V3MA.DE vs. GACB.DE

Last updated Jun 5, 2026

V3MA.DE (Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating) and GACB.DE (Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)) are both Emerging Markets Equities funds - V3MA.DE tracks the FTSE Emerging All Cap Choice while GACB.DE tracks the Goldman Sachs ActiveBeta Emerging Markets Equity. Both are passively managed. Their correlation of 0.81 suggests significant overlap in exposure. V3MA.DE charges 0.24%/yr vs 0.49%/yr for GACB.DE.

Performance

V3MA.DE vs. GACB.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating (V3MA.DE) and Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.) (GACB.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

V3MA.DE

• 1D: -0.58%
• 1M: 3.08%
• YTD: 16.20%
• 6M: 17.26%
• 1Y: 31.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GACB.DE

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

V3MA.DE vs. GACB.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
V3MA.DE Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating	16.20%	10.67%	1.36%
GACB.DE Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)	4.68%	17.61%	0.47%

Correlation

The correlation between V3MA.DE and GACB.DE is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Nov 4, 2024	0.81

The correlation between V3MA.DE and GACB.DE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

V3MA.DE vs. GACB.DE — Risk / Return Rank

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

V3MA.DE

V3MA.DE Risk / Return Rank: 64
V3MA.DE Sharpe Ratio Rank: 62
V3MA.DE Sortino Ratio Rank: 62
V3MA.DE Omega Ratio Rank: 62
V3MA.DE Calmar Ratio Rank: 70
V3MA.DE Martin Ratio Rank: 64

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.

V3MA.DE vs. GACB.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating (V3MA.DE) and Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.) (GACB.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.

	V3MA.DE	GACB.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.04	—	—
Sortino ratio: Return per unit of downside risk	2.86	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.45	—	—
Martin ratio: Return relative to average drawdown	11.63	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	V3MA.DE	GACB.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	—	—

Drawdowns

Drawdown Indicators

	V3MA.DE	GACB.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.79%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	—	—
Current Drawdown Current decline from peak	-1.50%	—	—
Average Drawdown Average peak-to-trough decline	-3.29%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	—	—

Volatility

Volatility by Period

	V3MA.DE	GACB.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	—	—

V3MA.DE vs. GACB.DE - Expense Ratio Comparison

V3MA.DE has a 0.24% expense ratio, which is lower than GACB.DE's 0.49% expense ratio.

Dividends

V3MA.DE vs. GACB.DE - Dividend Comparison

Neither V3MA.DE nor GACB.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both V3MA.DE and GACB.DE in my portfolio?

V3MA.DE and GACB.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, V3MA.DE or GACB.DE?

On fees, V3MA.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, V3MA.DE or GACB.DE?

V3MA.DE is cheaper with a 0.24% expense ratio, compared with 0.49% for GACB.DE.

What is the main difference between V3MA.DE and GACB.DE?

V3MA.DE tracks FTSE Emerging All Cap Choice, while GACB.DE tracks Goldman Sachs ActiveBeta Emerging Markets Equity. They also come from different issuers: Vanguard and Goldman Sachs. Their fees differ too: 0.24% for V3MA.DE and 0.49% for GACB.DE.