BCEM vs. BCSM

Last updated Jul 8, 2026

BCEM (Baron Emerging Markets Select ETF) and BCSM (Baron SMID Cap ETF) are both exchange-traded funds - BCEM is a Emerging Markets Equities fund actively managed by Baron Capital, while BCSM is a Mid Cap Growth Equities fund actively managed by Baron Capital. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. BCEM charges 0.80%/yr vs 0.75%/yr for BCSM.

Performance

BCEM vs. BCSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Emerging Markets Select ETF (BCEM) and Baron SMID Cap ETF (BCSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BCEM

• 1D: -2.97%
• 1M: 1.43%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCSM

• 1D: -1.52%
• 1M: 5.61%
• 6M: 0.15%
• YTD: 3.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCEM vs. BCSM - Yearly Performance Comparison

	2026 (YTD)
BCEM Baron Emerging Markets Select ETF	6.53%
BCSM Baron SMID Cap ETF	11.65%

Correlation

The correlation between BCEM and BCSM is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026	0.51

Return for Risk

BCEM vs. BCSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Emerging Markets Select ETF (BCEM) and Baron SMID Cap ETF (BCSM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

BCEM vs. BCSM - Drawdown Comparison

The maximum BCEM drawdown since its inception was -8.79%, smaller than the maximum BCSM drawdown of -17.45%. Use the drawdown chart below to compare losses from any high point for BCEM and BCSM.

Drawdown Indicators

	BCEM	BCSM	Difference
Max Drawdown Largest peak-to-trough decline	-8.79%	-17.45%	+8.66%
Current Drawdown Current decline from peak	-8.04%	-1.52%	-6.52%
Average Drawdown Average peak-to-trough decline	-2.58%	-6.91%	+4.33%

Volatility

Volatility by Period

	BCEM	BCSM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	33.92%	20.33%	+13.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.92%	20.33%	+13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.92%	20.33%	+13.59%

BCEM vs. BCSM - Expense Ratio Comparison

BCEM has a 0.80% expense ratio, which is higher than BCSM's 0.75% expense ratio.

Dividends

BCEM vs. BCSM - Dividend Comparison

Neither BCEM nor BCSM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCEM and BCSM in my portfolio?

BCEM and BCSM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCEM or BCSM?

On fees, BCSM is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCEM or BCSM?

BCSM is cheaper with a 0.75% expense ratio, compared with 0.80% for BCEM.

Which ETF pays a higher dividend yield, BCEM or BCSM?

BCEM and BCSM have nearly identical dividend yields, around 0.00%.

What is the main difference between BCEM and BCSM?

BCEM is categorized as Emerging Markets Equities, while BCSM is Mid Cap Growth Equities. Their fees differ too: 0.80% for BCEM and 0.75% for BCSM.