NUEM vs. GEME

Last updated Jun 4, 2026

NUEM (Nuveen ESG Emerging Markets Equity ETF) and GEME (Pacific North of South Global Emerging Markets Equity Active ETF) are both Emerging Markets Equities funds. NUEM is passively managed, while GEME is actively managed. Over the past year, NUEM returned 42.42% vs 82.30% for GEME. Their correlation of 0.82 suggests significant overlap in exposure. NUEM charges 0.35%/yr vs 0.75%/yr for GEME.

Performance

NUEM vs. GEME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Emerging Markets Equity ETF (NUEM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUEM achieves a 19.14% return, which is significantly lower than GEME's 38.52% return.

NUEM

• 1D: -1.30%
• 1M: 3.53%
• YTD: 19.14%
• 6M: 21.09%
• 1Y: 42.42%
• 3Y*: 19.13%
• 5Y*: 5.39%
• 10Y*: —

GEME

• 1D: -1.23%
• 1M: 10.91%
• YTD: 38.52%
• 6M: 44.89%
• 1Y: 82.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUEM vs. GEME - Yearly Performance Comparison

	2026 (YTD)	2025
NUEM Nuveen ESG Emerging Markets Equity ETF	19.14%	25.48%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	38.52%	37.35%

Correlation

The correlation between NUEM and GEME is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Jan 24, 2025	0.82

The correlation between NUEM and GEME has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

NUEM vs. GEME — Risk / Return Rank

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

NUEM

NUEM Risk / Return Rank: 70
NUEM Sharpe Ratio Rank: 69
NUEM Sortino Ratio Rank: 67
NUEM Omega Ratio Rank: 71
NUEM Calmar Ratio Rank: 74
NUEM Martin Ratio Rank: 70

GEME

GEME Risk / Return Rank: 93
GEME Sharpe Ratio Rank: 95
GEME Sortino Ratio Rank: 93
GEME Omega Ratio Rank: 94
GEME Calmar Ratio Rank: 92
GEME Martin Ratio Rank: 93

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.

NUEM vs. GEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Emerging Markets Equity ETF (NUEM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). 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.

	NUEM	GEME	Difference
Sharpe ratio: Return per unit of total volatility	2.28	3.90	-1.62
Sortino ratio: Return per unit of downside risk	3.08	4.67	-1.59
Omega ratio: Gain probability vs. loss probability	1.42	1.68	-0.25
Calmar ratio: Return relative to maximum drawdown	3.69	6.15	-2.46
Martin ratio: Return relative to average drawdown	12.95	24.06	-11.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUEM vs. GEME - Sharpe Ratio Comparison

The current NUEM Sharpe Ratio is 2.28, which is lower than the GEME Sharpe Ratio of 3.90. The chart below compares the historical Sharpe Ratios of NUEM and GEME, 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

	NUEM	GEME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	3.90	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	2.66	-2.25

Drawdowns

NUEM vs. GEME - Drawdown Comparison

The maximum NUEM drawdown since its inception was -39.48%, which is greater than GEME's maximum drawdown of -16.86%. Use the drawdown chart below to compare losses from any high point for NUEM and GEME.

Drawdown Indicators

	NUEM	GEME	Difference
Max Drawdown Largest peak-to-trough decline	-39.48%	-16.86%	-22.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-13.46%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	-17.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.10%	—	—
Current Drawdown Current decline from peak	-1.30%	-1.23%	-0.07%
Average Drawdown Average peak-to-trough decline	-15.02%	-2.30%	-12.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	3.43%	-0.15%

Volatility

NUEM vs. GEME - Volatility Comparison

The current volatility for Nuveen ESG Emerging Markets Equity ETF (NUEM) is 6.76%, while Pacific North of South Global Emerging Markets Equity Active ETF (GEME) has a volatility of 8.56%. This indicates that NUEM experiences smaller price fluctuations and is considered to be less risky than GEME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUEM	GEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	8.56%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	17.91%	-2.08%
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	21.23%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.72%	22.95%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.18%	22.95%	-2.77%

NUEM vs. GEME - Expense Ratio Comparison

NUEM has a 0.35% expense ratio, which is lower than GEME's 0.75% expense ratio.

Dividends

NUEM vs. GEME - Dividend Comparison

NUEM's dividend yield for the trailing twelve months is around 3.00%, less than GEME's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GEME Pacific North of South Global Emerging Markets Equity Active ETF	5.06%	7.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUEM Nuveen ESG Emerging Markets Equity ETF	3.00%	3.58%	1.95%	2.37%	1.90%	2.45%	1.26%	1.98%	2.05%	0.62%

Frequently Asked Questions

Can I hold both NUEM and GEME in my portfolio?

NUEM and GEME have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUEM or GEME?

GEME has higher volatility (8.56%) compared to NUEM (6.76%). In terms of maximum drawdown, NUEM dropped -39.48% vs GEME's -16.86%.

Which ETF is better, NUEM or GEME?

On 1-year performance, GEME leads with 82.30% vs 42.42% for NUEM. On fees, NUEM is cheaper at 0.35% per year. On volatility, NUEM has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUEM or GEME?

Over the 1-year period, GEME has performed better with a 82.30% return vs 42.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUEM or GEME?

NUEM is cheaper with a 0.35% expense ratio, compared with 0.75% for GEME.

Which ETF pays a higher dividend yield, NUEM or GEME?

GEME has the higher dividend yield at 5.06%, compared with 3.00% for NUEM.

What is the main difference between NUEM and GEME?

They also come from different issuers: Nuveen and Pacific AM. Their fees differ too: 0.35% for NUEM and 0.75% for GEME.

Which has better risk-adjusted returns?

GEME currently has the higher Sharpe Ratio (3.90 vs 2.28), 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.