GMF vs CEFS
Comparison between STATE STREET(R) SPDR(R) S&P(R) EMERGING ASIA PACIFIC ETF (GMF, ETF) and SABA OPPORTUNISTICALLY HEDGED CLOSED-END FUNDS ETF (CEFS, ETF).
5-Year PerformanceCEFS has outperformed GMF, delivering a return of +14.1% compared to +7.0%
GMF vs CEFS - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
GMF
$426M
CEFS
$425M
Expense Ratio
Winner
GMF
0.49%
CEFS
2.61%
Max Drawdown
GMF
67.62%
Winner
CEFS
41.61%
Sharpe Ratio
GMF
0.87
Winner
CEFS
1.49
5Y Beta
GMF
0.78
Winner
CEFS
0.54
5Y Dividends CAGR
Winner
GMF
3.79%
CEFS
2.98%
GMF vs CEFS - Holdings Comparison
GMF and CEFS have 1 common holdings. Overlap is -6.51%
GMF's top 25 holdings weight is 39.04%. CEFS's top 25 holdings weight is 97.88%.
| Rank | GMF | CEFS |
|---|---|---|
| #1 | n/a (TSM) - 16.78% | n/a (BSTZ) - 13.17% |
| #2 | TENCENT HOLDINGS LTD (n/a) - 3.64% | CASH & CASH EQUIVALENTS (n/a) - 10.91% |
| #3 | n/a (n/a) - 2.98% | ASA GOLD AND PRECIOUS METALS (ASA) - 8.09% |
| #4 | MEDIATEK INC (n/a) - 2.01% | n/a (NFJ) - 7.81% |
| #5 | HON HAI PRECISION INDUSTRY CO LTD (n/a) - 1.24% | BNP SHORT CASH ACCT (n/a) - 7.77% |
| #6 | DELTA ELECTRONICS INC (n/a) - 1.14% | BLACKROCK ESG CAPITAL ALLOCATION TRUST (ECAT) - 6.40% |
| #7 | CHINA CONSTRUCTION BANK CORP CLASS H (n/a) - 1.12% | GABELLI DIVIDEND & INCOME TRUST (GDV) - 3.72% |
| #8 | ASE TECHNOLOGY HOLDING CO LTD (n/a) - 0.96% | NEUBERGER NXT GENERATION CNNCTVTY (NBXG) - 3.22% |
| #9 | RELIANCE INDUSTRIES LTD GDR 144A (RLNIY) - 0.92% | GENERAL AMERICAN INVESTORS CO INC (GAM) - 3.21% |
| #10 | ICICI BANK LTD ADR (IBN) - 0.89% | PIMCO DYNAMIC INCOME STRATEGY FUND (PDX) - 3.20% |
| #11 | HDFC BANK LTD (n/a) - 0.88% | NUVEEN S&P 500 DYNAMIC OVERWRITE FUND (SPXX) - 2.93% |
| #12 | n/a (n/a) - 0.77% | NEUBERGER ENERGY INFRA AND INCOME INC (NML) - 2.89% |
| #13 | PDD HOLDINGS INC ADR (PDD) - 0.65% | ROYCE MICRO-CAP TRUST (RMT) - 2.84% |
| #14 | BHARTI AIRTEL LTD (n/a) - 0.64% | MEXICO FUND INC (MXF) - 2.45% |
| #15 | ELITE MATERIAL CO LTD (n/a) - 0.63% | TRI CONTINENTAL (TY) - 2.43% |
| #16 | MEITUAN CLASS B (n/a) - 0.62% | BLACKROCK TECH AND PRIVATE EQUITY TERM (BTX) - 2.24% |
| #17 | CTBC FINANCIAL HOLDING CO LTD (n/a) - 0.60% | JAPAN SMALLER CAPITALIZATION FUND INC (JOF) - 2.08% |
| #18 | YUANTA FINANCIAL HOLDINGS CO LTD (n/a) - 0.57% | HIGHLAND OPPORTUNITIES AND INCOME FUND (HFRO) - 1.90% |
| #19 | UNITED MICROELECTRONICS CORP ADR (UMC) - 0.57% | BNP LINE OF CREDIT SABA (n/a) - 1.65% |
| #20 | SUN PHARMACEUTICALS INDUSTRIES LTD (n/a) - 0.25% | VIRTUS TOTAL RETURN FUND INC (ZTR) - 1.65% |
| #21 | CHROMA ATE INC (n/a) - 0.24% | n/a (MEGI) - 1.55% |
| #22 | YUM CHINA HOLDINGS INC (YUMC) - 0.24% | NEW GERMANY FUND INC (GF) - 1.48% |
| #23 | n/a (n/a) - 0.24% | n/a (NIE) - 1.45% |
| #24 | MEGA FINANCIAL HOLDING CO LTD (n/a) - 0.23% | BLACKROCK HEALTH SCIENCES TERM TRUST (BMEZ) - 1.44% |
| #25 | BEONE MEDICINES LTD ORDINARY SHARES (n/a) - 0.23% | BNY MELLON STRATEGIC MUNICIPALS, INC. (LEO) - 1.40% |
| Total Holdings | 1251 | 80 |
GMF vs CEFS - Historical Returns
Returns include dividend reinvestment.
