ETF Evaluator:
Goldman Sachs Access Emrg Mkts USD BdETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Emerging Markets Bond Over the Last Year
| 12.8% | Virtus Stone Harbor Emr Mkt Hi Yld BdETF (VEMY) |
| 11.5% | VanEck Emerging Markets Bond ETF (EMBX) |
| 11.3% | Neuberger Em Mkts Debt Hard Ccy ETF (NEMD) |
| 9.5% | iShares J.P. Morgan EM High Yld Bd ETF (EMHY) |
| 9.4% | Simplify Gamma Emerging Market Bond ETF (GAEM) |
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Risk
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ETF Details
Goldman Sachs Access Emrg Mkts USD BdETF Overview
Goldman Sachs Access Emrg Mkts USD BdETF (GEMD) is a passively managed Taxable Bond Emerging Markets Bond exchange-traded fund (ETF). Goldman Sachs launched the ETF in 2022.
The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the FTSE Goldman Sachs Emerging Markets USD Bond Index (the “index”).
The fund seeks to invest at least 80% of its assets in securities included in its underlying index. The index is a rules-based index that is designed to measure the performance of investment grade and high yield bonds issued by emerging market governments or quasi-government entities denominated in U.S. dollars (“USD”) that meet certain liquidity, governance and fundamental screening criteria.
About Goldman Sachs Access Emrg Mkts USD BdETF (GEMD)
There are 3 members of the management team with an average tenure of 3.31 years: Anupam Damani (2025), David Westbrook (2022) and Todd Henry (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and FTSE Goldman Sachs EM USD Bond USD index with a weighting of 100%. Goldman Sachs Access Emrg Mkts USD BdETF has 205 securities in its portfolio. The top 10 holdings constitute 10.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Goldman Sachs Access Emrg Mkts USD BdETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Goldman Sachs Access Emrg Mkts USD BdETF has 99.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.2% (0.0% domestic bond, 99.2% foreign bond and 0.0% convertible bond). Goldman Sachs Access Emrg Mkts USD BdETF has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $35 million in total assets, which is below the $1 billion average for the Emerging Markets Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GEMD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Goldman Sachs Access Emrg Mkts USD BdETF expense ratio is below average compared to funds in the Emerging Markets Bond category. Goldman Sachs Access Emrg Mkts USD BdETF has an expense ratio of 0.30%, which is 35% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Goldman Sachs Access Emrg Mkts USD BdETF has a portfolio turnover rate of 17%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 56% for the Emerging Markets Bond category.
Recently, in the month of July 2026, Goldman Sachs Access Emrg Mkts USD BdETF returned -1.8%, which earned it a grade of F, as the Emerging Markets Bond category had an average return of -1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Goldman Sachs Access Emrg Mkts USD BdETF has a trailing yield of 5.76%, which is below the 6.13% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Goldman Sachs Access Emrg Mkts USD BdETF Grades
Year to date, the ETF has returned 0.5%, 1.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 6.8% over the past year (grade of D) and 7.2% over the past three years (grade of F).
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GEMD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GEMD Return (NAV) | -1.8% | -0.1% | 6.8% | 7.2% | na | na |
| GEMD Return (Price) | -1.7% | -0.1% | 7.0% | 7.0% | na | na |
| NAV +/- Price Return | -0.071% | 0.000% | -0.133% | 0.191% | na | na |
| Emerging Markets Bond Avg | -1.1% | 0.6% | 8.0% | 8.7% | 2.3% | 3.6% |
| GEMD Grade (NAV) | F | F | D | F | na | na |
| +/- Category (NAV) | -0.7% | -0.6% | -1.2% | -1.6% | na | na |
| GEMD Tax-Cost Ratio | na | na | 2.3% | 2.4% | na | na |
GEMD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GEMD Return (NAV) | 0.5% | 13.4% | 3.4% | 8.4% | na | na | na | na | na | na | na |
| GEMD Return (Price) | 0.7% | 13.7% | 3.3% | 8.5% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.225% | 0.019% | -0.019% | 0.009% | na | na | na | na | na | na | na |
| Emerging Markets Bond Avg | 2.0% | 13.0% | 6.8% | 10.3% | -14.2% | -3.3% | 5.9% | 13.9% | -4.6% | 9.8% | 10.7% |
| GEMD Grade (NAV) | F | C | F | F | na | na | na | na | na | na | na |
| +/- Category | -1.5% | 0.4% | -3.5% | -1.9% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.10 |
| R-Squared: | 79% |
| Standard Deviation: | 7.0% |
| Category Risk Index: | 1.13 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.57 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 5.8% |
| Total Assets: | $ 35 Mil |
| Share Class Assets: | $ 35 Mil |
| Turnover: | 17.0% |
| Expense Ratio: | 0.30% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg Global Aggregate TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.5 years | |||
| Average Tenure: 3.3 years | |||
| Managers (Year): Westbrook David (2022), Henry Todd (2022), Damani Anupam (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 205 |
| % in Top 10 Holdings: | 10.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 99.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 99.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Goldman Sachs |
| Phone Number: | 800-621-2550 |
| Website: | am.gs.com |
| Inception Date: | February 15, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.30% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.46% |
