SPDR S&P Emerging Asia Pacific ETF (GMF) Performance
GMF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.6% since Dec 31, 2025
- 1 year
- +5.9% total return
- 5 years
- +5.0% a year
- 10 years
- +8.2% a year
- Since first price
- +6.9% a year since 2007
GMF trailing returns vs SPY, QQQ, AGG
| Period | GMF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −6.7% | −6.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.7% | −2.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.7% | +0.2% | +7.8% | +8.4% | −1.5% |
| YTD | +6.6% | +6.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.9% | +4.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +66.0%+18.4%/yr | +56.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +27.9%+5.0%/yr | +14.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +120.1%+8.2%/yr | +78.6% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +199.6%+7.6%/yr | +112.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionMar 23, 2007 | +266.2%+6.9%/yr | +138.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GMF vs SPY
From Mar 23, 2007: GMF grew to $36,624, SPY to $75,673.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GMF returns by calendar year
12 of 18 full years positive. Best 2009 (+70.4%), worst 2008 (−48.9%). 2026 is year to date.
GMF annual returns table
| Year | GMF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.6% | −12.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +22.0% | −15.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.5% | −10.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +8.2% | −11.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −19.0% | −32.5% | −18.2% | −32.6% | −13.0% |
| 2021 | −1.9% | −17.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +25.0% | −28.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +19.9% | −12.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.2% | −26.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +41.7% | −5.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +4.6% | −10.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −8.5% | −28.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +9.8% | −10.5% | +13.5% | +19.2% | +6.0% |
| 2013 | +1.9% | −14.4% | +32.3% | +36.6% | −2.0% |
| 2012 | +19.6% | −16.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −19.1% | −28.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +19.5% | −15.1% | +15.1% | +19.9% | +6.4% |
| 2009 | +70.4% | −23.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −48.9% | −62.4% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GMF largest drawdowns
Now 8.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 31, 2007 | −67.2% | Nov 20, 2008 | Jul 23, 2014 | 1.1 years | 6.7 years |
| Feb 17, 2021 | −40.2% | Oct 24, 2022 | Jul 23, 2025 | 1.7 years | 4.4 years |
| Jan 26, 2018 | −31.2% | Mar 23, 2020 | Aug 5, 2020 | 2.2 years | 2.5 years |
| Apr 27, 2015 | −30.7% | Feb 11, 2016 | May 25, 2017 | 10 months | 2.1 years |
| Jul 23, 2007 | −16.5% | Aug 16, 2007 | Sep 4, 2007 | 24 days | 43 days |
| Feb 25, 2026 | −12.6% | Mar 30, 2026 | May 5, 2026 | 33 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GMF risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +19.4% | +7.1% | +8.8% | +7.3% |
| Volatility (annualized) | 12.7% | 16.3% | 15.9% | 20.7% |
| Sharpe ratio | 1.12 | 0.28 | 0.47 | 0.38 |
| Sortino ratio | 2.09 | 0.47 | 0.75 | 0.58 |
| Best month | +10.5% | +17.8% | +17.8% | +22.7% |
| Worst month | −8.4% | −10.9% | −11.6% | −22.6% |
| Best 12 months | +33.3% | +33.3% | +57.0% | +85.4% |
| Worst 12 months | +11.4% | −31.1% | −31.1% | −58.1% |
| Positive months | 67% | 53% | 59% | 56% |
| Beta vs S&P 500 | 0.68 | 0.59 | 0.64 | — |
| Correlation with S&P 500 | 0.66 | 0.57 | 0.62 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GMF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 224 | −58.1% | +9.6% | +85.4% | 66% |
| 3-year (a year) | 200 | −7.6% | +6.4% | +30.4% | 88% |
| 5-year (a year) | 176 | −4.2% | +5.5% | +17.7% | 94% |
| 10-year (a year) | 116 | +2.5% | +6.2% | +12.3% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
GMF performance overview
SPDR S&P Emerging Asia Pacific ETF (GMF) returned +5.9% over the past year and +8.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +6.9% a year, turning $10,000 into about $36,624. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −67.2%, from Oct 31, 2007 to Nov 20, 2008, and it took 5.7 years to get back to the old high. GMF finished 12 of its 18 full calendar years with a gain; the best year was 2009 (+70.4%) and the worst 2008 (−48.9%). Volatility has been 20.7% a year.
Related: GMF chart, GMF holdings, GMF dividends. See the GMF overview for the latest quote and fund facts.
GMF performance FAQ
What is the GMF return over the past year?
GMF returned +5.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.6%.
What is the average annual return of GMF?
GMF has returned +5.0% a year over 5 years, +8.2% a year over 10 years, +6.9% a year since March 23, 2007 (total return, distributions reinvested).
How much would $10,000 invested in GMF be worth?
$10,000 invested in GMF at its first recorded close on March 23, 2007 would be worth about $36,624 on October 23, 2026 with distributions reinvested.
What was the worst year for GMF?
The worst calendar year was 2008, with a total return of −48.9%. The best was 2009 at +70.4%.
What is the biggest drawdown of GMF?
The largest peak-to-trough decline was −67.2% between October 31, 2007 and November 20, 2008. It recovered to the old high on July 23, 2014, 5.7 years after the bottom.
How volatile is GMF?
Over the past 3 years GMF had an annualized volatility of 12.7% and a Sharpe ratio of 1.12 (excess return over 1–3 month T-bills per unit of risk).