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
$ 1.7 B
ASSETS UNDER MGMT
45 bp
EXPENSES
Fund Basics
| Inception date | Sep 25, 2015 |
| Regulation | Open-End Investment Company |
| 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 | 13.9 % |
| SAMSUNG ELECTRONICS CO LTD | 5.8 % |
| HYNIX SEMICONDUCTOR INC | 3.2 % |
| TENCENT HOLDINGS LTD | 3.1 % |
| ALIBABA GROUP HOLDING LTD. | 2.1 % |
| RELIANCE INDS-SPONS GDR 144A | 1.9 % |
| MEDIATEK INC | 1.0 % |
| DELTA ELECTRONICS INC | 0.9 % |
| CHINA CONSTRUCTION BANK-H | 0.8 % |
| ISHARES MSCI MALAYSIA ETF | 0.6 % |
Constituent Breakdown
| Number of holdings | 751 |
| Herfindahl-Hirschman Index | 267 |
| Wgt avg mkt cap (mns) | $255,734 |
| Large cap (>$10bn) | 70.6% |
| Mid cap ($2-10bn) | 21.1% |
| Small cap (<$2bn) | 0.4% |
| Developed mkts. | 3.8% |
| Emerging mkts. | 90.0% |
Sector Breakdown
Country Exposure
 |
TAIWAN | 22.8 % |
 |
CHINA | 20.7 % |
 |
SOUTH KOREA | 15.9 % |
 |
INDIA | 12.0 % |
 |
BRAZIL | 3.8 % |
 |
SOUTH AFRICA | 2.9 % |
 |
HONG KONG | 2.1 % |
 |
SAUDI ARABIA | 1.7 % |
 |
MEXICO | 1.5 % |
 |
POLAND | 1.3 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 24.9% | 49.4% | 27.6% | 21.5% | 4.9% | 7.4% | -- | 7.3% |
| Dividend Yield | 0.0% | 3.5% | 3.1% | 2.8% | 2.9% | 2.6% | -- | 2.5% |
| Total Returns | 24.9% | 52.9% | 30.8% | 24.2% | 7.8% | 10.0% | -- | 9.8% | Ann. Volatility | 26.0% | 19.4% | 19.2% | 17.4% | 17.7% | 19.0% | -- | 19.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.24 | 56% |
| MSCI EAFE | 1.05 | 66% |
| MSCI Emg Mkts | 0.97 | 99% |
Liquidity Measures
| Avg. volume (000) | 95 |
| ADV traded (mns) | $5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.18% |
Technical Indicators
| 30d moving avg. (EMA) | $49.46 |
| Relative strength (RSI) | 61 |
| MACD/Signal | 1.06/0.99 |
| Bollinger Bands (Upper/Lower) | $52.66/$48.03 |
| Short interest (% of AUM) | 0.4% |
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 | 71.6% | +21 bp | -0.7% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 69.3% | -30 bp | +0.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 69.1% | -9 bp | -0.3% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 68.4% | -34 bp | -0.1% |
| HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | 66.9% | +24 bp | -0.4% |
| EEM | iShares MSCI Emerging Markets ETF | 66.8% | +24 bp | -0.1% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 64.6% | -15 bp | +0.1% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 62.2% | -36 bp | +0.3% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 61.0% | -26 bp | -0.8% |
| DFAE | Dimensional Emerging Core Equity Market ETF | 59.6% | -10 bp | -0.8% |
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 6/3/2026
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
8.0%
ALTAR SCORE™
63rd
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 217 funds in the Emerging Equity category with an average
ALTAR Score™ of 7.3% and a standard deviation
of 2.2%. GEM's ALTAR Score™ is approximately 0.3 standard
deviations above the category average. This places GEM in the 63rd percentile
among funds in the category.
Sell-Side Consensus
$57.97
PRICE TARGET
+8.1%
UPSIDE