SEAB.DE vs. GASF.DE

Last updated Jul 16, 2026

SEAB.DE (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - SEAB.DE tracks the JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged) while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, SEAB.DE returned 0.98%/yr vs 3.52%/yr for GASF.DE. At a correlation of -0.15, they often move in opposite directions. SEAB.DE charges 0.38%/yr vs 0.24%/yr for GASF.DE.

Performance

SEAB.DE vs. GASF.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc (SEAB.DE) and Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEAB.DE achieves a 1.34% return, which is significantly lower than GASF.DE's 7.95% return.

SEAB.DE

• 1D: 0.08%
• 1M: -0.39%
• 6M: 1.02%
• YTD: 1.34%
• 1Y: 5.24%
• 3Y*: 5.89%
• 5Y*: 0.98%
• 10Y*: —

GASF.DE

• 1D: 0.06%
• 1M: 1.40%
• 6M: 6.61%
• YTD: 7.95%
• 1Y: 8.98%
• 3Y*: 5.09%
• 5Y*: 3.52%
• 10Y*: —

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

SEAB.DE vs. GASF.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SEAB.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc	1.34%	7.72%	5.56%	5.68%	-12.29%	-0.74%	1.25%	0.76%
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc	7.95%	-6.82%	10.85%	-2.28%	0.91%	16.54%	-0.76%	-8.22%

Correlation

The correlation between SEAB.DE and GASF.DE is -0.16, 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 (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.24
Correlation (5Y) Calculated over the trailing 5-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019	-0.15

Return for Risk

SEAB.DE vs. GASF.DE — Risk / Return Rank

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

SEAB.DE

SEAB.DE Risk / Return Rank: 77
SEAB.DE Sharpe Ratio Rank: 76
SEAB.DE Sortino Ratio Rank: 86
SEAB.DE Omega Ratio Rank: 84
SEAB.DE Calmar Ratio Rank: 63
SEAB.DE Martin Ratio Rank: 72

GASF.DE

GASF.DE Risk / Return Rank: 69
GASF.DE Sharpe Ratio Rank: 69
GASF.DE Sortino Ratio Rank: 74
GASF.DE Omega Ratio Rank: 72
GASF.DE Calmar Ratio Rank: 70
GASF.DE Martin Ratio Rank: 60

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.

SEAB.DE vs. GASF.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc (SEAB.DE) and Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE). 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.

	SEAB.DE	GASF.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.81	+0.12
Sortino ratio: Return per unit of downside risk	3.15	2.68	+0.48
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.07
Calmar ratio: Return relative to maximum drawdown	2.58	2.84	-0.26
Martin ratio: Return relative to average drawdown	10.64	8.54	+2.11

SEAB.DE vs. GASF.DE - Sharpe Ratio Comparison

The current SEAB.DE Sharpe Ratio is 1.94, which is comparable to the GASF.DE Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SEAB.DE and GASF.DE, 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

SEAB.DE vs. GASF.DE - Drawdown Comparison

The maximum SEAB.DE drawdown since its inception was -18.02%, which is greater than GASF.DE's maximum drawdown of -13.75%. Use the drawdown chart below to compare losses from any high point for SEAB.DE and GASF.DE.

Drawdown Indicators

	SEAB.DE	GASF.DE	Difference
Max Drawdown Largest peak-to-trough decline	-18.02%	-13.75%	-4.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-3.40%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-2.41%	-11.00%	+8.59%
Max Drawdown (5Y) Largest decline over 5 years	-18.02%	-13.75%	-4.27%
Current Drawdown Current decline from peak	-0.39%	-1.53%	+1.14%
Average Drawdown Average peak-to-trough decline	-4.72%	-6.06%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	1.12%	-0.63%

Volatility

SEAB.DE vs. GASF.DE - Volatility Comparison

The current volatility for UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc (SEAB.DE) is 0.51%, while Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a volatility of 1.48%. This indicates that SEAB.DE experiences smaller price fluctuations and is considered to be less risky than GASF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEAB.DE	GASF.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	1.48%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	3.45%	-1.20%
Volatility (1Y) Calculated over the trailing 1-year period	2.70%	5.35%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.49%	6.68%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	7.71%	-2.58%

SEAB.DE vs. GASF.DE - Expense Ratio Comparison

SEAB.DE has a 0.38% expense ratio, which is higher than GASF.DE's 0.24% expense ratio.

Dividends

SEAB.DE vs. GASF.DE - Dividend Comparison

SEAB.DE has not paid dividends to shareholders, while GASF.DE's dividend yield for the trailing twelve months is around 1.98%.

Position	TTM	2025	2024	2023	2022	2021	2020
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc	1.98%	2.36%	2.35%	2.63%	2.73%	2.40%	1.99%
SEAB.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEAB.DE and GASF.DE in my portfolio?

SEAB.DE and GASF.DE have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEAB.DE or GASF.DE?

On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEAB.DE or GASF.DE?

GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.38% for SEAB.DE.

What is the main difference between SEAB.DE and GASF.DE?

SEAB.DE tracks JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged), while GASF.DE tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: UBS and Goldman Sachs. Their fees differ too: 0.38% for SEAB.DE and 0.24% for GASF.DE.