AVEE vs. BKEM

Last updated Aug 2, 2026

AVEE (Avantis Emerging Markets Small Cap Equity ETF) and BKEM (BNY Mellon Emerging Markets Equity ETF) are both Emerging Markets Equities funds - AVEE tracks the MSCI Emerging Markets Small Cap Index while BKEM tracks the Morningstar Emerging Markets Large Cap Index. Both are passively managed. Over the past year, AVEE returned 8.02% vs 36.07% for BKEM. Their correlation of 0.88 means they have usually moved in the same direction. AVEE charges 0.42%/yr vs 0.11%/yr for BKEM.

Performance

AVEE vs. BKEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Small Cap Equity ETF (AVEE) and BNY Mellon Emerging Markets Equity ETF (BKEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEE achieves a 2.14% return, which is significantly lower than BKEM's 19.49% return.

AVEE

• 1D: -0.36%
• 1M: -7.56%
• 6M: -3.22%
• YTD: 2.14%
• 1Y: 8.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.24%

BKEM

• 1D: 1.00%
• 1M: -2.28%
• 6M: 10.09%
• YTD: 19.49%
• 1Y: 36.07%
• 3Y*: 18.26%
• 5Y*: 7.27%
• 10Y*: —
• ALL TIME*: 12.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AVEE Avantis Emerging Markets Small Cap Equity ETF	$1.25M	$1.05M	$861.76K
BKEM BNY Mellon Emerging Markets Equity ETF	$479.81K	$325.26K	$242.87K

AVEE vs. BKEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.14%	19.80%	2.91%	6.15%
BKEM BNY Mellon Emerging Markets Equity ETF	19.49%	30.55%	7.53%	6.81%

Correlation

The correlation between AVEE and BKEM is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.88

The correlation between AVEE and BKEM has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

AVEE vs. BKEM - Sectors Allocation Comparison

Sectors	AVEE	BKEM
Technology	24.8%	44.5%
Industrials	19.4%	7.6%
Consumer Cyclical	11.6%	7.7%
Basic Materials	9.8%	5.4%
Financial Services	9.7%	17.5%
Healthcare	7.0%	2.7%
Consumer Defensive	5.3%	2.6%
Real Estate	4.3%	1.1%
Communication Services	3.7%	5.8%
Utilities	2.8%	2.0%
Energy	1.9%	3.1%

Return for Risk

AVEE vs. BKEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AVEE

AVEE Risk / Return Rank: 21
AVEE Sharpe Ratio Rank: 20
AVEE Sortino Ratio Rank: 20
AVEE Omega Ratio Rank: 20
AVEE Calmar Ratio Rank: 21
AVEE Martin Ratio Rank: 24

BKEM

BKEM Risk / Return Rank: 65
BKEM Sharpe Ratio Rank: 64
BKEM Sortino Ratio Rank: 59
BKEM Omega Ratio Rank: 65
BKEM Calmar Ratio Rank: 73
BKEM Martin Ratio Rank: 65

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AVEE vs. BKEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Small Cap Equity ETF (AVEE) and BNY Mellon Emerging Markets Equity ETF (BKEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVEE	BKEM	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.48	-1.07
Sortino ratio: Return per unit of downside risk	0.68	1.99	-1.32
Omega ratio: Gain probability vs. loss probability	1.09	1.27	-0.19
Calmar ratio: Return relative to maximum drawdown	0.56	2.54	-1.98
Martin ratio: Return relative to average drawdown	1.79	7.83	-6.05

AVEE vs. BKEM - Sharpe Ratio Comparison

The current AVEE Sharpe Ratio is 0.41, which is lower than the BKEM Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AVEE and BKEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVEE vs. BKEM - Drawdown Comparison

The maximum AVEE drawdown since its inception was -20.21%, smaller than the maximum BKEM drawdown of -39.48%. Use the drawdown chart below to compare losses from any high point for AVEE and BKEM.

Drawdown Indicators

	AVEE	BKEM	Difference
Max Drawdown Largest peak-to-trough decline	-20.21%	-39.48%	+19.27%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-13.91%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.28%	—
Current Drawdown Current decline from peak	-12.56%	-9.52%	-3.04%
Average Drawdown Average peak-to-trough decline	-3.83%	-15.76%	+11.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	4.49%	-0.16%

Volatility

AVEE vs. BKEM - Volatility Comparison

The current volatility for Avantis Emerging Markets Small Cap Equity ETF (AVEE) is 6.24%, while BNY Mellon Emerging Markets Equity ETF (BKEM) has a volatility of 9.22%. This indicates that AVEE experiences smaller price fluctuations and is considered to be less risky than BKEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEE	BKEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.24%	9.22%	-2.98%
Volatility (6M) Calculated over the trailing 6-month period	17.15%	21.85%	-4.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.06%	23.85%	-4.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	19.61%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	19.76%	-2.41%

AVEE vs. BKEM - Expense Ratio Comparison

AVEE has a 0.42% expense ratio, which is higher than BKEM's 0.11% expense ratio.

Dividends

AVEE vs. BKEM - Dividend Comparison

AVEE's dividend yield for the trailing twelve months is around 2.43%, more than BKEM's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AVEE Avantis Emerging Markets Small Cap Equity ETF	2.43%	2.25%	3.26%	0.39%	0.00%	0.00%	0.00%
BKEM BNY Mellon Emerging Markets Equity ETF	1.96%	2.25%	2.76%	3.02%	3.15%	2.22%	1.78%

Frequently Asked Questions

Can I hold both AVEE and BKEM in my portfolio?

AVEE and BKEM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVEE or BKEM?

BKEM has higher volatility (9.22%) compared to AVEE (6.24%). In terms of maximum drawdown, AVEE dropped -20.21% vs BKEM's -39.48%.

Which ETF is better, AVEE or BKEM?

On 1-year performance, BKEM leads with 36.07% vs 8.02% for AVEE. On fees, BKEM is cheaper at 0.11% per year. On volatility, AVEE has been the lower-risk option at 6.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVEE or BKEM?

Over the 1-year period, BKEM has performed better with a 36.07% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVEE or BKEM?

BKEM is cheaper with a 0.11% expense ratio, compared with 0.42% for AVEE.

Which ETF pays a higher dividend yield, AVEE or BKEM?

AVEE has the higher dividend yield at 2.43%, compared with 1.96% for BKEM.

What is the main difference between AVEE and BKEM?

AVEE tracks MSCI Emerging Markets Small Cap Index, while BKEM tracks Morningstar Emerging Markets Large Cap Index. They also come from different issuers: Avantis and BNY Mellon. Their fees differ too: 0.42% for AVEE and 0.11% for BKEM.

Which has better risk-adjusted returns?

BKEM currently has the higher Sharpe Ratio (1.48 vs 0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.