1M
Winner
GMF
+4.59%
CEFS
+3.12%
3M
GMF
+1.24%
Winner
CEFS
+2.13%
6M
GMF
+6.29%
Winner
CEFS
+12.43%
1Y
GMF
+21.16%
Winner
CEFS
+21.67%
5Y(CAGR)
GMF
+7.03%
Winner
CEFS
+14.06%
10Y(CAGR)
GMF
+9.22%
Winner
CEFS
+11.98%
Max(CAGR)
GMF
+7.27%
Winner
CEFS
+11.98%
GMF vs CEFS - Annual Returns (2007 - 2026)
Returns include dividend reinvestment.
| Year | GMF | CEFS |
|---|---|---|
| 2026 | +10.69% | +16.98% |
| 2025 | +22.11% | +16.85% |
| 2024 | +18.25% | +23.95% |
| 2023 | +6.69% | +21.43% |
| 2022 | -19.66% | -7.25% |
| 2021 | -2.58% | +18.25% |
| 2020 | +22.19% | +3.04% |
| 2019 | +20.09% | +27.73% |
| 2018 | -16.14% | -9.86% |
| 2017 | +40.53% | +7.63% |
| 2016 | +8.09% | N/A |
| 2015 | -8.55% | N/A |
| 2014 | +12.46% | N/A |
| 2013 | -0.45% | N/A |
| 2012 | +16.77% | N/A |
| 2011 | -20.38% | N/A |
| 2010 | +16.74% | N/A |
| 2009 | +63.86% | N/A |
| 2008 | -47.80% | N/A |
| 2007 | +42.90% | N/A |
GMF vs CEFS Drawdown Comparison
The maximum drawdown for GMF was -67.19%, occurring on Nov 20, 2008. Recovery took 1692 trading sessions.
The maximum drawdown for CEFS was -39.03%, occurring on Mar 23, 2020. Recovery took 192 trading sessions.
The current GMF drawdown is -2.07%. The current CEFS drawdown is -0.97%.
| Rank | GMF | CEFS |
|---|---|---|
| #1 | -67.19% Oct 31, 2007 - Jul 24, 2014 | -39.03% Feb 20, 2020 - Nov 20, 2020 |
| #2 | -40.17% Feb 17, 2021 - Jul 23, 2025 | -16.84% Nov 16, 2021 - Feb 2, 2023 |
| #3 | -31.24% Jan 26, 2018 - Aug 5, 2020 | -16.63% Jan 25, 2018 - Feb 22, 2019 |
| #4 | -30.66% Apr 27, 2015 - May 25, 2017 | -13.36% Feb 18, 2025 - Jun 4, 2025 |
| #5 | -16.46% Jul 23, 2007 - Sep 4, 2007 | -11.03% Aug 1, 2023 - Nov 30, 2023 |
| #6 | -12.62% Feb 25, 2026 - May 5, 2026 | -9.98% Feb 2, 2023 - Jun 12, 2023 |
| #7 | -10.51% Sep 5, 2014 - Apr 2, 2015 | -5.93% Jul 15, 2024 - Aug 27, 2024 |
| #8 | -8.91% Jun 22, 2026 - Jul 29, 2026 | -5.85% Mar 28, 2024 - May 10, 2024 |
| #9 | -5.66% Aug 28, 2020 - Oct 8, 2020 | -5.66% Feb 26, 2026 - Apr 9, 2026 |
| #10 | -5.62% Oct 17, 2007 - Oct 26, 2007 | -4.51% Jul 2, 2026 - Aug 12, 2026 |
| #11 | -5.60% Jun 2, 2026 - Jun 18, 2026 | -4.45% Dec 11, 2024 - Jan 17, 2025 |
| #12 | -5.51% Nov 22, 2017 - Jan 2, 2018 | -4.29% May 3, 2019 - Jun 20, 2019 |
| #13 | -5.47% Oct 29, 2025 - Jan 2, 2026 | -3.73% Jul 17, 2019 - Oct 16, 2019 |
| #14 | -5.07% Jan 25, 2021 - Feb 8, 2021 | -3.66% Dec 28, 2023 - Jan 26, 2024 |
| #15 | -4.71% May 6, 2026 - May 26, 2026 | -3.28% Oct 30, 2025 - Nov 28, 2025 |
Correlation
Correlation between GMF and CEFS is 0.88 which considered as a strong positive correlation - the stocks tend to move together.
0.88
-101
Dividend Comparison (2007 - 2026)
GMF vs CEFS dividend yield comparison.
| Year | GMF | CEFS |
|---|---|---|
| 2026 | 0.42% | 4.41% |
| 2025 | 1.49% | 7.84% |
| 2024 | 1.92% | 8.79% |
| 2023 | 2.75% | 9.20% |
| 2022 | 2.54% | 11.32% |
| 2021 | 2.71% | 10.73% |
| 2020 | 1.32% | 8.61% |
| 2019 | 1.75% | 8.10% |
| 2018 | 2.26% | 10.43% |
| 2017 | 1.70% | 5.02% |
| 2016 | 2.49% | 0.00% |
| 2015 | 3.76% | 0.00% |
| 2014 | 1.55% | 0.00% |
| 2013 | 2.18% | 0.00% |
| 2012 | 1.77% | 0.00% |
| 2011 | 3.94% | 0.00% |
| 2010 | 4.44% | 0.00% |
| 2009 | 0.98% | 0.00% |
| 2008 | 1.33% | 0.00% |
| 2007 | 1.31% | 0.00% |
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