GEMLX Performance — Goldman Sachs Emerging Markets Equity Ex. China Fund, Class C
Data updated: 2026-03-31
GEMLX returned +9.21% year to date and +40.23% over one year to Jan 2026. The annualised 3-year return is +17.05%. The fund beat its Emerging Markets Equity category average: $100 invested three years ago grew to $160, against $155 for the category, and to $140 over one year, against $138. Volatility over the past three years was 13.05% a year. In the 12 months to Jan 2026 the fund lost a net $2.5M, and assets reached $12.61M.
GEMLX 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 | GEMLX | Category average |
|---|---|---|
| 1 year (Feb 2025 – Jan 2026) | $140 | $138 |
| 3 years (Feb 2023 – Jan 2026) | $160 | $155 |
| Since data start (Dec 2022 – Jan 2026) | $167 | $163 |
GEMLX Trailing Returns
Total returns to Jan 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +9.21% |
| 1 year | +40.23% |
| 3 years (annualised) | +17.05% |
GEMLX 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) | +9.21% |
| 2025 | +28.29% |
| 2024 | +3.30% |
| 2023 | +19.05% |
| 2022 (Dec–Dec) | −3.14% |
GEMLX 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 | −0.1% | −3.1% | −0.6% | +3.1% | +5.0% | +6.3% | 0.0% | +0.8% | +6.1% | +6.9% | −2.3% | +3.8% |
| 2024 | −1.9% | +4.1% | +2.6% | −3.3% | +0.9% | +5.3% | +1.9% | +0.9% | +0.4% | −3.8% | −1.5% | −1.7% |
| 2023 | +7.5% | −3.8% | +2.4% | +0.3% | +1.5% | +3.8% | +1.3% | −4.2% | −2.5% | −3.0% | +10.0% | +5.4% |
| 2022 | — | — | — | — | — | — | — | — | — | — | — | −3.1% |
GEMLX Risk
Risk measures from monthly returns over Feb 2023 – Jan 2026.
- 3-year volatility (annualised): 13.05%
- 3-year Sharpe ratio: 0.96 (vs 4.5% risk-free rate)
- Best month: +9.98% (Nov 2023)
- Worst month: −4.20% (Aug 2023)
GEMLX 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 |
GEMLX 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.