GSIE vs. GEMD
GSIE (Goldman Sachs ActiveBeta International Equity ETF) and GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) are both exchange-traded funds - GSIE is a Foreign Large Cap Equities fund tracking the Goldman Sachs ActiveBeta International Equity Index, while GEMD is a Emerging Markets Bonds fund tracking the FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, GSIE returned 16.74%/yr vs 8.37%/yr for GEMD. A 0.57 correlation means they provide meaningful diversification when combined. GSIE charges 0.25%/yr vs 0.39%/yr for GEMD.
Performance
GSIE vs. GEMD - Performance Comparison
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Returns By Period
In the year-to-date period, GSIE achieves a 6.51% return, which is significantly higher than GEMD's 1.64% return.
GSIE
- 1D
- -0.83%
- 1M
- 2.22%
- YTD
- 6.51%
- 6M
- 9.50%
- 1Y
- 19.35%
- 3Y*
- 16.74%
- 5Y*
- 8.04%
- 10Y*
- 9.08%
GEMD
- 1D
- -0.41%
- 1M
- 1.17%
- YTD
- 1.64%
- 6M
- 1.49%
- 1Y
- 11.06%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
GSIE vs. GEMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSIE Goldman Sachs ActiveBeta International Equity ETF | 6.51% | 32.53% | 5.23% | 16.99% | -11.81% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 1.64% | 13.67% | 3.31% | 8.51% | -15.70% |
Correlation
The correlation between GSIE and GEMD is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.57 |
The correlation between GSIE and GEMD has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.
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Return for Risk
GSIE vs. GEMD — Risk / Return Rank
GSIE
GEMD
GSIE vs. GEMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta International Equity ETF (GSIE) and Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD). 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.
| GSIE | GEMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.39 | -0.59 |
| Martin ratioReturn relative to average drawdown | 6.87 | 10.09 | -3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSIE | GEMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 2.01 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.21 | +0.31 |
Drawdowns
GSIE vs. GEMD - Drawdown Comparison
The maximum GSIE drawdown since its inception was -34.63%, which is greater than GEMD's maximum drawdown of -24.56%. Use the drawdown chart below to compare losses from any high point for GSIE and GEMD.
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Drawdown Indicators
| GSIE | GEMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.63% | -24.56% | -10.07% |
Max Drawdown (1Y)Largest decline over 1 year | -10.76% | -4.64% | -6.12% |
Max Drawdown (3Y)Largest decline over 3 years | -13.07% | -7.69% | -5.38% |
Max Drawdown (5Y)Largest decline over 5 years | -29.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -34.63% | — | — |
Current DrawdownCurrent decline from peak | -2.19% | -0.43% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -8.19% | +2.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 1.10% | +1.72% |
Volatility
GSIE vs. GEMD - Volatility Comparison
Goldman Sachs ActiveBeta International Equity ETF (GSIE) has a higher volatility of 4.38% compared to Goldman Sachs Access Emerging Markets USD Bond ETF (GEMD) at 1.84%. This indicates that GSIE's price experiences larger fluctuations and is considered to be riskier than GEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSIE | GEMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 1.84% | +2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 11.60% | 4.40% | +7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.15% | 5.53% | +8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.04% | 9.95% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.75% | 9.95% | +6.80% |
GSIE vs. GEMD - Expense Ratio Comparison
GSIE has a 0.25% expense ratio, which is lower than GEMD's 0.39% expense ratio.
Dividends
GSIE vs. GEMD - Dividend Comparison
GSIE's dividend yield for the trailing twelve months is around 2.52%, less than GEMD's 5.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 5.69% | 6.32% | 5.79% | 5.70% | 5.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSIE Goldman Sachs ActiveBeta International Equity ETF | 2.52% | 2.65% | 3.11% | 2.87% | 3.01% | 2.40% | 1.60% | 2.80% | 2.68% | 2.31% | 2.15% | 0.13% |
Frequently Asked Questions
GSIE and GEMD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSIE has higher volatility (4.38%) compared to GEMD (1.84%). In terms of maximum drawdown, GSIE dropped -34.63% vs GEMD's -24.56%.
On 3-year performance, GSIE leads with 16.74% vs 8.37% for GEMD. On fees, GSIE is cheaper at 0.25% per year. On volatility, GEMD has been the lower-risk option at 1.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSIE has performed better with a 16.74% return vs 8.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSIE is cheaper with a 0.25% expense ratio, compared with 0.39% for GEMD.
GEMD has the higher dividend yield at 5.69%, compared with 2.52% for GSIE.
GSIE is categorized as Foreign Large Cap Equities, while GEMD is Emerging Markets Bonds. GSIE tracks Goldman Sachs ActiveBeta International Equity Index, while GEMD tracks FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. Their fees differ too: 0.25% for GSIE and 0.39% for GEMD.
GEMD currently has the higher Sharpe Ratio (2.01 vs 1.38), 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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