GEM
Goldman Sachs ActiveBeta Emerging Markets Equity ETF
GEM tracks an index of emerging market stocks comprising 4 subindexes: value, momentum, quality and low volatility. The index uses multiple factors to pick stocks, and each subindex receives equal weight.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 1.6 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Inception date | Sep 25, 2015 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 15.5 % |
| SAMSUNG ELECTRONICS CO LTD | 6.6 % |
| SK HYNIX INC | 4.4 % |
| TENCENT HOLDINGS LTD | 2.5 % |
| ALIBABA GROUP HOLDING LTD. | 1.6 % |
| MEDIATEK INC | 1.6 % |
| SAMSUNG ELECTRONICS-PFD | 1.0 % |
| CHINA CONSTRUCTION BANK-H | 0.9 % |
| DELTA ELECTRONICS INC | 0.6 % |
| HON HAI PRECISION INDUSTRY | 0.5 % |
Constituent Breakdown
| Number of holdings | 738 |
| Herfindahl-Hirschman Index | 289 |
| Wgt avg mkt cap (mns) | $475,225 |
| Large cap (>$10bn) | 76.3% |
| Mid cap ($2-10bn) | 16.5% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 3.7% |
| Emerging mkts. | 84.2% |
Sector Breakdown
Country Exposure
 |
TAIWAN | 27.4 % |
 |
SOUTH KOREA | 18.0 % |
 |
CHINA | 17.2 % |
 |
INDIA | 10.3 % |
 |
BRAZIL | 3.4 % |
 |
SOUTH AFRICA | 2.8 % |
 |
HONG KONG | 1.9 % |
 |
MEXICO | 1.7 % |
 |
SAUDI ARABIA | 1.6 % |
 |
UAE | 1.3 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 22.8% | 25.5% | 20.6% | 21.3% | 6.6% | 6.0% | -- | 6.9% |
| Dividend Yield | 0.0% | 2.9% | 3.0% | 2.2% | 2.4% | 2.5% | -- | 2.4% |
| Total Returns | 22.8% | 28.4% | 23.6% | 23.5% | 9.0% | 8.5% | -- | 9.4% | Ann. Volatility | 27.2% | 24.7% | 21.3% | 19.3% | 18.8% | 19.4% | -- | 19.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.46 | 59% |
| MSCI EAFE | 1.25 | 65% |
| MSCI Emg Mkts | 0.97 | 99% |
Liquidity Measures
| Avg. volume (000) | 153 |
| ADV traded (mns) | $7 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| 30d moving avg. (EMA) | $48.99 |
| Relative strength (RSI) | 40 |
| MACD/Signal | -1.04/-0.90 |
| Bollinger Bands (Upper/Lower) | $51.43/$45.77 |
| Short interest (% of AUM) | 0.3% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GEM |
Expenses vs. GEM |
ALTAR Score™ vs. GEM |
|---|---|---|---|---|
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 72.1% | +31 bp | -0.3% |
| EEM | iShares MSCI Emerging Markets ETF | 71.6% | +37 bp | -0.6% |
| HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | 71.5% | +116 bp | -1.4% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 69.9% | -5 bp | -0.2% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 69.5% | -24 bp | +0.1% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 69.4% | -20 bp | +0.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 69.2% | +10 bp | -0.1% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 66.3% | -26 bp | -0.2% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 63.0% | -10 bp | -2.3% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 62.4% | -16 bp | -0.6% |
Risk and Returns: GEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/5/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
10.1%
ALTAR SCORE™
77th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 211 funds in the Emerging Equity category with an average
ALTAR Score™ of 8.3% and a standard deviation
of 2.4%. GEM's ALTAR Score™ is approximately 0.7 standard
deviations above the category average. This places GEM in the 77th percentile
among funds in the category.
Sell-Side Consensus
$62.45
PRICE TARGET
+40.0%
UPSIDE