GEMJX Performance — Goldman Sachs Emerging Markets Equity Ex. China Fund, Institutional Shares
Data updated: 2026-03-31
GEMJX returned +9.24% year to date and +41.70% over one year to Jan 2026. The annualised 3-year return is +18.40%. The fund beat its Emerging Markets Equity category average: $100 invested three years ago grew to $166, against $155 for the category, and to $142 over one year, against $138. Volatility over the past three years was 13.09% a year. In the 12 months to Jan 2026 the fund lost a net $2.5M, and assets reached $12.61M.
GEMJX Growth of $100
What $100 invested in Goldman Sachs Emerging Markets Equity Ex. China Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | GEMJX | Category average |
|---|---|---|
| 1 year (Feb 2025 – Jan 2026) | $142 | $138 |
| 3 years (Feb 2023 – Jan 2026) | $166 | $155 |
| Since data start (Dec 2022 – Jan 2026) | $173 | $163 |
GEMJX Trailing Returns
Total returns to Jan 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.24% |
| 1 year | +41.70% |
| 3 years (annualised) | +18.40% |
GEMJX Annual Returns
Calendar-year total returns of Goldman Sachs Emerging Markets Equity Ex. China Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jan) | +9.24% |
| 2025 | +29.72% |
| 2024 | +4.52% |
| 2023 | +20.40% |
| 2022 (Dec–Dec) | −3.15% |
GEMJX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +9.2% | — | — | — | — | — | — | — | — | — | — | — |
| 2025 | 0.0% | −3.1% | −0.5% | +3.3% | +5.1% | +6.4% | +0.1% | +0.8% | +6.3% | +7.0% | −2.2% | +3.9% |
| 2024 | −1.7% | +4.2% | +2.6% | −3.2% | +0.9% | +5.4% | +2.0% | +0.9% | +0.5% | −3.7% | −1.5% | −1.5% |
| 2023 | +7.5% | −3.8% | +2.4% | +0.2% | +1.9% | +4.2% | +1.4% | −4.2% | −2.4% | −2.9% | +10.1% | +5.4% |
| 2022 | — | — | — | — | — | — | — | — | — | — | — | −3.2% |
GEMJX Risk
Risk measures from monthly returns over Feb 2023 – Jan 2026.
- 3-year volatility (annualised): 13.09%
- 3-year Sharpe ratio: 1.06 (vs 4.5% risk-free rate)
- Best month: +10.08% (Nov 2023)
- Worst month: −4.17% (Aug 2023)
GEMJX Fund Flows
Monthly money in and out of Goldman Sachs Emerging Markets Equity Ex. China Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.5M
- 12-month gross sales (incl. reinvestments): $972K
- Sales ÷ redemptions: 0.28×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jan 2026 | $499K | $382K | $117K |
| Dec 2025 | $136K | $2.4M | −$2.2M |
| Nov 2025 | $6K | $0 | $6K |
| Oct 2025 | $62K | $24K | $38K |
| Sep 2025 | $11K | $3K | $7K |
| Aug 2025 | $186K | $106K | $79K |
| Jul 2025 | $15K | $27K | −$12K |
| Jun 2025 | $9K | $793 | $8K |
| May 2025 | $10K | $0 | $10K |
| Apr 2025 | $16K | $346K | −$329K |
| Mar 2025 | $17K | $210K | −$193K |
| Feb 2025 | $6K | $0 | $6K |
GEMJX Assets Under Management
Net assets of Goldman Sachs Emerging Markets Equity Ex. China Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-01-31 | $12.61M |
| 2025-10-31 | $13.69M |
| 2025-07-31 | $11.82M |
| 2025-04-30 | $10.56M |
| 2025-01-31 | $11.16M |
| 2024-10-31 | $12.10M |
| 2024-07-31 | $12.08M |
| 2024-04-30 | $10.69M |
| 2024-01-31 | $10.28M |
| 2023-10-31 | $8.21M |
| 2023-07-31 | $7.21M |
| 2023-04-28 | $6.55M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.