GEMSX Performance — Goldman Sachs Emerging Markets Equity Fund, Service Class
Data updated: 2026-09-24
GEMSX returned +19.10% year to date and +37.90% over one year to Jul 2026. Annualised returns are +18.45% over 3 years and +3.70% over 5 years. The fund beat its Emerging Markets Equity category average: $100 invested three years ago grew to $166, against $164 for the category, and to $138 over one year, against $134. Volatility over the past three years was 17.40% a year. In the 12 months to Jul 2026 the fund lost a net $621.9M, and assets reached $3.18B.
GEMSX Growth of $100
What $100 invested in Goldman Sachs Emerging Markets Equity 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 | GEMSX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $138 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $166 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $120 | $143 |
| Since data start (Aug 2019 – Jul 2026) | $177 | $188 |
GEMSX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +19.10% |
| 1 year | +37.90% |
| 3 years (annualised) | +18.45% |
| 5 years (annualised) | +3.70% |
GEMSX Annual Returns
Calendar-year total returns of Goldman Sachs Emerging Markets Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +19.10% |
| 2025 | +32.18% |
| 2024 | +8.55% |
| 2023 | +6.08% |
| 2022 | −30.33% |
| 2021 | −2.95% |
| 2020 | +30.35% |
| 2019 (Aug–Dec) | +10.61% |
GEMSX 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 | +8.7% | +5.9% | −10.4% | +15.5% | +7.7% | +1.7% | −8.6% | — | — | — | — | — |
| 2025 | +0.6% | +1.2% | 0.0% | +0.4% | +4.5% | +5.9% | +0.9% | +3.2% | +7.5% | +3.7% | −2.3% | +3.0% |
| 2024 | −3.4% | +5.2% | +2.6% | −0.8% | +1.1% | +3.1% | +1.0% | +1.3% | +5.8% | −3.7% | −2.5% | −0.9% |
| 2023 | +10.4% | −7.0% | +2.0% | −1.7% | −2.3% | +4.4% | +4.0% | −5.6% | −3.0% | −3.3% | +6.7% | +2.9% |
| 2022 | −3.8% | −6.3% | −4.6% | −7.7% | +0.4% | −6.7% | +0.1% | −1.8% | −11.3% | −4.9% | +15.6% | −2.4% |
| 2021 | +3.9% | +1.1% | −3.3% | +1.6% | +2.2% | +2.6% | −5.7% | +2.7% | −4.6% | +1.0% | −4.6% | +0.6% |
| 2020 | −2.8% | −3.3% | −17.0% | +8.7% | +4.0% | +9.1% | +8.9% | +2.9% | 0.0% | +2.0% | +9.1% | +8.6% |
| 2019 | — | — | — | — | — | — | — | −2.8% | +2.1% | +4.2% | +0.2% | +6.8% |
GEMSX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 17.40%
- 3-year Sharpe ratio: 0.80 (vs 4.5% risk-free rate)
- Best month: +15.50% (Apr 2026)
- Worst month: −10.43% (Mar 2026)
GEMSX Fund Flows
Monthly money in and out of Goldman Sachs Emerging Markets Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$621.9M
- 12-month gross sales (incl. reinvestments): $330.8M
- Sales ÷ redemptions: 0.35×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $24.0M | $76.6M | −$52.6M |
| Jun 2026 | $16.2M | $92.3M | −$76.0M |
| May 2026 | $32.9M | $43.3M | −$10.4M |
| Apr 2026 | $18.8M | $51.5M | −$32.7M |
| Mar 2026 | $18.8M | $32.6M | −$13.8M |
| Feb 2026 | $47.4M | $106.5M | −$59.0M |
| Jan 2026 | $34.4M | $93.9M | −$59.5M |
| Dec 2025 | $35.6M | $60.3M | −$24.8M |
| Nov 2025 | $15.7M | $86.0M | −$70.4M |
| Oct 2025 | $11.2M | $79.6M | −$68.5M |
| Sep 2025 | $61.0M | $156.9M | −$95.9M |
| Aug 2025 | $14.9M | $73.3M | −$58.4M |
GEMSX Assets Under Management
Net assets of Goldman Sachs Emerging Markets Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $3.18B |
| 2026-04-30 | $3.30B |
| 2026-01-31 | $3.11B |
| 2025-10-31 | $3.02B |
| 2025-07-31 | $2.82B |
| 2025-04-30 | $2.63B |
| 2025-01-31 | $2.66B |
| 2024-10-31 | $2.86B |
| 2024-07-31 | $2.76B |
| 2024-04-30 | $2.67B |
| 2024-01-31 | $2.64B |
| 2023-10-31 | $2.60B |
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.