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EMBX vs GAEM

VanEck Emerging Markets Bond ETF

EMBXBNYSE Arca

Simplify Gamma Emerging Market Bond ETF

GAEMDNYSE Arca

Overlap

Expense ratio

EMBX −0.11pt a year

EMBX0.65%GAEM0.76%

Avg volume · 30D

EMBX 3.9×the volume

EMBX33.6KGAEM8.7K

EMBX vs GAEM Performance

Oct 31, 2025 – Oct 30, 2026

+3.9%EMBX+2.3%GAEM

Oct 31, 2025 to Oct 30, 2026. EMBX +3.9%. GAEM +2.3%. Use the arrow keys to read each point.0%6%Oct 2025Apr 2026Oct 2026
Expense ratio
EMBX 0.65%, better
GAEM 0.76%
Fund size
EMBX $294M
GAEM $40M
1Y total return
EMBX +3.9%, better
GAEM +2.3%
Yield (12M)
EMBX 5.82%
GAEM 7.05%, better
Holdings
EMBX 140
GAEM 84
Avg volume (30D)
EMBX 33.6K sh, better
GAEM 8.7K sh
NAV per share
EMBX $49.48
GAEM $25.54
52W range

ETF.net Grade

EMBX: Cost 33, Risk 55, Mission 96, Tradability 59, Holdings 64, Durability 63. GAEM: Cost 21, Risk 52, Mission 48, Tradability 34, Holdings 60, Durability 33.
Pillar letters and Scores for EMBX, GAEM, with each pillar’s weight
PillarEMBXGAEM
Cost30% weightD33HigherF21
Mission25% weightA96HigherC48
Risk15% weightB55HigherC52
Tradability15% weightB59HigherD34
Holdings10% weightB64HigherB60
Durability5% weightB63HigherD33

Rank among Emerging Markets Bonds (Local Currency) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EMBX and GAEM are both graded against the same 7 Emerging Markets Bonds (Local Currency) funds, so their Grades compare head to head.

Emerging Markets Bonds (Local Currency)⁠

Category · 7 funds
See all 7 ›

EMBX ranks 3rd and GAEM 6th of 7 funds in the Emerging Markets Bonds (Local Currency) Category.

  1. Rank 1AEMLCVanEck J.P. Morgan EM Local Currency Bond ETFScore 80
  2. Rank 2ALEMBiShares J.P. Morgan EM Local Currency Bond ETFScore 75
  3. Rank 3BEMBXVanEck Emerging Markets Bond ETFScore 60
  4. Rank 4CELDWisdomTree Emerging Markets Local Debt FundScore 55
  5. Rank 5CFEMBFirst Trust Emerging Markets Local Currency Bond ETFScore 41
  6. Rank 6DGAEMSimplify Gamma Emerging Market Bond ETFScore 38
  7. Rank 7DCBONVanEck China Bond ETFScore 37

Our read on each fund

ETF.net Research

EMBXBVanEck Emerging Markets Bond ETF

GAEMDSimplify Gamma Emerging Market Bond ETF

In short

EMBX Nearly every EM bond ETF in this group tracks a J.P. Morgan index. EMBX doesn't: it's an active, index-agnostic fund roaming sovereign and corporate debt in both hard and local currency, run by the same team since 2012, for 0.65%.

GAEM Simplify's counterpunch to index-tracking emerging market bond funds: an active, concentrated book of a few dozen bonds with a declared Latin America tilt, run for total return across dollar and local-currency debt.

Stated mandate

EMBX The ETF seeks total return from income and capital appreciation through active investment in debt securities issued by emerging-market governments, quasi-government entities, and corporations.

GAEM The Fund seeks to maximize total return.

Why people hold it

  • EMBX Go-anywhere mandate: sovereigns and corporates, hard currency and local, no index to hug. Peers like EMLC and LEMB track local-currency government debt only.vaneck.com
  • Not a startup strategy. It ran as a mutual fund from 2012 and converted into this ETF on October 6, 2025, keeping the portfolio team and the performance history.vaneck.com
  • VanEck cut the fee in 2026, to 0.65% with no waiver propping it up, and the holdings line up closely with the broad mandate the fund advertises.vaneck.com
  • Roughly 130 bonds across emerging-market governments, quasi-sovereigns and companies, paid out monthly. Among the stronger implementations in a small peer group.
  • GAEM Actively run and concentrated: a few dozen positions rather than an index's hundreds, spanning both dollar-denominated and local-currency emerging market debt.
  • The mandate is written down, not implied: at least 80% of net assets in emerging market debt under normal conditions, with a stated Latin America tilt.simplify.us
  • One job in the prospectus: maximize total return. Price moves count the same as coupons, so the manager isn't anchored to the fattest headline yields.simplify.us

