SLMG.DE vs. GASF.DE
SLMG.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - SLMG.DE tracks the JP Morgan ESG EMBI Global Diversified (EUR Hedged) while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, SLMG.DE returned -1.01%/yr vs 3.49%/yr for GASF.DE. At a correlation of -0.19, they often move in opposite directions. SLMG.DE charges 0.50%/yr vs 0.24%/yr for GASF.DE.
Performance
SLMG.DE vs. GASF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SLMG.DE achieves a 0.61% return, which is significantly lower than GASF.DE's 7.80% return.
SLMG.DE
- 1D
- 0.00%
- 1M
- -1.00%
- 6M
- 0.61%
- YTD
- 0.61%
- 1Y
- 6.88%
- 3Y*
- 5.86%
- 5Y*
- -1.01%
- 10Y*
- —
GASF.DE
- 1D
- 0.00%
- 1M
- 1.11%
- 6M
- 5.78%
- YTD
- 7.80%
- 1Y
- 8.64%
- 3Y*
- 5.05%
- 5Y*
- 3.49%
- 10Y*
- —
SLMG.DE vs. GASF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SLMG.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc | 0.61% | 10.76% | 3.24% | 7.20% | -21.29% | -3.94% | 3.70% | 2.80% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.80% | -6.82% | 10.85% | -2.28% | 0.91% | 16.54% | -0.76% | 0.44% |
Correlation
The correlation between SLMG.DE and GASF.DE is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019 | -0.19 |
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Return for Risk
SLMG.DE vs. GASF.DE — Risk / Return Rank
SLMG.DE
GASF.DE
SLMG.DE vs. GASF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.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.
| SLMG.DE | GASF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.53 | -1.10 |
| Martin ratioReturn relative to average drawdown | 5.57 | 7.67 | -2.10 |
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Drawdowns
SLMG.DE vs. GASF.DE - Drawdown Comparison
The maximum SLMG.DE drawdown since its inception was -31.14%, 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 SLMG.DE and GASF.DE.
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Drawdown Indicators
| SLMG.DE | GASF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.14% | -13.75% | -17.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -3.40% | -1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -8.08% | -11.00% | +2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -30.75% | -13.75% | -17.00% |
Current DrawdownCurrent decline from peak | -6.75% | -1.66% | -5.09% |
Average DrawdownAverage peak-to-trough decline | -12.71% | -6.05% | -6.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.12% | +0.11% |
Volatility
SLMG.DE vs. GASF.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc (SLMG.DE) is 1.03%, while Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a volatility of 1.25%. This indicates that SLMG.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.
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Volatility by Period
| SLMG.DE | GASF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.25% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 3.44% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.73% | 5.31% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 6.68% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.25% | 7.71% | +2.54% |
SLMG.DE vs. GASF.DE - Expense Ratio Comparison
SLMG.DE has a 0.50% expense ratio, which is higher than GASF.DE's 0.24% expense ratio.
Dividends
SLMG.DE vs. GASF.DE - Dividend Comparison
SLMG.DE has not paid dividends to shareholders, while GASF.DE's dividend yield for the trailing twelve months is around 1.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.99% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
SLMG.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLMG.DE and GASF.DE have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.50% for SLMG.DE.
SLMG.DE tracks JP Morgan ESG EMBI Global Diversified (EUR Hedged), while GASF.DE tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.50% for SLMG.DE and 0.24% for GASF.DE.
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