BCEM vs. TDEC

Last updated Jul 8, 2026

BCEM (Baron Emerging Markets Select ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - BCEM is a Emerging Markets Equities fund actively managed by Baron Capital, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. BCEM is actively managed, while TDEC is passively managed. With a 0.95 correlation, they move nearly in lockstep. BCEM charges 0.80%/yr vs 0.95%/yr for TDEC.

Performance

BCEM vs. TDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron Emerging Markets Select ETF (BCEM) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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*: —

TDEC

• 1D: -0.90%
• 1M: 1.45%
• 6M: 4.98%
• YTD: 7.60%
• 1Y: 17.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCEM vs. TDEC - Yearly Performance Comparison

	2026 (YTD)
BCEM Baron Emerging Markets Select ETF	6.53%
TDEC FT Vest Emerging Markets Buffer ETF - December	3.07%

Correlation

The correlation between BCEM and TDEC is 0.95 - 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 (All Time) Calculated using the full available price history since Apr 9, 2026	0.95

Return for Risk

BCEM vs. TDEC — Risk / Return Rank

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

BCEM

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

TDEC

TDEC Risk / Return Rank: 62
TDEC Sharpe Ratio Rank: 61
TDEC Sortino Ratio Rank: 59
TDEC Omega Ratio Rank: 76
TDEC Calmar Ratio Rank: 52
TDEC Martin Ratio Rank: 63

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.

BCEM vs. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Emerging Markets Select ETF (BCEM) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.68	—
Sortino ratio: Return per unit of downside risk	—	2.32	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	2.20	—
Martin ratio: Return relative to average drawdown	—	9.35	—

Drawdowns

BCEM vs. TDEC - Drawdown Comparison

The maximum BCEM drawdown since its inception was -8.79%, smaller than the maximum TDEC drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for BCEM and TDEC.

Drawdown Indicators

	BCEM	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-8.79%	-10.30%	+1.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.16%	—
Current Drawdown Current decline from peak	-8.04%	-2.19%	-5.85%
Average Drawdown Average peak-to-trough decline	-2.58%	-1.06%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	BCEM	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.92%	10.71%	+23.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.92%	11.98%	+21.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.92%	11.98%	+21.94%

BCEM vs. TDEC - Expense Ratio Comparison

BCEM has a 0.80% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

BCEM vs. TDEC - Dividend Comparison

Neither BCEM nor TDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCEM and TDEC in my portfolio?

With a correlation of 0.95, BCEM and TDEC 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 ETF is better, BCEM or TDEC?

On fees, BCEM is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCEM or TDEC?

BCEM is cheaper with a 0.80% expense ratio, compared with 0.95% for TDEC.

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

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

What is the main difference between BCEM and TDEC?

BCEM is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. They also come from different issuers: Baron Capital and FT Vest. Their fees differ too: 0.80% for BCEM and 0.95% for TDEC.