GEM vs VYM
Goldman Sachs ActiveBeta Emerging Markets Equity ETF vs Vanguard High Dividend Yield ETF
Which is better, GEM or VYM?
Large Cap Blend against Large Cap Value.
VYM has a lower expense ratio. GEM led over 1Y and 3Y, VYM over 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 37.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GEM | VYM |
|---|---|---|
| Expense Ratio | 0.35% | 0.04%Best |
| AUM | $1.8B | $83.1B |
| Dividend Yield | 1.87% | 2.22% |
| Holdings | 1,478 | 608 |
| YTD Return | +21.02%Best | +10.00% |
| 1Y Return | +27.90%Best | +13.75% |
| 3Y Return (annualized) | +23.47%Best | +18.81% |
| 5Y Return (annualized) | +9.03% | +11.63%Best |
| Volatility (annualized) | 16.4% | 14.0%Best |
| Max Drawdown | -37.0% | -35.7%Best |
| $10,000 over 5 years | $15,407 | $17,334Best |
| Top 10 Weight | 37.3% | 26.1%Best |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Sep 25, 2015 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Sep 29, 2015 to Oct 2, 2026 (11 years).
GEM vs VYM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11 years both funds cover.
GEM vs VYM Performance
Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) is an ETF from Goldman Sachs Asset Management and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year GEM returned +27.90% while VYM returned +13.75%. Year to date, GEM is up 21.02% versus a gain of 10.00% for VYM.
Over three years, GEM compounded at +23.47% per year against +18.81% for VYM; over five years the annualized figures are +9.03% and +11.63% respectively. Across the full 11-year window we track, VYM has the edge at +10.48% annualized vs +9.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GEM has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 14.0% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -37.0% for GEM and -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GEM charges 0.35% per year while VYM charges 0.04%. On a $10,000 position that is $35 vs $4 annually, a gap of $31 per year that compounds over a long holding period. On income, GEM currently yields 1.87% against 2.22% for VYM.
Holdings Overlap
0.4% of GEM's money is in holdings VYM also owns. 0.5% of VYM's money is in holdings GEM also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 46 days apart, GEM as of Sep 15, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
5 positions in common, counted across the 732 positions we hold weights for in GEM and 557 in VYM, against full books of 1,478 and 608.
What only one of them owns
Our book lists 523 positions for VYM that do not appear in our book for GEM (96.6% of the fund), and 11 for GEM that do not appear in VYM (4.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
You are not choosing between two funds in isolation.
Whichever of GEM and VYM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GEM or VYM?
GEM has an expense ratio of 0.35% while VYM charges 0.04%. VYM is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, GEM or VYM?
Over the past year GEM returned +27.90% vs +13.75% for VYM, so GEM leads on 1-year performance. Over the longest common window we track (11 years), GEM annualized +9.22% vs +10.48% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GEM or VYM?
GEM has been the more volatile fund at 16.4% annualized versus 14.0% for VYM. Worst drawdown: GEM -37.0% vs VYM -35.7%.
Should I hold both GEM and VYM?
GEM and VYM have a monthly-return correlation of 0.65, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GEM or VYM?
GEM yields 1.87% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than GEM?
VYM has a lower expense ratio. GEM led over 1Y and 3Y, VYM over 5Y and the full window. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 37.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.