BCEM vs. QAT
BCEM (Baron Emerging Markets Select ETF) and QAT (iShares MSCI Qatar ETF) are both Emerging Markets Equities funds. BCEM is actively managed, while QAT is passively managed. At a 0.38 correlation, their price movements are largely independent. BCEM charges 0.80%/yr vs 0.59%/yr for QAT.
Performance
BCEM vs. QAT - Performance Comparison
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Returns By Period
BCEM
- 1D
- -2.97%
- 1M
- 1.43%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QAT
- 1D
- -1.07%
- 1M
- 0.61%
- 6M
- -3.21%
- YTD
- -0.45%
- 1Y
- 1.50%
- 3Y*
- 4.94%
- 5Y*
- 3.20%
- 10Y*
- 3.93%
BCEM vs. QAT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BCEM Baron Emerging Markets Select ETF | 6.53% |
QAT iShares MSCI Qatar ETF | -2.28% |
Correlation
The correlation between BCEM and QAT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 9, 2026 | 0.38 |
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Return for Risk
BCEM vs. QAT — Risk / Return Rank
BCEM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QAT
BCEM vs. QAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baron Emerging Markets Select ETF (BCEM) and iShares MSCI Qatar ETF (QAT). 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.
| BCEM | QAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.03 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.14 | — |
| Martin ratioReturn relative to average drawdown | — | 0.25 | — |
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Drawdowns
BCEM vs. QAT - Drawdown Comparison
The maximum BCEM drawdown since its inception was -8.79%, smaller than the maximum QAT drawdown of -45.21%. Use the drawdown chart below to compare losses from any high point for BCEM and QAT.
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Drawdown Indicators
| BCEM | QAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.79% | -45.21% | +36.42% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.60% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.41% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.04% | — |
Current DrawdownCurrent decline from peak | -8.04% | -12.83% | +4.79% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -19.12% | +16.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.94% | — |
Volatility
BCEM vs. QAT - Volatility Comparison
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Volatility by Period
| BCEM | QAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.33% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.92% | 13.32% | +20.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.92% | 15.07% | +18.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.92% | 17.54% | +16.38% |
BCEM vs. QAT - Expense Ratio Comparison
BCEM has a 0.80% expense ratio, which is higher than QAT's 0.59% expense ratio.
Dividends
BCEM vs. QAT - Dividend Comparison
BCEM has not paid dividends to shareholders, while QAT's dividend yield for the trailing twelve months is around 4.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCEM Baron Emerging Markets Select ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QAT iShares MSCI Qatar ETF | 4.70% | 3.51% | 5.90% | 3.92% | 4.78% | 2.33% | 2.63% | 3.57% | 4.63% | 4.10% | 3.51% | 4.49% |
Frequently Asked Questions
BCEM and QAT have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QAT is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QAT is cheaper with a 0.59% expense ratio, compared with 0.80% for BCEM.
QAT has the higher dividend yield at 4.70%, compared with 0.00% for BCEM.
They also come from different issuers: Baron Capital and iShares. Their fees differ too: 0.80% for BCEM and 0.59% for QAT.
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