PBOG vs. GEMD
PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) and GEMD (Goldman Sachs Access Emerging Markets USD Bond ETF) are both exchange-traded funds - PBOG is a Energy Equities fund tracking the BITA Global Oil & Gas Select 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. At a correlation of -0.38, they often move in opposite directions. PBOG charges 0.13%/yr vs 0.39%/yr for GEMD.
Performance
PBOG vs. GEMD - Performance Comparison
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Returns By Period
In the year-to-date period, PBOG achieves a 20.33% return, which is significantly higher than GEMD's 2.26% return.
PBOG
- 1D
- 0.25%
- 1M
- -9.73%
- YTD
- 20.33%
- 6M
- 21.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GEMD
- 1D
- -0.04%
- 1M
- 1.79%
- YTD
- 2.26%
- 6M
- 2.29%
- 1Y
- 10.81%
- 3Y*
- 8.14%
- 5Y*
- —
- 10Y*
- —
PBOG vs. GEMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 20.33% | 1.39% |
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 2.26% | 0.42% |
Correlation
The correlation between PBOG and GEMD is -0.38, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | -0.38 |
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Return for Risk
PBOG vs. GEMD — Risk / Return Rank
PBOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GEMD
PBOG vs. GEMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) 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.
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.
| PBOG | GEMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.36 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.34 | — |
| Martin ratioReturn relative to average drawdown | — | 9.83 | — |
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Drawdowns
PBOG vs. GEMD - Drawdown Comparison
The maximum PBOG drawdown since its inception was -16.46%, smaller than the maximum GEMD drawdown of -24.56%. Use the drawdown chart below to compare losses from any high point for PBOG and GEMD.
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Drawdown Indicators
| PBOG | GEMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -24.56% | +8.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.69% | — |
Current DrawdownCurrent decline from peak | -15.19% | -0.42% | -14.77% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -8.09% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.10% | — |
Volatility
PBOG vs. GEMD - Volatility Comparison
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Volatility by Period
| PBOG | GEMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.81% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.59% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.95% | 5.67% | +18.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 9.92% | +14.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.95% | 9.92% | +14.03% |
PBOG vs. GEMD - Expense Ratio Comparison
PBOG has a 0.13% expense ratio, which is lower than GEMD's 0.39% expense ratio.
Dividends
PBOG vs. GEMD - Dividend Comparison
PBOG's dividend yield for the trailing twelve months is around 0.14%, less than GEMD's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GEMD Goldman Sachs Access Emerging Markets USD Bond ETF | 5.65% | 6.32% | 5.79% | 5.70% | 5.42% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.14% | 0.17% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBOG and GEMD have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.39% for GEMD.
GEMD has the higher dividend yield at 5.65%, compared with 0.14% for PBOG.
PBOG is categorized as Energy Equities, while GEMD is Emerging Markets Bonds. PBOG tracks BITA Global Oil & Gas Select Index, while GEMD tracks FTSE Goldman Sachs Emerging Markets USD Bond Index - Benchmark TR Net. They also come from different issuers: Portfolio Building Blocks and Goldman Sachs. Their fees differ too: 0.13% for PBOG and 0.39% for GEMD.
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