Worth knowing

  • EMBX At 0.65% it costs more than the typical fund in this category: index peers EMLC (0.30% net of a waiver through May 1, 2027) and LEMB (0.30%) charge less.
  • Thinly traded next to the big index funds here, so the spread you cross matters more than it would in a mega-fund.
  • The hard-versus-local currency mix shifts with the manager's calls, so your FX exposure moves around. The ETF's own trading record starts in October 2025.vaneck.com
  • GAEM Fees are the sore spot: 0.96% a year, roughly triple the 0.30% on VanEck's index-based EMLC. Active security picking carries that hurdle.
  • Small fund, light trading volume. Bid-ask spreads can run wider than on the category's household-name bond ETFs.
  • Launched in 2024, so the record is short, and cash comes out on an irregular schedule rather than a fixed monthly one.

Full EMBX profile⁠

Full GAEM profile⁠

EMBX vs GAEM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMBX vs GAEM Cost

Overpaying GAEM vs EMBX

$1,939

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • EMBX 0.65%

    $12,717

  • GAEM 0.76%

    $14,656

$10,000
30 years

Cost over time

  • EMBX 0.65%
  • GAEM 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530GAEM $14,656EMBX $12,717

Year by year

YearEMBXGAEMOverpaying
10$1,163$1,353$190
20$4,440$5,142$702
30$12,717$14,656$1,939

Expense ratio

  • 0.65%EMBX, cheaper
  • 0.76%GAEM
  • Middle half of Emerging Markets Bonds (Local Currency) funds
  • Median 0.55%

EMBX 5th cheapest of 7 funds

GAEM 6th cheapest of 7 funds

EMBX vs GAEM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EMBX 5.82%
GAEM 7.05%, better
Payout (12M)
EMBX $2.88
GAEM $1.80
Last payment
EMBX $0.23
GAEM $0.20
Ex-dividend
EMBX Oct 1, 2026
GAEM Oct 27, 2026
Paid on
EMBX Oct 6, 2026
GAEM Oct 30, 2026
Frequency
EMBX Monthly
GAEM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

EMBXMonthly · 15 paymentsAll EMBX payments⁠
One bar per payment. 15 payments from 2024 to 2026 YTD. Jul 24, 2025 $0.29; Aug 21, 2025 $0.28; Sep 25, 2025 $0.31; Nov 3, 2025 $0.22; Nov 28, 2025 $0.26; Dec 29, 2025 $0.27; Feb 2, 2026 $0.21; Mar 2, 2026 $0.22; Apr 1, 2026 $0.20; May 1, 2026 $0.23; Jun 1, 2026 $0.28; Jul 1, 2026 $0.24; Aug 3, 2026 $0.26; Sep 1, 2026 $0.26; Oct 1, 2026 $0.23. Use the arrow keys to read each point.$0$12026YTD
GAEMMonthly · 16 paymentsAll GAEM payments⁠
One bar per payment. 16 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.95; Mar 26, 2025 $0.40; Jun 25, 2025 $0.40; Sep 25, 2025 $0.40; Nov 21, 2025 $0.13; Dec 23, 2025 $0.20; Jan 27, 2026 $0.13; Feb 24, 2026 $0.14; Mar 26, 2026 $0.14; Apr 27, 2026 $0.14; May 26, 2026 $0.14; Jun 25, 2026 $0.14; Jul 28, 2026 $0.14; Aug 26, 2026 $0.15; Sep 25, 2026 $0.15; Oct 27, 2026 $0.20. Use the arrow keys to read each point.$0$12026YTD

EMBX vs GAEM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
EMBX 6.5%since Oct 2025GAEM 5.5%since Sep 2024
Return per unit of riskSharpe ratio, 3 years
EMBX 0.11since Oct 2025GAEM 0.63since Sep 2024
Worst fallMax drawdown, 5 years
EMBX −5.2%since Sep 2025GAEM −4.6%since Aug 2024
Market sensitivityBeta, 5 years
EMBX 1.06GAEM 0.36

EMBX and GAEM in the news

All news⁠

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