BBEM vs. DFEM

Last updated Jun 4, 2026

BBEM (JPMorgan Betabuilders Emerging Markets Equity ETF) and DFEM (Dimensional Emerging Markets Core Equity 2 ETF) are both Emerging Markets Diversified funds. BBEM is passively managed, while DFEM is actively managed. Over the past 3 years, BBEM returned 23.00%/yr vs 23.24%/yr for DFEM. With a 0.97 correlation, they move nearly in lockstep. BBEM charges 0.15%/yr vs 0.39%/yr for DFEM.

Performance

BBEM vs. DFEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBEM achieves a 27.02% return, which is significantly higher than DFEM's 25.59% return.

BBEM

• 1D: -1.31%
• 1M: 9.46%
• YTD: 27.02%
• 6M: 29.37%
• 1Y: 53.50%
• 3Y*: 23.00%
• 5Y*: —
• 10Y*: —

DFEM

• 1D: -1.28%
• 1M: 6.85%
• YTD: 25.59%
• 6M: 27.96%
• 1Y: 50.40%
• 3Y*: 23.24%
• 5Y*: —
• 10Y*: —

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

BBEM vs. DFEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF	27.02%	32.43%	5.61%	6.01%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	25.59%	29.51%	7.53%	9.16%

Correlation

The correlation between BBEM and DFEM is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 12, 2023	0.97

The correlation between BBEM and DFEM has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

BBEM vs. DFEM - Sectors Allocation Comparison

Sectors	BBEM	DFEM
Technology	36.5%	32.9%
Financial Services	19.0%	15.4%
Consumer Cyclical	10.0%	9.8%
Industrials	8.1%	11.9%
Communication Services	6.7%	5.5%
Basic Materials	6.2%	8.4%
Energy	4.2%	4.4%
Consumer Defensive	3.0%	3.7%
Healthcare	2.8%	3.8%
Utilities	2.5%	2.2%
Real Estate	1.0%	2.0%

Return for Risk

BBEM vs. DFEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBEM

BBEM Risk / Return Rank: 82
BBEM Sharpe Ratio Rank: 84
BBEM Sortino Ratio Rank: 81
BBEM Omega Ratio Rank: 83
BBEM Calmar Ratio Rank: 80
BBEM Martin Ratio Rank: 81

DFEM

DFEM Risk / Return Rank: 81
DFEM Sharpe Ratio Rank: 83
DFEM Sortino Ratio Rank: 78
DFEM Omega Ratio Rank: 82
DFEM Calmar Ratio Rank: 80
DFEM Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBEM vs. DFEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM). 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.

	BBEM	DFEM	Difference
Sharpe ratio: Return per unit of total volatility	2.76	2.74	+0.01
Sortino ratio: Return per unit of downside risk	3.64	3.54	+0.10
Omega ratio: Gain probability vs. loss probability	1.51	1.50	+0.01
Calmar ratio: Return relative to maximum drawdown	4.10	4.18	-0.08
Martin ratio: Return relative to average drawdown	16.16	16.33	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBEM vs. DFEM - Sharpe Ratio Comparison

The current BBEM Sharpe Ratio is 2.76, which is comparable to the DFEM Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of BBEM and DFEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBEM	DFEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.76	2.74	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.92	+0.41

Drawdowns

BBEM vs. DFEM - Drawdown Comparison

The maximum BBEM drawdown since its inception was -17.42%, smaller than the maximum DFEM drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for BBEM and DFEM.

Drawdown Indicators

	BBEM	DFEM	Difference
Max Drawdown Largest peak-to-trough decline	-17.42%	-20.82%	+3.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-12.12%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-17.42%	-18.09%	+0.67%
Current Drawdown Current decline from peak	-1.31%	-1.28%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.70%	-5.03%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.09%	+0.23%

Volatility

BBEM vs. DFEM - Volatility Comparison

JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) has a higher volatility of 8.59% compared to Dimensional Emerging Markets Core Equity 2 ETF (DFEM) at 7.78%. This indicates that BBEM's price experiences larger fluctuations and is considered to be riskier than DFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBEM	DFEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.59%	7.78%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	17.20%	16.02%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	19.49%	18.45%	+1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	17.26%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	17.26%	+0.24%

BBEM vs. DFEM - Expense Ratio Comparison

BBEM has a 0.15% expense ratio, which is lower than DFEM's 0.39% expense ratio.

Dividends

BBEM vs. DFEM - Dividend Comparison

BBEM's dividend yield for the trailing twelve months is around 4.59%, more than DFEM's 1.82% yield.

Position	TTM	2025	2024	2023	2022
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF	4.59%	5.86%	2.73%	1.94%	0.00%
DFEM Dimensional Emerging Markets Core Equity 2 ETF	1.82%	2.32%	2.50%	2.38%	1.99%

Frequently Asked Questions

Can I hold both BBEM and DFEM in my portfolio?

With a correlation of 0.96, BBEM and DFEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBEM or DFEM?

BBEM has higher volatility (8.59%) compared to DFEM (7.78%). In terms of maximum drawdown, BBEM dropped -17.42% vs DFEM's -20.82%.

Which ETF is better, BBEM or DFEM?

On 3-year performance, DFEM leads with 23.24% vs 23.00% for BBEM. On fees, BBEM is cheaper at 0.15% per year. On volatility, DFEM has been the lower-risk option at 7.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBEM or DFEM?

Over the 3-year period, DFEM has performed better with a 23.24% return vs 23.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBEM or DFEM?

BBEM is cheaper with a 0.15% expense ratio, compared with 0.39% for DFEM.

Which ETF pays a higher dividend yield, BBEM or DFEM?

BBEM has the higher dividend yield at 4.59%, compared with 1.82% for DFEM.

What is the main difference between BBEM and DFEM?

They also come from different issuers: JPMorgan and Dimensional. Their fees differ too: 0.15% for BBEM and 0.39% for DFEM.

Which has better risk-adjusted returns?

BBEM currently has the higher Sharpe Ratio (2.76 vs 2.74), 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.