with a 35.14% return vs 16.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEE or TDEC?

GSEE is cheaper with a 0.36% expense ratio, compared with 0.95% for TDEC.

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

GSEE has the higher dividend yield at 2.14%, compared with 0.00% for TDEC.

What is the main difference between GSEE and TDEC?

GSEE is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. GSEE tracks Solactive GBS Emerging Markets Large & Mid Cap Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: Goldman Sachs and FT Vest. Their fees differ too: 0.36% for GSEE and 0.95% for TDEC.

Which has better risk-adjusted returns?

TDEC currently has the higher Sharpe Ratio (1.57 vs 1.54), 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.